Sean "Diddy" Combs� Bad Boy Entertainment And MTV Announce Dance Competition Project As Part Of First-Look Production Agreement

Dance Competition Pilot To Spotlight Street Dance Troupes Across the Country

New York, NY � May 24, 2006 � Sean �Diddy� Combs� Bad Boy Entertainment and MTV: Music Television today announced a pilot agreement for an untitled dance competition series. The project will focus on street dance troupes from around the country as they train, compete, and express themselves. Today�s announcement is part of a larger first-look, overall production agreement for future television projects between Bad Boy Entertainment and MTV. Combs will provide executive producer services for the dance competition pilot.

�Dance is one of the truest forms of expression, and there is a new cultural phenomenon emerging in different communities across America � young men and women are forming these dance troupes as a way to stay off the streets and out of the pitfalls of their everyday lives,� commented Diddy. �This show will showcase the drive, determination and expression of this dance generation � picture Rocky but with dance troupes.�

Diddy and MTV have had a highly productive working relationship over the years which has included hosting of the 2005 VMAs, executive producing �Run�s House,� starring in and executive producing �Making the Band 3,� as well as hit music videos, multiple show stopping performances at the VMAs, and the ground-breaking campaign partnership between P. Diddy�s �Vote or Die� and MTV�s �Choose or Lose� during the 2004 presidential election.

Sean �Diddy� Combs, recently declared �One of The Most Influential Businessman In The World� by Time magazine and CNN, and Bad Boy Worldwide Entertainment Group (BBWEG) is one of the world's preeminent urban entertainment companies, encompassing a broad range of businesses including recording, music publishing, artist management, television and film production, recording facility, marketing and advertising, apparel and restaurants. With a collection of businesses whose annual sales are quickly approaching $500 million annually and an employee base that is 600 strong, Mr. Combs is largely responsible for the popular appeal of urban entertainment. Formed in 1994, the flagship company of BBWEG is Bad Boy Records. Today, Bad Boy's annual sales have reached an overall average of $100 million with more than 75 million records sold worldwide by an impressive artist roster which includes multi-platinum acts the Notorious B.I.G., Mase, 112, Dream and P. Diddy; platinum artists Faith Evans, Carl Thomas and Black Rob; gold artists Total and Craig Mack; and promising up-and-coming artists such as G. Dep, Loon and Cheri Denis. Bad Boy recently moved to 1710 Broadway. New York is the corporate headquarters housing all Combs' business entities.

MTV Networks, a unit of Viacom (NYSE: VIA, VIA.B), is one of the world�s leading creators of programming and content across all media platforms. MTV Networks, with more than 100 channels worldwide, owns and operates the following television programming services � MTV: MUSIC TELEVISION, MTV2, VH1, mtvU, NICKELODEON, NICK at NITE, COMEDY CENTRAL, TV LAND, SPIKE TV, CMT, NOGGIN, VH1 CLASSIC, LOGO, MTVN INTERNATIONAL and THE DIGITAL SUITE FROM MTV NETWORKS, a package of 13 digital services, all of these networks trademarks of MTV Networks. MTV Networks connects with its audiences through its robust consumer products businesses and its more than 95 interactive properties worldwide, including online, broadband, wireless and interactive television services and also has licensing agreements, joint ventures, and syndication deals whereby all of its programming services can be seen worldwide.