National Lampoon Hatches Studio Dedicated to Developing, Producing, Acquiring Original Comedy Content; National Lampoon Incubation Studios to Helm as Comedy Lab for Wide Slate of Company-Controlled Media Properties.

LOS ANGELES -- Humor breaks new ground as National Lampoon (AMEX:NLN), the world's most-widely recognized brand in comedy, announces the formation of National Lampoon Incubation Studios.

The studio -- a first-ever in the brand's thirty-five-plus years of existence -- will serve as a platform to develop comedy material for all of National Lampoon's media properties, to include TogaTV.com, NationalLampoon.com, National Lampoon Mobile, television network National Lampoon College, as well as branded motion picture, radio, DVD, CD and publishing properties.

In addition to fostering content internally, National Lampoon plans to collaborate with external production partners and is currently in a number of discussions throughout the creative community.

"This is one of the most dynamic times in the history of media and entertainment and we are committed to being a big part of it," stated Barry Layne, National Lampoon Executive Vice President. "With a broad set of media platforms at our disposal, the new National Lampoon Incubation Studios provides the creative community a unique environment and method to reach the marketplace, develop material and launch new concepts and entire forms of comedy."

National Lampoon Incubation Studios represents a key step in the ongoing development of National Lampoon and the integration of its broad media platforms. Over the last few years, a number of properties have made their debut on National Lampoon College, NationalLampoon.com, along with other National Lampoon media, and then migrated to other, broader media and entertainment partnerships. For example, writer Mark M. created the Secret League of Legionnaires and worked with editor-in-chief Scott Rubin for its debut on NationalLampoon.com. Subsequently, the project has been picked up as a pilot for Comedy Central with Rubin serving as co-executive producer.

"The National Lampoon Incubation Studios is yet another example of how we are focusing this company on looking forward and moving forward," added National Lampoon CEO Dan Laikin. "Over the last couple of years, we have established ourselves in a number of entertainment and media marketplace and platform. NLIS really allows us to harness the power of our media and marketing platforms and entertainment operations in a whole new way. We also see this as another step towards building an exciting library of programming as we continue to build out additional distribution channels."

Other projects that have tracked in a similar fashion include the upcoming "National Lampoon Presents Gumby: The Lost Tapes" project which will begin its run on TogaTV.com, air on National Lampoon College and move onto other media and entertainment platforms. Additionally, National Lampoon's Master Class in Comedy, an ongoing program with guest speakers discussing the filmmaking process and comedy development and production, gives students the opportunity to create, develop, write and produce comedy programming for National Lampoon College.

Located on the internet at www.togatv.com, Toga! is National Lampoon's 24-hour on-demand video service that feature elements of National Lampoon College, the nation's largest and fastest growing independent college television network, features from the award-winning www.NationalLampoon.com website and materials from National Lampoon's current and rich history of motion pictures, DVD titles and television programming.

An overview of the studio with contact and submission information for interested writers can be found at www.nationallampoon.com/incubator.

About National Lampoon

National Lampoon, Inc. is active in a broad array of entertainment segments, including feature films, television programming, interactive entertainment, home video, audio CDs 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. The National Lampoon Network serves over 600 colleges and universities throughout the United States. The network reaches as many as 4.8 million students, or nearly one in four of all 18 to 24 year old college students. In addition, the Company operates a humor website, www.nationallampoon.com, on the Internet. The Company has four operating divisions: National Lampoon Network, Entertainment Division, Publishing Division and Licensing Division.

Forward-Looking Statements 

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