FOR IMMEDIATE RELEASE

                                               Contact:  Lisa Laube
                                                         President
                                                         Party City Corporation
                                                         973-453-0888


                   PARTY CITY CORPORATION NAMES GEORGE GRANOFF
              EXECUTIVE VICE PRESIDENT AND CHIEF OPERATING OFFICER

     ROCKAWAY N.J., July 12, 2006 - Party City Corporation today announced the
appointment of George Granoff as Executive Vice President and Chief Operating
Officer of the Company, America's largest party goods retail chain.

     Mr. Granoff, 60, has been working closely with the Company in an executive
consulting capacity for the past four months and will immediately assume
responsibilities for store operations, information technology, merchandise
planning and allocation and human resources. Prior to joining Party City, from
1992 to 2005, Mr. Granoff owned and operated a retail store concept specializing
in fine arts materials and also founded Sherborn Optical, a specialty store
within a store concept. Prior to 1992, Mr. Granoff led both the Ames and
Bradlees chain of department stores as President and COO.

     "We are very fortunate to have George join our management team," said Lisa
Laube, President of Party City Corporation. "With his experience and success
building brands and businesses, he is an ideal choice to help innovate and take
our national network of stores to new levels."

     Party City is America's largest party goods retail chain operating more
that 500 company-owned and franchise stores in the United States and Puerto
Rico.

     Amscan Holdings, Inc. designs, manufactures, contracts for manufacture and
distributes party goods, including paper and plastic tableware, metallic
balloons, accessories, novelties, gifts and stationery. In December 2005, Amscan
Holdings, Inc. completed its acquisition of Party City Corporation.

     Certain statements in this release are forward-looking and made pursuant to
the safe harbor provisions of the Private Securities Litigation reform Act of
1995. Forward-looking statements involve known and unknown risks and
uncertainties, which may cause our actual results in future periods to differ
materially from forecasted results. Those risks and uncertainties include, among
other things, the effect of price and product competition in the party goods
industry in general and in our specific market areas, our ability to anticipate
customer demand for products and to design and develop products that will appeal
to our customers, our ability to identify and realize acquisition synergies, the
availability and terms of capital to fund capital improvements, acquisitions and
ongoing operations, the effect of fluctuation in interest rates and foreign
currency, our ability to manage successfully our franchise program, our ability
to attract and retain qualified personnel, the effect of changes in raw material
and other costs of goods and services and economic conditions in general. Please
see our filings with the Securities and Exchange Commission for a more complete
discussion and analysis of these and other risks and uncertainties. You are
cautioned not to place undue reliance on such forward-looking statements, which
are made as of the date of this release, and we have no obligation or intention
to update or revise such forward-looking statements.


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