Press Release

REVELL GERMANY ACQUIRED BY HOBBICO INC

Bünde, Germany, February, 2012 - Hobbico, Inc. of Champaign, Illinois USA announced today that it has acquired Revell Deutschland Holding GmbH.

Revell Germany was established in 1956 and is the European market leader in the plastic model building segment. For the last four years, Revell has also been a key player in radio control vehicles in the European toy market. With several new product lines just announced at this year’s Nuremberg Toy Fair, Revell has embarked on rapid expansion of their radio control products including a new series called tecZone which is targeted at the European hobby market.

Hobbico is the world’s leading manufacturer and marketer of model hobby products, including radio controlled models, plastic model kits, flying model rockets and other hobby and toy products. The 100% employee-owned company sells products through several subsidiaries including Revell, Estes, Great Planes Model Distributors and Tower Hobbies. Since 2007, Hobbico has owned the U.S. Revell operation. Just prior in 2006, Revell Germany was spun off as a separate company.

“Hobbico’s acquisition of Revell Germany creates an enormous opportunity for our company and our employees“, said Hans Remfert, President of Revell Germany and now former partner. “With the support of Hobbico as a strong parent company, we have a great opportunity to extend our new engagement in the RC hobby segment on the European markets. Hobbico has experience and know-how in this area as well as a strong assortment of product with worldwide recognition which we will integrate into ours according to the European market conditions. As the European branch for Hobbico, the jobs and the headquarters in Bünde are absolutely safe.”

“We are pleased to reunite the Revell brand under one ownership,” said Wayne Hemming, President of Hobbico. “Now Revell can proceed with a worldwide strategy for growth of the core plastic model business. We also view this as an excellent foundation to expand the distribution of our other brands and products into the European market.”

After starting the original U.S. company in 1945, Revell founder Lou Glaser established the German operation in 1956. Since then, Revell Germany has been known as the European leader in plastic model kits as well as paints, tools and accessories. In 2008, the Revell Control line of radio controlled vehicles was introduced and successfully gained a strong position in the European toy market. In 2011, Revell introduced the award-winning Orbis children’s air brush system.

Hobbico was started in 1986 through the combination of Tower Hobbies and Great Planes Model Distributors, founded in 1971 and 1973, respectively. In 2001, Hobbico acquired United Model, a leading hobby products distributor founded in 1959. Hobbico acquired the Revell-Monogram plastic model kit lines in 2007 and Estes-Cox in 2010. In January of this year, Hobbico announced the acquisition of three hobby R/C car brands: Axial, ARRMA and Team Durango.

“This acquisition bodes well for the UK market, as the UK operation is a Branch of Revell Germany” added Thomas Randrup, Country Manager of Revell UK & Ireland.