Michelle Monaghan and Susan Sarandon are set to team up for the thriller Still of the Night.  Exclusive Media announced today that it would produce and finance the pic, written and to be directed by Jonathan Mostow (Terminator 3: Rise of the Machines).  Monaghan stars as a career woman who sets out to investigate the mysterious disappearance of her sister.  She ends up matching wits with a devious criminal, played by Sarandon, in order to save her and her sister.  If memory serves me right, Sarandon has never played such a straight-up villain before (I’m counting Stepmom as a half-villain).  It should be interesting to see the two talented actresses square off.

Mostow’s last film, the 2009 sci-fi actioner Surrogates, wasn’t exactly a runaway hit with critics or audiences, but he’s off to a great start on Still of the Night by nabbing actors of Monaghan and Sarandon’s caliber.  Hit the jump to read the press release.

Here’s the press release:

Cannes, France (May 18, 2012) – Exclusive Media will finance and produce the new thriller STILL OF NIGHT, written and to be directed by Jonathan Mostow (TERMINATOR 3, U-571, BREAKDOWN) and starring Michelle Monaghan (SOURCE CODE) with Academy Award winner Susan Sarandon (DEAD MAN WALKING) in final negotiations to star, it was announced today by Exclusive Media Co-Chairmen, Nigel Sinclair and Guy East.

Exclusive Media will produce the film alongside writer/director Jonathan Mostow and Steve Alexander.

A paranoia thriller that builds to a pulse-pounding crescendo, STILL OF NIGHT is a smart, stylish ride packed with shocking twists that will give you nightmares - because it could actually happen to you. Katie Tyler (Michelle Monaghan) is an aspiring career woman with everything finally falling into place…until her sister Gwen disappears.  Fully aware of Gwen’s tainted past and suddenly left to take care of her young daughter, Katie sets out determined to bring her back.  But as she traces Gwen’s last whereabouts, Katie begins to suspect foul play, and soon finds herself tangled in the midst of a dangerous conspiracy with cruel and inhumane consequences.  Trapped and running out of time, Katie must outwit a devious criminal (Susan Sarandon) to save herself and her sister – before it’s too late.

Matt Jackson, Exclusive Media’s Executive Vice President and Head of US Production, will oversee production on the project which is scheduled to start shooting in August 2012.

“Michelle and Susan are two of the industry’s most versatile actresses and they are perfect for STILL OF NIGHT, said Jackson.  “Audiences love them and coupled with Jonathan’s edge of your seat script give us a great combination for today’s ever sophisticated marketplace,” he continued.

Alex Walton, Exclusive Media’s President of International Sales and Distribution, will be launching STILL OF NIGHT for the first time to international buyers at the Marché du Film in Cannes.  CAA is representing North American rights.

“I am thrilled to be collaborating with the Exclusive Media team and Steve Alexander,” said Jonathan Mostow. “We feel incredibly lucky to have Michelle Monaghan and Susan Sarandon in the movie as they both bring extraordinary credibility and soulfulness to every role they inhabit, which is why they are the perfect fit for the characters I wrote,” he continued.

“I am a huge fan of Jonathan Mostow’s previous thrillers and action films. He has written an intense script with STILL OF NIGHT featuring ordinary characters in extraordinary circumstances which audiences will certainly relate to,” said Steve Alexander.

Michelle Monaghan starred in last year’s critically acclaimed sci-fi thriller SOURCE CODE directed by Duncan Jones and co-starring Jake Gyllenhaal. She received rave reviews for her breakout roles in KISS KISS BANG BANG opposite Robert Downey Jr. and the indie film TRUCKER for which she received the Best Actress Award from the San Diego Film Critics Society. Her other screen credits include the box-office hit EAGLE EYE co-starring Shia LaBeouf, Marc Forster's MACHINE GUN PREACHER with Gerard Butler, Sofia Coppola's SOMEWHERE, Niki Caro's NORTH COUNTRY opposite Charlize Theron and Frances McDormand, GONE BABY GONE with Casey Affleck and Morgan Freeman, and  J.J. Abrams’ MISSION: IMPOSSIBLE III co-starring Tom Cruise.  She has also starred in the hit comedies MADE OF HONOR with Patrick Dempsey, THE HEARTBREAK KID with Ben Stiller, and DUE DATE, again opposite Robert Downey Jr. Upcoming she stars in Joseph Ruben's PENTHOUSE NORTH co-starring Michael Keaton, David Jacobson's TOMORROW YOU’RE GONE with Stephen Dorff, GUS opposite Radha Mitchell, and BETTER LIVING THROUGH CHEMISTRY co-starring Sam Rockwell and Olivia Wilde.

