JAKKS Pacific Signs Master Licensing Agreement With Universal Studios for ``The Scorpion King''.

Business Editors

MALIBU, Calif.--(BUSINESS WIRE)--Sept. 24, 2001

Line of Action Figures to be Based on World Wrestling Federation

Superstar The Rock(R) as The Scorpion King

JAKKS Pacific Inc. (Nasdaq:JAKK) today announced that it has signed an agreement with Universal Studios Consumer Products Group to act as master toy licensee for Universal Pictures' action-adventure film, "The Scorpion King," a spin-off of the worldwide box office hit movie "The Mummy Returns."

JAKKS Pacific will manufacture and market a line of toys inspired by the feature film, scheduled to be released on April 19, 2002.

"The Scorpion King" line of toys from JAKKS Pacific is expected to consist of action figures, playsets and accessories based on the characters and story lines from the film. The line is slated to hit retail shelves prior to the movie's release, and will be available in both mass merchant and specialty retailers nationwide.

"We are excited to be working with Universal Studios Consumer Products Group on this toy line spun off from 'The Mummy Returns,'" said Jennifer Richmond, vice president licensing, JAKKS Pacific. "Given the past and current success of 'The Mummy' franchise, we anticipate great potential for 'The Scorpion King' toy line at retail."

"We are confident that JAKKS will create an action-packed product line based on a film that combines exciting action and adventure with one of Hollywood's newest and multitalented actors -- The Rock," said Tim Rothwell, senior vice president, licensing, merchandising and retail development, Universal Studios Consumer Products Group.

World Wrestling Federation sensation The Rock stars as "The Scorpion King," a spin-off of "The Mummy" series based on the character first introduced in "The Mummy Returns." Co-starring Michael Clarke Duncan ("The Green Mile"), Kelly Hu and Peter Facinelli, the exciting action-adventure was written by Jonathan Hales, Stephen Sommers and Will Osborne, with Chuck Russell ("The Mask," "Eraser") directing. James Jacks, Sean Daniel, Stephen Sommers and Kevin Misher are the producers, with the World Wrestling Federation's Vince McMahon serving as executive producer.

Inspired by the legendary Egyptian warrior, "The Scorpion King" is set 5,000 years ago in the notorious city of Gomorrah, where an evil ruler is determined to lay waste to all the nomadic peoples of the desert. The few remaining tribes, never natural allies, have to unite or perish. Knowing their enemy relies on the visions of a sorcerer, they hire a skilled assassin, Mathayus (The Rock), to eliminate the visionary.

After infiltrating the enemy camp, Mathayus discovers that the sorcerer is in fact a beautiful woman (Kelly Hu). Rather than eliminate her, he takes her deep into the desert badlands, knowing that the ruler's henchmen will stop at nothing to rescue her and bring her back. Seriously wounded in the ensuing battle, Mathayus must find the strength to lead his scrappy band of allies back to Gomorrah for a final confrontation.

"The Scorpion King" is the highly anticipated spin-off to the action-packed adventure film, "The Mummy Returns," which kicked off the 2001 summer movie season with a record-breaking, non-holiday opening weekend box office gross of $68.1 million. "The Mummy Returns" was the No. 1 film again in its second weekend, passing the $100 million mark and has currently grossed more than $400 million in worldwide box office revenue to date. "The Mummy Returns" is scheduled for release on home videocassette and DVD on Oct. 2, 2001.

Universal Studios Consumer Products Group is part of Universal Pictures Franchise Development, a unit of Universal Studios (www.universalstudios.com), a part of CANAL+, the TV and Film division of Vivendi Universal, a new global leader in media and communications.

JAKKS Pacific Inc. (Nasdaq:JAKK) is a multibrand toy company that designs, develops, produces and markets toys and related products under various brand names (including Flying Colors(R), Road Champs(R), Remco(R), Child Guidance(R), Color Club(R) and Pentech(R)) in multiple product categories, including: Wheels; Action Figures; Crafts/Activities/Stationery; Infant/Pre-School; Writing Instruments; Plush; and Dolls. The company also participates in a joint venture with THQ that has exclusive worldwide rights to publish and market World Wrestling Federation(R) video games. Visit www.jakkspacific.com.

World Wrestling Federation Entertainment Inc. (NYSE:WWF) is an integrated media and entertainment company with headquarters in Stamford, Conn., with sales offices in New York City, Chicago and Toronto. Additional information on the company can be found at wwf.com and wwfecorpbiz.com.

A note to parents: "The Scorpion King" is not yet rated. Consult www.filmratings.com for further information.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: This news release may contain 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.