MALIBU, Calif.--(BUSINESS WIRE)--Nov. 14, 2001--JAKKS Pacific Inc. (Nasdaq:JAKK) today announced that its Flying Colors(R) division has signed a multi-year licensing agreement with HIT Entertainment(TM) to manufacture and market a line of craft activity and stationery kits based on Barney(R).

Flying Colors will produce a variety of stationery and craft activity kits, reusable compounds and accessories, and mechanical design craft toys, based on the property's main characters Barney, Baby Bop(TM) and BJ(TM). The line is slated to hit retail shelves Fall 2002 and will be available in both mass merchant and specialty retailers nationwide. The new agreement follows a previous licensing agreement under which JAKKS Pacific currently manufactures and distributes Barney-themed foam puzzles.

With more than 11 million viewers a week in the United States, "Barney & Friends(R)" is one of the top-rated TV shows for preschoolers and seen by children in more than 100 countries on six continents around the world.

"Children around the world love Barney," said Jennifer Richmond, Vice President Licensing, JAKKS Pacific. "We couldn't be more thrilled to be expanding our Flying Colors product lines for the purple dinosaur to include the types of products moms encourage their preschoolers and toddlers to play with. The activity toys will complement programming while offering traditional arts and crafts play patterns that kids of any generation adore."

Established in 1989, the U.K.-based HIT Entertainment PLC is one of the world's leaders in quality family entertainment. HIT Entertainment acquired the U.S.-based Lyrick Studios in 2001, creating a preschool powerhouse with children's programming that includes Barney, Bob the Builder(TM), Angelina Ballerina(TM) and Kipper(TM). HIT Entertainment also distributes such acclaimed children's branded properties as The Wiggles(R) and VeggieTales(R). HIT Entertainment is a fully integrated global studio, which incorporates production, distribution, publishing, licensing and merchandising.

JAKKS Pacific is a multi-brand toy company that designs, develops, produces and markets toys and related products under various brand names (including Flying Colors(R), Road Champs(R), Remco(R), Child Guidance(R), Color Club(R), and Pentech(R)) in multiple product categories, including: Wheels; Action Figures; Crafts/Activities/Stationery; Infant/Pre-School; Writing Instruments; Plush; and Dolls. The Company also participates in a joint venture that has exclusive worldwide rights to publish and market World Wrestling Federation(R) video games. Visit www.jakkspacific.com.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: This news release may contain 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.

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