Collectible Concepts Gets New CEO and Closes Financing Deal.

Business Editors

DOYLESTOWN, Pa.--(BUSINESS WIRE)--Dec. 4, 2002

Collectible Concepts Group, Inc. (OTC: CCGI), a leader in the collectibles industry, has named Philip A. Verruto as its new CEO. Announcing the appointment, Paul S. Lipschutz, former CEO and now company president also announced the closing of a financing transaction with a group of institutional investors. Mr. Verruto, whose appointment is associated with the investment, brings significant high-level management experience to CCGI. Formerly CEO and Chairman of DataStream Global Communications, an international long distance telecommunications provider that maintained operations in North America, South America, Europe and the Middle East, Mr. Verruto was credited with building the company from a start-up in 1996 to a $40 million revenue-run rate. Under his leadership, DataStream raised more than $40 million in capital.

"Believing in the long term revenue and earnings prospects for the company, sophisticated institutional investors have made a substantial financial commitment to our company," said Lipschutz. "The initial amount of the financing was consistent with what is required to get the company into compliance with SEC reporting requirements" said Lipschutz, adding that the financing agreement requires that the major portion of the funds are to be designated exclusively for compliance requirements.

"With Mr. Verruto at the helm and this investment in place, we can now complete our reporting and put CCGI in the investing public's eye again" said Lipschutz. Commenting on some of the company's business opportunities he went on to say, "CCGI is an innovator and pacesetter in its field and we look forward to the distribution of new products linked to upcoming popular movie releases.

About Collectible Concepts Group

Headquartered in Doylestown, Pa., Collectible Concepts Group, Inc. develops and markets unique licensed entertainment, sports, and music collectible merchandise for specialty, mass retail and online distribution. Nationally recognized in direct response marketing, replica design, mass-market distribution and E-commerce marketing, the company's products are renowned both for quality and authenticity. Licenses include Three Stooges and Marvel Universe Characters among many others. See Collectible Concept Group's corporate website for more information: www.collectibleconcepts.com or www.otcfn.com/ccgi.

For more information, contact: Collectible Concepts Group: 215-491-1075, ext. 17 or visit www.collectibleconcepts.com. Investor Relations: OTC Financial Network, Rick McCaffrey, [e-mail], 781-444-6100 or 877-366-0843, ext. 621 or visit www.otcfn.com/ccgi.

Statements about the company's future expectations, including future revenues and earnings, and the ability of management to respond to comments from regulatory authorities and all other statements in this press release other than historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by introductory words such as "expects", "plans", "will", "estimates", "forecasts", "projects" or words of similar meaning and by the fact they do not relate strictly to historical or current facts. Forward-looking statements frequently are used in discussing new products and their potential. Many factors may cause actual results to differ from forward-looking statements, including inaccurate assumptions and a broad variety of risks and uncertainties, some of which are known, such general economic conditions, consumer product acceptance and competitive products, and others of which are not. No forward-looking statements are a guarantee of future results or events, and one should avoid placing undue reliance on such statements. Since these statements involve risks and uncertainties and are subject to change at any time, the Company's actual results could differ materially from expected results.