.
                                                                               .
                                                                               .
EXHIBIT 99.1





                                                        
 AT EQUITY MARKETING, INC.:       AT FRB | WEBER SHANDWICK:
 Christine Noel                   Tony Rossi                  Tricia Ross
 SVP, Corporate Communications    General Information         Investor Inquiries
 (323) 932-4436                   (310) 407-6563              (310) 407-6540


FOR IMMEDIATE RELEASE

                      EQUITY MARKETING ANNOUNCES DEPARTURE
          OF CHIEF FINANCIAL OFFICER; REAFFIRMS THIRD QUARTER GUIDANCE

          LOS ANGELES, October 8, 2003 - Equity Marketing, Inc. (Nasdaq: EMAK)
today announced the resignation of Larry Madden as Chief Financial Officer for
personal reasons, effective immediately. Equity Marketing has initiated a search
for a new Chief Financial Officer, and Mr. Madden will remain as a consultant to
the Company for a period of at least three months to assist with ongoing
projects and the transition to a new CFO. Don Kurz, Chairman and Chief Executive
Officer of Equity Marketing, will serve as Acting CFO until a new CFO is hired.


          Equity Marketing has also retained the services of Paula Croutch to
oversee the day-to-day management of the Company's finance and accounting
functions during the search process. A certified public accountant, Ms. Croutch
was the concurring or engagement partner on the Company's independent auditing
team from 1998 through 2001 and has a thorough understanding of the Company's
business, operations, and financial systems and processes.

          "We thank Larry for his contributions to Equity Marketing's growth and
wish him well in his future endeavors," said Mr. Kurz.

THIRD QUARTER 2003 GUIDANCE

          Equity Marketing also reaffirmed its expectations that third quarter
2003 earnings per share will range from $0.14 to $0.18. Equity Marketing will
announce its third quarter results on Thursday, October 30, 2003, after the
market closes.

                                     -more-

Equity Marketing Announces Departure of Chief Financial Officer; Reaffirms Third
Quarter Guidance
Page 2 of 2




ABOUT EQUITY MARKETING

          Equity Marketing, Inc. is a leading global marketing services company
based in Los Angeles, with offices in Chicago, New York, London, Paris and Hong
Kong. The Company focuses on the design and execution of strategy-based
marketing programs, with particular expertise in the areas of: strategic
planning and research, entertainment marketing, design and manufacturing of
custom promotional products, promotion, event marketing, collaborative
marketing, and environmental branding. The Company's clients include Burger King
Corporation, Diageo, Dr Pepper/Seven Up, Kellogg's, Kohl's, Macy's, Nordstrom's,
and Procter & Gamble, among others. The Company complements its core marketing
services business by developing and marketing distinctive consumer products,
based on trademarks it owns or classic licensed properties, which are sold
through specialty and mass-market retailers. More information about Equity
Marketing is available on the Company's web site at www.equitymarketing.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
2003 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; the negative results of litigation, governmental proceedings or
environmental matters; and the potential negative impact of past or future
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.

                                      # # #