SHOWTIME NETWORKS AND SUMMIT ENTERTAINMENT ENTER INTO EXCLUSIVE OUTPUT AGREEMENT

Deal Calls For Showtime To Air Up To 42 Of Summit's Films Including All Films From The "Twilight" Franchise

LOS ANGELES, CA (December 04, 2008) � Summit Entertainment and Showtime Networks Inc. have entered into an exclusive output agreement in which up to forty-two of Summit's films to be theatrically released between 2008 and 2012 will air on the network. The agreement includes the studio's box office hit Twilight and future installments in the newly-minted franchise. The announcement was made today by Matthew C. Blank, Chairman and CEO, Showtime Networks, and Rob Friedman, Co-Chairman and CEO of Summit Entertainment.

"We're very happy to be in business with Summit Entertainment. The extraordinary success of Twilight and the films in Summit Entertainment's pipeline will be a great addition to Showtime's solid movie library at a price that is consistent with today's marketplace," said Blank. "This new exclusive output agreement will further solidify Showtime's ability to provide our subscribers the best mix of award-winning original series and quality theatrical motion pictures for years to come."

"Showtime has done a great job of establishing itself as a must-see destination on television," said Friedman. "This agreement provides Summit with the ability to have our product exhibited on one of the premiere pay television services in the world and it is also a great complement to our other distribution partners."

In addition to films from the Twilight franchise, Summit has several highly anticipated releases set for 2009 and beyond, all of which will air under the agreement with Showtime. Titles include Knowing, directed by Alex Proyas (I Robot, The Crow) and starring Academy Award� Winner Nicolas Cage and Rose Byrne; Push, starring Chris Evans, Dakota Fanning, two-time Academy Award� nominee Djimon Hounsou and Camilla Belle; Next Day Air featuring Donald Faison, Mos Def, and Mike Epps; Bandslam starring Vanessa Hudgens, Alyson Michalka, and Lisa Kudrow; and Sorority Row, with Rumer Willis and Briana Evigan.

Summit Entertainment's President of Domestic Television Distribution Alex Fragen represented the studio in its negotiations with Showtime.

About Showtime Networks Inc.

Showtime Networks Inc. (SNI), a wholly-owned subsidiary of CBS Corporation, owns and operates the premium television networks SHOWTIME�, THE MOVIE CHANNEL� and FLIX�, as well as the multiplex channels SHOWTIME 2�, SHOWTIME� SHOWCASE, SHOWTIME EXTREME�, SHOWTIME BEYOND�, SHOWTIME NEXT�, SHOWTIME WOMEN�, SHOWTIME FAMILY ZONE� and THE MOVIE CHANNEL� XTRA. SNI also offers SHOWTIME HD�, SHOWTIME 2 HD�, THE MOVIE CHANNEL HD�, SHOWTIME ON DEMAND�, THE MOVIE CHANNEL ON DEMAND� and FLIX ON DEMAND�. SNI also manages Smithsonian Networks�, a joint venture between SNI and the Smithsonian Institution which recently launched SMITHSONIAN CHANNEL�. All SNI feeds provide enhanced sound using Dolby Digital 5.1. SNI markets and distributes sports and entertainment events for exhibition to subscribers on a pay-per-view basis through SHOWTIME PPV�.

About Summit Entertainment

Summit Entertainment is a worldwide theatrical motion picture development, financing, production and distribution studio. The studio handles all aspects of marketing and distribution for both its own internally developed motion pictures as well as acquired pictures. Summit Entertainment, LLC also represents international sales for both its own slate and third party product. Summit Entertainment, LLC plans to release 10 to 12 films annually.