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US actor and Old Vic director Kevin Spacey will be honoured with a special prize at this year's Olivier Awards.

The 55-year-old is currently artistic director at London's Old Vic and is famous for his film and TV roles in American Beauty and House of Cards.

The Oscar-winner is being honoured for his outstanding contribution to the Old Vic, where he became artistic director in 2004. He steps down later this year.

The actor is widely credited with reviving the theatre's fortunes.

"His advocacy of London theatre has been a constant boon, and many of us will miss him as a valued colleague," said Caro Newling, president of the Society of London Theatre.

Matilda director Matthew Warchus in the autumn.

Spacey's final performance as the Old Vic's artistic director will see him revive his title role in Clarence Darrow, his first one-man play.

He previously appeared in several Old Vic productions during his tenure, including Richard II, Speed-The-Plow and Sam Mendes' production of Richard III.

Spacey's other theatre credits include The Iceman Cometh, which debuted at the Almeida in London in 1998 before moving on to the Old Vic and then Broadway.

He received the Evening Standard and Olivier awards for his performance as Hickey in Eugene O'Neill's play.

Spacey's film work includes The Usual Suspects, for which he received a best supporting actor Oscar in 1996, as well as LA Confidential, Seven and Glengarry Glen Ross.

He won a best actor Oscar for American Beauty in 2000 and recently won his first Golden Globe, for House of Cards, after seven previous nominations.

In 2010 he received an honorary CBE for his services to theatre.

The Olivier Awards, established in 1976 and named after Laurence Olivier, are the UK's most prestigious stage honours.

The full list of nominations will be announced on 9 March, while the ceremony itself will take place on 12 April at the Royal Opera House.