Confidential Draft Game Show/Reality Format Business November 2007

1 Overall Approach Build a “Base Case” –Include:  Embassy Row existing shows  Embassy Row existing staff (ALL overhead costs)  Assumptions for new SPE U.S. shows (creating a “new” case for number of shows to develop; effectively adjusting aggressive Embassy Row assumptions downward)  Keep Embassy Row assumed 10% EP fee and 10% chargeback  Includes $2MM in a domestic development/acquisition fund (for scripts, advances, sourcing other ideas, etc.) –Assume:  U.S. based development with show formats sold internationally  New headcount (~5 people) to acquire and sell international formats  Development team (~3 people) based in the U.S. Add an “Acquisition Case” on top of the “Base Case” –Include:  Significant acquisitions in years 3, 4 and 5 to build local production capabilities in Latin America, U.K. and others (TBD)

2 SPE Slate/Project Tracker

3 SPE Slate Assumptions New Shows -- Developed Product Network –1 pilot generated every year –1 pilot is picked-up every other year –1 becomes a success every other year –Produce 26 eps on network per year –The successful "big show" airs on network for 2 years before going into 1/2 hour First-run syndication –License format internationally of successful shows –"Looks like Power of 10 Network" First-run Syndicated Show –Begins after 2nd season of successful network show and runs for the remaining life of show + 2 years –Produce 195 eps (39 weeks, 5 eps/week) of first-run show) –"Looks like Crosswords Syndicated Strip" Cable Show (Ex. Reality Show format) –3 pilots generated every year –1 pilot is picked-up every year –1 becomes a success every other year –Produce ~10 eps per season –License format internationally of successful shows –"Looks like a show on GSN/WSOPC" New Shows -- Acquired Product –Acquired Product –1 generated every year –1 becomes a success every other year –Produce ~40 eps per season –License format internationally of successful shows –40% Revenue Share Format Licensing –Sell formats of successful shows starting during Season 2 for the remaining life of show + 2 years –~40 Episodes per format Additional Items to Include –Need to add mobile, internet and other ancillaries

4 SPE Profit & Loss Roll-up

5 SPE Model Assumptions

6 Next Steps Confirm key assumptions for “Base Case” –# of shows and success rate –# of shows licensed internationally –# of acquired product –International format/license fees/acquisition costs –Our assumptions relative to Michael Davies’ Confirm “Acquisition Case” assumptions –Current valuations of int’l production companies –Capacity –Staff Consider market data for number of new and renewed game/reality shows domestically and internationally

7 Appendix

8 Embassy Road Slate/Project Tracker