Kim R. Spenchian Promoted to Executive Vice President and Chief Information Officer of MGM's Information Services

Business Wire, August 14, 2001

Business Editors

SANTA MONICA, Calif.--(BUSINESS WIRE)--Aug. 14, 2001

Metro-Goldwyn-Mayer Studios Inc. today announced that it has promoted Kim R. Spenchian to the newly created position of Executive Vice President and Chief Information Officer -- Information Services for the Company.

He will continue to oversee all areas of Information Services worldwide with emphasis on continuous improvements to the existing world class distribution and financial systems, and leveraging new information technologies to extend MGM's competitive advantage in areas such as marketing, sales, promotions, joint ventures, and new products and services. He reports to Daniel Taylor, Senior Executive Vice President and Chief Financial Officer.

"Kim has played a key role in transforming MGM into a global technology leader," said Mr. Taylor. "Over the past four years, he has successfully implemented best-in-class enterprise systems that provide the critical business and technology infrastructure required to fuel MGM's continuing growth and profitability. His leadership, knowledge and commitment has allowed us to capitalize on the use of technology to streamline business processes and move beyond traditional ways of doing business."

Mr. Spenchian began his tenure with Metro-Goldwyn-Mayer in 1995 as Vice President, Information Services. Most recently, he served as Senior Vice President, where he oversaw the conversion and integration of the NBC Television library, implementation of the Home Entertainment video domestic distribution and supply chain management systems, corporate business planning systems, redesign of MGM.com, and pilot implementations of new media (i.e., digital assets), and management and distribution (e.g., Video-On-Demand) systems.

He came to MGM from Weider Health and Fitness, where he had served as Director, Information Services, since 1989. He previously spent two years with Ernst & Young as a Senior Manager in the Manufacturing and Distribution Systems Consulting Practice.

From 1983 to 1987, Mr. Spenchian held several positions with Baxter Travenol Inc.'s Hyland Therapeutics Division, including Director, Information Services. He began his career in 1979 with Arthur Andersen & Co. as an Information Systems Consultant to the manufacturing and distribution industries.

Mr. Spenchian holds a master of business administration degree in entrepreneurship and venture management and a bachelor of science degree in finance, both from the University of Southern California.

Metro-Goldwyn-Mayer Inc. (NYSE:MGM), through its Metro-Goldwyn-Mayer Studios Inc. subsidiary, is actively engaged in the worldwide production and distribution of entertainment product, including motion pictures, television programming, home video, interactive media, music, and licensed merchandise. Its operating units include MGM Pictures, United Artists Films, MGM Television Entertainment, MGM Networks, MGM Distribution Co., MGM Worldwide Television Distribution, MGM Home Entertainment, MGM Consumer Products, MGM Music, MGM Interactive, and MGM.com.

In addition, MGM has acquired a 20 percent ownership interest in four of Rainbow Media's successful national cable networks -- American Movie Classics (AMC), Bravo, The Independent Film Channel (IFC) and WE: Women's Entertainment (formerly Romance Classics), and holds equity interests in 14 television channels internationally. For more information on MGM, visit MGM online at http://www.mgm.com.