MALIBU, Calif. -- April 24, 2003 -- JAKKS Pacific, Inc. today announced that the Company has signed a long-term comprehensive agreement with Sanrio(R), expanding on its existing agreement to include new product categories for the Hello Kitty(R) property. The new licensing agreement includes Tongue Tape(TM) candy, TV Games, slumber bags and select sporting goods, including kites, sports balls, foam pool toys and other related sports toys. JAKKS Pacific's Flying Colors division currently produces arts and crafts activity kits, fashion accessory kits, cosmetics play sets, plush puppets and other products based on the Hello Kitty property.

The new licensing agreement expands upon the existing agreement between the two companies by increasing the number of product categories available for use by JAKKS.

"We have worked closely with Sanrio for the past five years and have enjoyed great success with the Hello Kitty brand," said Michael Bianco, chief merchandising officer and executive vice president, JAKKS Pacific, Inc. "We look forward to expanding the relationship with this latest agreement to include innovative and appropriate products to further extend this top girls brand at retail. Hello Kitty is an exceptional property that is loved by many generations, proving the feline phenomenon is truly evergreen and a perfect match for JAKKS Pacific's strategy of aligning with licenses that have proven staying power."

"The continued success of the Flying Colors Hello Kitty line is great testimony to JAKKS Pacific's expertise in working with brands and building full, comprehensive merchandising programs that generate significant revenue," said Bruce Giuliano, vice president of licensing, Sanrio Inc. "It is only natural for Sanrio to look to JAKKS to continue the success of this line by expanding it through multiple new product categories."

JAKKS Pacific expects to begin shipping the new Hello Kitty products in June 2003 to Toys "R" Us, K-B Toys, Target and other retail locations nationwide.

SANRIO develops, distributes and licenses a unique collection of over 12,000 gift, stationery and fashion accessory items for women of all ages. Hello Kitty is the company's flagship brand. President and CEO SANRIO was founded in 1960 based on the concept that a small gift can bring a big smile to a child of any age. Today there are over 300 SANRIO boutiques throughout the Western Hemisphere with 120 in the United States. In addition, SANRIO character products are sold in over 10,000 U.S. locations including department, specialty stores and national chain stores.

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(R), Road Champs(R), Remco(R), Child Guidance(R), Pentech(R), Trendmasters(R), Toymax(R), Funnoodle(R) and Go Fly a Kite(R). 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.