Metro-Goldwyn-Mayer Pictures is putting into development a musical remake of MGM's classic 1983 comedy VALLEY GIRL as a feature film based on an idea by Idealogy, Inc.'s Sean Bailey and Matt Smith. The announcement was made today by Mary Parent, Chairman, Worldwide Motion Picture Group.

Utilizing the classic Romeo and Juliet story of the original VALLEY GIRL, the update will be a musical set to a re-imagination of classic '80's songs.

Bailey, who most recently produced Gone Baby Gone for Miramax Films, will produce VALLEY GIRL through Idealogy, Inc. Bailey currently has several projects at various stages of development and production at Buena Vista Pictures including Tr2n and Liberty. Smith, a production executive at Idealogy, Inc. will serve as Executive Producer on the project. Becky Sloviter, Vice President, Production will oversee the project for MGM.

"I'm thrilled to be in business with the new MGM with the ambition of returning to the great MGM musical legacy," said Bailey. "Matt came up with a dynamic and inventive approach to this title, and we look forward to re- visiting the fun and music of the 80s on-screen."

Known for his popular television series "Project Greenlight," which aired on HBO and Bravo (2002-2005), Bailey is currently developing "The Unlimited," a pilot for ABC Studios. Bailey is also producing Sabbatical and Hexum for Buena Vista. His past credits include Matchstick Men and Best Laid Plans.

Idealogy, Inc. is represented by Endeavor and attorney's Hansen, Jacobson, Teller, Hoberman, Newman, Warren & Richman.

About Metro-Goldwyn-Mayer Inc.:

Metro-Goldwyn-Mayer Inc., through its operating subsidiaries, is actively engaged in the worldwide production and distribution of motion pictures, television programming, home video, interactive media, music and licensed merchandise. The company owns the world's largest library of modern films, comprising around 4,100 titles. Operating units include Metro-Goldwyn-Mayer Studios Inc., Metro-Goldwyn-Mayer Pictures Inc., United Artists Films Inc., Ventanazul, MGM Television Entertainment Inc., MGM Networks Inc., MGM Domestic Networks LLC, MGM Distribution Co, MGM International Television Distribution In, Metro-Goldwyn-Mayer Home Entertainment LLC, MGM ON STAGE, MGM Music, MGM Worldwide Digital Media, MGM Consumer Products and MGM Interactive. In addition, MGM has ownership interests in international TV channels reaching nearly 120 countries. MGM ownership is as follows: Providence Equity Partners (29%), TPG (21%), Sony Corporation of America (20%), Comcast (20%), DLJ Merchant Banking Partners (7%) and Quadrangle Group (3%). For more information, visit .

CONTACT: Jeff Pryor
Executive Vice President/Corporate Communications
Metro-Goldwyn-Mayer Inc.