Dramatic Ninja Epic to Come to the United States

FORT WORTH, Texas, March 28 /PRNewswire/ -- FUNimation(R) Entertainment, a
wholly-owned subsidiary of Navarre Corporation (Nasdaq: NAVR), announced today
that it has acquired rights to the live action film SHINOBI from Shochiku,
Japan's leading entertainment conglomerate. FUNimation has acquired
theatrical, DVD and broadcast rights to the SHINOBI film.

"This is a gorgeous live action film and we are excited to work with a
company as well-known and respected as Shochiku," said Gen Fukunaga, president
and CEO of FUNimation Entertainment. "This is such a great looking piece that
we are researching much wider distribution efforts including broadcast and

Masaki Koga, the Head of Shochiku's International Business Division, said,
"We are very proud of 'Shinobi' and hope that its success in the U.S. mirrors
its success in Japan. FUNimation is one of the premiere specialty
distributors in North America and the ideal distributor for this film."

Set in 17th Century Japan, SHINOBI tells the story of two warring Ninja
tribes, each with special fighting abilities and techniques. The tribes are
forced to fight each other in order to keep their existence. The young
leaders of each tribe are in love, but are inevitably torn apart in the
conflict. SHINOBI is fast pacing ninja action meets Romeo and Juliet.

The SHINOBI storyline was adapted from the Kouga Ninja Scrolls, a best
selling novel in Japan. The popularity of this novel also served as the
inspiration for an anime series called Basilisk, which FUNimation has also

SHINOBI was released in Japan in September 2005 and became a critical and
commercial success for the company, earning over 1,400,000,000 yen at the
Japanese box office.

About Shochiku
Founded in 1895, Shochiku functions as a highly-tuned vertically
integrated entertainment entity, encompassing feature film and television
production, theatrical distribution of Japanese & foreign motion pictures,
worldwide sales, exhibition, DVD and home video distribution and the Kabuki
Shochiku operates one of the most successful motion picture divisions in
Japan. The company has produced a number of critically and financially
successful films, including the 2004 Academy Award(R) nominee for best foreign
language film "The Twilight Samurai," directed by Yoji Yamada, the first
Japanese Academy Award nomination for a live-action film in 22 years.
( http://www.shochikufilms.com )

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 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 Store, Ltd. For
more information, please visit the company's web site at
http://www.navarre.com .

About FUNimation Entertainment
FUNimation(R) 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 Channel(SM), 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

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