MEGA BRANDS COMPLETES SHARE CONSOLIDATION

MONTREAL, June 10, 2011 /CNW Telbec/ - MEGA Brands Inc. (TSX: MB) announced today the completion of its previously announced share consolidation on the basis of one (1) new post-consolidation common share for every twenty (20) pre-consolidation common shares issued and outstanding. The share consolidation was approved at the Corporation's Annual and Special Meeting held on June 10, 2010, and has been accepted by the TSX. It is anticipated that the Corporation's common shares will commence trading on a consolidated basis on the Toronto Stock Exchange when the market opens on June 15, 2011.

As a result of the consolidation, the Corporation will have approximately 16,363,661 issued and outstanding common shares.

New Share Certificates
The Corporation's Transfer Agent, CIBC Mellon Trust Company, will shortly mail letters of transmittal to registered shareholders indicating the procedure to follow in order to exchange their current share certificates for new post-consolidation share certificates. Shareholders who hold their shares in ''street name'' will be contacted by their banks or brokers with any instructions.

Information for Warrant Holders
The number of warrants issued and outstanding remains unchanged at 243,844,000. Warrant holders will be able to acquire one (1) new post-consolidation common share in exchange for every twenty (20) warrants at an exercise price of $9.94 per common share at any time until March 30, 2015. The adjustment to the exercise price of the warrants reflects the terms of the warrant indenture.

Full exercise of the issued and outstanding warrants will result in the issuance of 12,192,200 common shares for gross proceeds of approximately CA$121.2 million. Under the terms of the warrant indenture, such proceeds will be used to purchase the Corporation's debentures, of which the principal amount currently outstanding is approximately CA$121.7 million.

About MEGA Brands
MEGA Brands Inc. is a trusted family of leading global brands in construction toys, games & puzzles, arts & crafts and stationery. They offer engaging creative experiences for children and families through innovative, well-designed, affordable and high-quality products. Visit http://www.megabrands.com for more information.

The MEGA logo, Mega Bloks, Rose Art, MEGA Puzzles, MEGA Games and Board Dudes are trademarks of MEGA Brands Inc. or its affiliates.


SOURCE MEGA BRANDS INC.

For further information:

Investor Contact:

Peter Ferrante
Chief Financial Officer
Tel: (514) 333-5555 ext. 2283

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MEGA BRANDS INC.

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