4Kids Entertainment Named Licensing, Marketing and Promotional Agent for Russian Animated Family Sensation ”Smeshariki”

Eastern European Family Favorite to Make US Debut Saturday Morning in TheCW4Kids Block in 2008-’09 Television Season

4Kids Entertainment, Inc. (NYSE: KDE), the diversified children’s entertainment and media organization, has been appointed licensing, marketing and promotional agent for the smash-hit Russian animated series Smeshariki in the Americas, Asia and English-speaking territories, by rights holder FunGameMedia of Munich.

Through this agreement, 4Kids Productions will also be adapting the more than 200 episodes of the Smeshariki animated series produced by Animation Studios of St. Petersburg for its US broadcast debut in TheCW4Kids Saturday block on the CW Network in the 2008-’09 television season as well for international broadcast.

4 Kids Entertainment will officially launch this property today in the U.S. at Licensing Expo ’08.

Smeshariki follows the adventures of a hilarious group of colorful, roundly-shaped characters. Since launching in Russia in 2003, nearly 5.5 million viewers tune in daily to watch the series. The popularity of the series has surged over the past five years, garnering the brand a staggering 80% recognition in the region, making it a leader in the Russian licensing market. Over 3000 Smeshariki licensed products are sold in Russia, ranging from apparel and toys to publishing and food from such world class partners as UNICEF, Aeroflot, LG, Chupa Chups and Egmont Publishing. The television series has been recognized with several entertainment honors, including the prestigious “Cartoons On The Bay” award.

Supporting the television launch of Smeshariki this fall, 4Kids Entertainment is planning a full-scale licensing program across multiple categories including toys, publishing, apparel and stationary. Building on the success of its popular daily radio show and branded gift shops throughout Russia, a Smeshariki feature film release is in pre-production and scheduled for release in 2010.

“Smeshariki is innovative and imaginative, and its unique combination of humor, and colorful palette of personality will quickly become a favorite of retailers and manufacturers in a myriad of product categories,” said Alfred R. Kahn, Chairman and CEO, 4Kids Entertainment. “With the enormous success of the property in Russia, we are confident that Smeshariki has the potential to grow into a successful evergreen property in the U.S.”

The world of Smeshariki is a world of adventure, creativity and friendship. From turning snores into energy, discovering the amazing power of dreams, and even finding a way to make the sun shine on a rainy day, the characters work to solve problems in an unexpected, creative and funny way. The positive values they transmit – friendship, diligence and inventive talent – are timeless.

4Kids has a strong history of mining the globe to identify new properties that can become both U.S. and global sensations. 4Kids is the entertainment powerhouse that turned Japanese properties Pokémon and Yu-Gi-Oh! into multi-billion dollar worldwide franchises.

About 4Kids Entertainment, Inc.

With U.S. headquarters in New York City, regional offices for its trading card business in San Diego, California and international offices in London, 4Kids Entertainment, Inc. (NYSE: KDE) is a global organization devoted to the creation, development, production, broadcasting, distribution, licensing and manufacturing of children’s entertainment products.

Through its subsidiaries, 4Kids produces animated television series and films, distributes 4Kids’ produced or licensed animated television series for the domestic and international television and home video markets, licenses merchandising rights worldwide to 4Kids’ owned or represented properties, operates Web sites to support 4Kids’ owned or represented properties, and produces and markets collectible trading card games. Additionally, the Company programs and sells the national advertising time in a four-hour “4KidsTV” block which airs on nearly 200 affiliated FOX television stations Saturday mornings. Beginning in September 2008, the Company will also program and sell the national advertising time in the five-hour Saturday morning block on The CW television network.

Additional information is available on the www.4KidsEntertainment.com corporate web site and at the www.4Kids.tv game station site.

The information contained in this press release, other than historical information, consists of forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may involve risks and uncertainties that could cause actual results to differ materially from those described in such statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Important factors beyond the Company’s control, including general economic conditions, consumer spending levels, competition from toy companies, motion picture studios and other licensing companies, the uncertainty of public response to the Company’s properties and other factors could cause actual results to differ materially from the Company’s expectations.

Contacts

4Kids Entertainment
Barry Stagg, 646-822-4257
bstagg {at} 4kidsent(.)com
or
Dan Klores Communications
Karen Silberg/Beth Mellow
212-685-4300
Karen_Silberg {at} dkcnews(.)com/Beth_Mellow {at} dkcnews(.)com