JAKKS Responds To Oaktree's Conditional Non-Binding Expression Of Interest

In response to a letter to Jakks Pacific, Inc. (the "Company") from Oaktree Capital Management, L.P. ("Oaktree") dated April 17, 2012, the Company sent the following letter to Oaktree:

April 17, 2012

VIA E-MAIL AND FEDERAL EXPRESS

Mr. Matthew Wilson

Mr. B. James Ford

Oaktree Capital Management, L.P.

333 South Grand Avenue, 28 th floor

Los Angeles, CA 90071

Gentlemen:

I am writing to acknowledge receipt earlier today of your letter in which you once again express an interest in acquiring JAKKS Pacific, Inc. ("JAKKS").

After 13 months, there is nothing new in your letter. You have not now and never have made a "cash offer" to acquire JAKKS. The only thing the JAKKS Board of Directors and its independent financial and legal advisors have been presented with are non-binding indications of interest and invitations to negotiate. Furthermore, your indication of interest remains—as it has been for over a year— subject to both due diligence and financing. Lastly, we note that your letter today does not even contain a price.

Your letter is replete with mischaracterizations and misstatements, which we will address and correct at the appropriate time.

Sincerely,

/s/ STEPHEN G. BERMAN

Stephen G. BermanChief Executive Officer, President, Secretary and Director

About JAKKS Pacific, Inc.

JAKKS Pacific, Inc. (NASDAQ: JAKK) is a leading designer and marketer of toys and consumer products, with a wide range of products that feature some of the most popular brands and children's toy licenses in the world. JAKKS' diverse portfolio includes Action Figures, Electronics, Dolls, Dress-Up, Role Play, Halloween Costumes, Kids Furniture, Vehicles, Plush, Art Activity Kits, Seasonal Products, Infant/Pre-School, Construction Toys and Pet Toys sold under various proprietary brands including JAKKS Pacific®, Creative Designs International™, Road Champs®, Funnoodle®, JAKKS Pets™, Plug It In & Play TV Games™, Kids Only!™, Tollytots® and Disguise™. JAKKS is an award-winning licensee of several hundred nationally and internationally known trademarks including Disney®, Nickelodeon®, Warner Bros.®, Ultimate Fighting Championship®, Hello Kitty®, Graco®, Cabbage Patch Kids® and Pokémon®. www.jakks.com

This press release may contain forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995) that are based on current expectations, estimates and projections about JAKKS Pacific's business based partly on assumptions made by its management. These statements are not guarantees of 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 statements due to numerous factors, including, but not limited to, those described above, changes in demand for JAKKS' products, product mix, the timing of customer orders and deliveries, the impact of competitive products and pricing, and difficulties with integrating acquired businesses. The forward-looking statements contained herein speak only as of the date on which they are made, and JAKKS undertakes no obligation to update any of them to reflect events or circumstances after the date of this release.

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