Exhibit 99.1

FOR IMMEDIATE RELEASE

Contact:  Amscan Holdings, Inc.
James M. Harrison
(914) 784-4014

Michael A. Correale
(914) 784-4050


                 AMSCAN ANNOUNCES MERGER AND RECAPITALIZATION


Elmsford, NY - March 29, 2004 - Amscan Holdings, Inc., Berkshire Partners LLC
and Weston Presidio jointly announced today the signing of a definitive merger
agreement providing for a recapitalization of Amscan in which Amscan will merge
with AAH Acquisition Corporation, a newly-formed corporation affiliated with AAH
Holdings Corporation, an entity jointly controlled by affiliates of Berkshire
Partners and Weston Presidio. The total value of the transaction, including
equity and debt, is approximately $540 million. Under the terms of the
agreement, GS Capital Partners II, L.P., and certain other funds managed by or
otherwise affiliated with Goldman, Sachs & Co., which currently own
approximately 71% of Amscan, will transfer all of their equity interests in the
Company.

Gerald C. Rittenberg, Chief Executive Officer of Amscan, said, "This transaction
confirms the market's positive view of our business strategy and prospects, and
the value of our franchise as a leader in the party goods business. Our new
capital structure and equity partners will provide us with the means and support
to build on our platform and to continue to exploit new opportunities."

Berkshire Partners and Weston Presidio have received a commitment from Goldman
Sachs Credit Partners L.P. for a senior debt facility and a bridge financing
facility for its senior subordinated debt financing. In connection with the
transaction, Amscan intends to commence a cash tender offer to purchase any and
all of Amscan's outstanding 9.875% Senior Subordinated Notes due 2007. The offer
will be conditioned upon the closing of the merger and will be subject to other
terms and conditions that will be included in the offering materials.

The merger is subject to customary conditions including the approval of Amscan
stockholders, the availability of the contemplated financing, the expiration of
antitrust waiting periods and certain other conditions. Shareholders of Amscan
representing approximately 99% of the outstanding Amscan stock have agreed to
vote in favor of the transaction. The transaction is expected to close in
mid-2004.

Goldman, Sachs & Co. advised Amscan on the transaction.

"Amscan has become the leading company in the party goods industry by
continually providing their customers with innovative designs and outstanding
service," said Robert J. Small, Managing Director at Berkshire Partners. "The
Company is uniquely positioned for continued success and we are excited to
support Amscan's growth plan as it focuses on new opportunities."






Kevin M. Hayes, General Partner of Weston Presidio, added, "Amscan's management
team, led by Gerry Rittenberg and Jim Harrison, are proven leaders in their
field and have historically identified and exploited new areas for growth. We
are excited to support them in the next stage of Amscan's development."

Terrence M. O'Toole, Managing Director and Chief Operating Officer of Goldman,
Sachs & Co.'s Principal Investment Area, and Chairman of the Board of Amscan,
said "Since the time Goldman Sachs first invested in Amscan in 1997, Gerry
Rittenberg, Jim Harrison and their management team have achieved tremendous
financial results in a range of economic conditions. They have executed a
strategic plan that moved the company into new sales channels, allowed it to
introduce new product lines and strengthened its leadership position in the
party goods industry. Amscan is well-positioned as a leader in a growing and
economically resilient industry, and we wish Amscan, Berkshire Partners and
Weston Presidio future success."

Amscan designs, manufactures and distributes decorative party goods, including
paper and plastic tableware, accessories and novelties. Amscan also designs and
distributes home, baby, wedding and other gift items.

Berkshire Partners has invested in mid-sized private companies for the past
twenty years through six investment funds with aggregate capital commitments of
approximately $3.5 billion. The firm's investment strategy is to seek companies
that have strong growth prospects and to partner with talented management teams
who are interested in being owners of the companies they operate. Berkshire has
developed specific industry experience in several areas including consumer
products, industrial manufacturing, transportation, communications, business
services, and retailing and related services. Over the past decade, Berkshire
has been an investor in over 75 operating companies with more than $11.0 billion
of acquisition value and combined revenues in excess of $14.0 billion.
Additional information may be found at www.berkshirepartners.com.

Weston Presidio, founded in 1991, is a private equity firm with over $2.3
billion under management. With offices in Boston, San Francisco, and Menlo Park,
Weston Presidio has worked side by side with world-class management teams
throughout North America and Europe. Weston Presidio has a multi-industry
investment strategy that has allowed the firm to partner with over 200 portfolio
companies in a variety of industries including consumer products and retail,
manufacturing and industrial, media, service, and technology. Representative
investments include Associated Materials, JetBlue Airways, Restoration Hardware,
Hunter Fan, Fender Musical Instruments, and Nebraska Books. For more
information, visit www.westonpresidio.com.

Goldman Sachs is a leading global investment banking, securities and investment
management firm that provides a wide range of services worldwide to a
substantial and diversified client base that includes corporations, financial
institutions, governments and high net worth individuals. Founded in 1869, it is
one of the oldest and largest investment banking firms. Goldman Sachs is a
global leader in corporate equity and mezzanine investing. To date, Goldman
Sachs has formed ten investment vehicles aggregating over $17 billion of
capital. For more information, please visit www.gs.com/pia.




Any statements released by Amscan that are forward-looking are made pursuant to
the safe harbor provisions of the Private Securities Litigation Reform Act of
1995. Terms such as "intends," "anticipates," "expects," words of similar import
and variations on such words are intended to identify forward-looking
statements. Investors are cautioned that forward-looking statements necessarily
involve risks and uncertainties which are difficult to predict and actual
outcomes may materially vary from what is expressed or forecasted in such
forward-looking statements.