ORLANDO, Fla., May 27, 2004 (PRIMEZONE) -- Raven Moon Entertainment, Inc. (OTCBB:RVNM) and its wholly owned subsidiary JB Toys, LLC are pleased to announce that they have signed a joint venture agreement with Serendipity Ltd. which will create a new joint venture company Serendipity Toys, LLC. The joint venture was created to manufacture and distribute select toys inspired by "Gina D's Kids Club," "Mr. Bicycle Man," and other future animated projects produced by Raven Animation Inc. a wholly owned subsidiary of Raven Moon Entertainment, Inc.
Serendipity Ltd. is a multi-million-dollar toy manufacturer located in New York and Hong Kong who mainly produces battery-operated toys, novelty, and seasonal items. Serendipity reports annual sales of over $25 million whose retail clients include Wal-Mart, Target, K-Mart, and Toys R Us among others.
The new joint venture company, Serendipity Toys, will manufacture product from Serendipity's 53,820-square-foot factory in Mainland China. Serendipity Toys will have the ability to produce 100,000 pieces of various products monthly. The factory is fitted with up-to-date equipment and manned by an efficient work force to handle and deliver high-end products.
Some of the Raven Moon and JB Toy products which will be produced by the joint venture will include the "Gina D's Kids Club" license of the "The Dandy Candy Line," "Wall and Table Clocks," "Digital Cameras for Kids," "Fiber Optic Home Decor," "Bathroom Bath Tub Play Environments," "Dance Mats," "Limbo Rock," "Animated Dolls with Changeable Speech Chips for Gina D & Miss Muffin," "Shaped Cookies in Kids Clubhouse Box," "Magical Gel Shape Stick-ums" and the new musical group called Gina D & The Transistor Sisters who are featured on "Gina D's Kids Club."
In addition to the products from the "Gina D's Kids Club" license, Serendipity Toys will manufacture and distribute toys and products which were inspired by the new action adventure figure "Mr. Bicycle Man." "Mr. Bicycle Man" is currently being animated by former Disney animators who are now part of the Raven Animation team.
"The joint venture is being formed to promote the whole line of toys more effectively. Under the terms of the joint venture Raven Moon Entertainment shareholders will benefit by receiving a bigger piece of the pie," stated Joey DiFrancesco, Raven Moon CEO.
Currently, Raven Moon Entertainment is producing 13 half-hour episodes of "Gina D's Kids Club," which is being offered to over 900 television stations by BKS Entertainment for a September 2004 air date launch. For Syndication information contact Len Koch at (201) 568-4800 or Keith Jablon at (321) 217-6994.
Company executives will be attending meetings with toy companies and executives at the New York Licensing Show in June.
For information go to www.ravenmoon.net. "Gina D's Kids Club" video products are only available through Club House Videos Inc. Visit www.clubhousevideos.com for details. For licensing call David Fingeroth at (201) 873-0678 or Shelly Goldberg at (818) 609-0678.
For Club House Videos Inc. investor information call 1-866-THE-APPLE or 1-866-843-2775 or Marc Jablon at (407) 877-5952 for Raven Moon Entertainment, Inc.
Safe Harbor Act Notice: This release may contain forward-looking statements that involve risks and uncertainties, including without limitation, acceptance of the company's products, increased levels of competition, product and technological changes, the company's dependence upon financing and third-party suppliers, and other risks detailed from time to time in the company's federal filings, annual report, offering memorandum, or prospectus. Specifications are subject to change without notice.