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FRANK MARSHALL AND KATHLEEN KENNEDY TO DEVELOP AND PRODUCE MOTION PICTURES FOR PARAMOUNT PICTURES

 HOLLYWOOD, Dec. 17 /PRNewswire/ -- Frank Marshall and Kathleen Kennedy have entered into an agreement to develop and produce motion pictures for Paramount Pictures, it was announced today by Motion Picture Group Chairman Sherry Lansing and Group President/Production John Goldwyn.
 Under the terms of the non-exclusive three-year arrangement, Marshall and Kennedy will give Paramount first look at all their producing projects. Their production company will be based at Paramount's Hollywood studio.
 "Frank and Kathleen's films have made movie-going a distinct pleasure over the past two decades," said Lansing. "We're thrilled to be able to have them make their special magic at Paramount."
 "Frank and Kathy bring to Paramount a vast network of important talent relationships, unparalleled filmmaking experience and a natural instinct for quality commercial pictures," said Goldwyn. "There's no question we scored a tremendous coup in getting them and their company to the studio."
 "I'm delighted to welcome Frank and Kathleen to Paramount," said Stanley R. Jaffe, president and chief operating officer of Paramount Communications Inc. "They've always represented the best that producers can be, and, as a former producer, I fully appreciate what advantages that brings to our company."
 "We're really looking forward to working at Paramount in the years ahead," said Marshall and Kennedy. "We first met during Raiders of the Lost Ark,' so working at Paramount has a special meaning to us. Now as we set up our own company, we are very excited about the new point of view Stanley, Sherry and John have brought to the studio."
 Marshall and Kennedy were Steven Spielberg's founding partners in Amblin Entertainment in 1981. Since then, their combined credits include the enormous successes "E.T.: The Extraterrestrial," "Indian Jones and the Temple of Doom," "Back to the Future," "The Color Purple," "Who Framed Roger Rabbit," "Indiana Jones and the Last Crusade," "Empire of the Sun," "Cape Fear," "Arachnaphobia" and "Hook!"
 Marshall's producing credits include the "Indiana Jones" trilogy, "Back to the Future" trilogy, "The Color Purple" and "Who Framed Roger Rabbit." He made his directorial debut with "Arachnaphobia" in 1990 and most recently directed "Alive," a joint production of Paramount and Touchstone, scheduled for release in January 1993.
 He began his film career working with Peter Bogdanovich as location manager for "The Last Picture Show" and "What's Up, Doc?," and as associate producer for Bogdanovich's "Paper Moon," "Daisy Miller," "At Long Last Love" and "Nickelodeon."
 Marshall served as line producer for Orson Welles' "The Other Side of the Wind," and for Martin Scorsese's rock documentary "The Last Waltz." For director Walter Hill, he served as executive producer for "The Driver" and "The Warriors."
 He began his successful collaboration with Spielberg and George Lucas with "Raiders of the Lost Ark." In 1981, with "E.T.: The Extraterrestrial" and "Poltergeist," he began his long-time association with Spielberg and Kennedy and the formation of Amblin Entertainment.
 Kennedy most recently served as president of Amblin Entertainment. She began her association with Spielberg as a production assistant on "1941." From there, she became an associate producer on "Raiders of the Lost Ark" and "Poltergeist."
 She produced, along with Spielberg, "E.T.: The Extraterrestrial," the highest-grossing film in the history of motion pictures. She also produced "The Color Purple" and "Empire of the Sun," and served as executive producer on the "Back to the Future" series and "Who Framed Roger Rabbit."
 Additionally, she produced "Arachnaphobia" and produced "Alive," both directed by Marshall.
 Kennedy is currently producing "Jurassic Park" for Spielberg and "Far Off Place" for Touchstone Pictures. Other films with which she's been involved as producer or executive producer include "Hook!" "Cape Fear," the "Gremlins" series, "An American Tail," "Young Sherlock Holmes," "The Money Pit," "The Goonies" and "Batteries Not Included."
 She has been closely involved with all of Amblin's television projects including "Amazing Stories" and "Tiny Toon Adventures."
 Paramount Pictures is part of the entertainment operations of Paramount Communications Inc.
 -0- 12/17/92
 /CONTACT: Cheryl Boone Isaacs of Paramount Pictures, 213-956-5504/


CO: Paramount Pictures ST: California IN: ENT SU: PER

EH-JL -- LA015 -- 7730 12/17/92 13:50 EST
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Date:Dec 17, 1992
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