Hollywood actress Anne Hathaway finds hosting the 83rd Academy Awards, "intimidating" and very much like hosting "Saturday Night Live naked." Hathaway will be co-hosting the Oscars with 127 Hours actor James Franco.

Oscar telecast producers Bruce Cohen and Don Mischer announced thet wo as the pick for the Oscar hosting job saying that Franco and Hathaway personify the next generation of Hollywood icons, "fresh, exciting and multi-talented." The selection of young Hollywood stars is seen as a move to increase viewership among the youth.

"It seems like an incredibly cool and exhilarating thing to do," she told the New York Post.

But Hathaway later on realized the extent of the pressure. She told Entertainment Tonight that hosting the Academy Awards is "intimidating" after finding out she is just the fourth woman to host since 1987.

"I found out that I'm one of three women to host since ... I think it was 1987," she told the entertainment Web site.

"Maybe I'm the fourth, I'm not sure. I'm still learning all the amazing statistics that I almost don't want to know because it gets a little bit too intimidating."

Oscar-winner Whoopi Goldberg was the first woman to host the awards show by herself in 1994, hosting the ceremony again in 1996, 1999 and 2002. Talk show host Ellen De Generes was the second woman to host the show in 1997, all by herself. However, Goldie Hawn co-hosted with Chevy Chase and Paul Hogan back in 1987.

But the actress is not one to back out of what she call a "challenge."

"Hosting SNL is just as scary as getting naked on screen then hosting the Oscars is like doing SNL naked. I just think the logic follows that line. So I guess I like a challenge," she told E! Online.

Hathaway recently appeared in Tim Burton's Alice in Wonderland and currently can be seen in Love and Other Drugs, opposite Jake Gyllenhaal. Hathaway's other film credits include Bride Wars, Becoming Jane, The Devil Wears Prada and The Princess Diaries.

She was nominated for an Oscar in 2008 for her lead performance in Rachel Getting Married.

Academy Awards for outstanding film achievements of 2010 will be presented on Sunday, February 27, 2011, at the Kodak Theatre at Hollywood & Highland Center, and televised live on the ABC Television Network. The Oscar presentation also will be televised live in more than 200 countries worldwide.