JAKKS Pacific Inc. Signs Licensing Agreements With Top Schwinn Riders

Business Wire, Feb 9, 2000

Business Editors &Retail Writers

MALIBU, Calif.--(BUSINESS WIRE)--Feb. 9, 2000

JAKKS Pacific Inc. (Nasdaq:JAKK) today announced that it has signed licensing agreements with Schwinn riders Jay Miron, Andrew Faris and Jay Eggleston.

Under an earlier agreement announced in September 1999 with Schwinn, the company -- under its Road Champs(R) BXS brand -- will develop, manufacture and market collectible die-cast and plastic bicycles, action sport playsets, handheld and tabletop LCD games, and BMX bike keychains based on Team Schwinn.

Today's announcement identifies the Team Schwinn BMX and freestyle riders -- with individualized trick-stick knobs -- on whom the signature-series action figures will be based. Schwinn will work closely with JAKKS to develop future projects.

Jay Miron, one of the sport's leading freestyle riders and a winner of numerous awards, is the current world champion in both vert and mini-ramp. He is also the winner of the 1998 MTV Sports &Music Festival. In 1999, Miron won silver medals at the X-Games in both street and vert competitions. From the 1999 Gravity Games, he took home a silver medal in vert and a bronze in street.

According to Miron, &uot;Road Champs toy bikes look identical to the bikes the actual pros ride, and I've already learned to do double tailwhips with them!&uot;

Andrew Faris was the flatland world champion in 1997 and 1998, as well as an X-Games flatland silver medalist in both years.

Jay Eggleston, one of the more recent additions to Team Schwinn, is recognized as one of the sport's most aggressive vert riders.

&uot;Each of these excellent riders are acknowledged for their success in bike extreme sports,&uot; stated Stephen Berman, president and chief operating officer of JAKKS Pacific. &uot;We look forward to representing each of these riders as an individual and as an important member of Team Schwinn through a variety of products under our Road Champs(R) BXS brand.&uot;

&uot;JAKKS Pacific has done an exceptional job capturing the look and feel of Schwinn's BMX bikes,&uot; said Brian Searchinger, director, new business development at Schwinn Cycling &Fitness. &uot;Based on the authenticity that JAKKS has achieved so far, I am certain they will exceed our expectations with the Schwinn action figures.&uot;

Schwinn, which has been in business for more than a century, manufactures a wide assortment of bicycles, including popular dirt, vert and freestyle BMX sport bikes, as well as a full line of fitness equipment. Additional information may be found at www.schwinn.com.

JAKKS Pacific is a multi-brand toy company that designs, develops, produces and markets toys and related products, including: action figures and accessories featuring licensed characters, principally from the World Wrestling Federation(R); Flying Colors(R) molded plastic activity sets, clay compound playsets and lunch boxes; Road Champs(R) die-cast collectible and toy vehicles and Remco(R) toy vehicles and role-play toys and accessories; Child Guidance(R) infant and preschool electronic toys, toy foam puzzle mats and blocks, and activity sets and outdoor products; and fashion and mini dolls and related accessories.

&uot;Safe Harbor&uot; Statement under the Private Securities Litigation Reform Act of 1995: This news 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.