"We believe that our diversified group of properties and
significant financial resources will enable us to continue building
long-term value for our shareholders.

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International
Television and Westinghouse Broadcasting are known and respected
throughout the kids + family entertainment world.

4Kids Entertainment Announces Fourth Quarter And Year-End Results

36 $0.

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1 million in 2003 .1 million, as compared to $32. GI Joe and Magical Do Re Mi are scheduled to debut on
4Kids TV this fall.

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Business Editors/Entertainment Editors

LOS ANGELES----

Company Targets New Slate of Properties for 100 Billion Dollar
Kids Entertainment Marketplace

Earthworks Entertainment (OTCBB:EWKE) announced today that
Earthwork's Board Director Catherine Malatesta will oversee the
Company's new Merchandise Licensing and Entertainment Property
Marketing Division. Malatesta said: "Earthworks has an absolutely super,
power-house property in the Z-Force and a wonderful new brand
franchise in the Nine Dogs property.8 million, or $1. Fourth quarter net income was $5.05 per diluted share) in external costs to comply with
Section 404 of the Sarbanes -Oxley Act of 2002. Important factors beyond the Company's control,
including general economic conditions , consumer spending levels,
competition from toy companies, motion picture studios and other
licensing companies, the uncertainty of public response to the
Company's properties and other factors could cause actual results to
differ materially from the Company's expectations.

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03 per diluted share) of the 4Kids TV broadcast fee in 2004 as
compared with 2003.89 $1.

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Internationally Acclaimed Entertainment Executive Catherine Malatesta Heads up Earthworks New Merchandise Licensing Division

36 per diluted
share, as compared to $5. Further, while the
amount of the 4Kids TV broadcast fee paid to Fox for the broadcast
year beginning September 2004 is the same as the fee for the 2003
broadcast year, a shift in advertising revenue into the fourth
quarter, required the Company to amortize an additional $0.01 par value -
authorized, 3,000,000 shares;
none issued -- --
Common stock, $. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
FOR THE QUARTER AND YEAR ENDED DECEMBER 31, 2004 AND 2003
(In thousands of dollars, except share data)

For The Quarter Ended For The Year Ended
December 31, December 31,
2004 2003 2004 2003
---------- ---------- ---------- ---- -------

NET REVENUES $34,060 $32,398 $103,306 $102,079
---------- ---------- ---------- -----------

COSTS AND EXPENSES:
Selling , general and
administrative 9,344 9,747 36,755 33,743
Production service costs 3,087 1,263 10,029 7,819
Amortization of
television and film
costs and Fox broadcast
fee 13,712 12,742 36,669 36,946
---------- ---------- ---------- -----------
Total costs and
expenses 26,143 23,752 83,453 78,508
---------- ---------- ---------- -----------

INCOME FROM OPERATIONS 7,917 8,646 19,853 23,571

INTEREST INCOME 516 277 1,469 1 ,112
---------- ---------- ---------- -----------

INCOME BEFORE INCOME TAXES 8,433 8,923 21,322 24,683

INCOME TAXES 3,444 3,606 8,592 9,884
---------- ---------- ---------- ---- -------
NET INCOME $4,989 $5,317 $12,730 $14,799
========== ========== ========== ===========

PER SHARE AMOUNTS:
Basic earnings per
common share $0.

capp webbased

7 million
or $0.9 million
($. We expect that properties introduced last year such as One
Piece and the Royal Air Force will start to contribute to revenue in
2005.39 $0.11
========== ========== ========== ===========

Diluted earnings per
common share $0.

licencing thorp

Earthworks Entertainment creates , produces, markets and
distributes high quality children's and family oriented entertainment
properties . It then develops and markets these properties in exchange
for management, production and distribution fees and for a substantial
percentage of the worldwide merchandise licensing profits.

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Due to the fact that Earthworks faces
competition from other creators, producers, sellers, marketers,
distributors and licensors, and due to the uncertainty of the public's
response to Earthwork's children's and family entertainment
properties, actual results may differ materially from such
forward-looking statements.

Business Editors/Entertainment Editors

NEW YORK----4Kids Entertainment,
Inc . Additionally, the Company incurred approximately $1. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
DECEMBER 31, 2004 and 2003
(In thousands of dollars, except share data)

ASSETS 2004 2003
CURRENT ASSETS:
Cash and cash equivalents $111,759 $95,136
Investments 16,067 24,443

Total cash and investments 127,826 119,579

Accounts receivable - net 39,917 37,143
Prepaid 4Kids TV broadcast fee, net of
accumulated amortization of $64,306
and $36,447 in 2004 and 2003,
respectively 6 ,991 8,688
Prepaid income taxes 3,074 2,670
Prepaid expenses and other current
assets 1,759 1,690
Deferred income taxes 158 --

Total current assets 179,725 169,770

PROPERTY AND EQUIPMENT - NET 2,821 3,350

OTHER ASSETS:
Accounts receivable -
noncurrent, net 901 2,662
Investment in equity securities 726 726
Film and television costs - net 10,518 8,183
Deferred income taxes - noncurrent 2,241 2,575
Other assets - net 8,083 6,014

TOTAL ASSETS $205,015 $193,280

LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES:
Due to licensors $16,859 $11,835
Media payable 3,723 2,178
Accounts payable and accrued
expenses 12,589 9,706
Deferred revenue 6,855 8,070
Deferred income taxes -- 52

Total current liabilities 40,026 31,841

DEFERRED RENT 1,011 952

Total liabilities 41,037 32,793

COMMITMENTS AND CONTINGENCIES

STOCKHOLDERS' EQUITY
Preferred stock, $.36 $0.05
========== ========== ========== ===========

Weighted average common
shares outstanding -
basic 13,450,098 13,649,050 13,683,756 13,292,852
========== ========== ========== ===========

Weighted average common
shares outstanding -
diluted 14,005,534 14,568,176 14,335,343 14,156,291
========== ========== ========== ===========

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Alfred R.

marmaduke doonesbury

4KIDS ENTERTAINMENT, INC.

dilbert syndicates

TV website demonstrates the
convergence of the Internet and television and provides kids with
access to their favorite 4Kids' content, 24 hours a day, seven days a
week."

