MTV & Electus Announce Series Development on First-ever Interactive Telenovela, 'Pedro & Maria'

Award-winning actress America Ferrera to executive produce; Author of Tony Award-winning musical Quiara Alegria Hudes to write the script and executive produce -

NEW YORK, April 12, 2010 - Ben Silverman's next generation multimedia studio, Electus, an operating
business of IAC (Nasdaq: IACI), and MTV today announced their plan to
actively develop and produce the first-ever multicultural, interactive series
built for the digital age for MTV. Emmy and Golden Globe-winning
actress America Ferrera will executive produce the series with her production
company, Take Fountain. Quiara Alegria Hudes, the author of the Tony
award-winning Broadway musical "In the Heights," will write the script and
executive produce, and Ian Kleinert and Jarred Weisfeld of Objective
Entertainment will co-executive produce. Procter & Gamble Productions has
also signed on to produce and lend creative support to the innovative content
and production initiative.

The collaboration between world-renowned producers, writers, a major
television network and one of the top global marketers marks the creation of
a groundbreaking new production marketing model geared toward a burgeoning
demographic. Electus will own all international distribution rights for
"Pedro & Maria" including television, motion picture and digital. Created and
executive produced by Ben Silverman, "Pedro & Maria" is the first-ever
interactive Telenovela, developed for both television and the web. The show
is a bilingual, modern day Romeo & Juliet that will, for the first time, give
audience members the ability to vote and decide on the direction the
characters and story lines will take. MTV and Electus will partner and
utilize digital platforms including Facebook, Twitter and other social
networking sites (in both English and Spanish), allowing viewers to actively
participate in the show's outcome.

"World class marketers, content creators and top producers are beginning
to recognize that their individual success relies heavily on their ability to
join forces to create content platforms that are both engaging and
entertaining, while over delivering a compelling message for their audience,"
said Ben Silverman, CEO of Electus. "America Ferrera, MTV and P&G are leading
this charge alongside us with a groundbreaking new interactive platform that
allows us to tap into this growing and important demographic."

"'Pedro & Maria' comes to us from a trifecta of talent in Ben, America
and Quiara, who collectively will bring this youthful, contemporary Latino
romantic story to life. The added collaboration with Proctor and Gamble makes
this a unique project that perfectly complements our scripted slate and the
overall creative diversity at MTV. The Latino population is an
under-represented and under-served segment of the audience, and I am excited
to help bring this relevant show to MTV," said David Janollari Executive Vice
President, Scripted Development, MTV.

Procter & Gamble Productions will serve as a co-producer with MTV and
Electus for "Pedro & Maria," creating original commercials and unique,
branded entertainment opportunities for several of P&G's beauty and health
brands in and around the show and across multiple media platforms, including
television and digital.

"Electus is at the forefront of the evolution of content and by
partnering with them for a project like 'Pedro & Maria' we can truly explore
innovative and creative branded entertainment opportunities for a
multicultural audience," said Rich DelCore, Director of Branded Entertainment
at P&G. "Ben has played a critical role in transforming the traditional
advertising model and creating unique links and unprecedented collaboration
between content production, advertising, and marketing across the board and
we are thrilled to be working with him on this project."

Capitalizing on the ever-evolving world of multimedia production and
distribution, Electus is the industry's first non-traditional entertainment
studio that connects advertisers, distributors and content creators early on
in the development process, enabling sponsors to be a partner in campaigns
and content creation.

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, the studio
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.

About IAC

IAC operates more than 50 leading and diversified Internet businesses
across 30 countries… our mission is to harness the power of interactivity
to make daily life easier and more productive for people all over the world.
To view a full list of the companies of IAC please visit our website at
www.iac.com.

About MTV

MTV is the dynamic, vibrant experiment at the intersection of music,
creativity and youth culture. For over 28 years, MTV has evolved, challenged
the norm, and detonated boundaries — giving each new generation a creative
outlet and voice that entertains, informs and unites on every platform and
screen. On-air, MTV is the number one rated full-day ad-supported cable
network for P12-24 and P12-34. Online, MTV.com averaged 24.5 million monthly
unique visitors during the first quarter of 2010 — up +8% from Q4/2009 and
up +13% year-over-year. Average video streams for the first quarter of 2010
increased +8% from the Q4/2009 and is up +6% over the same time period last
year. And MTV's successful sibling networks MTV2 and mtvU each deliver
unprecedented customized content, super-serving young males, music fans, and
college students like no one else. MTV is part of MTV Networks, a unit of
Viacom (NYSE: VIA, VIA.B), one of the world's leading creators of programming
and content across all media platforms. Wanna know more? Come on in…
www.mtvpress.com

About Procter & Gamble Productions

For the last 75 years, Procter & Gamble Productions has been at the
forefront of creating powerful, emotional relationships between consumers and
brands. Through the development of original content, PGP has utilized the
most advanced technology of each era to generate innovative properties,
ranging from soap operas on the radio and early television to award shows to
fast-growing web ventures. Current PGP properties include daytime drama "As
The World Turns," "The People's Choice Awards," and original content websites
such as Petside.com, DinnerTool.com and LifeGoesStrong.com. For more
information, visit www.proctergambleproductions.com.

    Contact Information:
    --------------------
    IAC Communications
    Leslie Cafferty
    +1-212-314-7326
    leslie.cafferty@iac.com

    Electus
    Sunshine, Sachs & Associates
    Jessica Berger/Sara Vicendese
    +1-212-691-2800/ +1-310-275-3222
    berger@sunshinesachs.com/vicendese@sunshinesachs.com

    MTV Network
    Ariana Urbont
    +1-310-752-8079 / +1-310-752-8076
    ariana.urbont@mtvstaff.com

    Procter & Gamble
    Jeannie Tharrington
    +1-513-698-4607
    Tharrington.jm@pg.com

IAC Communications, Leslie Cafferty, +1-212-314-7326, leslie.cafferty at iac.com; Electus, Sunshine, Sachs & Associates, Jessica Berger, +1-212-691-2800, berger at sunshinesachs.com, or Sara Vicendese, +1-310-275-3222, vicendese at sunshinesachs.com; MTV Network, Ariana Urbont, +1-310-752-8079, +1-310-752-8076, ariana.urbont at mtvstaff.com; or Procter & Gamble, Jeannie Tharrington, +1-513-698-4607, Tharrington.jm at pg.com