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PYPB is trading up 200% this morning following this Pokemon news. (COMTEX) B: PLAY-BY-PLAY AWARDED LICENSING RIGHTS FOR NINTENDO'S 'POKEMON' SAN ANTONIO, Sep 2, 1999 /PRNewswire via COMTEX/ -- Play-By-Play Toys & Novelties, Inc. (Nasdaq: PBYP) today announced that it has been awarded licensing rights through Leisure Concepts, Inc., a 4KIDS Entertainment Company (Nasdaq: KIDE), the exclusive agent of Nintendo of America Inc., for Nintendo's Pokemon. Play-By-Play will be designing, manufacturing and distributing plush toys and novelties including beanbags, keychains and temporary tattoos based on the popular Nintendo video game Pokemon for distribution within the United States amusement market. Raymond Braun, President and Chief Operating Officer of Play-By-Play, commented, "Nintendo's Pokemon has become an overnight phenomenon and we are thrilled to bring Pokemon products to fans in the domestic amusement market. The popularity and appeal of Pokemon complements and extends our existing licensed character offerings within the amusement market, our most significant channel of distribution." The popularity of Pokemon is based on the concept of collecting, developing and trading over 150 different Pokemon. Since its introduction to the United States in September 1998, Pokemon has become an overnight booming phenomenon. Pokemon is a top selling Nintendo video game property, a #1 rated kid's television show in U.S. syndication, as well as a #1 show on the Warner Bros. Television Network. The Company expects to begin shipping Pokemon merchandise to the amusement market in the early spring. Play-By-Play Toys & Novelties, Inc. designs, develops, markets and distributes a broad line of quality stuffed toys, novelties and its Play-Faces line of sculpted toy pillows based on its licenses for popular children's entertainment characters, professional sports team logos and corporate trademarks. The Company also designs, develops and distributes electronic toys and non-licensed stuffed toys, and markets and distributes a broad line of non-licensed novelty items. Play-By-Play has license agreements with major corporations engaged in the children's entertainment character business, including Warner Bros., The Walt Disney Company, Paws, and many others, for properties such as Looney Tunes, Winnie the Pooh, Batman, Superman, Mickey Mouse and Garfield. Except for the historical information contained herein, the matters discussed in this release are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially, including, without limitation, risks associated with the Company's liquidity and capital resources, relationships with licensors, competitive and economic factors, price changes by competitors, ability to manage growth, ability to source products, international trade relations, management of quarter to quarter results, increase in costs of raw materials, timing of technological advances by the Company and its competitors, lack of acceptance by consumers of new products, and the other factors discussed in the "Risk Factors" section of the Company's Form 10-K dated July 31, 1998. Updated information will be periodically provided by the Company as required by the Securities Exchange Act of 1934. SOURCE Play-By-Play Toys & Novelties, Inc. (C) 1999 PR Newswire. All rights reserved. prnewswire.com -0- CONTACT: Joe M. Guerra, Chief Financial Officer of Play-By-Play Toys & Novelties, Inc., 210-804-4726; Investor Relations - Donna Stein, Cindy Reid, or Jill Meleski, Media - Gregory Tiberend, all of Morgen-Walke Associates, Inc., 212-850-5600, for Play-By-Play Toys & Novelties, Inc. (PBYP KIDE) | ||||||||||||||
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