Zindart Retains Investment Banking Firm to Seek Buyer for Pearl River Delta Manufacturing Unit
Latitude Capital Group Retained as the Financial Advisor to Zindart
2005-04-12

HONG KONG - (BUSINESS WIRE) - April 12, 2005 - Zindart Limited (Nasdaq: ZNDT - News) today announced that it has retained Latitude Capital Group to seek a buyer for the company's manufacturing operating division, including a high volume, product design and turnkey production facility located in South China's Pearl River Delta region.

Peter Gardiner, Chairman and CEO, said Zindart Limited plans to focus on expanding revenues for the company's consumer branded product division.

"For some time now, management has made clear its intent to convert Zindart Limited from a regional manufacturer to a global branded marketing company," Gardiner said. "The Board believes that the most shareholder value will arise from adding marketing and distribution strength to the company's consumer brands."

Zindart owns Corgi Classics, which develops and markets high-quality lines of miniature die-cast collectible products, including replicas of classic cars, trucks, airplanes, and military vehicles. Corgi products are sold in both specialty stores and mass market store chains in the United Kingdom, Europe, Canada, Mexico, the United States and elsewhere.

The Corgi brand, which celebrated its 50th year in 2005, also recently introduced a line of children's items targeting the toy and collectibles market. Several new products are currently under development.

"Heading into the future, we believe focusing on our Corgi brand can produce the highest value for our shareholders," Gardiner said. "Progress during the past year has included expanding the geographic distribution of the Corgi brand and increasing the number of retail stores carrying our product lines. On top of that, we have launched several new product lines. We are optimistic that our investment in these areas will soon begin to pay off."

Latitude Capital Group, headquartered in Hong Kong, is an Asia-based investment banking firm focused on serving middle-market and emerging growth companies with M&A, corporate finance, restructuring and private placement services.

About Zindart
Zindart's current operating divisions include Corgi Classics Limited and Zindart Manufacturing. Corgi Classics Limited develops and markets high-quality lines of die-cast collectible products sold through retail channels in Europe, Canada, Mexico, the United States and elsewhere. Zindart Manufacturing provides both product design and high quality turnkey manufacturing for multi-national companies requiring rapid, high-volume production of intricate die-cast and plastic promotional items, collectibles and gift items.

Founded in 1978, Zindart is based in Hong Kong with offices in the United States and the United Kingdom. Zindart has a website at www.zindart.com. Collectors can find more information at www.corgiclassics.com or by calling 1-800-800 CORGI.

Certain statements in this release are forward-looking. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those anticipated. Such risks and uncertainties include, in addition to those discussed above and without limitation, changes in market demand for Zindart's products, changes in economic conditions, dependence on certain customers and other risks described in the company's annual report on Form 20-F for the fiscal year ended March 31, 2004. The company undertakes no obligation to revise these forward-looking statements to reflect subsequent events or circumstances.

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