Russ Berrie and Company, Inc. Informs Shareholders of NYSE Policy Pertaining to Deferral of Ex-Dividend Date

Russ Berrie and Company, Inc. Informs Shareholders of NYSE Policy Pertaining to Deferral of Ex-Dividend Date OAKLAND, N.J., May 13 /PRNewswire-FirstCall/ -- RUSS BERRIE AND COMPANY, INC. ("RUSS") today stated that a New York Stock Exchange ("NYSE") policy regarding the deferral of ex-dividend dates for large special dividends applies to RUSS' previously announced special cash dividend of $7.00 per share. Specifically, the NYSE has set June 1, 2004 as the ex-dividend date for the special dividend. As a result, a shareholder of record as of the May 14, 2004 record date who sells RUSS stock after that record date but on or before the May 28, 2004 payment date, will not be entitled to receive the dividend payment as the value of the dividend remains reflected in the market price of the stock until June 1, 2004. In short, shareholders of record as of the close of business on May 14, 2004 who sell their shares between May 15, 2004 and May 28, 2004 will also be selling their right to receive the dividend. The right to receive the dividend will follow the shares until May 28, 2004, at which point only shareholders who own the shares as of the close of business on May 28, 2004 will receive the dividend (i.e. anyone who purchases shares on the NYSE after May 14, 2004 up to and including May 28, 2004 will acquire the right to receive the dividend). Investors are encouraged to consult with their financial advisors regarding the specific implications of the deferral of the ex-dividend date. Russ Berrie and Company, Inc. and its wholly-owned subsidiaries design, develop and distribute approximately 8,000 gift, home decor, infant and juvenile products to retailers worldwide. These products include teddy bears and other stuffed animals, baby gifts, soft baby toys, bibs, mobiles and developmental toys. Also in the Company's product line are picture frames, candles, figurines, home decor gifts, home fragrance products and a wide variety of seasonal and everyday gifts. DATASOURCE: Russ Berrie and Company, Inc. CONTACT: John Wille, Vice President & CFO, Russ Berrie and Company, Inc., +1-201-337-9000; or Alison Ziegler, General Information, Financial Relations Board, +1-212-445-8432, for Russ Berrie and Company, Inc.