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[Gwarsbane]

HASBRO TO BRING G.I. JOE TO THE BIG SCREEN
IN FULL-LENGTH, LIVE-ACTION MOVIE

- Film Producer Lorenzo di Bonaventura to Develop And Produce -

PAWTUCKET, R.I., September 16, 2003 – Hasbro, Inc. (NYSE:HAS) announced
today an agreement with prominent film producer Lorenzo di Bonaventura
to develop and produce a full-length, live-action feature film based on
Hasbro’s legendary G.I. JOE brand.

“A G.I. JOE live-action movie is a natural,” said di Bonaventura, a
film producer and former Executive Vice President and Head of Worldwide
Production and Domestic Marketing for Warner Brothers. “Three
generations of children grew up with the G.I. JOE brand and after
nearly 40 years, it’s an honor to be able to bring the saga and its
characters to life on movie screens.”

“A live-action film will deliver high energy and non-stop excitement to
the millions of fathers and sons that share awesome memories of G.I.
JOE,” said Brian Goldner, President of Hasbro’s U.S. Toys Segment.
“Lorenzo has an amazing track-record for picking winners in the
entertainment industry and we are thrilled at his enthusiasm and
approach towards the G.I. JOE brand.”

When Hasbro launched the G.I. JOE brand in 1964, it gave the world its
very first “action figure” and defined childhood for millions of fans
around the world. Since then, G.I. JOE has come to symbolize
patriotism, honor and courage, and is one of the best-selling male
action brands of all time. With double-digit increases in toy sales
over the past four years, it is clear that a new generation of boys
have discovered the excitement of the G.I. JOE brand.

“The depth of the G.I. JOE brand provides incredible opportunities to
integrate the property into many lifestyle areas,” said Jane
Ritson-Parsons, President of the Hasbro Properties Group. “From a
highly successful publishing program to a wide variety of relevant
consumer product categories, we are able to involve fans of all ages
into the adventurous world of G.I. JOE.”

While at Warner Brothers, di Bonaventura oversaw production of the
Harry Potter series of films, the Matrix series, and Scooby-Doo, among
many others. He is currently producing the Warner Brothers feature
film Constantine, starring Keanu Reeves, and based on the comic book
Hellblazer.

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Creative Artists Agency (CAA) made the deal on behalf of Hasbro and di
Bonaventura.

The Hasbro Properties Group develops and expands Hasbro, Inc.’s
(NYSE:HAS) core
brands, such as G.I. JOE, TRANSFORMERS, MY LITTLE PONY, MONOPOLY and
CANDY LAND, into a wide variety of entertainment and consumer
categories.

Hasbro (NYSE:HAS) is a worldwide leader in children's and family
leisure time entertainment products and services, including the design,
manufacture and marketing of games and toys ranging from traditional to
high-tech. Both internationally and in the U.S., its PLAYSKOOL, TONKA,
MILTON BRADLEY, PARKER BROTHERS, TIGER, and WIZARDS OF THE COAST brands
and products provide the highest quality and most recognizable play
experiences in the world.