JAKKS Pacific's Flying Colors® division will create a full line of activity, stationery and back-to-school items, including stationery activity kits, craft activity kits and reusable compounds. The line will debut at the American International Toy Fair in February 2003.

"We are excited to be working with Universal Studios Consumer Products Group on 'Dr. Seuss' The Cat in the Hat,'" said Jennifer Richmond, vice president of licensing, JAKKS Pacific. "The popularity of Dr. Seuss characters is as strong as ever, and will help make this one of the great family films of 2003. Flying Colors intends to bring the beloved tale home to children everywhere with a toy line that captures the whimsical nature and unforgettable characters and antics from the film."

"We have worked with JAKKS Pacific on many Universal properties over the years," said Tim Rothwell, senior vice president, Universal Studios Consumer Products Group. "We are very confident with their ability to create innovative merchandise based on 'Dr. Seuss' The Cat in the Hat' that will be well received at retail."

A Universal Pictures/DreamWorks Pictures/Imagine Entertainment presentation, "Dr. Seuss' The Cat in the Hat" is being produced by Academy Award® winner Brian Grazer and directed by Bo Welch. Mike Myers stars alongside Dakota Fanning, Kelly Preston, Alec Balwin and Spencer Breslin in the highly anticipated film adaptation of the beloved literary classic.

"The Cat in the Hat" by Dr. Seuss was first published in 1957, and remains one of the top ten best-selling hardcover children's books of all time. The mischievous feline visitor in the striped stove-pipe hat makes his big screen debut with this live-action production, which will bring the delightfully off-kilter Dr. Seuss characters -- as well as some new ones created especially for the film -- to life on the big screen.

Universal Studios Consumer Products Group (USCPG) is responsible for global licensing and retail strategies as well as building brand recognition. USCPG is a unit of Universal Pictures, a division of Vivendi UNIVERSAL Entertainment (VUE) (www.universalstudios.com), the U.S.-based film, television and recreation entity of Vivendi Universal, a global media and communications company.

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®. 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 press release may contain 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.