World Focuses on Hollywood's Biggest Night

Copyright 2009 Jewel Samad / Getty Images

The red carpet has been rolled out to showcase the world's biggest stars at the 81st annual Academy Awards ceremony, which this year promises some new surprises!

All eyes are on the rags-to-riches romance 'Slumdog Millionaire,' which has steadily gained momentum for Best Picture after already racking up a host of other awards. Also vying for the top prize: 'The Curious Case of Benjamin Button,' 'Frost/Nixon,' 'Milk' and 'The Reader.'

In a departure from comedians hosting the Oscars telecast, producers this year tapped actor Hugh Jackman to preside over the broadcast, which has lagged in the ratings in recent years. Jackman is expected to try to dazzle audiences with his acting and musical talents and by involving audience members with him onstage. Click here for a behind-the-scenes scoop Jackman gave ET's Kevin Frazier.

The 81st annual Academy Awards show airs tonight on ABC at 8 p.m. EST and 5 p.m. PT. Keep checking ETonline for all the latest coverage -- from the glamorous red carpet arrivals to the award announcements and acceptance speeches.

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