New York, New York - March 29, 2004 -- Marvel Enterprises, Inc. (NYSE: MVL), a global provider of entertainment content, announced that effective with the commencement of trading today, the share price for its outstanding common stock will adjust to reflect shares issued Friday, March 26, 2004 pursuant to its 3-for-2 stock split. As a result of this stock split, which was announced on March 2, 2004, Marvel's common shares outstanding have increased to approximately 109 million. Marvel's stock split was in the form of a dividend of one additional share of the Company's common stock for every two shares held at the close of business on March 12, 2004. Fractional shares will be paid in cash.
Marvel's President and CEO, Allen Lipson, commented, "Marvel's decision to split the stock reflects our confidence in our long term growth opportunities and the cash generating power of our licensing-based business model. The split is also intended to support long term liquidity, which we believe will make Marvel's common stock attractive to a broad range of investors."