"Based on our growth to date, we believe that we are now ready to focus on global expansion for our popular products. Our relationship with Funtastic will permit us to develop a real presence in Australia and New Zealand for our lines," remarked Stephen Berman, President and COO, JAKKS Pacific. "We are committed to implementing initiatives that will increase international sales for JAKKS, and we believe this new agreement will be a key component in our realizing that goal."

"This agreement represents a vote of confidence in Funtastic's ability to further JAKKS Pacific's expansion in Australia and New Zealand," commented David Hendy, President and CEO, Funtastic Limited. "We believe that our marketing capabilities, coupled with JAKKS strong evergreen brands, will prove to be a winning combination."

JAKKS Pacific, Inc. is a multi-brand toy company that designs, develops, produces and markets toys and related products under various brand names (including Flying Colors�, Road Champs�, Remco�, Child Guidance�, Color Club�, and Pentech�) in multiple product categories, including: Wheels; Action Figures; Crafts/Activities/Stationery; Infant/Pre-School; Writing Instruments; Plush; and Dolls. The Company also participates in a joint venture with THQ that has exclusive worldwide rights to publish and market World Wrestling Federation� video games. Additional information is available at www.jakkspacific.com.

Founded in 1994, Funtastic Limited designs, manufactures, distributes and markets licensed character merchandise in toys, apparel, stationery and other categories to Australia's major retailers. It ranks as one of the fastest growing companies in Australia. From its central warehouse in Melbourne, Funtastic -- whose customers include mass market chains, department stores and supermarkets, as well as toy stores -- has emerged as one of the most innovative children's products companies in Australia. Additional information on Funtastic Limited is available at www.funtastic.com.au.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements. Such statements reflect the current views of the Company with respect to future events and are subject to certain risks, uncertainties and assumptions. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual future results or events may vary materially from those described herein.