Navarre Corporation Announces Exclusive Agreement Between FUNimation Entertainment and Geneon Entertainment

Navarre Corporation Announces Exclusive Agreement Between FUNimation Entertainment and Geneon Entertainment

First Titles Scheduled for Release by FUNimation in Late Summer 2008

MINNEAPOLIS, July 3 /PRNewswire-FirstCall/ -- Navarre Corporation (NASDAQ:NAVR) announced today that its wholly-owned subsidiary, FUNimation Entertainment, has entered into an exclusive agreement to distribute select DVD titles in North America on behalf of Geneon Entertainment, a leading producer of Japanese animation.

Under the terms of the agreement, FUNimation Entertainment obtains the exclusive rights in North America to the manufacturing, marketing, sales and distribution of established Geneon titles, including Ergo Proxy, Hellsing Ultimate and Black Lagoon.

"Geneon is a strong producer, known for excellent production and quality of its anime series," said Gen Fukunaga, president and CEO of FUNimation Entertainment. "We are pleased to partner with them and we are committed to the successful release of these series."

"FUNimation's momentum as the leading anime distributor continues to build," said Yushin Soga, president and CEO of Geneon. "We are sure this partnership will only grow the prominence of our portfolio."

About FUNimation Entertainment

FUNimation(R) Entertainment is a wholly-owned subsidiary of Navarre Corporation and the leading company providing Japanese animation in the United States. FUNimation is known for acquiring top-rated anime series from Japan and for being the market share leader for home video sales of anime in the United States. The company has a proven formula for launching and advancing brands, and manages a full spectrum of rights for many of its brands including broadcasting, licensing, production, internet, and home video sales and distribution.

About Navarre Corporation

Navarre(R) Corporation (NASDAQ:NAVR) is a publisher and distributor of physical and digital home entertainment and multimedia products, including PC software, DVD video, video games and accessories. Navarre develops, licenses and publishes home entertainment and multimedia content through its Encore, BCI, and FUNimation subsidiaries and has established distribution relationships with customers across a wide spectrum of retail channels. Navarre was founded in 1983 and is headquartered in New Hope, Minnesota. Additional information regarding Navarre can be found at http://www.navarre.com/.

About Geneon Entertainment

A leading supplier of Japanese animation in North America, and the recipient of the 2006 "Best Anime Company" by the Society for the Promotion of Japanese Animation, GENEON ENTERTAINMENT (USA) INC., is a subsidiary of Tokyo-based advertising giant Dentsu, Inc. Geneon Entertainment primarily develops animation properties for release in North America on DVD and new media.

About Dentsu Inc.

Dentsu Inc., founded in 1901, is the largest advertising agency brand and the fifth largest marketing and communications organization in the world. Based in Tokyo, the group has more than 6,000 clients and more than 15,000 full-time employees in both Japan and in its offices overseas. Consolidated sales for fiscal term 03/07 were recorded at $17,738 million. Dentsu is publicly quoted on the Tokyo Stock Exchange (Code 4324).

First Call Analyst:
FCMN Contact: cschudi@navarre.com

Source: Navarre Corporation

CONTACT: Navarre Investor Relations, +1-763-535-8333, ir@navarre.com

Web site:

http://www.navarre.com/

-------
Profile: intent