FUNimation Awards Case Closed Toy License to Southern Island

Jun 21st 2005
Navarre's FUNimation Entertainment Awards Case Closed Master Toy License to Southern Island

Action Figure licenses for Fullmetal Alchemist, Fruits Basket and Blue Gender also awarded

MINNEAPOLIS, (JUNE 21, 2005) -- Navarre Corporation (Nasdaq: NAVR), a leading publisher and distributor of a broad range of home entertainment and multimedia software products, today announced that its wholly-owned subsidiary FUNimation® Entertainment has awarded the Master Toy License for Case Closed™, the popular anime series known as Detective Conan in Japan, to Southern Island LLC. Southern Island was also awarded action figure licenses for FUNimation's Fullmetal Alchemist™, Fruits Basket® and Blue Gender® properties.

“Southern Island is a premier manufacturer of action figures for burgeoning markets such as anime, comics and video games and we are very pleased to partner with them,” said Gen Fukunaga, president and CEO of FUNimation Entertainment. “They understand the charisma of dynamic anime brands like Case Closed, Fruits Basket and Blue Gender, and they recognize the strong cross over appeal that Fullmetal Alchemist brings to the mass market.”

Southern Island signed four-year licenses for Case Closed, Fullmetal Alchemist, Fruits Basket and Blue Gender. The company will develop highly-articulated 6- to 8-inch action figures as well as a deluxe, 10- to 12-inch action figure lines for all properties. Southern Island will also develop busts and statues for Fruits Basket and Blue Gender. The company expects to show product for 2006 as early as American International Fall Toy Show this October.

About Southern Island
Southern Island LLC is a premier manufacturer of action figures, statues and busts for the comic, anime and video game markets. Comprising of today's leading artists, sculptors and licensors, Southern Island LLC is committed to creating innovative and high-quality products, including such licenses as Judo Girl™, Legend of Isis™, Tenth Muse™, Victoria's Secret Service™ and Zoo™. For more information on Southern Island or their products, please visit www.southernisland.com.

About FUNimation Entertainment
FUNimation® Entertainment, a wholly-owned 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 brands including broadcasting, licensing, production, internet, and home video sales and distribution. For images, or more information on FUNimation or any of its properties, contact Jeff Dronen at 817-788-0627, ext. 251 or jeff.dronen@funimation.com.

About Navarre Corporation
Navarre Corporation (Nasdaq: NAVR - News) is a publisher and distributor of a broad range of home entertainment and multimedia products, including PC software, CD audio, DVD and VHS video, video games and accessories. Since its founding in 1983, the company has established distribution relationships with customers across a wide spectrum of retail channels which includes mass merchants, discount, wholesale club, office and music superstores, military and e-tailers nationwide. The company currently provides its products to over 18,000 retail and distribution center locations throughout the United States and Canada. Navarre has recently expanded its business to include the licensing and publishing of home entertainment and multimedia content, primarily through the acquisitions of Encore Software, Inc., BCI Eclipse Company, LLC, FUNimation Productions, LTD. and the FUNimation stores, Ltd. For more information, please visit the company's web site at http://www.navarre.com.

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