FOR IMMEDIATE RELEASE
                                                   Contact: John Monaghan
                                                   Telephone: 203-846-2274 x 110
                                                   Facsimile: 203-846-1776
                                                   john.monaghan@soundprints.com


RESERVE BANK OF SOUTH AFRICA REJECTS FIRST APPLICATION FOR JOINT VENTURE BETWEEN
CHART STUDIO (PTY) AND TRUDY CORPORATION: APPLICATION TO BE RESUBMITTED.

         Norwalk, Connecticut, April 8, 2002 -- The Chart Studio (Pty) Ltd.,
Gauteng, South Africa, has advised Trudy Corporation that the Reserve Bank of
South Africa has disapproved its application to form a joint venture with Trudy
in the name of Studio Mouse LLC, a Connecticut Limited Liability company. The
application provided for ownership of Studio Mouse to be held 45% by Chart
Studio, 45% by Trudy and the remaining 10% by employees of Chart Studio and
Trudy. Warrick Schroder, Publisher of Chart Studio, commented, "It appeared
that, in the view of the Reserve Bank, the joint venture relationship did not
benefit South African interests to the extent the Reserve Bank would like." This
situation will be addressed in a revised application.

         Chart Studio intends to resubmit this application within the next few
weeks using counsel for RMB Corvest, the investment banking unit of RMB Bank,
Johannesburg, which is a minority stockholder in Chart Studio.

         Studio Mouse LLC was established to capitalize on Trudy's license with
the Smithsonian Institution and associated wildlife art jointly owned by the
Smithsonian and Trudy's publishing division, Soundprints, and the massive
library of educational content owned by Chart Studio for repurposing into
multiple trade, mass market and educational book formats. The combination of
Chart Studio's access to a wealth of low cost design talent in South Africa with
Studio Mouse's `hold no inventory" business model for drop shipping to customers
worldwide would be a unique combination among publishers.

         Trudy Corporation was founded in 1947 as a privately owned designer of
stuffed toys and became a public company in 1987. Trudy currently owns the
exclusive license with the Smithsonian Institution for children's storybooks,
read-a-long audio books and companion realistic toy products. It has active
distribution into the toy and book trade, the warehouse clubs, mass market
retailers as well as schools and libraries. Also, in its distribution portfolio
is a mail order catalog and an e-commerce business to the education community
and consumers.

         Except for the historical information contained herein, the matters set
forth in this press release are forward-looking statements within the meaning of
"safe harbor" provisions of the Private Securities Litigation Reform Act of
1995. These forward-looking statements are subject to risks and uncertainties
that may cause actual results to differ materially. These forward-looking
statements speak only to the date hereof; Trudy Corporation disclaims any intent
or obligation to update these forward-looking statements.


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