Funimation, Verizon FiOS Sign Distribution Agreement

Jun 8th 2006
*** Navarre's FUNimation Entertainment and Verizon Sign Distribution
Agreement ***
-- The FUNimation Channel to be part of Verizon's FiOS TV lineup --

Fort Worth, TX – June 8, 2006 – FUNimation® Entertainment, a
wholly-owned subsidiary of Navarre Corporation (NASDAQ: NAVR), and one of the
nation's leading brand management and independent home video entertainment
companies, announced today that the company has signed an agreement
with Verizon for distribution of the FUNimation ChannelSM as part of the
Verizon FiOS TV service.

“We are proud to be one of the channel offered through Verizon's FiOS
TV service,” explained Gen Fukunaga, president and CEO of FUNimation
Entertainment. “This is another step in FUNimation's broadcast strategy to
bring the best anime to North America. We hope to grow with Verizon's
FiOS TV initiative and expand awareness of high quality anime series
throughout the United States.”

The FUNimation Channel is a 24-hour digital network featuring
programming from top anime brands in the United States. It will be added to the
FiOS TV Premier package in summer 2006.
Verizon FiOS TV offers a broad collection of all-digital programming
including more than 20 high-definition channels. It is now available in
parts of north Texas, Florida, California, Virginia, Massachusetts,
Maryland and New York, - and will expand to other markets in 2006.
FUNimation is working with OlympuSAT, a leading distributor of
independent digital programming networks, for the distribution of the
FUNimation Channel. OlympuSAT is the exclusive distributor of the FUNimation
Channel, which is now available to video service providers across the
nation.

About Navarre Corporation
Navarre Corporation (NASDAQ: NAVR) 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 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 Store, Ltd. For more information, please visit the
company's web site at www.navarre.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's most recent initiative is the FUNimation ChannelSM, a new, 24-hour
digital network featuring programming from the top anime brands in the
United States. FUNimation has a proven formula for launching and
advancing brands, and manages a full spectrum of rights for most of its
brands including broadcasting, licensing, production, internet, and home
video sales and distribution.


About OlympuSAT
OlympuSAT, Inc. distributes independently owned and operated digital
networks on individual transponder platforms and currently represents
more than twenty diverse channels through their Hispanic and Faith &
Families Packs. A turnkey service provider, OlympuSAT facilitates technical
related services for the transponder and uplink along with affiliate
sales services. Additional services provided to networks include, as
needed, master control, advertising sales and traffic and billing
services. The OlympuSAT suites are distributed via Intelsat Americas 13. An
affiliate of Ocean Communications, OlympuSAT is based in West Palm
Beach Florida, serving homes nationwide. www.olympusat.com

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