Funimation Changes Name

May 11th 2005
FUNimation Announces Name Change to FUNimation Entertainment

New identity to better reflect the evolving company



Ft. Worth, TX (May 11, 2005) - Following on the heels of Navarre Corporation's completed acquisition of FUNimation Productions, LTD., FUNimation today announced that it will now be known as FUNimation Entertainment. The company is a subsidiary of Navarre Corporation (Nasdaq: NAVR) and has implemented a new logo that reflects the name change and its new position within the Navarre family.

"FUNimation Entertainment is a name that better encompasses our business model and expanding focus. We are still a production company, but we have evolved into much more," said Gen Fukunaga, president and CEO of FUNimation Entertainment, a Navarre Corporation company. "FUNimation is a brand management company, a licensing company and one of the nation's leading independent home video entertainment companies."

Fukunaga goes on to explain that the change highlights the increasing diversity of the company's business model and will further position FUNimation Entertainment as a fully integrated entertainment company.

FUNimation plans to implement the name change and new logo immediately. The company is carrying its excitement about the Navarre acquisition and the name change into this year's Licensing Show in New York City on June 21, which will be the first public display of FUNimation's new look.



ABOUT FUNIMATION ENTERTAINMENT
FUNimation Entertainment, a subsidiary of Navarre Corporation (Nasdaq: NAVR), is a brand management company and one of the nation's leading independent home video entertainment companies. The company has a proven formula for launching and advancing brands, and manages a full spectrum of rights with its entertainment brands including broadcasting, licensing, production, internet, and home video sales and distribution.

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