NBA have appointed Panini as their EXCLUSIVE licensee for the collectable category

See the attached News Announcement for further details.

These are now difficult times but Panini has been used to investing in its core business activities and this will continue. Recent history has witnessed Panini growing its sales activity by investment in Marketing and Territory development. Some very remarkable successes over recent years have been witnessed on both Entertainment collectables as well as within the Sports area.

From a geographical point of view Panini are active in over 100 markets around the world but business achievement in the USA has been modest by comparison to the market potential. Hitherto Panini has not been deeply involved in the US Trading Card segment but this is now planned to change in a substantial way.

The NBA have had two substantial Trading Card producers involved as their licensees over recent years but from the new 2009/10 season Panini will take worldwide responsibility for Trading Cards and Sticker Album collectables on an Exclusive basis.

In the USA Panini will create a program of activity which will focus attention on the NBA brand through an unprecedented Marketing Campaign which will re-create the domestic trading card market. To enable this strategy Panini is proud to announce that a new subsidiary business will be set up immediately entitled "Panini America, Inc".

See the below News Announcement for further details.

NBA NAMES PANINI EXCLUSIVE TRADING CARD PARTNER

NEW YORK, Jan. 27, 2009 – The National Basketball Association (NBA) today announced a new exclusive, multiyear licensing agreement with The Panini Group – the leading global publisher of collectibles. The new partnership will focus on redefining the domestic NBA trading card category by enhancing the relationship with existing NBA card enthusiasts, cultivating a new generation of collectors, supporting hobby shops and retailers, and by creating new product growth opportunities worldwide.

As the NBA's exclusive trading card and sticker partner, Panini will produce NBA trading cards, stickers and sticker albums beginning with the 2009-10 NBA season. Together with the NBA, Panini will provide significant retail marketing and promotional support including TV, print and on-line initiatives and in-store events for both hobby shops and retailers.

"Over the years, NBA trading cards have served as an important source to connect fans of all ages with our game," said Sal LaRocca, Executive Vice President, NBA Global Merchandising Group. "As we look to the future of our trading card business, there is general consensus, including with our current partners, Topps and Upper Deck, that moving forward with an exclusive partner is the best way for us to energize the category on a worldwide basis. We are fortunate to have had three outstanding companies interested in our trading card business and believe Panini's position as the leading global company in this industry aligns best with our global growth strategy."

LaRocca continued, "Our exclusive partnership with Panini provides us with the best opportunity to recreate the trading card market by developing the key retail channels with a variety of products and promotions geared towards all consumer segments."

Panini will leverage the strength of the NBA as a global sports league to develop the international trading card business and establish and build a sports collectibles business in the U.S. Currently, Panini has a successful North American collectibles business with consumer brands such as Disney's Hannah Montana and High School Musical, and Warner Bros.' Harry Potter, as well as with the UEFA Euro 2008 and FIFA World Cup sporting events. Internationally, Panini's leadership in the sticker category will provide additional growth opportunities for the NBA.

"As the leading global sports league, the NBA provides Panini with an international platform to expand the global trading card and collectibles markets by building our business in the U.S. and attracting new collectors around the world," said Peter Warsop, Panini Group Licensing Director.

About the NBA
The NBA reaches fans and consumers worldwide through the licensing and marketing of consumer products bearing the league's trademarks and player attributes. More than 200 licensees manufacture, sell and market NBA-branded products that are promoted worldwide and sold in more than 100,000 retail locations, in 100 countries on six continents. Major categories include video games, apparel, footwear, sporting goods and trading cards. Thirty percent of merchandise sales are generated from outside the United States.

About Panini S.p.A.
The Panini Group, established almost 50 years ago in Modena, Italy with subsidiaries throughout Europe and Latin America, is the world leader in the published collectable sector and the leading multi-national publisher of comics, children's magazines and manga in Europe and Latin America. In 2008, the Panini Group is expected to have sales of c 1 Billion US$. The company has distribution channels in more than 100 countries and employs a staff of over 700.
nba.paniniamerica.net

Media Contact:
Kristin Conte, NBA, 212.407.8534 or kconte@nba.com
Betsy Lichtschein, 410.571.1498 or nbainfo@paniniamerica.net