FOR IMMEDIATE RELEASE
CONTACTS:     Ria Marie Carlson                  Lisa Mueller
              Equity Marketing, Inc.             The Financial Relations Board
              (323) 932-4096                     (310) 442-0599




                     EQUITY MARKETING ANNOUNCES $25 MILLION
                  PRIVATE EQUITY INVESTMENT FROM CROWN CAPITAL

              PROCEEDS WILL ACCELERATE EQUITY'S GROWTH INITIATIVES

            COMPANY EXPECTS MORE DIVERSIFIED REVENUE MIX BY YEAR-END


         LOS ANGELES, March 29, 2000 - Equity Marketing, Inc. (Nasdaq: EMAK) and
Crown Capital Group have signed a definitive agreement, under which Crown will
invest $25.0 million in the company in exchange for convertible preferred stock
and warrants to purchase an additional $15.0 million of convertible preferred
stock.

         Proceeds from the transaction are expected to fund Equity's new growth
initiatives, including an acquisition strategy designed to add new clients and
expand the company's range of services, such as the company's recently formed,
Internet-focused interactive division.

         "Our outstanding financial and operational performance in 1999, coupled
with strong sales activity for 2000 and today's alliance with a leading
investment firm, establishes a strong platform for accelerated growth," said Don
Kurz, Chairman and Chief Executive Officer of Equity Marketing, Inc. "The
infusion of capital, experience and advice from our new partners at Crown will
help us make strategic acquisitions in the marketing services and Internet
marketing industries, targeting companies that will further build our client
roster and enable us to provide more comprehensive services for existing
clients. Our infrastructure - in the form of information systems, controls,
facilities and management depth - was strengthened last year to accommodate
business expansion. We intend to significantly diversify our revenue mix by the
end of this year."




          "We see tremendous promise in Equity Marketing and the marketing
services industry," said Peter Ackerman, Special Limited Partner of Crown
Capital Group. "Equity has consistently proven that they can deliver what
clients need - strong sales growth and enhanced brand value - in a way that is
creative, efficient and measurable. Moreover, the $85 billion, high-growth
marketing services industry is highly fragmented, making it ripe for
consolidation by strong players such as Equity."

         Jeff Deutschman, Crown Capital's Managing Director, added: "We are
enthusiastic about our investment in Equity Marketing. Based on a careful
analysis of the company and its environment, Equity meets our selection criteria
and represents an exceptional investment opportunity. We will work diligently
with Equity to use our capital to accelerate its many opportunities for growth."

         "We are proud to have Crown as a business partner," Mr. Kurz continued.
"This agreement represents a strong endorsement of Equity's core business model,
management strength and growth prospects."

         Under terms of the agreement, which has been approved by Equity's board
of directors, Crown will purchase $25.0 million of newly designated convertible
preferred shares which will pay an annual cumulative dividend of six percent and
shall be convertible into Equity common stock at $14.75 per share. Crown shall
also receive warrants to purchase an additional $15.0 million of convertible
preferred stock - $12.0 million of which will have a conversion price of $16.00
per share and the remainder of which will be convertible at $18.00 per share.

         The transaction will close in two stages. In the first stage, which
closed today, Crown has purchased $11.9 million of the $25.0 million of newly
designated convertible preferred shares and has received warrants to purchase an
additional $7.14 million of the $15.0 million of convertible preferred stock
that are subject to the warrants. In the second stage, Crown will purchase the
balance of the convertible preferred shares and will receive the balance of the
warrants upon satisfaction of certain customary conditions, including
termination or expiration of the waiting period under the Hart-Scott-Rodino
Antitrust Improvements Act and, if certain regulatory approvals are not
obtained, approval by the stockholders of the company. The definitive agreement
provides for certain payments to Crown, including a termination fee if the




second stage of the transaction fails to close for certain reasons (other than
due to the failure of the waiting period under the Hart-Scott-Rodino Antitrust
Improvements Act to expire).

         Equity's board of directors received the opinion of financial advisors
Houlihan, Lokey, Howard & Zukin, a national investment banking firm, that the
transaction is fair, from a financial point of view, to the company and its
stockholders.

