James Franco will receive the Santa Barbara International Film Festival’s Outstanding Performance Of The Year Award on January 29, 2011. 

Franco will be honoured for his performance in 127 Hours, in which he plays a rock climber who cuts his own arm off in order to escape after he becomes trapped.

The film, directed by Danny Boyle, is based on the true story of Aron Ralson.

The festival is scheduled to run from January 27-February 6.

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