LeapFrog Enterprises, Inc. to Begin Trading on the New York Stock Exchange.

EMERYVILLE, Calif. -- LeapFrog Enterprises, Inc. announced the pricing of its initial public offering of 9,000,000 shares of Class A common stock at $13.00 per share. The shares will begin trading on the New York Stock Exchange under the ticker symbol "LF" on July 25, 2002.

8,610,000 of the shares are being offered by LeapFrog, and the remaining 390,000 shares are being offered by selling stockholders. Merrill Lynch & Co. and Salomon Smith Barney are joint book-running managers for this offering. Banc of America Securities LLC, Bear, Stearns & Co. Inc., Deutsche Bank Securities and U.S. Bancorp Piper Jaffray Inc. are the co-managers.

The underwriters have the option to purchase up to an additional 1,350,000 shares to cover over-allotments, all of which would be offered by LeapFrog. The net proceeds to LeapFrog from the offering will be used to repay outstanding balances under its revolving credit facility, for seasonal increases in accounts receivable and inventory and for working capital and general corporate purposes. A copy of the prospectus for the offering may be obtained by contacting the Prospectus Delivery Department of Merrill Lynch & Co., 4 World Financial Center, North Tower, New York, NY 10080, or by telephone at 212-449-1000; or from Salomon Smith Barney, Brooklyn Army Terminal, 5th Floor, 140 58th Street, Brooklyn, New York, 11220, Attention: Prospectus Department, or by facsimile request at 718-765-6734.

LeapFrog is a leading designer, developer and marketer of innovative, technology-based educational products and related proprietary content, dedicated to making learning effective and engaging.

In addition, LeapFrog notes that in connection with its listing on the New York Stock Exchange (NYSE) that there is additional information upon which the NYSE relied to list LeapFrog, and is included in LeapFrog's original NYSE listing application. Such information is available to the public upon request.

A registration statement relating to these securities was filed and declared effective by the Securities and Exchange Commission. This press release does not constitute an offer to sell or a solicitation of an offer to buy the Class A common stock, nor will there be any sale of these securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under any such jurisdiction.

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Contact: investors, Christopher Bunn of LeapFrog Enterprises, Inc., [phone], or [e-mail]; or press, Lorie Appelbaum of Manning, Selvage & Lee, [phone], or [e-mail], for LeapFrog Enterprises, Inc.

Website: http://www.leapfrog.com/