Ridley Scotts Gladiator has recieved 12 nominations including best film. Traffic, Chocolat, Erin Brockovich and Crouching Tiger, Hidden Dragon are in the running for Best Film.
BBC News report:
Steven Soderbergh has been nominated twice for best director, for drug drama Traffic and Erin Brockovich, about a class action lawsuit.
He repeats Francis Ford Coppola's feat, who was nominated twice in 1975 for Conversation and The Godfather: Part II, winning the Oscar for the second film.
The nominees will stay on tenterhooks until the Oscars ceremony on 25 March, hosted by comic actor Steve Martin.
British director Stephen Daldry is also up for an Oscar for his first film, Billy Elliot, but it failed to land a nomination for best picture.
Ridley Scott, also British, is also up for best director for Gladiator, having already won a Golden Globe for the film.
Ang Lee is also nominated for Taiwanese martial arts drama Crouching Tiger, Hidden Dragon, which is now the biggest-grossing foreign film in the US and the UK.
Previous Oscar nominees Tom Hanks and Russell Crowe are up for the best actor category for Cast Away and Gladiator.
If Hanks wins, it will be his third best actor Oscar.
Geoffrey Rush, who won an Oscar for Shine, is also in the running for the costume drama Quills.
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