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John Turitzin Joins Marvel As EVP And General Counsel; Appointment Extends Marvel's Build-Out of its Senior Management Team.

Business Editors

NEW YORK--(BUSINESS WIRE)--March 4, 2004

Marvel Enterprises, Inc. (NYSE: MVL) announced today the appointment of John Turitzin, age 48, as Executive Vice President and General Counsel. Mr. Turitzin has served as outside counsel to Marvel Enterprises and its predecessor, Toy Biz, Inc., since its formation in 1993. He assumes the role from CEO Allen Lipson.

Mr. Turitzin has practiced corporate law on behalf of a broad base of corporate clients for over 20 years. Mr. Turitzin joins Marvel from Paul, Hastings, Janofsky & Walker LLP. Prior to becoming a partner at Paul, Hastings, Mr. Turitzin was a partner at Battle Fowler LLP, which he joined in 1985. Mr. Turitzin began his legal career as an associate at Cahill Gordon & Reindel. Mr. Turitzin graduated from Earlham College and earned a J.D. from New York University School of Law and a Masters in Public Affairs from the Woodrow Wilson School at Princeton University.

Commenting on the appointment, Marvel CEO, Allen Lipson, stated, "We are thrilled to welcome John as Executive Vice President and General Counsel of Marvel. John is a talented and effective attorney who has made tremendous contributions to both Marvel and its predecessor, Toy Biz, over many years. His joining Marvel in an executive capacity seems a natural evolution of our close working relationship, and we will benefit from his in-depth knowledge of the key legal and business issues relating to our intellectual property and licensing-based business model.

"John's appointment is an important step in a larger strategic effort to enhance and broaden our executive team - across all key areas of our business - to better position Marvel for long term growth. Recent appointments include the addition of Tim Rothwell, President of Marvel's Worldwide Consumer Media Group; Bruno Maglione, President, International; Bill Rahn, Managing Director, Japan and Asia; David Maisel, President and COO Marvel Studios; Dan Buckley, Publisher of Marvel Comics; and Gui Karyo, President Publishing and CIO, who was appointed to oversee operational and fiscal management of our publishing business."

About Marvel Enterprises

Marvel Enterprises, Inc. is a leading global character-based entertainment licensing company with the world's largest character library of more than 4,700 properties, which have entertained generations for over 60 years. Though principally focused on licensing, Marvel has talented creative teams in its Consumer Products (licensing), Marvel Studios, Marvel Comics and Toy Biz divisions. These divisions support the development of a broad range of entertainment (film/television/dvd), consumer products, toys, comics/trade paperbacks and promotions based on the Marvel characters. Visit http://www.marvel.com for more information.

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.
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Publication:Business Wire
Geographic Code:1USA
Date:Mar 4, 2004
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