NBC, ELECTUS AND HOST ELLE MACPHERSON SEARCH FOR THE NEXT BIG "FASHION STAR"

New Competitive Series Provides National Showcase for Innovative Designs and Allows Major Retailers to Choose their Favorite New Line

UNIVERSAL CITY, Calif. -- April 4, 2011- NBC, multi-media studio Electus, an operating business of IAC (Nasdaq: IACI), and The Magical Elves (Emmy Award winners for "Top Chef" and the original producers of "Project Runway"), today announced the search for the next big brand in fashion with "Fashion Star" (working title) -- a new reality competition series to be hosted by Elle Macpherson, world-famous super-model icon, actress and businesswoman.

"Fashion Star" is designed not only to groom and discover America's next popular brand, but through an exciting new format twist, it will allow viewers at home to buy the winning designs each week. The show will target real-time consumer feedback and interactivity and will span all categories of fashion from suits and dresses to lingerie, denim, bathing suits, shoes, accessories and more.

"Brands have become expressions of communities and statements of identity. Polo, Kate Spade, Uggs, Ray Ban and Victoria's Secret are all great examples of brands that have popped and reflect an entire lifestyle beyond just articles of clothing. This country is overflowing with incredibly talented designers from all walks of life who are waiting to be discovered," said Paul Telegdy, Executive Vice President, Alternative Programming, NBC and Universal Media Studios. "Who better to host then Elle Macpherson -- her impeccable fashion sense and 30 years of experience building her eponymous brand are tremendous assets to the show and the designers."

The series will give 12 unknown designers the chance to win a multi-million dollar contract to launch their line in America's largest retail stores. Each week, the designers will be put through a variety of challenges that will push them to further develop and expand their brands.

Famous designers and buyers from America's largest retailers will serve as the judges, making on-the-spot decisions as they bid against each other, dipping into their own wallets to purchase the work of these up-and-coming designers. These items will shape the future of their stores and create the next big trends for their consumers. At the end of each episode, America will have the chance to immediately purchase the winning designs showcased on the episode that week. What viewers see on TV that night will be on the streets and in stores the very next day. With just a single trip down the runway, "Fashion Star" will change the lives and fortunes of these aspiring designers forever.

"We are excited to team up with NBC to discover and develop the next major fashion brand for retailers around the country and deliver the next breakout television show for an audience that is increasingly obsessed with fashion," said Ben Silverman (Emmy and Golden Globe Award-winning producer and creator and executive producer of "The Biggest Loser"), CEO and founder of Electus. "The stakes are higher than any other competitive reality show, as 'Fashion Star' pulls back the curtain on what it really takes to launch a major national brand."

Hosted and executive-produced by one of the world's most famous fashion icons, Macpherson best embodies the role of what it means to be a smart, savvy and creative business woman as she is also the founder of a series of internationally successful, U.K.-based business ventures including Elle Macpherson Intimates, a lingerie line celebrating its 20th year, and "The Body", a line of skin-care products. The Australian-born Macpherson became one of the world's top fashion models and was named as one of People magazine's "Most Beautiful People."

Macpherson's television credits include hosting and executive producing two seasons of the hit series "Britain's Next Top Model." She has also appeared as a regular on the recent series "The Beautiful Life: TBL" as well as a recurring role on "Friends." Among Macpherson's feature films are "Batman & Robin," "If Lucy Fell," "Jane Eyre," "Sirens" and "The Edge" in which she was opposite Anthony Hopkins. She also has hosted NBC's "Saturday Night Live." Macpherson is represented by Fortitude.

Fashion designers featured on the show will include everyone from the stay-at-home mom who makes her own clothes to sell at the local flea market, to the recent Parson's graduate who just landed his or her first job at Marc Jacobs. All the contestants will be put to the test to see how they react in a variety of real-world scenarios to determine who has the vision and desire to build a fashion empire and achieve their dream. With top experts as their guides and mentors throughout the process, designers will have to be as adept in the business of fashion as they are in their creativity as it's up to them to make their brand a national reality.

