Raven Moon & JB Toys to Form Joint Venture with Serendipity Ltd.

Heathrow, Florida, UNITED STATES

ORLANDO, Fla., April 27, 2004 (PRIMEZONE) -- Raven Moon Entertainment, Inc. (OTCBB:RVNM), JB Toys, LLC and Serendipity Ltd. are pleased to announce plans to form a joint venture to manufacture, market, and distribute select toys inspired by "Gina D's Kids Club", "Mr. Bicycle Man", Gina D & "The Transistor Sisters" and other future animated projects produced by Executive Producers Joey & Bernadette DiFrancesco for Raven Moon Entertainment, Inc. and Raven Animation Inc.

The joint venture with Serendipity Ltd. comes after Serendipity USA signed a license request for a number of products including the "Gina D's Kids Club" Dandy Candy line that was on display at the Toy Building during the New York Toy Fair.

Some of the Serendipity USA products that will be included in the new joint venture agreement 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."

In addition to the products from the "Gina D's Kids Club" license, Serendipity has expressed an interest in manufacturing and distributing toys and products including "Gina D & The Transistor Sisters" and the award winning "Mr. Bicycle Man". "Mr. Bicycle Man" was created by Joey & Bernadette DiFrancesco who licensed the character exclusively to JB Toys, LLC a wholly owned subsidiary of Raven Moon Entertainment, Inc. for 10 years. The "Mr. Bicycle Man" theme song was recorded by Gina D who will also appear in the animated "Mr. Bicycle Man" public service announcement for television which is currently being animated under the direction of Mike Gibilisco by former Disney Animators who are now part of the Raven Animation, Inc. 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.

Established in 1989, Serendipity mainly produces battery-operated toys, novelty, and seasonal items. In the last 10 years, the company has continued to grow due to key factors such as strong R&D, large production line and capacity, and good reputation.

Serendipity is a very progressive company with a staff that works hard and efficiently to provide good quality services and outstanding products. Thus, we can firmly stand on our philosophy of the customer is always right.

Backed by our 53,820-square-foot factory in Mainland China, we can easily produce 100,000 pieces of various products monthly. It is fitted with up-to-date equipment and manned by an efficient work force to handle and deliver high-end products. Serendipity reports annual sales of over $25 million.

Currently, Raven Moon Entertainment is producing 17 half-hour episodes of "Gina D's Kids Club" which will be offered to major networks for a September 2004 air date launch.

Company executives will be attending meetings with toy companies and executives at the Licensing Show in New York in June.

For information go to www.ravenmoon.net.

For Raven Moon Entertainment, Inc. investor information call Marc Jablon at (407) 877-5952. For Licensing call David Fingeroth at (201) 873-0678 or Shelly Goldberg at (818) 609-0678.

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.


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