4Kids Entertainment Awards Mattel Master Toy License for WINX CLUB; New Animated Series Set To Premiere On 4Kids Entertainment's FOX BOX On June 19, 2004

NEW YORK--()--April 27, 2004--4Kids Entertainment, Inc. (NYSE:KDE), Rainbow Srl and Mattel, Inc. (NYSE:MAT) today announced a multi-year licensing agreement for Mattel to serve as master toy licensee for the WINX CLUB(TM), an animated series set to premiere on 4Kids Entertainment's FOX BOX kids network on June 19, 2004.

The master toy license grants Mattel the exclusive manufacturing and marketing rights for dolls, figures, accessories, plush, vehicles, play sets, games and puzzles, activity toy products, role playing products, youth electronics and visual toys. The first line of WINX CLUB fashion dolls is expected to be available in Fall 2004.

"Mattel has created an outstanding toy program that captures the property's characters and themes," said Alfred R. Kahn, Chairman and CEO of 4Kids Entertainment. "We look forward to working closely with Mattel to build the WINX CLUB into a unique and special brand for girls."

"WINX CLUB has already debuted in Italy and France with outstanding TV ratings and merchandise sales at retail," said Iginio Straffi, CEO of Rainbow Srl. "WINX CLUB will be broadcast in more than 40 countries by mid-2005. We are very confident with Mattel and 4Kids as partners, WINX CLUB will soar high around the world."

"After being introduced to the WINX CLUB, we were captivated by the quality of the animation, the compelling characters and imaginative storylines," said Tim Kilpin, Senior Vice President, Mattel. "We are delighted to team with 4Kids Entertainment and Rainbow on an exciting new property that we believe will appeal to the design-conscious, music-savvy girls of today."

The WINX CLUB tells the story of the magical world of MAGIX(TM), where five teenage friends attend the ALFEA COLLEGE OF FAIRIES(TM), a school for training aspiring fairies. These girls are smart, hip and fashionable with bewitching talents.

Influenced by top Italian designers, the WINX CLUB is produced in Italy by Rainbow and adapted for the U.S. by 4Kids Entertainment.

4Kids Entertainment represents broadcast and merchandise rights for the WINX CLUB in the U.S., Canada, U.K., Australia and New Zealand and worldwide master toy and video game rights, with the exception of Italy.

About 4Kids Entertainment

Headquartered in New York City with international offices in London, 4Kids Entertainment, Inc. (NYSE:KDE) is a global provider of children's entertainment and merchandise licensing. 4Kids, through its wholly owned subsidiaries, provides domestic and international merchandise licensing; television, film, music and home video production and distribution; media planning and buying; product development; and Web site development. For further information, visit the Company's Web site at www.4KidsEntertainment.com.

About Rainbow Srl

Founded in 1995 as a service company for multimedia and animated productions, Rainbow very quickly gained its international recognition in the field of animation series for television. Thanks to the staff's remarkable artistic skills and resolute, entrepreneurial management, the company's revenues, number of productions and licensing and merchandising initiatives have increased ten fold in the last few years making Rainbow the largest animation studio in Italy.

Today, Rainbow is one of the best known animation studios in Europe. It is one of the few in Europe that is able to internally cover all phases in the production of a cartoon. The company excels in giving the utmost attention to pre-production (concept, script-writing, characters and background development, etc.) and post-production steps (3D special effects, voice casting for dubbing, music and editing).

About Mattel

Mattel, Inc., (NYSE:MAT)(www.mattel.com) is the worldwide leader in the design, manufacture and marketing of toys and family products, including Barbie(R), the most popular fashion doll ever introduced. The Mattel family of toys and games is comprised of such best-selling brands as Hot Wheels(R), Matchbox(R), American Girl(R), and Fisher-Price(R), which also includes Little People(R), Rescue Heroes(TM), Power Wheels(R), as well as a wide array of entertainment-inspired toy lines. With worldwide headquarters in El Segundo, Calif., Mattel employs more than 25,000 people in 36 countries and sells products in more than 150 nations throughout the world. The Mattel vision is to be the world's premier toy brands -- today and tomorrow.

The information contained in this press release, other than historical information, consists of forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. 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

For 4Kids Entertainment:
KCSA Investor Relations, New York
Todd Fromer/Michael Cimini
212-896-1215/ 212-896-1233
todd@kcsa.com/mcimini@kcsa.com
or
SSA Public Relations
New York: Blanche Frankel, 212-679-4750
Los Angeles: Steve Syatt, 818-501-0700
or
For Rainbow:
Alessandra Losacco
Tel : +39-07175067500
Fax: +39-0717501690
a.losacco@rbw.it
or
For Mattel
Julia Jensen, 310/252-4592
Stacey Gomoljak, 310/252-5062

Contacts

For 4Kids Entertainment:
KCSA Investor Relations, New York
Todd Fromer/Michael Cimini
212-896-1215/ 212-896-1233
todd@kcsa.com/mcimini@kcsa.com
or
SSA Public Relations
New York: Blanche Frankel, 212-679-4750
Los Angeles: Steve Syatt, 818-501-0700
or
For Rainbow:
Alessandra Losacco
Tel : +39-07175067500
Fax: +39-0717501690
a.losacco@rbw.it
or
For Mattel
Julia Jensen, 310/252-4592
Stacey Gomoljak, 310/252-5062