         Upon the close of these transactions and assuming the conversion of
preferred stock and the exercise of all warrants (representing a total
investment of $40.0 million), Crown Capital will be Equity Marketing's largest
shareholder, with 2,611,582 shares of common stock, which is approximately a 24
percent ownership interest, after giving effect to the assumed future exercise
of all currently outstanding employees' and directors' stock options. Equity
will also add Mr. Ackerman and Mr. Deutschman to its board of directors,
increasing the number of board members from six to eight.

         "We welcome Peter and Jeff to our board," Mr. Kurz concluded. "Their
proven financial skills, mergers and acquisitions experience, business acumen
and network of contacts will provide valuable insight and strengthen our
organization. With their partnership, we are well positioned to capture a
leadership role in the marketing services industry. This transaction ushers in a
new era for Equity Marketing."

         Crown Capital Group, with offices in New York City and Mexico City, is
a private equity investment firm focused on building long-term value for
middle-market companies. Since 1997, Crown's equity investments include
companies involved in e-commerce, movie theater exhibition, consumer sampling,
life insurance and home textiles. The firm's partners have substantial
experience in the acquisition and financing of companies representing a broad
range of industries.

         Equity Marketing, Inc. is a leading marketing services company,
providing a wide range of custom promotional programs that build sales and brand
awareness for some of the most renowned companies in the world, including Burger
King Corporation, The Coca-Cola Company, BP Amoco, and CVS/pharmacy. The company
is also a developer and marketer of distinctive consumer products, based on
trademarks it owns or classic licensed properties, and is the master toy
licensee for Warner Brothers' Scooby-Doo-TM-. More information about Equity
Marketing is available on the company's web site at www.equity-marketing.com.

         CERTAIN EXPECTATIONS AND PROJECTIONS REGARDING THE FUTURE PERFORMANCE
OF EQUITY MARKETING, INC. DISCUSSED IN THIS NEWS RELEASE ARE FORWARD-LOOKING AND
ARE MADE UNDER THE "SAFE HARBOR" PROVISIONS OF




THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995. THESE EXPECTATIONS AND
PROJECTIONS ARE BASED ON CURRENTLY AVAILABLE COMPETITIVE, FINANCIAL AND
ECONOMIC DATA ALONG WITH THE COMPANY'S OPERATING PLANS AND ARE SUBJECT TO
FUTURE EVENTS AND UNCERTAINTIES. MANAGEMENT CAUTIONS THE READER THAT THE
FOLLOWING FACTORS, AMONG OTHERS, COULD CAUSE THE COMPANY'S ACTUAL
CONSOLIDATED RESULTS OF OPERATIONS AND FINANCIAL POSITION IN 2000 AND
THEREAFTER TO DIFFER SIGNIFICANTLY FROM THOSE EXPRESSED IN FORWARD-LOOKING
STATEMENTS: THE COMPANY'S DEPENDENCE ON A SINGLE CUSTOMER; THE SIGNIFICANT
QUARTER-TO-QUARTER VARIABILITY IN THE COMPANY'S REVENUES AND NET INCOME; THE
COMPANY'S DEPENDENCE ON THE POPULARITY OF LICENSED ENTERTAINMENT PROPERTIES
AND THE ABILITY TO LICENSE, DEVELOP AND MARKET NEW PRODUCTS; THE COMPANY'S
DEPENDENCE ON FOREIGN MANUFACTURERS; THE COMPANY'S NEED FOR ADDITIONAL
WORKING CAPITAL; AND THE POTENTIAL NEGATIVE IMPACT OF ACQUISITIONS. THE
COMPANY UNDERTAKES NO OBLIGATION TO PUBLICLY RELEASE THE RESULTS OF ANY
REVISIONS TO FORWARD-LOOKING STATEMENTS, WHICH MAY BE MADE TO REFLECT EVENTS
OR CIRCUMSTANCES AFTER THE DATE HEREOF OR TO REFLECT THE OCCURRENCE OF
UNANTICIPATED EVENTS. THE RISKS HIGHLIGHTED HEREIN SHOULD NOT BE ASSUMED TO
BE THE ONLY ITEMS THAT COULD AFFECT THE FUTURE PERFORMANCE OF THE COMPANY.

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