Navarre's FUNimation Entertainment and Verizon Sign Distribution Agreement

Navarre's FUNimation Entertainment and Verizon Sign Distribution Agreement

The FUNimation Channel to Be Part of Verizon's FiOS TV Lineup

FORT WORTH, Texas, June 8 /PRNewswire-FirstCall/ -- FUNimation(R) Entertainment, a wholly-owned subsidiary of Navarre Corporation (NASDAQ:NAVR), and one of the nation's leading brand management and independent home video entertainment companies, announced today that the company has signed an agreement with Verizon for distribution of the FUNimation Channel(SM) as part of the Verizon FiOS TV service.

"We are proud to be one of the channel offered through Verizon's FiOS TV service," explained Gen Fukunaga, president and CEO of FUNimation Entertainment. "This is another step in FUNimation's broadcast strategy to bring the best anime to North America. We hope to grow with Verizon's FiOS TV initiative and expand awareness of high quality anime series throughout the United States."

The FUNimation Channel is a 24-hour digital network featuring programming from top anime brands in the United States. It will be added to the FiOS TV Premier package in summer 2006.

Verizon FiOS TV offers a broad collection of all-digital programming including more than 20 high-definition channels. It is now available in parts of north Texas, Florida, California, Virginia, Massachusetts, Maryland and New York, -- and will expand to other markets in 2006.

FUNimation is working with OlympuSAT, a leading distributor of independent digital programming networks, for the distribution of the FUNimation Channel. OlympuSAT is the exclusive distributor of the FUNimation Channel, which is now available to video service providers across the nation.

About Navarre Corporation

Navarre Corporation (NASDAQ:NAVR) is a publisher and distributor of a broad range of home entertainment and multimedia products, including PC software, CD audio, DVD and VHS video, video games and accessories. Since its founding in 1983, the company has established distribution relationships with customers across a wide spectrum of retail channels which includes mass merchants, discount, wholesale club, office and music superstores, military and e-tailers nationwide. The company currently provides its products to over 18,000 retail and distribution center locations throughout the United States and Canada. Navarre has expanded its business to include the licensing and publishing of home entertainment and multimedia content, primarily through the acquisitions of Encore Software, Inc., BCI Eclipse Company, LLC, FUNimation Productions, Ltd. and The FUNimation Store, Ltd. For more information, please visit the company's web site at http://www.navarre.com/ .

About FUNimation Entertainment

FUNimation(R) Entertainment, a wholly-owned subsidiary of Navarre Corporation (NASDAQ:NAVR), is a brand management company and one of the nation's leading independent home video entertainment companies. The company's most recent initiative is the FUNimation Channel(SM), a new, 24-hour digital network featuring programming from the top anime brands in the United States. FUNimation has a proven formula for launching and advancing brands, and manages a full spectrum of rights for most of its brands including broadcasting, licensing, production, internet, and home video sales and distribution. For images, or more information on FUNimation Entertainment, the FUNimation Channel, or any of FUNimation's properties, contact Jeff Dronen at 817-788-0627, ext. 251 or jeff.dronen@funimation.com .

About OlympuSAT

OlympuSAT, Inc. distributes independently owned and operated digital networks on individual transponder platforms and currently represents more than twenty diverse channels through their Hispanic and Faith & Families Packs. A turnkey service provider, OlympuSAT facilitates technical related services for the transponder and uplink along with affiliate sales services. Additional services provided to networks include, as needed, master control, advertising sales and traffic and billing services. The OlympuSAT suites are distributed via Intelsat Americas 13. An affiliate of Ocean Communications, OlympuSAT is based in West Palm Beach Florida, serving homes nationwide. http://www.olympusat.com/

Source: Navarre Corporation

CONTACT: Jeff Dronen of FUNimation Entertainment,
+1-817-788-0627, ext. 251, jeff.dronen@funimation.com

Web site: http://www.navarre.com/
http://www.olympusat.com/

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