HOLLYWOOD, Calif., Sept. 24 -- Paramount Pictures has reached an agreement to acquire the worldwide film rights to Midway Games' (NYSE: MWY) Fear & Respect, a state-of-the-art videogame based in the intense urban environment of South Central Los Angeles. Currently being developed in collaboration with writer/director John Singleton (Boyz N the Hood, Baby Boy, 2 Fast 2 Furious, Shaft), the exciting urban/action adventure game is scheduled to be available in the fourth quarter of 2005 for the PlayStation(R)2 computer entertainment system and the Xbox(R) video game system from Microsoft. Christine Peters (How to Lose a Guy in 10 Days) will be collaborating with the game developer to produce the film.

"Fear & Respect brings the unique urban experience of South Central Los Angeles to the gaming world in a way that is both realistic and exciting," says Peters. "I'm thrilled to be working with Midway Games to turn this riveting game into an equally exciting major motion picture."

Fear & Respect, is a "3rd person" video game about a young man who has to make survival choices in the urban world of Los Angeles: Does he survive by inspiring fear, or does he survive by inspiring respect in the characters he encounters -- and what lessons does he teach by his actions? The decisions the player makes influences the events (and ultimately the outcome) of the story.

Paramount Pictures is part of the entertainment operations of Viacom Inc., one of the world's largest entertainment and media companies and a leader in the production, promotion and distribution of entertainment, news, sports and music.

Midway Games Inc. is a leading developer, publisher and marketer of interactive entertainment software. Midway videogames are available for play on all major video game platforms, including the PlayStation(R)2 computer entertainment system, Xbox (TM) video game system from Microsoft, Nintendo GameCube(TM) and Game Boy (R) Advance. "Fear & Respect" is a trademark of Midway Home Entertainment Inc.