Marvel Consolidates Licenses for Large Product Categories with Leading Partners Hanes Apparel, R.M. Palmer and Disguise, Inc.

Entertainment Editors/Business Editors

NEW YORK--(BUSINESS WIRE)--April 1, 2004

Category Consolidation Strategy Helps Increase Financial Returns for

Marvel, Partners and Retailers

Marvel Enterprises, Inc., (NYSE: MVL) a global character-based entertainment licensing company, has recently signed agreements that effectively consolidate its licenses into single marquee partners for the underwear, candy and costume categories. These new arrangements represent Marvel's strategic approach to category management whereby Marvel seeks to enhance the caliber of its partners while expanding the marketing and promotional support for its product lines, resulting in higher returns to all parties. The license partners include Hanes apparel for underwear, R.M. Palmer for confection and Disguise in the costume category. Marvel is currently evaluating several other categories in which to pursue similar broad partnerships.

Under the agreements, Hanes, Palmer and Disguise, are each granted the licensing rights to manufacture products featuring several prominent brands from the Marvel library including, Spider-Man(R)(TM), X-Men(R)(TM), The Fantastic Four(R)(TM), Hulk(TM), Iron Man(R)(TM), Punisher(R)(TM) and more. Hanes, a world-leading apparel manufacturer, will produce Marvel-branded hanging and packaged underwear. Palmer, a global confectionary manufacturer, will produce Marvel-branded chocolates, non-chocolates, novelty gift candy and other products while Disguise will create costumes and costume-related accessories.

"As the value of our character and corporate brands continues to grow, and Marvel-branded products are embraced by a growing base of consumers, we are placed in the enviable position of being able to attract and work with some of the world's best manufacturers across a wide range of product categories," said Tim Rothwell, President of Marvel's Worldwide Consumer Media Group Division. "Consolidating our licensees and partnering with the best-in-trade will allow us to secure more retail support with a single, cohesive product line. This strategy should result in an overall increase in the distribution of our products, which will ultimately drive higher sales for our partners and therefore increased royalty income for us."

About Marvel Enterprises

With a library of over 4,700 proprietary characters, Marvel Enterprises, Inc. is one of the world's most prominent character-based entertainment companies. Marvel's operations are focused in four areas: entertainment (Marvel Studios), licensing, comic book publishing and toys (Toy Biz). Marvel facilitates the creation of entertainment projects, including feature films, DVD/home video, video games and television based on its characters and also licenses its characters for use in a wide range of consumer products and services including apparel, collectibles, snack foods and promotions. Marvel's characters and plot lines are created by its comic book division which continues to expand its leadership position in the U.S. and worldwide while also serving as an invaluable source of intellectual property.

Except for any historical information that they contain, the statements in this news release regarding Marvel's plans are forward-looking statements that are subject to certain risks and uncertainties, including a decrease in the level of media exposure or popularity of Marvel's characters, financial difficulties of Marvel's licensees, changing consumer preferences, movie- and television-production delays and cancellations, toy-production delays or shortfalls, continued concentration of toy retailers, toy inventory risk, the imposition of quotas or tariffs on products manufactured in China and a decrease in cash flow even as Marvel remains indebted to its noteholders. These and other risks and uncertainties are described in Marvel's filings with the Securities and Exchange Commission, including Marvel's Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Marvel assumes no obligation to publicly update or revise any forward-looking statements.