Los Angeles, CA — June 25, 2008 — DreamWorks Studios has acquired the movie rights from Scholastic Media to the multi-platform adventure series, The 39 Clues, it was announced today by Stacey Snider, Co-Chairman and CEO of DreamWorks Studios and Deborah Forte, President of Scholastic Media.

Forte will produce and Steven Spielberg is eyeing to direct.

The 39 Clues, due to launch globally in September, is a fully integrated multi-media adventure that spans across 10 supercharged books, 355 collectible cards, and a dynamic online game where kids can uncover information, play skill based games and collect cards to compete for prizes. The story revolves around the Cahills - the most powerful family the world has ever known - the source of whose power is a mystery that can only be unraveled by assembling 39 clues hidden around the world throughout history. Combining reading with online gaming and collecting, this breakthrough concept is uniquely positioned to reach millions of young people who are readers, gamers, collectors, or all three, and encourage them to participate in the hunt for the 39 clues. The initiative will roll out over a 24-month period starting in September 2008 – with the web site serving as the home base for kids to participate in The 39 Clues experience. The first book in the series, The Maze of Bones, is written by Rick Riordan, a #1 New York Times best-selling author, who also outlined the series’ 10-book story arc.

"The 39 Clues takes creative leaps to expand the story experience from the pages of the books to multiple stages of discovery and imagination," said Steven Spielberg. "Together with Scholastic, we have the opportunity to develop this property that says ‘film,’ ‘family,’ ‘fun,’ and ‘franchise.’"

"When it comes to reaching young people and families through the written word, Scholastic is at the top of the list," said Stacey Snider. "We at DreamWorks Studios are proud that we have been able to acquire this unique property, - and we can't wait to get started."

"We are thrilled to be working with Steven, Stacey and the entire DreamWorks team to bring The 39 Clues to the big screen," said Deborah Forte, President of Scholastic Media. "With our combined strengths and shared passion for the project we hope to develop The 39 Clues into a major family film franchise".

"The 39 Clues is a great property with potential for years to come," said Adam Goodman, DreamWorks Studios’ President of Production. "We are so pleased to be collaborating with Deborah and Scholastic Media on this movie franchise and eagerly look forward to bringing these stories to the screen with our team here at Dreamworks."

Adam Goodman and Holly Bario will oversee the project’s development at DreamWorks Studios.

About DreamWorks Studios

DreamWorks Studios was formed in 1994 by Steven Spielberg, Jeffrey Katzenberg, and David Geffen. The company won three consecutive Best Picture Academy Awards with "American Beauty," "Gladiator," and "A Beautiful Mind" (both co-produced with Universal). Among the company's other successes have been such films as "Saving Private Ryan" (co-produced with Paramount), "The Ring," "Minority Report" (co-produced with 20th Century Fox), "War of the Worlds," "Dreamgirls," and "Transformers" (all co-produced with Paramount). Among its upcoming productions are "Tropic Thunder," "Ghost Town," "Eagle Eye," "The Soloist," and "Revolutionary Road."

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.

Contacts:
For DreamWorks:
Kristin Stark
818) 733-9685
kristin_stark@dreamworksstudios.com

For Scholastic:
Kyle Good
(212) 343-4563
kgood@scholastic.com