VIACOM PLUS TO CONTINUE AFTER COMPANY SEPARATION

In-House Marketing & Biz Dev Team Rebranded as CBS/Viacom Plus; Will Continue To Serve Both CBS Corp. and Viacom Inc.

New York, NY-- Jan. 23, 2006-- CBS Corporation (NYSE: CBS.A and CBS) and Viacom, Inc. (NYSE: VIA and VIA.B) jointly announced today that Viacom Plus -- the marketing and business development team that represented the two companies' portfolios -- will be rebranded CBS/Viacom Plus, and that it will continue to serve divisions and brands of both companies. Prior to the separation of Viacom, the unit was actively engaged in creating and implementing numerous branded entertainment and creative media marketing initiatives across the combined company. Based on the success of those programs, CBS Corporation and Viacom, Inc. have jointly decided to continue operating the division, and that Lisa McCarthy will continue to lead the operations of CBS/Viacom Plus as Executive Vice President. The announcement was made by Leslie Moonves, President and CEO, CBS Corporation, and Tom Freston, President and CEO, Viacom, Inc.???

"CBS/Viacom Plus has truly lived up to its promise to create value both for our company and for our clients," said Moonves. "Lisa and her team have excelled in designing and implementing unique, marketing programs for clients across numerous platforms, including its landmark deal with P&G. There continues to be a great need for thinking like this in the advertising community, and CBS/Viacom Plus is one of the few teams that has been truly successful."

Said Freston, "CBS/Viacom Plus is unique in its ability to help marketers navigate a broad portfolio of extraordinarily powerful assets to utilize them in the most effective way possible. They have been able to provide solutions for our clients that include branded content, wireless and VOD by working closely in-step with the programming, marketing and sales teams throughout our company. I am a firm believer in their function, and we're all very pleased to have Lisa and her team continuing to work with us."

"Marketers and media companies are more challenged than ever to emotionally connect with consumers, and the CBS/Viacom Plus model aligns us in a way that addresses these challenges together," said McCarthy. "We are committed to using strategic, non-traditional ways to enable our clients to build their businesses, spread their messages and better connect with their customers. Our name may have changed, but our core mission and function has not."

CBS/Viacom Plus was created seven years ago.? As the media landscape has rapidly evolved and communications planning has become more critical, CBS/Viacom Plus' expertise has only become more relevant.? As an industry leader, they have worked with forward-thinking marketers such as Procter & Gamble, AT&T, Johnson & Johnson,

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General Motors, HP, Home Depot, Bank of America, Chrysler and Snapple.

As an example of their work, in 2001, CBS/Viacom Plus announced a groundbreaking partnership with Mediavest and Procter & Gamble, becoming the conglomerate's primary point of contact for all business across CBS and Viacom. Since then, the team has designed and implemented numerous customized marketing platforms and managed the media needs for P&G's brands, including sponsorships, branded content and digital innovation.

One of their most successful programs involves Cover Girl and UPN's AMERICA'S NEXT TOP MODEL, now entering their fourth season together.? Components include multiple, relevant and organic Cover Girl brand integrations, Cover Girl of the week voting opportunities and various digital components, including an original broadband live show, "Cover Girl's Talk Model." Winners of AMERICA'S NEXT TOP MODEL receive a Cover Girl contract which begins with a national Cover Girl print ad in People magazine or US Weekly, produced in the TV finale. Another innovative element is "My Life as a Cover Girl" vignettes that follow the past season's winner launching her career as a Cover Girl, running in commercial time.?

"Our colleagues at [CBS/Viacom Plus] have truly embraced an innovative, collaborative approach to activating new concepts and models, particularly in the branded content arena," said Laura Desmond, chief executive officer of Mediavest USA. "They constantly explore with us fresh and unchartered approaches to traditional media, and they share our belief that collaboration, creativity and commitment are the three key ingredients to making new ideas happen."

CBS Corporation (NYSE: CBS.A and CBS) is a mass media company with constituent parts that reach back to the beginnings of the broadcast industry, as well as newer businesses that operate on the leading edge of the media industry. The Company, through its many and varied operations, combines broad reach with well-positioned local businesses, all of which provide it with an extensive distribution network by which it serves audiences and advertisers in all 50 states and key international markets. It has operations in virtually every field of media and entertainment, including broadcast television (CBS and UPN), cable television (Showtime), local television (CBS Television Stations), television production and syndication (Paramount Television and King World), radio (CBS Radio), advertising on out-of-home media (CBS Outdoor), publishing (Simon & Schuster), theme parks (Paramount Parks), digital media (CBS Digital Media Group and CSTV Networks) and consumer products (CBS Consumer Products). For more information, log on to www.cbscorporation.com.

Viacom Inc. is one of the leading global entertainment content companies, with prominent and respected brands in focused demographics across virtually all media.? Offering programming and content for television, motion pictures and digital platforms, Viacom's world-class brands include MTV Networks (MTV, VH1, Nickelodeon, Nick at

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Nite, Comedy Central, CMT: Country Music Television, Spike TV, TV Land, Logo and more than 100 networks around the world), BET, Paramount Pictures, Paramount Home Entertainment and Famous Music.? In December 2005, Viacom entered into a definitive agreement to acquire DreamWorks SKG.? More information about Viacom and its businesses is available at www.viacom.com.

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Press Contacts:
David Bittler Viacom 212/846-5263 Shannon Jacobs CBS Corporation 212/975-3161

CBS/Viacom Plus...