National Lampoon Featured in Mergers & Acquisition Journal.

LOS ANGELES -- National Lampoon, Inc. (AMEX:NLN - News), the most widely recognized brand in comedy, is currently featured in an article written in the Mergers & Acquisition Journal.

The article reviews National Lampoon's history, its aggressive growth in the media space, as well as the company's re-energized focus on its business in motion pictures and the Internet, including an in-depth look at the recent acquisition strategy and growth of the company.

A link to the article is here: http://www.mergersunleashed.com/maj/2008_5/181216-1.html.

About National Lampoon

National Lampoon, Inc. (AMEX:NLN) has been a dominant force in the US comedy world for almost 40 years, and is currently active in a broad array of media and entertainment segments. These include feature films, television programming, online and interactive entertainment, home video, audio, and book publishing. The Company also owns interests in all major National Lampoon properties, including National Lampoon's Animal House, the National Lampoon Vacation series and National Lampoon's Van Wilder. National Lampoon reaches nearly one in four of all 18 to 24 year old college students in America today. The Company has three core operating divisions: National Lampoon Films, which includes production along with theatrical and video distribution of feature films; College Marketing Division; and National Lampoon Networks, providing humor content through a number of platforms. These include its National Lampoon College TV network, the National Lampoon Humor Network - the most trafficked humor sites on the web, Toga TV.com - the company's broadband channel, the Drunk University Network, and the National Lampoon Video Network, which includes channels on YouTube, AOL, Yahoo, Joost, and a number of digital video platforms across the Internet. These are all anchored by the award winning comedy website www.nationallampoon.com.