Abbey Gardy, LLP Updates DreamWorks Animation SKG, Inc. Shareholders

Abbey Gardy, LLP Updates DreamWorks Animation SKG, Inc. Shareholders

NEW YORK, July 15 /PRNewswire/ -- Abbey Gardy, LLP represents purchasers of DreamWorks Animations SKG, Inc. ("DreamWorks" or the "Company") (NYSE:DWA)(NYSE:-)(NYSE:News) common stock between October 27, 2004 and May 10, 2005, inclusive (the "Class Period") in a class action filed in the United States District Court for the Central District of California.

On May 10, 2005, DreamWorks announced that Shrek 2 did not meet the company's retail sales expectations for the first quarter. The Company reported for the first time that the "sales shortfall resulted in a higher level of returns than expected. As a result, DWA recorded no revenue from Shrek 2 in the quarter other than from licensing and merchandising." On this news the price of DreamWorks stock dropped from $36.50 to close at $32.05.

On July 11, 2005, DreamWorks disclosed that the Securities and Exchange Commission is conducting an informal inquiry into trading of its securities and its first quarter earnings announcement.

DreamWorks also acknowledged that its DVD problem appears to be wider than just one film and one market. Sales of Shrek 2 and DreamWorks other 2004 release out on home video, Shark Tale are falling short of forecasts both at home and overseas. On this news DreamWorks stock dropped to $22.96, its lowest level since the Company's initial public offering in 2004.

Plaintiff seeks to recover damages on behalf of all those who purchased or otherwise acquired DreamWorks securities during the Class Period. If you purchased or otherwise acquired DreamWorks securities during the Class Period, and either lost money on the transaction or still hold the securities, you may wish to join in the action to serve as lead plaintiff. If you purchased DreamWorks securities during the Class Period, you may, no later than August 1, 2005 request that the Court appoint you as lead plaintiff.

If you would like to discuss this action or if you have any questions concerning this Notice or your rights as a potential class member or lead plaintiff, you may contact:

Susan Lee or Nancy Kaboolian, Esq. Abbey Gardy, LLP 212 East 39th Street New York, New York 10016 (212) 889-3700 (800) 889-3701 (Toll Free) Or e-mail Susan Lee at slee@abbeygardy.com

Source: Abbey Gardy, LLP

CONTACT: Susan Lee, slee@abbeygardy.com or Nancy Kaboolian, Esq., both of Abbey Gardy, LLP, +1-212-889-3700, toll-free, 1-800-889-3701

Web site: http://www.abbeygardy.com/

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