Exhibit 99.1

AT THE COMPANY                       AT FINANCIAL DYNAMICS
John Wille -- Vice President & CFO   Cara K. O'Brien - General Information
201-337-9000                         212-850-5600

FOR IMMEDIATE RELEASE

               RUSS BERRIE AND COMPANY, INC. ANNOUNCES REFINANCING

OAKLAND, N.J. -- MARCH 16, 2006 -- Russ Berrie and Company, Inc. (NYSE: RUS)
today announced the closing of two senior secured credit facilities between it
and certain of its subsidiaries and LaSalle Business Credit, LLC ("LaSalle") and
affiliated entities. The new facilities are designed to significantly reduce the
Company's interest expense while still providing an appropriate level of
available funding.

The Company's Kids Line and Sassy subsidiaries (the "infant and juvenile
segment") entered into a $95 million, five year, senior secured credit facility,
a portion of the proceeds of which were used to repay in full all amounts
outstanding under the Company's existing credit facility with LaSalle and
certain other lenders. The infant and juvenile segment facility consists of a
$60 million term loan and a $35 million revolving credit facility.

To facilitate the new financing, the Company formed a new subsidiary, Russ
Berrie U.S. Gift, Inc., which will now operate substantially all of the
Company's domestic gift business. This subsidiary, along with certain other
domestic gift segment subsidiaries, entered into a $20 million senior secured
revolving credit facility (including amounts available to the Company's Canadian
subsidiary).

The gift segment revolver and the remaining amounts available under the infant
and juvenile segment facilities will be used for working capital requirements
and general corporate purposes of the respective subsidiary borrowers.

Andy Gatto, Russ President and CEO comments, "These new facilities will enable
us to significantly reduce our interest costs and more appropriately support the
needs of our two business segments. We continue to value our relationship with
LaSalle, and believe this new loan structure will support the liquidity needs of
our businesses."

Russ Berrie and Company, Inc. (RUSS), a leader in the gift industry (and its
wholly-owned subsidiaries), designs, develops, and distributes a variety of
innovative gift, infant and juvenile products to specialty and mass market
retailers worldwide. Known for its teddy bears and other plush animals, the
Company's gift and juvenile lines are comprised of a diverse range of everyday,
seasonal, and occasion-themed products that help people celebrate the milestones
in their lives. Founded in 1963 by the late Russ Berrie from a rented garage in
New Jersey, today the Company operates offices, showrooms, and distribution
centers all over the world and trades on the NYSE under the symbol RUS.



Note: This press release contains certain forward-looking statements. Additional
written and oral forward-looking statements may be made by the Company from time
to time in Securities and Exchange Commission (SEC) filings and otherwise. The
Private Securities Litigation Reform Act of 1995 provides a safe-harbor for
forward-looking statements. These statements may be identified by the use of
forward-looking words or phrases including, but not limited to, "anticipate",
"believe", "expect", "intend", "may", "planned", "potential", "should", "will",
"would" or "projects". The Company cautions readers that results predicted by
forward-looking statements, including, without limitation, those relating to the
Company's future business prospects, revenues, working capital, liquidity,
capital needs, interest costs and income are subject to certain risks and
uncertainties that could cause actual results to differ materially from those
indicated in the forward-looking statements. Specific risks and uncertainties
include, but are not limited to, the Company's ability to continue to
manufacture its products in the Far East, the seasonality of revenues, the
actions of competitors, ability to increase production capacity, price
competition, the effects of government regulation, results of any enforcement
action by the People's Republic of China ("PRC") authorities with respect to the
Company's PRC operations, the resolution of various legal matters, possible
delays in the introduction of new products, customer acceptance of products,
changes in foreign currency exchange rates, issues related to the Company's
computer systems, the ability to obtain financing to fund acquisitions, the
current and future outlook of the global retail market, the ability to integrate
new business ventures, the ability to meet covenants in its Credit Agreement and
other factors.

                                       ###