Navarre Corporation Announces FUNimation Entertainment's

Acquisition of Rights Formerly Held by A.D. Vision 
Sojitz's ARM Corporation Transfers Rights to more than 30 Titles 
MINNEAPOLIS, July 7 /PRNewswire-FirstCall/ -- Navarre Corporation
(Nasdaq: NAVR) announced today that its wholly-owned subsidiary, FUNimation
Entertainment, has entered into an agreement with ARM Corporation that
transfers ARM's interest in select series to FUNimation.  FUNimation
Entertainment will distribute and re-release these DVD titles in North America
and other territories around the world beginning later this year. 
Under the terms of the deal, FUNimation Entertainment obtains a variety of
rights to these titles including home video, broadcast, digital and
merchandise to such international successes as Devil May Cry and Guyver: The
Bioboosted Armor TV.  Each of these series was previously under license to
A.D. Vision. 
"We are very enthusiastic about these titles," said Gen Fukunaga,
president and CEO of FUNimation Entertainment.  "Not only are these excellent
series, but they also fuel FUNimation's major initiatives in social
networking, the FUNimation Channel and internet VOD.  These new titles cement
FUNimation as the leading anime provider in North America for television
broadcast and legitimate on-line content.  These shows allow us to
increasingly provide the best anime to our fans on their own terms." 
About FUNimation Entertainment 
FUNimation(R) Entertainment is a wholly-owned subsidiary of Navarre
Corporation and the leading company providing Japanese animation in the United
States. FUNimation is known for acquiring top-rated anime series from Japan
and for being the market share leader for home video sales of anime in the
United States. The company has a proven formula for launching and advancing
brands, and manages a full spectrum of rights for many of its brands including
broadcasting, licensing, production, internet, and home video sales and
distribution. 
About Navarre Corporation 
Navarre(R) Corporation (Nasdaq: NAVR) is a publisher and distributor of
physical and digital home entertainment and multimedia products, including PC
software, DVD video, video games and accessories. Navarre develops, licenses
and publishes home entertainment and multimedia content through its Encore,
BCI, and FUNimation subsidiaries and has established distribution
relationships with customers across a wide spectrum of retail channels.
Navarre was founded in 1983 and is headquartered in New Hope, Minnesota.
Additional information regarding Navarre can be found at
http://www.navarre.com. 
About ARM Corporation 
ARM Corporation is a wholly-owned subsidiary of Japanese Contents
Investment LPC (JCI). ARM was established to support the overseas licensing
and distribution of Japanese anime.  JCI was formed by Sojitz Corporation, in
cooperation with the Development Bank of Japan (DBJ) and KlockWorx Co., Ltd. 
About Sojitz Corporation 
Sojitz is engaged in the investment of content creation, with a focus on
Japanese animation, and its export and sale in overseas markets. The company
currently handles over 100 anime titles in more than 30 markets worldwide. 

SOURCE  Navarre Corporation 
CONTACT:
Navarre Investor Relations, +1-763-535-8333, ir@navarre.com
-0- Jul/07/2008 20:00 GMT
 
 
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