DreamWorks Animation Plans to Bring Dav Pilkey's Captain Underpants to the Big Screen

GLENDALE, Calif., Oct. 20, 2011 /PRNewswire/ -- DreamWorks Animation SKG, Inc. (Nasdaq: DWA) today announced that the studio has obtained the rights to Dav Pilkey's Captain Underpants book series, with plans to pursue a feature film adaptation for the big screen. DreamWorks Animation development executive Damon Ross is overseeing the project at the studio.

The Captain Underpants book series tells the story of two mischievous kids, George Beard and Harold Hutchins, who hypnotize their school principal and turn him into their comic book creation, Captain Underpants.

"This is a joyous day for the countless Captain Underpants fans at our studio," said Bill Damaschke, DreamWorks Animation's Chief Creative Officer. "We are thrilled that Dav has decided the time is right to turn his beloved property into a movie and we look forward to bringing the greatest Waistband Warrior of all time to the big screen at DreamWorks Animation!"

“I never wanted to do a Captain Underpants movie in the past because, frankly, I worried that a movie might not be able to properly convey what I was trying to do with the books. Then I saw How to Train Your Dragon and the Kung Fu Panda movies. I loved the subtle way that morality and personal responsibility were handled in these very funny and exciting adventures. I felt that DreamWorks Animation would be the perfect home for Captain Underpants,” added Dav Pilkey.

Scholastic first launched the Captain Underpants book series in September of 1997 and there are over 50 million Pilkey books in print in the U.S. alone. Eight Captain Underpants books have been published in 19 countries and several have debuted at #1 on various best-seller lists, including The New York Times and USA Today.

Kassie Evashevski at UTA and Amy Berkower at Writers House are representing Dav Pilkey.

About DreamWorks Animation SKG

DreamWorks Animation creates high-quality entertainment, including CG animated feature films, television specials and series, live entertainment properties and online virtual worlds, meant for audiences around the world. The Company has world-class creative talent, a strong and experienced management team and advanced filmmaking technology and techniques. DreamWorks Animation has been named one of the "100 Best Companies to Work For" by FORTUNE® Magazine for three consecutive years. In 2011, DreamWorks Animation ranks #10 on the list. All of DreamWorks Animation's feature films are now being produced in 3D. The Company has theatrically released a total of 22 animated feature films, including the franchise properties of Shrek, Madagascar, Kung Fu Panda and How to Train Your Dragon.

Caution Concerning Forward-Looking Statements

This document includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company's plans, prospects, strategies, proposals and our beliefs and expectations concerning performance of our current and future releases and anticipated talent, directors and storyline for our upcoming films and other projects, constitute forward-looking statements. These statements are based on current expectations, estimates, forecasts and projections about the industry in which we operate and management's beliefs and assumptions. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Actual results may vary materially from those expressed or implied by the statements herein due to changes in economic, business, competitive, technological and/or regulatory factors, and other risks and uncertainties affecting the operation of the business of DreamWorks Animation SKG, Inc. These risks and uncertainties include: audience acceptance of our films, our dependence on the success of a limited number of releases each year, the increasing cost of producing and marketing feature films, piracy of motion pictures, the effect of rapid technological change or alternative forms of entertainment and our need to protect our proprietary technology and enhance or develop new technology. In addition, due to the uncertainties and risks involved in the development and production of animated feature projects, the release dates for the projects described in this document may be delayed. For a further list and description of such risks and uncertainties, see the reports filed by us with the Securities and Exchange Commission, including our most recent annual report on Form 10-K and our most recent quarterly reports on Form 10-Q. DreamWorks Animation is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, changes in assumptions or otherwise.

SOURCE DreamWorks Animation SKG, Inc.

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