Mobile Game Company Freeze Tag Announces an Update From the CEO

Mobile Game Company Freeze Tag Announces an Update From the CEO

TUSTIN, Calif., Jan. 8, 2013 (GLOBE NEWSWIRE) -- Freeze Tag (OTCQB:FRZT) CEO
Craig Holland updated shareholders on the progress of the company today.

Investor Relations Update

At Freeze Tag, we are busy planning, coding, drawing, writing and doing all of
the little things it takes to make great family friendly mobile games. In the
coming months, we will make announcements that will provide you with
information to anticipate and track our progress throughout the year. We have
been in the process of choosing an investor relations firm to assist us with
our investor outreach and communications program. We will have news on this
subject shortly.

Product Update

Grimm Reaper™: Hidden Tales launched in December and has been performing to
our expectations. Although we cannot provide any details at this time, the
product is in the "test" phase right now as we measure feedback from
customers, analyze data from in app purchases, and continue to make
improvements in the game to maximize performance. After we make these changes
and further measure results, the promotional program will begin. It is not
uncommon for freemium (or free-to-play games with in-app purchases) to be in a
test phase for 60-90 days during which adjustments are made before promotional
dollars are spent. The next updates to the game should be launching in
January.

Originally, Party Animals™ was planned for a late Q4 release, but in
discussions with our partner GREE, we made the decision to launch Party
Animals in Q1 2013. Based on the results of our early user testing, Party
Animals is shaping up to be a very exciting and entertaining new game.

Beta Test

If any investors are interested in participating in our beta test program,
please signup here: http://frzt.us/betatestsignup. Or, send an email to
"betatest@freezetag.com" and we will get in touch with you.

Investor Information

For any new or potential investors, if you would like to signup to directly
receive investor updates, you can do so by going to our web site here:
http://www.freezetag.com/investors/ or, to directly signup, please go to this
link:http://frzt.us/investoremaillist

About Freeze Tag, Inc.

Headquartered in Tustin, California, Freeze Tag, Inc. (FRZT) creates "family
friendly fun" games for smartphones, tablets, PCs and Macs. For more
information, visit the Freeze Tag website atwww.freezetag.com. Freeze Tag
(FRZT) stock is publicly traded on the OTCQB exchange.

The Freeze Tag, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=15658

Safe Harbor Notice

Certain statements contained herein are "forward-looking statements" (as
defined in the Private Securities Litigation Reform Act of 1995). Freeze Tag,
Inc. cautions that statements made in this news release constitute
forward-looking statements and makes no guarantee of future performance.
Forward-looking statements are based on estimates and opinions of management
at the time statements are made. These statements may address issues that
involve significant risks, uncertainties, estimates and assumptions made by
management. Actual results could differ materially from current projections or
implied results. Freeze Tag, Inc. undertakes no obligation to revise these
statements following the date of this news release.

CONTACT: Craig Holland
         Freeze Tag, Inc.
         investorrelations@freezetag.com
         (714) 210-3850 x26

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