ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro
  adhoc with the aim of a Europe-wide distribution. The issuer is solely
  responsible for the content of this announcement.

14.01.2011

Rödental, January 14, 2011 - The agreement in principle, signed at 
the beginning of October 2010 in order to secure long-term financing 
for Zapf Creation AG, has been executed. This completes the 
restructuring of Zapf Creation´s group financing.

Contact:
Gerolf Werning
WPFC Consulting GmbH
Tel.: +49 (0) 163 711 711 2
E-mail:  werning@wpfc.de

end of announcement                               euro adhoc

Further inquiry note:

Claudia Dorst
Telefon: +49(0)9563/725-1513
E-Mail: claudia.dorst@zapf-creation.de

Branche: Consumer Goods
ISIN: DE0007806002
WKN: 780600
Index: MDAX, CDAX, Classic All Share
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Hamburg / free trade
Stuttgart / free trade
Düsseldorf / free trade
Hannover / free trade
München / free trade