MALIBU, Calif. -- Jan. 6, 2003 -- JAKKS Pacific, Inc. announced the Company's newest product introduction, Tongue Tape(TM). The Los Angeles Times reported in the December 30th business section that it is the Company's first significant entry into the candy category. With Tongue Tape(TM), JAKKS Pacific capitalizes on the rising popularity of flavored tongue strips by marketing a candy version aimed at children and adult candy lovers.

The first assortment of candy-flavored strips includes Growlin' Grape(TM), Cherry Pit-stop(TM), Lip Lemony Lemon(TM), Blue Ratsberry(TM), Howlin' Hot(TM) and Ooh-Ooh Orange(TM). The Company announced that it has already secured orders for more than 5 million units for the first quarter of 2003, despite having only shown Tongue Tape(TM) to a limited number of the Company's customers. The Company expects to sell the product into many different retail channels including supermarkets, toy stores, discount chains, drug stores and convenient stores.

Tongue Tape(TM) is set to begin showing up on toy store shelves as early as this week and will retail for $1.99 for a basic container of 24 strips. A deluxe package will include 36 strips and a necklace, key chain, ring or zipper pull, and will have a suggested retail price of $3.99. The Company anticipates that its next assortment of Tongue Tape(TM) will include a line of sour flavors.

"We worked for over a year to develop a formula we believe tastes great and which we hope will penetrate through multiple new markets for JAKKS," stated Michael Bianco, chief merchandising officer for JAKKS Pacific. "We believe the adult market for tongue strips is quite substantial and it has met overwhelming success in its first phase of introduction. We hope to be the leader in the children's category with Tongue Tape(TM)."

About JAKKS Pacific, 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®, Trendmasters®, 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 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.