JAKKS Pacific Reintroduces Activision Tv Games

JAKKS Pacific Reintroduces
Activision Tv Games – 80s Original Reincarnated –

New Activision Joystick Launches
for the New Year With a New Look

MALIBU, Calif., Feb. 12 JAKKS
Pacific, Inc. (Nasdaq: JAKK) brings back old-school Activision(R) video game
titles with the newly re-vamped Activision TV Games. The 10 original, classic
Activision video games first released as Activision TV Games by Toymax Inc. in
2001, are now housed in a re-designed joystick, which looks and feels like a
retro Atari(C) 2600 controller from the 80’s. The new Activision TV Games is a
plug and play gaming system that contains multiple classic games in one single
controller.

The re-introduction of Activision TV
Games follows on the heels of other successful TV Games launches by JAKKS
Pacific, including Atari(R) TV Games and Namco(R) TV Games, awarded PC World
Magazine’s Next Gear Innovations Award for most innovative products of 2004.

"Our TV Games line has taken on a
life of its own," commented Nelo Lucich, vice president of interactive, JAKKS
Pacific, Inc. "We think the re-design of the classic games on the Activision
unit, along with the redesign on the controller will generate solid interest at
retailers nationwide who have seen strong sales with the Namco and Atari units."

Activision TV Games takes gamers
down memory lane with classics such as Pitfall!(R), Atlantis, River Raid(R),
Spider Fighter, Crackpots, Freeway(R), Tennis(TM), Boxing(TM), Ice Hockey(TM),
and Grand Prix. All that is needed are batteries and a TV — No videogame
consoles and no gaming cartridges are required! Simply plug TV Games into the
A/V jacks of any standard television set, turn on and play! The lightweight,
compact, all-inclusive controller, houses a combination of videogames with all
of the hardware built right into the controller. This technology allows gaming
fans to enjoy a number of videogames with just one single purchase.

Activision TV Games is expected to
have a suggested retail price of approximately $20, and will be available at
retailers nationwide for Spring 2004.

For more information on Activision
TV Games and JAKKS’ other TV Games products, please visit
www.jakkstvgames.com .

About Activision, Inc.:

Headquartered in Santa Monica,
California, Activision, Inc. is a leading worldwide developer, publisher and
distributor of interactive entertainment and leisure products. Founded in 1979,
Activision posted net revenues of $864 million for the fiscal year ended March
31, 2003.

Activision maintains operations in
the U.S., Canada, the United Kingdom, France, Germany, Italy, Japan, Australia,
Scandinavia and the Netherlands. More information about Activision and its
products can be found on the company’s World Wide Web site, which is located at
www.activision.com .

The statements contained in this
release that are not historical facts are "forward-looking statements." The
Company cautions readers of this press release that a number of important
factors could cause Activision’s actual future results to differ materially from
those expressed in any such forward-looking statements. These important factors,
and other factors that could affect Activision, are described in Activision’s
Annual Report on Form 10-K for the fiscal year ended March 31, 2003, which was
filed with the United States Securities and Exchange Commission. Readers of this
press release are referred to such filings.

Activision, Pitfall!, River Raid and
Freeway are registered trademarks of Activision Inc., and its affiliates.

About JAKKS Pacific, Inc.:

JAKKS Pacific, Inc. is a multi-brand
company that designs and markets a broad range of toys and leisure products. The
product categories include: Action Figures, Arts & Crafts Activity Kits,
Stationery, Writing Instruments, Performance Kites, Water Toys, Sports Activity
Toys, Vehicles, Infant/Pre-School, Plush and Dolls. The products are sold under
various brand names including Flying Colors(R), Road Champs(R), Remco(R), Child
Guidance(R), Pentech(R), Trendmasters(R), Toymax(R), Funnoodle(R), Go Fly a
Kite(R) and JPI Color Workshop(TM). The Company also participates in a joint
venture with THQ Inc. that has exclusive worldwide rights to publish and market
World Wrestling Entertainment(TM) video games. For further information, visit
www.jakkspacific.com. 

This press release contains
statements that are forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These statements are based on current
expectations, estimates and projections about JAKKS’ business based, in part, on
assumptions made by its management. These statements are not guarantees of JAKKS’
future performance and involve risks, uncertainties and assumptions that are
difficult to predict. Therefore, actual outcomes and results may differ
materially from what is expressed or forecasted in such forward-looking
statements due to numerous factors, including, but not limited to, those
described above and the following: changes in demand for JAKKS’ products,
product mix, the timing of customer orders and deliveries, the impact of
competitive products and pricing and difficulties encountered in the integration
of acquired businesses. The forward-looking statements contained herein speak
only as of the date on which they are made, and JAKKS does not undertake any
obligation to update any forward-looking statement to reflect events or
circumstances after the date of this release.

SOURCE JAKKS Pacific, Inc.

"Safe Harbor" Statement under the
Private Securities Litigation Reform Act of 1995: Statements in this press
release regarding JAKKS Pacific Inc.’s business which are not historical facts
are "forward-looking statements" that involve risks and uncertainties. For a
discussion of such risks and uncertainties, which could cause actual results to
differ from those contained in the forward-looking statements, see "Risk
Factors" in the Company’s Annual Report or Form 10-K for the most recently ended
fiscal year.