Katie discussed the part in front of a live audience alongside playwright Theresa Rebeck, director Jack O’Brien and her co-star Judy Greer at The Greene Space in New York.
The 33-year-old stars as Lorna, the high-strung sister of a con man whose sudden return home — with millions of dollars in hand — launches his family into a comedic, money-charged frenzy.
She said playing such a feisty character in the play was a dream come true: 'Finally I get to yell! What I really loved about this character was she’s strong underneath it all. I like her values, I like that she’s trying to figure it all out and really cares for her family.'
Teresa said the role is "a wonderful part" for the actress. "I think it's really thrilling to see Katie Holmes on stage again," she added.
When asked why she wanted to do Broadway, mum-of-one Katie said: "I thought it would be so challenging. Because I was so young when I started working, I was always trying to catch up."
The actress, who made her Broadway debut four years ago in All My Sons, has said she is "really excited to be back". The new play begins preview performances on November 3 at the Music Box Theatre, with opening night scheduled for November 29.
While Katie focuses on work, her ex husband Tom Cruise has been busy sorting out issues relating to his personal life. The actor is suing two US magazines which claimed he abandoned his and Katie's six-year-old daughter Suri after they split.
The Top Gun star's lawyer Bert Fields confirmed his client had filed a $50m lawsuit against Life & Style and In Touch magazines for defamation, marking the first time the star has taken action over stories printed in the wake of his separation and subsequent divorce. Any money earned from the case, Tom will donate to charity.
Mr Fields told website TMZ: "Tom is a caring father who dearly loves Suri. She's a vital part of his life and always will be. To say he has 'abandoned' her is a vicious lie. To say it in lurid headlines with a tearful picture of Suri is reprehensible."
The lawyer continued: "Tom doesn't go around suing people. He's not a litigious guy." He then pointed to the fact that these publications try to make money with lies about his child, "you bet he's going to sue".
Shockwaves were sent through the celebrity world in June when Katie filed for divorce after five years of marriage. Their divorce was finalised just two months later.
The 50-year-old married Katie, 33, in a magnificent Italian castle ceremony in November 2006, seven months after the birth of their daughter. Tom was previously married to Moulin Rouge star Nicole Kidman, with whom he has two children, and actress Mimi Rogers. It was Katie's first marriage.