About 4Kids Entertainment

Headquartered in New York City with international offices in
London, 4Kids Entertainment, Inc.TV
The information contained in this press release, other than
historical information, consists of forward-looking statements within
the meaning of Section 27A of the Securities Act and Section 21E of
the Exchange Act.

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"We have begun an important initiative re-branding both the
Company's four hour block of programming on FOX as 4Kids TV and the
Company's consumer website as 4Kids.TV," continued Kahn. For further information , please visit the
Company's Web site at www.

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EarthworksEntertainment.
These entertainment properties are marketed in all areas of
commercial licensing including: TV + Home Video, Toys, Video Games,
Music, Books, Leisure + Play Items, Gifts + Novelties, Theme Parks,
Food + Drink Promotions, and Apparel. The diluted weighted average common shares
outstanding for the year ended December 31, 2004 were 14,335,343
shares compared to 14,156,291 shares in the prior year.3 million, or $0.

dilbert marmaduke

I will now bring other
hit-potential entertainment properties into the Company's Licensing
Division to raise our global profile/market share position.3 million as compared
to $102.0 million, or $0. 4Kids, through its
wholly owned subsidiaries, provides domestic and international
merchandise licensing; product development; television, film, music
and home video production and distribution; media buying and planning;
and Web site development.4Kids.

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The Company identifies entertainment properties that it
believes have the greatest success potential in the global
marketplace.
For fiscal year 2004 , net revenues were $103. Several factors,
however, adversely affected our 2004 earnings.
The Company 's upgraded 4Kids. The 4Kids.

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The top decision makers in the global TV + Licensing
community are on a first name basis with Cathy.

catalogued capp

Earthworks CEO, Peter Keefe stated: "Cathy's masterful marketing
accomplishments during her tenures at Warner Bros.

This News Release contains forward-looking statements which are
subject to the safe harbor provisions of the Private Securities
Litigation Act of 1995. Net income for the year was $12. Kahn, Chairman and Chief Executive Officer of 4Kids
Entertainment, said , "Our fourth quarter results reflect strong
holiday sales of Yu-Gi-Oh! and Teenage Mutant Ninja Turtles licensed
merchandise and our Cabbage Patch Kids dolls.TV website provides richer content
and streaming video of full length cartoon episodes of many of the
Company's popular shows.93 $1.

doonesbury zippy

Cathy will now work to
make our properties house-hold words the US + International
marketplace. Some will
be existing properties which already are broadcast on TV, these can
dramatically increase the Company's revenue streams in the near
future.

zippy kfs

"
Ms."
Please visit the Company website at
www .com to screen the Z-Force show Sneak
Preview and a Nine Dog Christmas video clip.
"Looking ahead ," Kahn said, "we are optimistic about 2005. We are also pleased to announce that we have signed a deal with
Hasbro to broadcast a new GI Joe animated series beginning in
September 2005.

capp licencing

Year over year reduced
revenue earned on Yu-Gi-Oh! was only partially offset by increased
revenue from our Teenage Mutant Ninja Turtles and Cabbage Patch Kids
properties. These statements may involve risks and uncertainties
that could cause actual results to differ materially from those
described in such statements.

zits licencing

We continue to move forward with our targeted growth campaign
to become a major player in the 100 billion dollar kids entertainment
consumer marketplace.

36 per diluted share, for
the same period in 2003.2
million ($.

zits rafferty

(NYSE: KDE) today announced financial results for the fourth
quarter and year ended December 31, 2004.4 million for the same period in
2003. (NYSE: KDE) is a global provider of
children's entertainment and merchandise licensing.01 par value -
authorized, 40,000,000 shares;
issued, 14,411,768 and 13,965,343
shares; outstanding 13,661,768 and
13,965,343 shares in 2004 and 2003,
respectively 144 140
Additional paid-in capital 58,068 52,798
Accumulated other comprehensive income 1,124 693
Retained earnings 119,586 106,856

178,922 160,487

Less- cost of 750,000 treasury shares 14,944 --

163,978 160,487

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $205,015 $193,280

4KIDS ENTERTAINMENT, INC.37 $0.

webbased cartoonists

We
anticipate continued strength in our core brands - Yu-Gi-Oh!, Teenage
Mutant Ninja Turtles and Cabbage Patch Kids - as well as contributions
from our new girls programming - Winx Club , Mew Mew Power and Magical
Do Re Mi. Although the Company believes that the
expectations reflected in such forward-looking statements are
reasonable, it can give no assurance that such expectations will prove
to have been correct.

webbased shagged

Cathy has been the
key executive responsible for implementing the global TV marketing
strategies for many hit properties including the truly massive
entertainment hit phenomenon, the original Teenage Mutant Ninja
Turtles.89 per diluted share, as compared to $14 .05 per
diluted share in 2003.
Net revenues in the fourth quarter ended December 31, 2004 were
$34.