JAKKS intends to integrate P&M's craft brand, Color Workshop and its multiple products, including The BloPen(TM), Fabric BloPens, Vivid Velvet and Kaps-Off Markers, into JAKKS' operations beginning immediately.

"We expect The BloPen/Color Workshop brands will be an excellent complement to our Flying Colors/Pentech writing instrument division and this acquisition should result in added shelf space for our increasingly diversified writing instrument line, which has burgeoned into an important sector for JAKKS Pacific," commented Stephen Berman, president and COO, JAKKS Pacific. "JAKKS also gains new distribution channels, an important benefit we look for in all acquisition candidates."

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® 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 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.