privileged vs exclusive

privileged is not a noun while exclusive is a noun.

Word	Noun	Adjective	Verb	Adverb
privileged	No	Yes	No	No
exclusive	Yes	Yes	No	No

privileged (noun)	exclusive (noun)
	a news report that is reported first by one news organization

privileged (adjective)	exclusive (adjective)
blessed with privileges	excluding much or all; especially all but a particular group or minority
confined to an exclusive group	not divided among or brought to bear on more than one object or objective
not subject to usual rules or penalties	not divided or shared with others