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FOR:                         4Kids Entertainment, Inc.

KCSA                       Todd Fromer / Michael Cimini
CONTACTS:            (212) 896-1215 / (212) 896-1233
                                  todd@kcsa.com / mcimini@kcsa.com

4Kids Entertainment Breaks $100 Million In Revenues For 2003

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Diluted EPS More Than Doubles From $0.51 In 2002 to $1.05 In 2003

NEW YORK, March 15, 2004 –4Kids Entertainment, Inc. (NYSE: KDE), today announced results for the fourth quarter and year ended December 31, 2003.

        For fiscal year 2003, 4Kids Entertainment net revenues increased 92% to $102.1 million from $53.1 million in 2002. Net income for the year was $14.8 million, or $1.05 per diluted share, versus $7.0 million, or $0.51 per diluted share, reported in the prior fiscal year.

        The diluted weighted average common shares outstanding for the year ended December 31, 2003 were 14,156,291 shares compared with 13,726,642 shares for the prior year.

        Net revenues in the fourth quarter ended December 31, 2003, were $32.4 million compared to $25.9 million in the year-earlier period. Fourth quarter net income was $5.3 million, or $0.36 per diluted share, compared to $2.2 million, or $0.16 per diluted share, in the same period from the previous year.

        Commenting on the results, Al Kahn, Chairman and Chief Executive Officer, said, “our annual revenues grew to over $100 million for the first time in the company’s history enabling us to more than double net income and earnings per share for the year”.

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        The Company noted that revenues were driven by strong consumer demand for Yu-Gi-Oh!™ and Teenage Mutant Ninja Turtles™ licensed merchandise which grew steadily throughout the year and into the holiday season. Additionally, business initiatives recently launched in 2002, such as the Fox Box which generated ad sales, and 4Kids Home Video, were contributors to higher revenues.

        “FoxBox™, 4Kids’ four hours of programming on Saturday mornings on the Fox Network, continues to be an important component of our content distribution strategy,” Kahn added. “The new 2003-2004 FoxBox™ line-up, launched in September, has given our properties greater overall exposure to our primary target audience of boys age 6-11. We anticipate that ad sales and FoxBox™ related merchandise licensing revenues will increase from 2003 levels.”

        Looking ahead, we are excited about our prospects for the upcoming year. The first Yu-Gi-Oh! ™ feature film is set to premiere in August and we are seeing sustained retail demand for Yu-Gi-Oh! ™ and Teenage Mutant Ninja Turtles™ licensed merchandise thus far in 2004. We are planning the introduction of new licensed merchandise for these properties as well as the launch of a new licensing program for Shaman King™. In addition, we are planning the mid-year launch of Winx Club™, our first property targeting the girls market, on the FoxBox™.

        Over the last several years, we have diversified our revenue streams through the acquisition of new children’s properties and by entering complimentary business lines. Going forward, we will remain focused on identifying new and innovative kids content and bringing it broad exposure. Given our strong balance sheet and track record, we believe we are well positioned to grow our portfolio of kids properties,” concluded Kahn.

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About 4Kids Entertainment: Headquartered in New York City with international offices in London, 4Kids Entertainment, Inc. (NYSE: KDE) is a global provider of children’s entertainment and merchandise licensing. 4Kids, through its wholly owned subsidiaries, provides domestic and international merchandise licensing; product development; television, film, music and home video production and distribution; media buying and planning; and Web site development. For further information, please visit the company’s Web site at www.4KidsEntertainment.com.

The information contained in this press release, other than historical information, consists of forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. These statements may involve risks and uncertainties that could cause actual results to differ materially from those described in such statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Important factors beyond the Company’s control, including general economic conditions, consumer spending levels, competition from toy companies, motion picture studios and other licensing companies, the uncertainty of public response to the Company’s properties and other factors could cause actual results to differ materially from the Company’s expectations.

This release and prior releases are available on the Company’s Worldwide Web site at www.4KidsEntertainment.com

You may register to receive 4Kids Entertainment’s future press releases or to download a complete Digital Investor Kit™ including press releases, regulatory filings and corporate materials by clicking on the “Digital Investor Kit™" icon at www.kcsa.com.

Tables Follow:

4KIDS ENTERTAINMENT, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
DECEMBER 31, 2003 AND 2002
(In thousands of dollars, except share data)

ASSETS	2003		2002
CURRENT ASSETS:
Cash and cash equivalents	$	95,136	$	78,712
Investments		24,443		10,787
Total Cash and Investments		119,579		89,499
Accounts receivable - net		37,143		38,847
Prepaid Fox broadcast fee, net of accumulated amortization
of $10,817 and $9,444 in 2003 and 2002, respectively		8,688		9,857
Prepaid income taxes		2,670		1,635
Prepaid expenses and other current assets		1,690		3,871
Total current assets		169,770		143,709
PROPERTY AND EQUIPMENT - NET		3,350		3,853
ACCOUNTS RECEIVABLE - Noncurrent, net		2,662		5,733
INVESTMENT IN EQUITY SECURITIES		726		726
FILM AND TELEVISION COSTS - NET		8,183		5,653
DEFERRED INCOME TAXES - Noncurrent		2,575		917
OTHER ASSETS - NET		6,014		2,248
TOTAL ASSETS	$	193,280	$	162,839
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:
Due to licensors	$	11,835	$	9,063
Media payable		2,178		5,613
Accounts payable and accrued expenses		9,706		9,776
Deferred revenue		8,070		3,976
Deferred income taxes		52		983
Total current liabilities		31,841		29,411
DEFERRED RENT		952		757
Total liabilities		32,793		30,168
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY
Preferred stock, $.01 par value - authorized, 3,000,000 shares;
none issued		--		--
Common stock, $.01 par value - authorized, 40,000,000 shares;
issued, 13,965,343 and 13,135,008 shares in 2003 and 2002, respectively		140		131
Additional paid-in capital		52,798		40,411
Accumulated other comprehensive income		693		72
Retained earnings		106,856		92,057
Total stockholders' equity		160,487		132,671
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	193,280	$	162,839

4KIDS ENTERTAINMENT, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
(In thousands of dollars, except share data)

	Quarter Ended				Year Ended
	December 31, 2003		December 31, 2002		December 31, 2003		December 31, 2002
	(UNAUDITED)		(UNAUDITED)
NET REVENUES	$	32,398	$	25,902	$	102,079	$	53,140
COSTS AND EXPENSES:
Selling, general and administrative		9,747		9,046		33,743		25,374
Production service costs		1,263		2,571		7,819		3,375
Amortization of television and film costs
and Fox broadcast fee		12,742		11,054		36,946		14,355
Total costs and expenses		23,752		22,671		78,508		43,104
INCOME FROM OPERATIONS		8,646		3,231		23,571		10,036
INTEREST INCOME		277		476		1,112		1,656
INCOME BEFORE INCOME TAX
PROVISION		8,923		3,707		24,683		11,692
INCOME TAX PROVISION		3,606		1,461		9,884		4,702
NET INCOME	$	5,317	$	2,246	$	14,799	$	6,990
PER SHARE AMOUNTS:
Basic earnings per common share	$	0.39	$	0.17	$	1.11	$	0.55
Diluted earnings per common share	$	0.36	$	0.16	$	1.05	$	0.51
Weighted average common shares
outstanding - basic		13,649,050		12,847,922		13,292,852		12,653,102
Weighted average common shares
outstanding - diluted		14,568,176		13,936,207		14,156,291		13,726,642