EXHIBIT 99

                      JUST TOYS ANNOUNCES IMPLEMENTATION
                            OF REVERSE STOCK SPLIT



Dobbs Ferry, New York, Sept. 4, 1998:


Just Toys, Inc. (NASDAQ: JUST) announced that a 1 for 2 reverse stock split of
its common stock was approved by stockholders at Just Toys' Annual Meeting on
September 1, 1998 and will be effective at 5:00 p.m. on September 4, 1998.

As previously reported, the reverse split is part of Just Toys' Nasdaq
authorized plan to achieve a $1.00 per share bid price so that the common
stock listing may be moved from the Nasdaq National Market to the Nasdaq
SmallCap Market.

Just Toys, Inc. is a manufacturer and marketer of toys, sold in the United
States and internationally. Its licenses include such well known names as
Spalding, Louisville Slugger and the World Wrestling Federation (WWF).

Except for historical information, this news release contains forward-looking
statements which involve unknown risks and uncertainties that may cause the
Company's actual results or outcomes to be materially different from those
anticipated and discussed herein. Important factors that might cause such
differences include the Company's dependence on the timely development,
introduction and customer acceptance of new products, changes in consumer
preferences, dependence on a limited number of major customers, the impact of
competition on revenues, margins and pricing, inventory management of
customers, reliance on manufacturers based in China, and other factors
discussed from time to time in the Company's public announcements and filings
with the Securities and Exchange Commission.