Independent special committee rejects Larry Rosen's allegation



    MONTREAL, Sept. 16 /CNW Telbec/ - MEGA Brands Inc. (TSX:MB) announces
today that an independent special committee of its Board of Directors has
concluded that no action should be taken by the company in response to
allegations made by a former principal of Rose Art Industries Inc., of insider
trading by certain MEGA Brands' officers in 2005 and 2006. Mr. Larry Rosen
filed an application for leave to commence proceedings on behalf of the
company based on such allegations in Ontario Superior Court on September 10,
2008.
    When the Company was initially informed of these allegations, the Board
of Directors formed a special committee, consisting solely of independent
directors, which retained independent legal advisors Fasken Martineau
DuMoulin LLP, a leading law firm with recognized expertise in securities law
and corporate governance matters, to carry out a full and comprehensive
investigation of such allegations and to report back with their conclusions.
The special committee received and reviewed the Fasken Martineau report. The
special committee concluded that no action should be taken. Its recommendation
was considered, voted on and unanimously approved at a meeting of the Board of
Directors comprised solely of independent directors.

    About MEGA Brands

    MEGA Brands 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 that deliver on our
Creativity to the Rescue promise. Visit http://www.megabrands.com for more
information.

    The MEGA logo, Creativity to the Rescue, Mega Bloks, Rose Art, MagNext
and Board Dudes are trademarks of MEGA Brands Inc. or its affiliates.




For further information:

For further information: Analysts and Investors: Eric Phaneuf, (514)
333-5555 ext. 2538, ephaneuf@megabrands.com; Media: Harold Chizick, (514)
333-5555 ext. 2338, hchizick@megabrands.com


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