Life is Beautiful was the second film to be nominated in both the Best Foreign Language Film and Best Picture categories in the same year. The other was Z in 1969, which took home the Oscar for Foreign Language Film. The Emigrants was nominated in both categories, but in different years (1971 and 1972).

Meryl Streep, now with 11 nominations for acting, has tied with Jack Nicholson. They are both only one away from the record-holder, Katherine Hepburn. If Streep were to win this year for her performance in One True Thing, she would have three Oscars, putting her in the company of Ingrid Bergman, Walter Brennan and Jack Nicholson. Again, Katharine Hepburn holds the record, with four Best Actress Oscars.

If either last year's Silver Bear winner, Fernanda Montenegro, or Roberto Benigni were to receive an acting award, it would be the first win for a performance in a foreign- language film since Sophia Loren's, for Two Women (1961).

Both Cate Blanchett and Judi Dench were nominated for playing Queen Elizabeth I in different films.

Steven Spielberg's nomination for Achievement in Directing was his fifth in the category. He has also been a producer on three previous Best Picture nominees and was executive producer of James Moll's The Last Days, a film nominated for best achievement in documentary features.