Susan Sarandon is one of the most Oscar nominated actresses of all time with five nominations to her name. She won the Academy Award for Tim Robbin’s DEAD MAN WALKING and is known for her iconic roles in such films as THELMA & LOUISE, THE ROCKY HORROR PICTURE SHOW and THE CLIENT.  She was last seen in this year’s JEFF, WHO LIVES AT HOME co-starring Jason Segel. She has several upcoming films including Roadside Attractions’ fall release of ARBITRAGE opposite Richard Gere and Tim Roth, Sundance hit ROBOT & FRANK starring Frank Langella due in theatres in August which Exclusive Media is selling internationally and Lionsgate’s THE WEDDING with Robert De Niro, Diane Keaton and Robin Williams hitting screens in October. Susan Sarandon’s films in post-production include Exclusive Media’s SNITCH opposite Dwayne Johnson to be released in the US through Summit Entertainment, CLOUD ATLAS with Tom Hanks and Halle Berry for Warner Bros. Pictures and Robert Redford’s THE COMPANY YOU KEEP.

Jonathan Mostow most recently directed the sci-fi thriller, SURROGATES, starring Bruce Willis, Radha Mitchell and Rosamund Pike released by Disney in 2009. He previously directed Warner Bros. Pictures’ TERMINATOR 3: RISE OF THE MACHINES, the third installment in the TERMINANTOR franchise starring Arnold Schwarzenegger, Nick Stahl and Claire Danes. He also wrote and directed Universal Pictures’ World War II adventure, U-571 starring Matthew McConaughey, Bill Paxton and Harvey Keitel which was nominated for two Oscars and won for Best Sound Editing as well as the critically acclaimed suspense thriller BREAKDOWN starring Kurt Russell, J.T. Walsh and Kathleen Quinlan released by Paramount Pictures. He just produced the romantic comedy PLAYING THE FIELD starring Gerard Butler, Jessica Biel, Uma Thurman, Catherine Zeta-Jones, Dennis Quaid and Judy Greer, which is directed by Gabrielle Muccino and is set for a 2012 Christmas release via FilmDistrict. He also wrote the story for HOUSE AT THE END OF THE STREET, a Hitchcockian thriller starring Jennifer Lawrence, coming to theatres in September through Relativity Media.

Steve Alexander executive produced the action/adventure SEASON OF THE WITCH starring Nicolas Cage, Ron Perlman and Claire Foy released in 2011 by Relativity Media. He previously produced CAFÉ SOCIETY starring Frank Whaley, Peter Gallagher and Lara Flynn Boyle as well as the comedy SWIMMING WITH SHARKS starring Kevin Spacey, Frank Whaley and Michelle Forbes.

Exclusive Media is a major force in the production and international distribution arena. Its current production slate, available to buyers at Cannes, include the newly announced A WALK AMONG THE TOMBSTONES starring Liam Neeson; AGENT: CENTURY 21 starring Cameron Diaz and Benicio Del Toro; Ron Howard’s epic RUSH starring Chris Hemsworth and Daniel Brühl and produced with production partners Cross Creek Pictures, Imagine Entertainment, Working Title, Brian Grazer, and Revolution Films to be released in the US through Universal; THE QUIET ONES, to be directed by John Pogue and starring Jared Harris and Sam Claflin; END OF WATCH starring Jake Gyllenhaal, Michael Peña, Anna Kendrick and America Ferrera set for release through Open Road Films on September 28; SO UNDERCOVER starring Miley Cyrus and SNITCH.

Exclusive Media will be offering a number of high profile third party productions at Cannes 2012 which currently include LOOK OF LOVE starring Annette Bening, Ed Harris and Robin Williams, from producers Julie Lynn and Bonnie Curtis of Mockingbird Pictures; THÉRÈSE from producers Mickey Liddell and William Horberg, starring Jessica Lange, Elizabeth Olsen, Tom Felton and Oscar Isaac; HIT AND RUN (aka OUTRUN) from writer/director Dax Shepard who also stars with Kristen Bell, Bradley Cooper and Tom Arnold to be released in the US by Open Road Films on August 24;  the ensemble DISCONNECT also produced by Horberg and Liddell with Jennifer Hilton and the aforementioned ROBOT & FRANK.

Michelle Monaghan is represented by ICM and DF Management with Susan Sarandon also repped by ICM.