Anne Hathaway Thrilled but Stunned to Be Hosting Oscars

11/30/2010 at 11:00 AM EST

Anne Hathaway Thrilled but Stunned to Be Hosting Oscars
Anne Hathaway
Andy Fossum/Startrak
She's no Billy Crystal, Ellen DeGeneres, Chris Rock or Hugh Jackman. But maybe that's the point.

"I could not even begin to fathom their thought process," Anne Hathaway told PEOPLE of Oscar producers' choice of her and James Franco to be the co-hosts of the Academy Awards next year.

Not that she isn't grateful. Asked if she's excited about co-hosting one of the world's most-watched telecasts, she replied with an enthusiastic, "Yes!"

Speaking with PEOPLE on her way to the 20th Annual Gotham Independent Film Awards, hosted by Euphoria Calvin Klein, in New York on Monday, the actress, 28, added that she's thrilled to be paired with Franco, 32. "Beyond," she said. "I can't go into anything about it ... just that I'm doing it with him."

Still, she can't speak for the producers about why they chose her. "You'd have to ask them," she said.

For their part, Bruce Cohen and Don Mischer, producers of the ABC telecast, had this to say about their hosts: "We hope to create an Oscar broadcast that will both showcase their incredible talents and entertain the world on Feb. 27."

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