Original Films and Scholastic Media to Produce New Movie Based on Internationally Renowned Children’s Book Series With Sales of More than 300 Million Copies Worldwide

Culver City, CA (May 15, 2008) — Columbia Pictures has acquired from Scholastic Media the right to adapt Scholastic’s bestselling Goosebumps™; book series into a theatrical feature. The film will be produced by Deborah Forte and Neal H. Moritz; it was announced today by Doug Belgrad and Matt Tolmach, presidents of Columbia Pictures.

Goosebumps is one of the most popular series of books for children ever – in fact, only the Harry Potter novels have surpassed Goosebumps in total sales.

Goosebumps has been published in over 32 languages and sold more than 300 million copies worldwide. The series was successfully adapted by Scholastic Entertainment for television for the Fox Kids Network, where it was rated #1 for four seasons, and aired in over 100 countries. Episodes of the live action television series returned to the small screen in 2007 on Cartoon Network and instantly became a sensation. New Goosebumps HorrorLand books written by R.L. Stine hit the stores last month and, this fall, Scholastic Interactive unveils a highly anticipated Goosebumps videogame.

Commenting on the announcement, Tolmach said, “Goosebumps is an international multi-media phenomenon, a truly global brand that excites kids everywhere. Children and parents alike love the Goosebumps series – it’s safe, scary fun that is completely accessible to audiences from 8 to 80. When kids think of Goosebumps, they’re drawn not to a single character or mini-series, but to an entire environment. We’re excited by that creative challenge and, with so much rich source material available to us, we expect to deliver a film that will chill and thrill fans of this unique family-friendly franchise.”

“I’m looking forward to bringing Goosebumps to the big screen with Columbia and Neal who value and respect the brand and the global fan base that Scholastic has cultivated. What better way to deliver the rollercoaster ride of scares and humor that the fans expect from Goosebumps than with a movie. Sony’s track record with franchises like Spider-man makes them an ideal partner,” said Deborah Forte, producer and president of Scholastic Media.

“Securing the motion picture rights to Goosebumps for Columbia Pictures and Sony comes with an enormous responsibility to the fans who have grown up with these books and have very high expectations about how these beloved novels will be adapted. We are truly delighted to be partners with Deborah Forte and the team at Scholastic as we work together to bring Goosebumps to the big screen,” said Moritz.

The Goosebumps book series returned to the top of the sales charts again last month with the release of the first two books in Goosebumps HorrorLand, a new twelve book series by R.L. Stine, featuring favorite characters from the original series such as Slappy the Dummy, the Haunted Mask, and the Mummy. It is the first Goosebumps serialized adventure in which each book is part of the same plot. Fans can also get exclusive Goosebumps Horrorland content at www.enterhorrorland.com; and additional Goosebumps chills at the official Goosebumps website, www.scholastic.com/goosebumps, which continues to garner 1.5 million page views each month.

The studio will begin developing the first Goosebumps movie immediately. Andrea Giannetti will oversee the project on behalf of the studio working closely with Original Films and Scholastic.

About Scholastic Media
Scholastic Media (SM), the entertainment and media division of Scholastic, is a leading producer of quality, family-oriented content across multiple platforms, including feature films, television programming, videos, interactive and audio products, and web sites, and is a major developer and marketer of children's brands worldwide.

About Scholastic
Scholastic Corporation (NASDAQ: SCHL) is the world’s largest publisher and distributor of children’s books and a leader in educational technology and children’s media. Scholastic creates quality educational and entertaining materials and products for use in school and at home, including children's books, magazines, technology-based products, teacher materials, television programming, film, videos and toys. The Company distributes its products and services through a variety of channels, including proprietary school-based book clubs and school-based book fairs, retail stores, schools, libraries, television networks and the Company’s Internet Site, www.scholastic.com.

About Columbia Pictures
Columbia Pictures, part of the Columbia TriStar Motion Picture Group, is a Sony Pictures Entertainment company. Sony Pictures Entertainment (SPE) is a subsidiary of Sony Corporation of America (SCA), a subsidiary of Tokyo-based Sony Corporation. SPE’s global operations encompass motion picture production and distribution; television production and distribution; digital content creation and distribution; worldwide channel investments; home entertainment acquisition and distribution; operation of studio facilities; development of new entertainment products, services and technologies; and distribution of filmed entertainment in 67 countries. Sony Pictures Entertainment can be found on the World Wide Web at www.sonypictures.com.

Contacts:
Scholastic Inc.
Kyle Good
212-343-4563
kgood@scholastic.com

Columbia TriStar
Steve Elzer
310- 244-7142
steve_elzer@spe.sony.com