Under a master toy agreement, the company will develop a broad range of items based on Scholastic's top preschool property, including plush, figures, playsets, electronics, puzzles, art activity kits, lunch kits, slumber bags, kites and play tents.

According to Tamre Sutphen, senior vice president of marketing and sales, girls toys and activities, JAKKS Pacific, Inc., "We are excited to re-launch Child Guidance into the retail market with a plush and preschool program featuring evergreen licenses. The Child Guidance name always has and will continue to be synonymous with quality children's products and we look forward with this new initiative to continuing our mission of producing products based on classic children's properties, like Scholastic's Clifford The Big Red Dog, that are timeless."

Scholastic Media's Leslye Schaefer, senior vice president of marketing and consumer products, added, "Clifford The Big Red Dog is one of the most recognizable and beloved children's properties in the world. We're looking forward to this partnership with JAKKS as we look for new ways to grow Clifford and provide fans with quality products."

JAKKS plans to launch the Child Guidance plush and preschool product line in 2006 at mass and specialty retailers nationwide.

About Clifford The Big Red Dog®
Clifford The Big Red Dog is a "bone"afide children's literary classic. Written by Norman Bridwell and first published by Scholastic in 1963, there are now more than 115 million Clifford books in print. In fall 2000, everyone's favorite BIG red dog made his TV debut on PBS KIDS and the animated series rapidly became one of today's biggest hits. The top-rated show has received numerous accolades, most notably multiple Daytime Emmy Award nominations and the Humanitas Prize in the children's animation category for a groundbreaking episode about disabilities. A spin-off chronicling Clifford's "puppyhood," Clifford's Puppy Days(TM), premiered on PBS KIDS in fall 2003, and garnered its first Emmy Award in 2005 for Henry Winkler's performance as Norville, Clifford's city bird friend. Clifford's Puppy Days has also been recognized with a Parents' Choice Approved Seal. In 2004, Clifford jumped to the big screen in his first theatrical release, Clifford's Really Big Movie. The Clifford LIVE! tour also debuted this year along with a traveling museum exhibit, Adventures with Clifford The Big Red Dog, that is touring nationwide at children's museums and is currently at The Children's Museum in Boston until January 2006. Clifford's two websites (scholastic.com and pbskids.org) combined receive more than 18 million page views monthly.

About Scholastic Media
Scholastic Media (SM) is the entertainment and media division of Scholastic Inc., the global children's publishing and media company. A proven leader and innovator in the children's entertainment landscape and award-winning licensor and marketer of children's properties worldwide, SM ranks as one of the foremost producers of quality, family-oriented content for all platforms including television programming, feature films, home entertainment, interactive, and the Internet.

About Scholastic
Scholastic Corporation (NASDAQ:SCHL) is the world's largest publisher and distributor of children's books and a leader in educational technology. Scholastic creates quality educational and entertaining materials and products for use in school and at home, including children's books, magazines, technology-based products, teacher materials, television programming, film, videos and toys. The Company distributes its products and services through a variety of channels, including proprietary school-based book clubs, school-based book fairs, and school-based and direct-to-home continuity programs; retail stores, schools, libraries and television networks; and the Company's Internet site, www.scholastic.com.

About JAKKS Pacific, Inc.
JAKKS Pacific, Inc. is a multi-brand company that designs and markets a broad range of toys and consumer products. The product categories include: Action Figures, Art Activity Kits, Stationery, Writing Instruments, Performance Kites, Water Toys, Sports Activity Toys, Vehicles, Infant/Pre-School, Plush, Construction Toys, Electronics, Dolls and Pet Toys and Accessories. The products are sold under various brand names including JAKKS Pacific®, Play Along®, Flying Colors®, Road Champs®, Child Guidance®, Pentech®, Trendmasters®, Toymax®, Funnoodle®, Go Fly a Kite®, Color Workshop®, JPI™ and Plug It In & Play TV Games™. JAKKS and THQ are the members of THQ/JAKKS Pacific LLC, which publishes and markets WWE wrestling video games. For further information, visit www.jakkspacific.com or www.tvgames.com.