New York, NY (June 13, 2006) - With 2006 being the 40th Anniversary of Speed Racer, the rumor mill is a buzz with mutterings of a live action movie from the Wachowski brothers. But while Speed Racer fans await the good news, the folks at Art Asylum (www.artasylum.com), in conjunction with Speed Racer Enterprises, are bringing out a new toy line packaged with all new, original animated promotional shorts that will be comprised of fresh story lines and characters for this cutting-edge, yet classic property.

With the help of Jeff Nodelman of ANImagic and producer/writer "Tramp" of Supreme Team Productions, this summer Speed Racer fans will be treated to an exciting new adventure that will be launched on the new www.speedracerlives.com website to help kick off the 40th anniversary celebration. The site also contains behind the scene trailers, downloadable music, and a free 3D, multi-level online video game where high score winners will be eligible for prize packages, direct from Art Asylum. To preview the trailer, go to http://post.creativegroup.tv/Ani_SRTrailer.

"We're going all out for the 40th Anniversary of Speed Racer," said Art Asylum's Adam Unger. The New York-based toy manufacturer will create the unique product line based on of the classic Speed Racer animated television property. "The new Speed Racer animated promos are unlike anything you've seen in the past, and really brings Speed Racer into the 21st century, while paying homage to the Classic Speed Racer," said Unger. The 40th Anniversary line will include toys, collectibles, and music. DVD's of the new animation will be packaged with the toy line hitting retail stores in the fall of 2006. Additionally, a follow-up soundtrack will hit stores in the fourth quarter of 2006, with all new music from some of today's hottest, up-in-coming artists.

"Art Asylum is the perfect company to create a high-octane toy line in commemoration of Speed's 40th Anniversary celebration," said Speed Racer Enterprises EVP, James Rocknowski. "They are edgy, smart, and creative, and their work certainly speaks for itself," he continued. "We expect that our loyal fans will be very impressed and excited with the new line and the hard driving animated promos and we anticipate an entirely new generation of Speed Racer fans to jump on board."