Humongous Entertainment and Lancit Media Entertainment to Create TV, Motion Picture and Home Video Programming Based on CD-ROM Superstars "Putt-Putt", "Freddi Fish" and "Pajama Sam"

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Lancit's Strategy Licensing Subsidiary Acts as Exclusive Licensing Agent for Beloved Children's Characters from Humongous Entertainment

Seattle and New-York, March 26, 1997 -- Humongous Entertainment, a subsidiary of GT Interactive Software Corp. (NASDAQ: GTIS), and Lancit Media Entertainment, Ltd. (NASDAQ: LNCT) jointly announced today that they have entered into a production alliance to create television, motion picture, and home video programming based on the family of original characters from Humongous Entertainment's best-selling, award-winning and hand-animated children's CD-ROMs.

The development/co-production agreement covers such well-known CD-ROM characters as Putt-Putt the lovable purple car, recently acclaimed by HomePC as "the most popular character ever to enter the HomePC Kids' Lab;" Freddi Fish, star of Family PC's Top-Rated Kid's Game; and Pajama Sam, the world's youngest superhero, whose new Junior Adventure Newsweek said "should top every family's must-have list."

Lancit Media Entertainment's Strategy Licensing subsidiary will represent these popular characters as exclusive merchandising and licensing agent. Humongous Entertainment, which has sold more than 3 million units worldwide and won more than 92 awards of excellence, is a leading creator of interactive animation for children. Humongous Entertainment was cited as one of "Six Firms Worth Watching in '96" by USA Today and featured as one of "25 Cool Companies" in Fortune magazine. GT Interactive Software Corp. acquired Humongous Entertainment in July of 1996.

"Humongous Entertainment has the most irresistible family of characters to come along in more than a generation," said Noel Resnick, Lancit Media Entertainment's Senior Vice President of Program Development. "And this is the first time millions of children have created strong interactive bonds with a family of such lovable characters before they debut on TV, video or the big screen. Kids literally hug their computers when they play with Putt-Putt, Freddi Fish and Pajama Sam. Imagine what television will do to enhance this relationship. We are excited to build a high-quality, long-term brand with Humongous Entertainment."

"Lancit Media Entertainment and Strategy Licensing, with their award-winning track record and commitment to quality, are ideal partners for growing Humongous Entertainment's brand and original characters into television, movies, home video and merchandise," said Ralph Giuffre, Humongous Entertainment's Executive Vice President of Marketing and Licensing. "The early interest in our characters from all of the major children's television and cable networks, plus potential licensees has been phenomenal. Now our dream team is in place and primed to take the best interactive family entertainment and characters to new levels."

Humongous Entertainment and Lancit Media Entertainment will share all net revenues derived from the programming sales, and each will participate in merchandising-related royalties from sales in product categories based on the programming and related characters.

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Lancit Media Entertainment, Ltd. is a leading creator and producer of high-quality children's and family programming including Reading Rainbow, a GPN/WNED production that received the 1996 Emmy Award for "Outstanding Children's Series," and The Puzzle Place, the popular daily PBS children's series produced in cooperation with KCET/Los Angeles.

Established in 1992 by Shelley Day and Ron Gilbert, Humongous Entertainment creates high-quality, hand-drawn, interactive Junior Adventures, Junior Field Trips and Junior Arcade CD-ROMs that encourage kids to explore, discover and have fun. Endearing original characters include Putt-Putt, Freddi Fish, Fatty Bear, Buzzy the Knowledge Bug and Pajama Sam. Humongous entertainment is a wholly owned subsidiary of GT Interactive Software Crop. (NASDAQ: GTIS).

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