MALIBU, Calif.--(BUSINESS WIRE)--July 7, 1998-- JAKKS Pacific Inc. (NASDAQ/NM:JAKK) Tuesday announced that it has extended to Dec. 31, 2009, its license agreement with Titan Sports Inc. for its World Wrestling Federation(R) (WWF) line of action figures and other toy products.

The prior license agreement would have expired in 2002.

The extension comes on the heels of an exclusive 10-year agreement that a joint venture company of JAKKS Pacific and THQ Inc. (NASDAQ/NM:THQI) recently signed with Titan Sports to publish WWF video games.

"Our WWF line has consistently been a terrific seller, with NPD Group's recent TRST Report ranking them in the top five among action figures," said Jack Friedman, chairman and chief executive officer of JAKKS Pacific. "With the added dimension of the WWF video games, we look forward to identifying additional distribution channels and ways to further broaden this very profitable product line."

Jim Bell, senior vice president, licensing and merchandising, of Titan Sports, commented: "JAKKS Pacific has proven to be an excellent partner in our WWF merchandising efforts. We are very pleased to extend our relationship with them and know they will help to raise the already-strong and rapidly growing visibility of WWF wrestling."

Friedman added: "It is with delight that we extend our WWF license another seven years. We look forward to this long-term relationship with Titan, which now will span 14 years, continuing to flourish."

JAKKS Pacific and its affiliates develop, manufacture and market toys and related products for children, including action figures featuring characters from the World Wrestling Federation, die-cast collectible and toy vehicles under the Road Champs(R) and Remco(R) brand names, Child Guidance(R) pre-school toys, and a line of fashion dolls and accessories.

"Safe Harbor" 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.

CONTACT: JAKKS Pacific Inc.

Stephen Berman, 310/456-7799

or

Silverman Heller Associates

Lori Parks/Eugene Heller, 310/208-2550