Corgi International Limited Shareholders Ratify $5.65 million Convertible Debt and Warrant Issuance.

SAN FRANCISCO -- Corgi International Limited (Nasdaq:CRGI) today announced that, at an Extraordinary General Meeting of Shareholders, Corgi's shareholders approved a resolution ratifying and approving Corgi's execution of the Note and Warrant Purchase Agreement (the "Purchase Agreement") dated April 28, 2006, and the transactions contemplated by the Purchase Agreement. Such transactions include the allotment and issuance of shares of Corgi's American Depositary Shares ("ADSs"), and the ordinary shares underlying such ADSs, upon (i) the conversion of $5.65 million in aggregate principal amount of convertible notes issued pursuant to the terms of the Purchase Agreement, which notes are currently convertible into ADSs at a rate of $2.00 per ADS, and (ii) the exercise of warrants to purchase an aggregate of 988,750 ADSs, issued pursuant to the terms of the Purchase Agreement, at an exercise price of $0.07 per share. Such warrants will be exercisable, if at all, when certain conditions are met as set forth in the warrants.

About Corgi International

Corgi International, based in Hong Kong, sells die-cast collectible products under its own brand. In the U.S., the company is known as Corgi USA. Corgi also produces high quality die-cast and plastic products for multi-national companies that market collectible or gift items worldwide. Corgi has a high-volume manufacturing operation in China and sales offices worldwide. Retailers and consumers interested in more information can call 1-800-800-CORGI, or visit the company's website at: http://www.corgi-international.com.