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Non-Tech : JAKKS Pacific (JAKK)
JAKK 3.2000.0%3:33 PM EDTNews

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To: levy who wrote (210)9/7/1999 11:23:00 AM
From: JakeStraw  Read Replies (1) of 371
 
Jakks Pacific Inc. Signs Licensing Agreement to Develop New Toy Line for Schwinn/GT Corp.

MALIBU, Calif.--(BUSINESS WIRE)--Sept. 7, 1999--JAKKS Pacific Inc. (Nasdaq NM:JAKK - news) Tuesday announced that it has signed a three-year licensing agreement to develop a line of collectible toy products for Schwinn and GT Bikes, which market the popular dirt, vert and freestyle BMX action sport bikes.

Under its new Road Champs BXS (Bike Xtreme Sports) brand, JAKKS Pacific will develop, manufacture and market Schwinn and GT collectible die-cast and plastic vehicles and bicycles, action sport playsets, finger bikes, action figures based on Team Schwinn and Team GT, action figure playsets, handheld and tabletop games, and BMX bike keychains. JAKKS Pacific expects to ship the first products of the new line by mid-December with full product rollout in spring 2000.

Commented Stephen Berman, president and co-founder of JAKKS Pacific: ''Schwinn/GT is a perfect match for Road Champs. The company has been around since 1895 and fits with our strategy of licensing respected 'evergreen' brands. But it's also a world leader in racing and action sport bikes and the most recognizable bike brand name among kids.''

''Schwinn has always been about quality; we have more riders compete and place than any other team on the planet. Our dominating presence in the X-Games, MTV Sports/Music Festival and similar events makes us a perfect match with JAKKS Pacific,'' said Gregg Bagni, senior vice president of marketing for Schwinn.

JAKKS Pacific and its affiliates develop, manufacture and market toys and related products for children, including action figures featuring characters from the World Wrestling Federation, die-cast collectible and toy vehicles under the Road Champs® and Remco® brand names, Child Guidance® preschool toys and a line of fashion dolls and accessories.
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Contact:


JAKKS Pacific Inc., Malibu
Stephen Berman, 310/456-7799
or
Silverman Heller Associates, Los Angeles
Ruth Shaer/Eugene Heller, 310/208-2550
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