The Night Before Party is one of the starriest events of Oscar week — but it’s too late to get tickets for Saturday’s Beverly Hills Hotel benefit soiree, which has sold out, according to Motion Picture & Television Fund CEO Ken Scherer. Hosted by MPTF chair Jeffrey Katzenberg, the event serves as the largest money-raiser for the fund, and is expected to bring in more than $5 million. “It sets the tone for the year’s fund-raising,” Scherer said. “It’s a way to engage young Hollywood, and have them be more aware of the fund.” The party is planned for the covered pool area, but can be moved inside if it’s as rainy as it was in 2008. “We have a backup plan if need be,” Scherer said. Host committee members include George Clooney, Sean Penn, Tom Cruise and Katie Holmes. They are confirmed guests, as are Oscar nominees Colin Firth, Morgan Freeman, Jeff Bridges, Meryl Streep and Sandra Bullock, who is both a nominee and a host. Michael Mina is the featured chef. Presenting sponsors Hewlett Packard, Target and L’Oreal have a range of gifts planned for guests: products from L’Oreal, Lancome and Kiehl’s as well as Target guest designer Zac Posen’s bowties and cummerbunds for the gents and dresses, bodysuits and scarves for the ladies. Variety is also a sponsor of the event, which helps the MPTF provide programs and services for 60,000 industry members each year.

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