Viacom Announces $750 Million Debt Offering

Viacom Announces $750 Million Debt Offering

NEW YORK, Oct. 2 /PRNewswire-FirstCall/ -- Viacom Inc. (NYSE:VIA) (NYSE:and VIA.B) today announced that it has agreed to sell $500 million in aggregate principal amount of 6.125% senior notes due 2017 at a price equal to 99.286% of the principal amount thereof (the "Senior Notes") and $250 million in aggregate principal amount of 6.750% senior debentures due 2037 at a price equal to 99.275% of the principal amount thereof (the "Senior Debentures"). The sale of the Senior Notes and the Senior Debentures is expected to close on October 5, 2007. Viacom intends to use the net proceeds of the offering to repay all or a portion of the amounts outstanding under its revolving credit facility and/or its commercial paper program.

The sole book manager for the offering is Deutsche Bank Securities Inc., who also serves as joint lead manager along with Greenwich Capital Markets, Inc. Credit Suisse Securities (USA) LLC serves as senior co-manager on the deal and nabCapital Securities, LLC serves as co-manager on the deal.

Viacom's senior unsecured debt is currently rated BBB by Standard & Poor's, Baa3 by Moody's Investors Service and BBB by Fitch.

A prospectus can be obtained by contacting Viacom Investor Relations at 800-516-4399 or by written request to Viacom Inc., 1515 Broadway, 52nd Floor, New York, New York 10036, Attn: Investor Relations.

About Viacom

Viacom, consisting of BET Networks, MTV Networks and Paramount Pictures Corporation, is the world's leading entertainment content company. It engages audiences on television, motion picture and digital platforms through many of the world's best known entertainment brands, including MTV, VH1, CMT, Logo, Harmonix, Nickelodeon, Noggin, Nick at Nite, AddictingGames, Neopets, COMEDY CENTRAL, Spike TV, TV Land, AtomFilms, Gametrailers, BET, Paramount Pictures, DreamWorks and Paramount Vantage. Viacom's global reach includes more than 130 channels and over 280 online properties in 160 countries and territories.

For more information about Viacom and its businesses, visit www.viacom.com.

Cautionary Statement Concerning Forward-Looking Statements

This news release contains both historical and forward-looking statements. All statements which are not statements of historical fact are, or may be deemed to be, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 as amended. These forward-looking statements are not based on historical facts, but rather reflect the Company's current expectations concerning future results and events. Forward-looking statements generally can be identified by the use of statements that include phrases such as "believe," "expect," "anticipate," "intend," "plan," "foresee," "likely," "will" or other similar words or phrases. Similarly, statements that describe the Company's objectives, plans or goals are or may be forward-looking statements. These forward-looking statements involve known and unknown risks, uncertainties and other factors that are difficult to predict and which may cause the actual results, performance or achievements of the Company to be different from any future results, performance and achievements expressed or implied by these statements. These risks, uncertainties and other factors include, among others: advertising market conditions and developments in the Company's markets worldwide and, in particular, for advertisements targeting demographics served by the Company's programming services and other content outlets; the public acceptance of and ratings for the Company's movies, cable television programs, digital services and other content; competition for advertising dollars from search and other online and wireless-based services and content providers; technological developments and their effect in the Company's markets and on consumer behavior; the Company's ability to successfully launch its programming services and other content to new distribution platforms; changes in the Federal communications laws and regulations applicable to cable operations, including the possibility of mandatory a la carte programming; the impact of piracy on the Company's programming and films; the impact of increased scale in parties involved in the distribution of the Company's products and programming services to consumers; other domestic and global economic, business, competitive and/or regulatory factors affecting the Company's businesses generally; and other factors described in the Company's news releases and filings with the Securities and Exchange Commission, including but not limited to the Company's 2006 Annual Report on Form 10-K and Reports on Form 10-Q and Form 8-K. The forward-looking statements included in this document are made only as of the date of this document, and, under Section 27A of the Securities Act and Section 21E of the Exchange Act, the Company does not have any obligation to publicly update any forward-looking statements to reflect subsequent events or circumstances.

FCMN Contact: kristin.heitmann@viacom.com

Source: Viacom Inc.

CONTACT: Media, Jeremy Zweig, +1-212-846-7503, Jeremy.Zweig@viacom.com,
or Investors, James Bombassei, +1-212-258-6377, James.bombassei@viacom.com,
both of Viacom, Inc.

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

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Profile: International Entertainment