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[via press release]

Navarre’s FUNimation Entertainment Announces the FUNimation Channel

24-hour digital anime network to be available nationwide from OlympuSAT

Fort Worth, TX – September 29, 2005 – FUNimation® Entertainment, a wholly-owned subsidiary of Navarre Corporation (NASDAQ: NAVR), and one of the nation’s leading brand management and independent home video entertainment companies, is launching the FUNimation Channel(SM), a 24-hour digital network featuring programming of top-rated anime brands from Japan.

“The broadcast success we’ve experienced with our anime brands proves that solid TV exposure gives fans the chance to see more great anime and it increases sales and licensing opportunities. This has driven us to pursue additional avenues to get more of our shows broadcast exposure in the United States,” said Gen Fukunaga, president and CEO of FUNimation Entertainment. “The FUNimation Channel will give us the opportunity to bring more of our proven, high-rated anime titles from Japan to fans throughout the United States and expand awareness of anime to whole new audiences.”

FUNimation is a brand management company that manages a full spectrum of rights for many of its brands including broadcasting. The company has already experienced notable broadcast accomplishments with network partners in the United States.

“Thanks to engaging content and strong titles, both FUNimation and our network partners have experienced success and we look forward to continuing our relationships going forward,” explains Fukunaga. “The FUNimation Channel is the first step in getting more of our top-rated anime shows broadcast and grabbing a larger share of the growing U.S. anime market.”

FUNimation recently signed an agreement with OlympuSAT, a leading distributor of independent digital programming networks, for the distribution of the FUNimation Channel. OlympuSAT is the exclusive distributor and the FUNimation Channel is now available to video service providers throughout the nation.

“FUNimation is dedicated to bringing the best anime to the United States and we are extremely excited to begin working with OlympuSAT to bring these leading shows into homes across the nation via the FUNimation Channel,” said Fukunaga. “OlympuSAT is one of the top distributors of independent digital programming in the United States, and coupled with the high quality anime programming from FUNimation, the FUNimation Channel will be an attractive offering for operators across the nation.”

“The FUNimation Channel features great programming from some of the most engaging anime brands in the United States,” said Colleen Glynn, Senior Vice President of Affiliate Sales and Distribution for OlympuSAT. “We are confident that U.S. operators will see that the FUNimation Channel is the perfect complement and addition to their digital line-ups.”

FUNimation also announced plans to launch the FUNimation Channel website (www.funimationchannel.com) within a few weeks. Fans will be able to find more information on the programming, the schedule and the shows. For interested video providers, detailed programming and other exciting network information is available exclusively through OlympuSAT.

About FUNimation Entertainment
FUNimation® Entertainment, a wholly-owned subsidiary of Navarre Corporation (NASDAQ: NAVR), is a brand management company and one of the nation’s leading independent home video entertainment companies. The company’s most recent initiative is the FUNimation ChannelSM, a new, 24-hour digital network featuring programming of top anime brands from Japan. FUNimation 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. For images, or more information on FUNimation Entertainment, the FUNimation Channel, or any of FUNimation’s properties, contact Jeff Dronen at 817-788-0627, ext. 251 or jeff.dronen@funimation.com.

About OlympuSAT
OlympuSAT, Inc. distributes independently owned and operated digital networks on individual transponder platforms and currently represents more than twenty diverse channels through their Hispanic and Faith & Families Packs. A turnkey service provider, OlympuSAT facilitates technical related services for the transponder and uplink along with affiliate sales services. Additional services provided to networks include, as needed, master control, advertising sales and traffic and billing services. The OlympuSAT suites are distributed via Intelsat Americas 13. An affiliate of Ocean Communications, OlympuSAT is based in West Palm Beach Florida, serving homes nationwide. www.olympusat.com