WowWee Presidents Make Purchase Offer

Richard Yanofsky, president of WowWee Canada, and Peter Yanofsky, president of WowWee USA, have set up a company to buy out the current shareholders of the Optimal Group, of which WowWee is a wholly-owned subsidiary, and have the support of Optimal’s board of directors.

The offer of $2.40 per share represents a premium of approximately 50 percent over the closing price of the Class “A” shares of $1.60 on the NASDAQ on March 16, 2010. The purchase would make Optimal a privately held company.