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Trudy's Bid to Acquire Certain Assets of Chart Studio Publishing (PTY) Ltd Out of Liquidiation Is Trumped by South African Company
| Source: Trudy Corporation
NORWALK, CT -- (MARKET WIRE) -- December 18, 2006 -- Trudy Corporation (OTCBB : TRDY ) was advised
today that the assets in liquidation of Chart Studio Publishing (PTY) Ltd,
Johannesburg, South Africa, were sold at auction by Court-appointed
Liquidators to a successful bidder from Capetown, South Africa. The
Company, whose bid was exceeded by a narrow margin, had been in negotiation
with Chart Studio's management since September.
Trudy Corporation was founded in 1947 as a privately owned designer of
plush toys and became a public company in 1987. Trudy currently holds
licenses from the Smithsonian Institution, the African Wildlife Foundation
and the American Veterinary Medical Association, among others, for
children's books, audio books and plush toys. 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 e-commerce business to the education community and
at-home 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.