MALIBU, Calif. -- November 16, 2004 -- JAKKS Pacific, Inc. noted in regard to today's announcement regarding its new line of plug-it-in-and-play TV Games(TM) based on World Wrestling Entertainment (WWE(R)) Superstars, slated for release in 2005, that the games are being developed under an agreement with WWE entered into in July, 2004, prior to WWE's commencement of litigation against JAKKS and the joint venture company formed by JAKKS and THQ, Inc., which agreement included a reservation of any rights, claims and defenses the parties had regarding the issuance of the license agreement between WWE and the joint venture company. The Company's earlier announcement today did not signify any new development regarding the litigation.

MALIBU, Calif. -- November 16, 2004 -- JAKKS Pacific, Inc. announced a worldwide licensing agreement with World Wrestling Entertainment (WWE(R)) to develop and market WWE(R) TV Games, a plug-it-in and play gaming system with multiple games based on WWE superstars, in one single controller.

WWE TV Games will feature new games based on top WWE Superstars from the past to the present, and is slated to launch in 2005. All that is needed to play the TV Games products are batteries and a TV -- no videogame consoles or gaming cartridges are required. Simply plug the TV Games product into the A/V jacks of any standard television set, turn it on and play! The lightweight, compact, all-inclusive controller houses a combination of videogames with all of the hardware and software built right in. This technology allows gaming fans to enjoy a number of videogames with just one single purchase.

According to Jennifer Richmond, Senior Vice-President of Licensing and Media for JAKKS Pacific, JAKKS plans on releasing multiple TV Games products based on the WWE brand. "Both TV Games and WWE are exceptional brands that complement each other, and it is a natural progression for the two brands to align."

"JAKKS has demonstrated its expertise in developing WWE products that epitomize our brand and which are compelling to our fans," commented Donna Goldsmith, Senior Vice President of Consumer Products, World Wrestling Entertainment. "We are excited to expand the WWE brand by combining its unique personality with JAKKS' exceptional TV Games product to effectively extend the WWE experience into an even more broad world of gaming."

JAKKS Pacific has worldwide rights for WWE TV Games, and expects the units to retail for approximately $20. For more information on JAKKS' TV Games lines, go to http://www.jakkstvgames.com.

About World Wrestling Entertainment:

World Wrestling Entertainment, Inc. (NYSE:WWE) is an integrated media and entertainment company headquartered in Stamford, Conn., with offices in New York, Los Angeles, Toronto and London. Additional information on the company can be found at wwe.com and corporate.wwe.com. Information on television ratings and community activities can be found at parents.wwe.com.

About JAKKS Pacific, Inc.:

JAKKS Pacific, Inc. is a multi-brand company that designs and markets a broad range of toys and consumer products. The product categories include: Action Figures, Art Activity Kits, Stationery, Writing Instruments, Performance Kites, Water Toys, Sports Activity Toys, Vehicles, Infant/Pre-School, Plush, Construction Toys, Electronics and Dolls. The products are sold under various brand names including JAKKS Pacific(R), Play Along(R), Flying Colors(R), Road Champs(R), Child Guidance(R), Pentech(R), Trendmasters(R), Toymax(R), Funnoodle(R), Go Fly a Kite(R), Color Workshop(R) and TV Games(TM). The Company also participates in a joint venture with THQ Inc. that has exclusive worldwide rights to publish and market World Wrestling Entertainment(R) video games. For further information, visit http://www.jakkspacific.com or http://www.jakkstvgames.com.