JAKKS Pacific Inc. to Sponsor GT Bicycles' Freestyle Team -- Mike Parenti, Dave Voelker, Jamie Bestwick.Business & Sports Editors MALIBU, Calif.--(BUSINESS WIRE)--March 9, 2000 JAKKS Pacific JAKKS Pacific, Inc. NASDAQ: JAKK is is a multi-brand company that designs and markets a broad range of toys and consumer products and is based in Malibu, California. Its product categories include action figures, art activity kits, stationery, writing instruments, performance Inc. (Nasdaq:JAKK) today announced that it has entered into a two-year agreement with GT Bicycles GT Bicycles is a large American manufacturer of road, mountain, and BMX bicycles. The company was founded in 1979 by Gary Turner, a welding engineer and Richard Long, a bike shop owner. Inc. to act as a co-sponsor of its freestyle team. Mike Parenti, Dave Voelker and Jamie Bestwick together comprise a wealth of talent in virtually all areas of Freestyle riding -- vert, dirt jumping Dirt jumping is one of the names given to the practice of riding bikes over shaped mounds of dirt or soil and getting airborne. The idea is that after riding over the 'take off' the rider will become momentarily airborne, and aim to land on the 'landing'. , ramps and street. Although only 18, Parenti has been riding for six years and most recently placed fifth among dirt jumpers at the 1999 X-Games, following a third-place showing in dirt jumping at the 1999 KOD Finals. Voelker has been on the GT team for 15 years with a career that stretches from 2-Hip King of Street in the 1980s to a fourth-place finish among street riders Street Riders is an urban street racing game on the PlayStation Portable. There is fierce weapon-based combat during races. In total there will be 66 missions, 14 weapons and 30 vehicles. It is based on the console game, 187 Ride or Die. at the 1999 X-Games. Bestwick was World Vert Riding Champion in 1997, Ride UK Magazine Rider of the Year in both 1998 and 1999, and a Gold Medalist at the 1999 Gravity Games Gravity Games is a multi-sport competition originating from Providence, Rhode Island that is broken down into Winter and Summer adaptations. These feature a variety of extreme sports such as , skateboarding, Freestyle Motocross, BMX freestyle (during the summer) and snowboarding . "We are extremely excited at the marketing opportunities presented by the sponsorship agreement," said Stephen Berman, president and chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of JAKKS Pacific Inc., who noted that today's announcement complements an existing agreement (announced on September 7, 1999) under which JAKKS is developing (within its Road Champs(R) BXS BXS Brussels Stock Exchange BXS Bronx X-Ray Server brand) a line of collectible toy bicycles and action figures modeled on GT Bicycles' BMX BMX abbr. bicycle motocross BMX Noun 1. bicycle motocross: stunt riding over an obstacle course on a bicycle 2. sport bikes. "We certainly share Stephen's enthusiasm," said Andrew Herrick, director of marketing for GT Bicycles. "JAKKS Pacific has built the Road Champs BXS brand into a proven winner, and the cross-marketing opportunities for both JAKKS and GT Bicycles are clearly tremendous." "In addition to having the company's banners and logo prominently featured on GT Bicycles' freestyle team jerseys, team vehicles and printed marketing materials," added Berman, "we will have an opportunity to coordinate our activities with public appearances by members of the GT freestyle team at numerous events held throughout the country each year, as well as at occasional events specifically tailored to JAKKS' advertising and marketing program. "These and similar cross-promotional opportunities will be further enhanced through the creation of reciprocal hotlinks between the companies' respective Web sites, www.jakkspacific.com and www.gtfreestyle.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, activity sets, and outdoor products; and fashion and mini dolls and related accessories. "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and 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. |
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