The US show features Dunaway, who starred in classics including 'Bullitt', 'Bonnie and Clyde' and 'Chinatown', as one of the judges who will whittle down the 10 wannabes to just one.
The winner's prize will include a potentially career-launching role in Warner Brothers' drama 'One Tree Hill', which is screened in the UK on E4, as well as a management contract with 3 Arts Entertainment and an overall talent deal with Warner Bros.
During the series, the contestants will be put through what producers are calling "an intense Hollywood boot camp", which will operate out of the former home of Marilyn Monroe, in which they will screen test scenes from shows and films including 'The Bodyguard' and 'Smallville'.
Other judges on 'The Starlet' are Vivica A Fox, who starred in 'Kill Bill Vol 1' and 'Independence Day', and casting director Joseph Middleton, whose credits include 'Legally Blonde' and 'The Bourne Identity'.
The show is presented by Katie Wagner, daughter of Robert Wagner, and runs for six weeks, with wannabes eliminated each week until three are left for the final episode. Dunaway starred in 'A Towering Inferno' alongside Robert Wagner.
Contestants include 21-year-old Neva, who says on the show: "I'm smart, I'm beautiful and talented and always win, I work the hardest and I kill all the competition... literally... I poison them."
Living TV's other reality and talent shows include 'Britain's Next Top Model', 'Extreme Makeover' and 'Jade's Salon', featuring Jade Goody.
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