EXHIBIT 99.7


                        FOR:              PLAY-BY-PLAY TOYS & NOVELTIES, INC.

                        CONTACT:          JOE M. GUERRA
                                          CHIEF FINANCIAL OFFICER
                                          PLAY-BY-PLAY TOYS & NOVELTIES, INC.
FOR IMMEDIATE RELEASE                     (210) 829-4666


                     PLAY-BY-PLAY TOYS & NOVELTIES, INC.
        ANNOUNCES NEW CHAIRMAN, PRESIDENT, AND CHIEF OPERATING OFFICER


SAN ANTONIO, TX, JULY 23, 2001-- PLAY-BY-PLAY TOYS & NOVELTIES, INC. (OTCBB:
PBYP) is pleased to announce that Tomas Duran, in addition to his current
position of Chief Executive Officer, is joining the Board of Directors as
Chairman of the Board. Mr. Duran previously had been a director of the Company
and a member of its Audit Committee.

The Company's Board of Directors also appointed Ottis W. Byers to the positions
of President and Chief Operating Officer. Mr. Byers had most recently been
employed by the Company as its National Sales Director.

Play-By-Play Toys & Novelties, Inc. designs, develops, markets and distributes a
broad line of quality stuffed toys, novelties and consumer electronics based on
its licenses for popular children's entertainment characters, professional
sports team logos and corporate trademarks. The Company also designs, develops
and distributes electronic toys and non-licensed stuffed toys, and markets and
distributes a broad line of non-licensed novelty items. Play-By-Play has license
agreements with major corporations engaged in the children's entertainment
character business.


Except for the historical information contained herein, the matters discussed in
this release are forward-looking statements that involve risks and uncertainties
that could cause actual results to differ materially, including, without
limitation, risks associated with the Company's liquidity and capital resources,
relationships with licensors, competitive and economic factors, price changes by
competitors, ability to manage growth, ability to source products, international
trade relations, management of quarter to quarter results, increase in costs of
raw materials, timing of technological advances by the Company and its
competitors, lack of acceptance by consumers of new products, and the other
factors discussed in the "Risk Factors" section of the Company's Form 10-K dated
July 31, 2000. Updated information will be periodically provided by the Company
as required by the Securities Exchange Act of 1934.