JAKKS Pacific's newly acquired Go Fly a Kite® division will develop specialty and performance kites and wind forms based on Nickelodeon properties, including Dora the Explorer®, Jimmy Neutron®, SpongeBob Squarepants®, Blues Clues® and Fairly Odd Parents®. JAKKS Pacific may produce and distribute kites in the United States through 2005.

"We're very proud that now Nickelodeon characters like Blue, Dora the Explorer and SpongeBob will soar through the sky and adorn front lawns nationwide," commented James Rushton, president, Go Fly a Kite. "For kids and adults, from first-time fliers to expert stunters, kite flying is fun. Go Fly a Kite® has been an industry leader since 1963, and the Nickelodeon line, only the second license in the company's history, will feature unique design, quality and engineering to help bring kite-flying appeal to a new generation of kite fliers."

Rushton noted that the kites are expected to hit retail shelves in time for spring 2003.

Nickelodeon has built a diverse, global business by putting kids first in everything it does. The company includes television programming and production in the U.S. and around the world, plus consumer products, online, recreation, magazines, books and feature films. Nickelodeon's U.S. television network is seen in more than 75 million households, and has been the number one rated cable network for four consecutive years. Nickelodeon and all related titles, characters and logos are trademarks of Viacom International Inc.

JAKKS Pacific, Inc. is a multi-brand company that designs and markets a broad range of toys and leisure products. The product categories include: Action Figures, Arts & Crafts Activity Kits, Stationery, Writing Instruments, Performance Kites, Water Toys, Sports Activity Toys, Vehicles, Infant/Pre-School, Plush and Dolls. The products are sold under various brand names including Flying Colors®, Road Champs®, Remco®, Child Guidance®, Pentech®, Toymax®, Funnoodle®, Laser Challenge(TM) and Go Fly a Kite(TM). The Company also participates in a joint venture with THQ Inc. that has exclusive worldwide rights to publish and market World Wrestling Entertainment(TM) video games. For further information, visit www.jakkspacific.com.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: This news 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.