Robert Downey Jr, nominated in the best supporting actor category for Tropic Thunder acknowledged the movie he was nominated for had a bit of a dig at ceremonies like the Oscars, but said he personally enjoyed the events.
"I've been doing it (acting) for 25 years now. Hopefully I'm worth my salt at this point," he told Seacrest.
2.02pm: Angelina Jolie and Brad Pitt have arrived on the red carpet. Pitt told Seacrest it was nice to be attending a ceremony where both he and Jolie were nominated.
Kate Winslet - nominated in the best actress category for The Reader - confessed she was very nervous, despite having won a stack of awards in recent weeks.
"I'm very nervous; these moments are really overwhelming and very exciting," she said.
1.53pm: Best actor nominee Mickey Rourke, who lost his chihuahua Lokie last week has nonetheless brought his beloved pooch with him to the Oscars. The Wrestler star appeared to indicate Lokie was inside a locket he is wearing around his neck.
"I'd rather have Lockie for another two years than an Oscar," he confessed to Seacrest.
1.39pm: Whites and creams are shaping up to be the memorable colours on the red carpet at this year's Academy Awards. Anne Hathaway looks radiant in a jewel-encrusted, shimmering white dress and Penelope Cruz is wearing a cream gown with acres of decorative ruching. Also wearing a lighter colour is Jessica Biel, in a very elegant, long satin ivory dress.
1.33pm: Seth Rogen was in no doubt about his role on the red carpet: "Sarah Jessica Parker to me - that's like, every girl's worst nightmare," he commented as Seacrest pulled him aside for a chat.
Big stars milling around now include Marissa Tomei, nominated in the best supporting actress category for The Wrestler, Josh Brolin - who's up for a best supporting actor award for Milk, Jessica Biel and Anne Hathaway.
1.21pm: A disagreement about hues ensued as Sarah Jessica Parker and her husband Matthew Broderick stopped to chat with Seacrest. Asked what colour her Dior haute couture gown was, SJP said she called it "barely mint".
"And what about your suit?" Seacrest asked Broderick. "Is that barely black?"
Broderick agreed it was before being put straight by his wife: "No, it's midnight blue; it's Timothy Everest bespoke," she clarified.
Glad we cleared that one up...
1.13pm: Amy Adams, nominated in the best supporting actress category for Doubt, told Seacrest she was honoured to be in the company of some of the film industry's biggest names.
The red carpet is beginning to look rather crowded with Natalie Portman, Diane Lane, Robert Downey Jr and Australian actress Melissa George all spotted in the background.
12.57pm: Best supporting actress nominee Taraji P. Henson made a big impact when she appeared on the red carpet in a stunning full-length white dress, teamed with a bold, statement necklace.
The Curious Case of Benjamin Button star told Seacrest she thought a joke was being played on her when she received the call to play Brad Pitt's mother in the movie.
Asked whether she had a speech prepared should she win, she said she would ad lib it.
Also spotted on the red carpet: Heidi Klum and Seal, Revolutionary Road best supporting actor nominee Michael Shannon and Slumdog Millionaire director Danny Boyle.
12.51pm: Seacrest is speaking with cast members from this year's breakthrough hit Slumdog Millionaire. Stars Dev Patel and Freida Pinto denied rumours of a relationship between the two of them.
"I've been waiting for you to ask me out," Pinto, who is wearing a gorgeous sheer blue John Galliano dress, shot back at Seacrest.
12.44pm: More information about the proceedings at today's Academy Awards is beginning to filter through. According to E! channel, many of the award presenters won't be making an appearance on the red carpet beforehand. Past Oscar winners are tipped to be among the presenters.
12.36pm: High School Musical stars Zac Efron and Vanessa Hudgens both have official duties at the awards show, but they were staying tight-lipped when questioned by Seacrest about what their performances entailed.
Hudgens was channelling another star in her Marchesa gown, which the designer altered especially for her from a shorter number into a full-length gown.
"I'm in love with her (Marchesa), she's the best," Hudgens said.
"I feel like a young Audrey Hepburn."
12.19pm: Miley Cyrus' dress is winning early praise from fashion commentators watching the Academy Awards red carpet. The belted number which falls in petal-style layers from the waist was a bold choice for the young star but it appears to have paid off. Cyrus joked to Seacrest that she thought the gown weighed more than she did.
Also spotted on the red carpet so far are Dominic Cooper from Mama Mia! and Slumdog Millionaire's Dev Patel.
12.08pm: The biggest day of the Hollywood calendar is underway outside the Kodak Theater in Los Angeles. On the red carpet for E! channel are perennial Oscar red carpet presenters Ryan Seacrest and Giuliana Rancic.
Hannah Montana star Miley Cyrus is one of the first to arrive and will speak with Seacrest shortly.
Meanwhile, Rancic has just revealed that The Simple Life star Nicole Richie is pregnant again. Richie already has a one-year-old daughter Harlow with her partner Joel Madden.