In the end, one designer will successfully combine fashion and business to become the next "Fashion Star" and have their entire fashion line on sale exclusively in one of the biggest retailer's in the world.

"Fashion Star" is created by E.J. Johnston and James Deutch of the Global Fashion Association, Rick Ringbakk of Emmy Award-winning 5x5 Media ("Jamie Oliver's Food Revolution") and Ben Silverman ("The Biggest Loser," "The Office," "The Tudors").

The show is executive-produced by Ben Silverman of Electus, Jane Lipstiz & Dan Cutforth of The Magical Elves, Rick Ringbakk of 5x5 Media (a full-service production company in an overall production and distribution agreement within the Electus studio system), Macpherson, and E.J. Johnston & James Deutch of Global Fashion Association. Electus/Engine Distribution will retain all international distribution rights.

For more information on casting go to www.KASSTINGINC.COM.

For embeddable clips and full episodes from NBC shows, please visit NBC.com's official show site: http://www.nbc.com/shows/.

About NBC Entertainment:

NBC Entertainment develops and schedules programming for the network's primetime, late-night, and daytime schedules. NBC's quality programs and balanced lineup have earned the network critical acclaim, numerous awards, and ratings success. The network has earned more Emmy Awards than any network in television history.

NBC's roster of popular scripted series includes such critically acclaimed comedies as Emmy winners "The Office," starring Steve Carell, and "30 Rock," starring Alec Baldwin and Tina Fey. Veteran, award-winning dramas on NBC include the "Law & Order" brand and "Chuck." Unscripted series for NBC include the hits "The Biggest Loser," "The Celebrity Apprentice," and "America's Got Talent." NBC's late-night story is highlighted by "The Tonight Show with Jay Leno," "Late Night with Jimmy Fallon," "Last Call with Carson Daly" and "Saturday Night Live." NBC Daytime's "Days of our Lives" consistently finishes among daytime's top programs in the valuable women 18-34 category. On Saturday mornings, the network broadcasts Qubo on NBC, a three-hour block that features fun, entertaining, and educational programming for kids, including the award-winning, 3-D animated series Veggie Tales. For more information visit www.nbc.com.

About Electus:

Electus is the first integrated multimedia entertainment studio to unite producers, creators, advertisers and distributors under one roof and produce all forms of content for distribution across a variety of platforms around the world. Headed by Ben Silverman, in partnership with IAC [NASDAQ: IACI], the company connects advertisers, distributors and content creators early on in the development process, enabling marketers and advertisers to be a true partner in campaigns and content creation. For more information on Electus, visit www.electus.com.

About Magical Elves:

Magical Elves is the award-winning production team behind some of the highest quality reality programming on television including "Project Runway" and "Top Chef." The Elves, comprised of Dan Cutforth and Jane Lipsitz have won one primetime Emmy and have been nominated an additional 11 times. They are the first recipients of a Peabody Award presented to a reality television program ("Project Runway"). Most recently, Magical Elves transitioned to feature films by producing "Justin Bieber: Never Say Never," currently the third highest-grossing documentary of all time. Other notable television credits include "America's Next Great Restaurant," "Work of Art," "Top Chef Masters," "Top Chef Just Desserts," "The Real L Word," "Project Greenlight," "Last Comic Standing" and "Bands on the Run."

About 5x5 Media:

Five by Five Media ("5x5") is a full service television and film production company in an overall production and distribution agreement within the Electus studio system. 5x5 Media develops and produces both scripted and unscripted television programming and feature films. Our principals have won multiple primetime Emmy Awards, and have produced such titles as "Survivor," "The Amazing Race," "Jamie Oliver's Food Revolution," "Super Nanny," "Extreme Makeover: Home Edition," "Smash Lab," "Monster Garage," "Mythbusters," and "Wired Science."

About Global Fashion Association:

Since launching in 2007, the Global Fashion Association (GFA) has built an international reputation as one of the most capable and connected networks for all things fashion. From high-profile runway shows around the world to development and production of fashion television programming and international designer exchange programs, GFA provides opportunities for fashion talent to reach a global audience. GFA's principals have created and produced television programming for networks including E!, Bravo, CNBC & MTV.