New York, NY (February 2006) - Speed Racer Enterprises has teamed up with New York-based toy manufacturer Art Asylum, Inc. to create a unique product line based on of the classic Speed Racer animated television property including toys, collectibles, animated promos, and music, which will debut this month at the American International Toy Fair in New York City at the International Toy Center located at 200 5th Avenue, 10th floor, Suite 1057. Art Asylum will create animated promos that will be launched this summer, followed by DVD's that will be packaged with the new toy line hitting retail stores in the fall of 2006. Additionally, a follow-up soundtrack will hit stores in the fourth quarter of 2006, with all new music from some of today's hottest artists.

"Art Asylum is the perfect company to create a high-octane toy line in commemoration of Speed's 40th Anniversary celebration," said Speed Racer Enterprises EVP, James Rocknowski. "They are edgy, smart, and creative, and their work certainly speaks for itself," he continued. "We expect that our loyal fans will be very impressed and excited with the new line and we anticipate an entirely new generation of Speed Racer fans to jump on board."

International Truck and Engine Company, through a deal with Stone America Licensing, LLC, one of the nation's leading licensing and marketing firms, will also be a major addition to the Speed Racer property, as Art Asylum will feature International's CXT, RXT, MXT and MXT-MW truck models as animated vehicles within the promos.

"On behalf of International Truck & Engine, we look forward to working with Speed Racer Enterprises and Art Asylum as they launch these new Speed Racer toys," said Jeff Calfa, Senior Counsel of International Truck & Engine. "We are confident that this team will expertly convert the CXT and other International vehicles into the world of animation."

As part of the debut at Toy Fair, there will be a screening of a behind the scenes video diary of the project including a sneak-peek at the new toy line, as well as a major launch party in New York City. Additionally, Art Asylum will debut the new characters and vehicles, which will include the International Trucks animated XT Family.

"As for our client International Truck & Engine Company, this is a major extension of the current CXT licensing program," states Robert Stone, President of Stone America Licensing. "Now International's CXT via Speed Racer will become a product line for an entirely different age group and marketplace."

"This is a big honor for Art Asylum to be granted the Classic Speed Racer license and we look forward to making Speed Racer Enterprises and it's loyal fan base proud," said Art Asylum's VP Adam Unger. "This property holds a major place in the history of animation, and we are taking extreme care in holding up the integrity of the brand. After forty years, the characters, vehicles and storylines are still as relevant today as they were then - it's really remarkable."

Art Asylum has brought on board a myriad of new partners in order to facilitate the new brand strategy under Art Asylum Productions, LLC. They include Jeff Nodleman and Creative Group for animation promo production, Joseph "Tramp" Daley and Newton Cohen to oversee the music and production efforts, Stone America Licensing and International Truck and Engine Company for new vehicle incorporation, Casey Lau and his company, Hyperchild for character development and online strategies, Urban Youth Racing School, and NBA star and Philadelphia 76er Samuel Dalembert and his manager, Teddy Pendergrass Jr., as lead investors into the project via their company, Synergy Enterprises, LLC.

"This is a major opportunity for us, so we brought in some serious players to ensure that the new brand strategy is not only on target, cutting-edge and different than anything done in the past," said Unger. "We're doing everything in our power to make sure all of the pieces are in place so we can deliver a successful launch of our new Speed Racer toy line. We have created a new look and style based on the famed franchise, yet managed to maintain the feel and integrity of the original storylines," continued Unger. "The viral approach we are taking with the launch and marketing efforts will allow us to reach the millions of fans out there who love this property, as well as introduce it to a whole new generation. It's a challenge, but we are confident that the group we have assembled will bring this franchise to an entirely new level. We are all very excited about it."

About Art Asylum
Manhattan, New York based Art Asylum was founded by Digger and Donna Soldano in 1996 as a creative, design studio providing premier work service to the toy industry. In 2001, the company partnered with Adam Unger and the founders of Play Along Toys, Inc., to launch a successful boy's action toy company that created products for major brands like Star Trek, Tony Hawk, Bruce Lee, Kiss and built the MiniMates toy brand that continues on to this day. In 2005, after Play Along's successful sale to Jakks Pacific (JAKK) the company continued it's progress and has moved on as a fully integrated toy manufacture. In 2006, Art Asylum will be launching with several new licenses including Speed Racer, Madballs from American Greetings, Battlestar Galactica, Clive Barker's Jump Tribe and Advanced Play System's Arc Tiles. Visit www.artasylum.com for more information.

About Speed Racer Enterprises
Based in Santa Monica, California, Speed Racer Enterprises was formed in 1991 and owns the worldwide rights to the Classic Speed Racer animated television property. The company also manages all television distribution, merchandising, licensing and promotional activities for the property. For more information visit www.speedracer.com.