FOR IMMEDIATE RELEASE
THE TOPPS COMPANY, INC. ISSUES STATEMENT
NEW YORK, April 28, 2006 - The Topps Company, Inc. (Nasdaq: TOPP) today
commented on Pembridge Value Opportunity Fund LP's notification that it intends
to nominate its own slate of three director nominees to the Company's Board of
Directors at Topps' upcoming Annual Meeting of Shareholders and seek amendment
of the Company's charter and bylaws.
The Company stated, "Topps Board is comprised of seasoned industry leaders who
have engaged in building shareholder value and positioning Topps for profitable
growth. The Board has confidence in the Company's growth strategy and in Topps'
prospects for the future, as well as management's ability to execute on that
strategy."
The Company noted that its Board is reviewing Pembridge's notification and will
respond to it after appropriate consideration.
About Topps
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Founded in 1938, Topps is a leading creator and marketer of distinctive
confectionery and entertainment products. The Company's confectionery brands
include "Ring Pop," "Push Pop," "Baby Bottle Pop" and "Juicy Drop Pop" lollipops
as well as "Bazooka" bubble gum. Topps entertainment products include trading
cards, sticker album collections, and collectible games. For additional
information, visit http://www.topps.com.
This release contains forward-looking statements pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995. Although the
Company believes the expectations contained in such forward-looking statements
are reasonable, it can give no assurance that such expectations will prove to be
correct. This information may involve risks and uncertainties that could cause
actual results to differ materially from the forward-looking statements. Factors
that could cause or contribute to such differences include, but are not limited
to, factors detailed in the Company's Securities and Exchange Commission
filings.
Important Additional Information Will Be Filed with the SEC
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Topps will be filing a proxy statement with a White proxy card for the election
of directors nominated by the Board of Directors with the Securities and
Exchange Commission (SEC). TOPPS STOCKHOLDERS ARE URGED TO READ THE PROXY
STATEMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION WHEN IT BECOMES
AVAILABLE BECAUSE IT WILL CONTAIN IMPORTANT INFORMATION. Investors will be able
to obtain free copies of the Proxy Statement filed with the SEC by Topps through
the website maintained by the SEC at www.sec.gov. In addition, investors will be
able to obtain free copies of the Proxy Statement from Topps by contacting
Corporate Secretary, c/o The Topps Company, Inc., One Whitehall Street, New
York, NY 10004. In addition, copies of the proxy materials may be requested by
contacting our proxy solicitor, MacKenzie Partners, Inc. at (800) 322-2885
toll-free or by email at proxy@mackenziepartners.com.
Topps, its directors and named executive officers may be deemed to be
participants in the solicitation of the Topps Company Inc.'s security holders in
connection with its 2006 Annual Meeting of Stockholders. Security holders may
obtain information regarding the names, affiliations and interests of such
individuals in the Company's Proxy Statement dated June 13, 2005, which is filed
with the SEC. Additional information regarding such individuals will be included
in the 2006 Proxy Statement. To the extent holdings of the Company's securities
have changed since the amounts printed in the Proxy Statement dated June 13,
2005, such changes have been reflected on Forms 3, 4 and 5 filed with the SEC
and will be reflected in the 2006 Proxy Statement.
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