EXHIBIT 99

CONTACT:  Barry Schwartz/212-677-8700, ext. 18

          SHAPIRO TO SUCCEED LEVY AS JUST TOYS CHIEF EXECUTIVE OFFICER,
                               EFFECTIVE JULY 1ST

NEW YORK, NY 12/16/96:
- ---------------------

Morton J.  Levy,  chairman  and  chief  executive  officer  of Just  Toys,  Inc.
(NASDAQ/NMS:JUST),  today  announced  that the Just Toys board of directors  has
designated Barry Shapiro,  currently  president and chief operating officer,  to
succeed him as chief executive officer, effective July 1, 1997, and that he will
remain chairman of the board of directors.

"Since I became Just Toys'  chief  executive  officer in March of 1995,  we have
succeeded  in turning  the company  around,"  stated  Levy,  "with both a strong
management team and a solid marketing program in place."

"Barry  Shapiro has made a major  contribution  to that  success," he continued,
"and his  track  record  as a leader,  marketer  and  manager  will  assure  the
company's continuing commitment to growth."

Mr.  Levy,  a 3rd  generation  toy  industry  executive,  started  his career as
President of Levy & Fryer, a leading toy rep company, and subsequently served as
President of Gabriel  Industries,  Inc.  and CBS Toys before  retiring to pursue
other  business  interests  in 1980.  He returned  to the  industry in 1993 as a
member of Just Toys' Board of Directors.

Mr.  Shapiro, who was named  president  in March  1995,  joined the  company the
previous year as Managing Director of its Hong Kong operations, and subsequently
relocated to New York headquarters as Executive Vice President.  His 28 years in
the toy industry began as Director of Planning and  International  Operations at
Gabriel  Industries.  He then went on to become  President of the Lakeside Games
Division of Leisure Dynamics, Executive Vice President/General Manager and Chief
Operating  Officer of Wham-O,  and Executive Vice  President/General  Manager of
Imagineering.