FOR IMMEDIATE RELEASE Contact: Glenn Bozarth February 1, 1994 Mattel, Inc. (310) 524-3521 MATTEL PREPAYS $100 MILLION IN LONG-TERM DEBT --------------------------------------------- LOS ANGELES, Feb. 1 -- Mattel, Inc. today said that the company will achieve significant savings in interest expense, effective immediately, through the prepayment of $100 million in high-cost debt assumed by Mattel in its merger with Fisher-Price. The debt, which carried an interest rate of 10.69 percent, was prepaid from a year-end cash position of approximately $500 million. The prepayment will result in an extraordinary after-tax charge of $14.7 million against 1993 fourth quarter earnings, representing a prepayment penalty and unamortized costs associated with the debt. -###-