Exhibit 99.1

               The Middleton Doll Company's Subsidiary
                 Wins Copyright Infringement Verdict

    PEWAUKEE, Wis.--(BUSINESS WIRE)--July 30, 2004--The Middleton Doll
Company (OTCBB:DOLL) today announced that its Lee Middleton Original
Dolls, Inc. subsidiary won a copyright infringement verdict against
Seymour Mann, Inc.
    On Friday, July 23, 2004, a federal jury in Milwaukee returned a
verdict in favor of Lee Middleton Original Dolls, Inc. on a claim of
copyright infringement against Seymour Mann, Inc., a New York-based
importer of dolls and other products. The jury determined that certain
dolls sold by Seymour Mann contained unauthorized copies of
copyrighted face, hand and foot sculptures created exclusively for Lee
Middleton Original Dolls, Inc. by renowned doll artist Reva Schick.
    "We are pleased to have prevailed on our copyright claim," said
George R. Schonath, president and chief executive officer of The
Middleton Doll Company. "We hope the result will send the message that
Lee Middleton Original Dolls is prepared to aggressively pursue
infringements on its copyrights--whether manufacturers or
importers--to the full extent allowed by law."
    The company also announced the introduction of a Certificate of
Authenticity designed to protect both the artwork of sculptors like
Reva Schick and the value of Lee Middleton Original Dolls, Inc. dolls
purchased by collectors. The company plans to include a certificate,
signed by the artist, with the purchase of dolls in its Artist's
Studio Collection(TM). The certificate will state that the doll
contains exclusively-licensed reproductions of original sculptures
created by the artist.
    Schonath said, "The new artist certificates will reassure our
collectors as to the integrity of our products. In addition, we are
asking our dealers to help us identify infringing products. I believe
we have a responsibility to protect our collectors from unauthorized
reproductions of dolls created from the artist's original sculptures."

    The Middleton Doll Company operates in two segments, consumer
products and financial services. The company's consumer products
segment is comprised of Lee Middleton Original Dolls, Inc., a
designer, manufacturer and marketer of lifelike collectible and play
dolls, and License Products, Inc., a designer and marketer of clocks
and home decor products that are sold to major national retailers. The
company's financial services subsidiary is a real estate investment
trust (REIT).

    This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995 with
respect to the financial condition, results of operations, plans,
objectives, future performance and business of the Company.
Forward-looking statements, which may be based upon beliefs,
expectations and assumptions of the Company's management and on
information currently available to management, are generally
identifiable by the use of words such as "believe," "expect,"
"anticipate," "plan," "intend," "estimate," "may," "will," "would,"
"could," "should," or other similar expressions. Additionally, all
statements in this document, including forward-looking statements,
speak only as of the date they are made, and the Company undertakes no
obligation to update any statement in light of new information or
future events. A number of factors, many of which are beyond the
ability of the Company to control or predict, could cause actual
results to differ materially from those in its forward-looking
statements. Significant risks and uncertainties include (i) the
continuing effect of adverse economic conditions and (ii) the effect
of increasing competition in the collectible doll market. Additional
information concerning the Company and its business, including factors
that could materially affect the Company's financial results, is
included in the Company's filings with the Securities and Exchange
Commission.

    The Middleton Doll Company news releases are available on-line 24
hours a day at: http://www.middletondollcompany.com



    CONTACT: The Middleton Doll Company
             George R. Schonath, 262-523-4300