The 79th Annual Academy Awards (more commonly known as the Oscars) are quickly approaching and there's no better place to get all the juicy details than here. We have all the latest news on the prestigious event as well as some of the exclusive reactions from this year's nominees. Jennifer Hudson, Kate Winslet, Leonardio Dicaprio and the cast of "Blood Diamond" react to the good news as Ellen prepares to host one of the world's most popular awards shows.

Jennifer Hudson was shocked when she heard she was nominated for a Golden Globe Awards, even more shocked when she won and is now absolutely stunned to find out that she's in the running for an Oscar. "I'm sitting here in shock right now" says Hudson, who felt as though the news of her nomination was "proof that faith is powerful".

Kate Winslet was just as pleased as Hudson to find out that she was nominated. Winslet is a top contender for this year's best actress award. "I've been laughing, crying, hollering, whooping and leaping around" says Kate "I was told the only way I'd have a career as an actress would be if I could settle for playing fat girls". Well Kate proved those people wrong - this is her 5th Academy Award nomination for Best Actress.

Leonardo Dicaprio and the cast of his new movie "Blood Diamond" congratulated each other with a group hug. The ultra-tight cast is excited to be nominated for such a prestigious award.

As the Oscar's approach the women will scramble to find the ultimate dress. The red carpet pre-show is often the best part of the night - so check back here for all the hits and misses on this year's red carpet.