Fisher-Price Takes Top Honors At Annual T.O.T.Y. Awards

Pre-eminent Preschool Toy Maker Wins Coveted "Toy of The Year" and "Infant/Preschool Toy of The Year" Awards

President Neil Friedman Inducted into TIA Hall of Fame

NEW YORK, February 16, 2004 -- Fisher-Price, Inc., a subsidiary of Mattel Inc. (NYSE: MAT), took top honors Saturday night at the industry's annual T.O.T.Y. awards that was attended by almost 800 industry leaders and innovators. The pre-eminent infant and preschool toy manufacturer is the worldwide leader in the category with over $1.7 billion in gross revenues.

Fisher-Price's Hokey Pokey Elmo was awarded the coveted "Toy of the Year" award, representing the best toy of the year as voted by retailers, media and sales data, at the event that pays tribute to the year's greatest and most creative achievements in toys organized by the Toy Industry Association, Inc. (TIA). The furry red dancing Elmo, which surpassed the popularity of the original Tickle Me Elmo, was also recognized as the "Infant/Preschool Toy of the Year" on an evening that was highlighted by the induction of Fisher-Price president Neil Friedman into the organization's Toy Industry Hall of Fame.

"We're thrilled to receive this recognition from the industry, our peers and the media," said Neil Friedman, president of Fisher-Price. "It's a testimony to the creative talent of the Fisher-Price team for translating the magical appeal of children's favorite characters into innovative, fun toys. Elmo's appeal is timeless; he's the 3 ½ year old in all of us," said Mr. Friedman.

The T.O.T.Y. Awards are designed to salute the creativity, success and playful spirit of the toy industry by honoring the best toys developed by the international toy industry for North American consumers.

Fisher-Price, Inc., a wholly owned subsidiary of Mattel, Inc. (NYSE: MAT) and located in East Aurora, New York, is the leading brand of infant and preschool toys in the world. Celebrating nearly 75 years of excellence in children's products, some of the Company's best known "classic" brands include Little People®, Power Wheels®, Rescue Heroes™ and View-Master®. The Fisher-Price brand includes some of the most popular and widely recognized character brands - from Barney™ and Blue's Clues™ to Disney, Dora the Explorer™, Sesame Street® and Winnie the Pooh. The Company also develops and markets juvenile products called babygear that are designed to help families get the best possible start in life. The Company's web site can be found at www.fisher-price.com, providing valuable articles and resources to new and expectant parents.