• Reaffirms Full Year Guidance of Growth

• Hannah Montana, Night Vision Goggles, Cupcake Maker, Action Figures and Other JAKKS Lines Expected To Drive Record Year for 2008

MALIBU, Calif. -- April 23, 2008 -- JAKKS Pacific, Inc., a leading toy and consumer products company, announces results for the Company's first quarter ended March 31, 2008.

First quarter 2008 net sales increased 5.5% to $130.9 million, compared to $124.1 million recorded in the comparable period last year. Including pre-tax litigation costs of $2.6 million, product testing costs of $0.8 million and restructuring costs of $0.6 million, or an aggregate of $0.10 per diluted share, net income for the first quarter was $0.9 million, or $0.03 per diluted share, compared to $3.2 million, or $0.12 per diluted share reported in the first quarter of 2007 which included $0.6 million in litigation costs, $0.2 million in product testing and no restructuring costs, or an aggregate of $0.02 per diluted share.

"Sell-through continued strong in the first quarter, with sales driven by our Hannah Montana toys, action figures and Plug It In & Play electronic products," said Jack Friedman, JAKKS' Chairman and Chief Executive Officer. "With increased costs related to litigation, product testing, and marketing, promotion and advertising, as well as some closeout sales that affected gross margins and the bottom-line versus last year's first quarter, we are still on track to achieve our previous guidance of at least 4% growth over 2007, leaving us poised for another record year for JAKKS Pacific. During the first quarter, we finalized the integration of our Play Along division and expect to benefit beginning in the second quarter from the operating efficiencies as a result."

JAKKS' President and Chief Operating Officer, Stephen Berman added, "We continue to have momentum in our top licensed and non-licensed brands, which we expect to drive our business this year, and are pleased with the development of many new innovative toys slated to begin shipping in the second quarter. We are optimistic about the potential for our new EyeClops™ Night Vision™ Goggles, new Disney Hannah Montana dolls, role play toys and electronics products, including the Plug It In and Play Hannah Montana Pop Hero Guitar, as well as many other new products.

"Our international business benefited from strong sales of WWE® and Chronicles of Narnia Prince Caspian action figures and Plug It In and Play products during the first quarter, and we expect the momentum to continue in the second quarter, as well."

Berman concluded, "Also highlighting our roster are several new lines including our Girl Gourmet Cupcake Maker™, Spa Factory™ line, toys based on Neopets®, NASCAR®, Nickelodeon SLIME!™ and SpongeBob SquarePants®, and our new Ulti-Motion™ gaming system that combines plug and play and role play accessories with the hugely popular category of wireless motion games. These products shipping in the second and third quarter give us enthusiasm for the rest of this year and beyond."

Cash flow from operations in the quarter was $15.4 million, and our financial position remains very strong. As of March 31, 2008, our working capital was $359.2 million, including cash and equivalents of $238.3 million, and we continue to evaluate potential acquisition opportunities and expect to continue to grow our business by actively pursuing complementary acquisitions and executing on internal growth initiatives, in the near future.

Friedman concluded, "We remain confident that we will achieve our 2008 forecast of at least $891.4 million in net sales, $93.6 million in net income and $2.91 diluted EPS, despite the recession affecting the US economy and some challenges that are affecting our industry and others who manufacture in China."

About JAKKS Pacific, Inc.

JAKKS Pacific, Inc. (NASDAQ: JAKK) is a multi-brand company that designs and markets a broad range of toys and consumer products. The product categories include: Action Figures, Art Activity Kits, Stationery, Writing Instruments, Performance Kites, Water Toys, Sports Activity Toys, Vehicles, Infant/Pre-School, Plush, Construction Toys, Electronics, Dolls, Dress-Up, Role Play, and Pet Toys and Accessories. The products are sold under various brand names including JAKKS Pacific®, Play Along®, Flying Colors®, Creative Designs International™, Road Champs®, Child Guidance®, Pentech®, Trendmasters®, Toymax®, Funnoodle®, Go Fly a Kite®, Color Workshop®, JAKKS Pets™ and Plug It In & Play TV Games™. JAKKS and THQ Inc. participate in a joint venture that has worldwide rights to publish and market World Wrestling Entertainment video games. For further information, visit www.jakks.com.