COSTA MESA, Calif. -- January 02, 2008 -- A proposed spin-off by way of distribution of shares in Playmates Toys Limited, the group's holding company for the Playmates toy business in its US, Hong Kong and PRC operations, has conditionally been granted by the Hong Kong Stock Exchange thus establishing a separate listing of the shares of Playmates Toys Limited ("Shares") on the main board of the Exchange. Playmates Holdings will continue to retain approximately 55% of the entire issued shared capital of Playmates Toys.

Dealings in the Shares on the Hong Kong Stock Exchange are expected to commence at 9:30 a.m. on Friday, 1 February 2008. Subject to the granting of the listing of, and permission to deal in, the Shares on the main board on the Hong Kong Stock Exchange and the compliance with the stock admission requirements of HKSCC, the Shares will be accepted as eligible securities by HKSCC for deposit, clearance and settlement in CCASS with effect from the commencement date of dealings in the Shares on the Hong Kong Stock Exchange or such other date as determined by HKSCC.

THE LISTING DOCUMENT IS AVAILABLE ON THE HONG KONG STOCK EXCHANGE WEBSITE AT www.hkex.com.hk

The Stock Exchange of Hong Kong Limited (the "Hong Kong Stock Exchange") and Hong Kong Securities Clearing Company Limited ("HKSCC") take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.