National Lampoon Acquires Rivalfish.com

Continues to Aggressively Grow Wholly Owned Web Properties
Portfolio
LOS ANGELES--(Business Wire)--
National Lampoon, Inc. (AMEX:NLN), the most widely recognized
brand in comedy, today announced that it has acquired the website, and
retains an option to purchase the licensing division, of Rivalfish
(www.rivalfish.com), the #1 college sports rivalry brand, for an
undisclosed sum.

Prior to the acquisition, Rivalfish was part of the National
Lampoon Humor Network, the number one humor destination on the web, as
ranked by ComScore. This acquisition follows the recent acquisitions
of College Hangover (www.CollegeHangover.com) and Drunk University
(www.DrunkUniversity.com), as National Lampoon continues to grow its
portfolio of wholly owned web properties.

"Rivalfish has quickly emerged as a favorite destination for
sports fans in the National Lampoon Humor Network, and is a natural
fit with our fast growing sports focused blog,
NationalLampoonSplog.com," said National Lampoon Chief Executive
Officer Daniel Laikin. "We are excited to expand our relationship with
Rivalfish as we increase the range of content we offer our fans online
and continue to grow National Lampoon's web presence. The sports
focused comedy space is a quickly growing revenue generating area for
us."

Rivalfish.com was founded in 2004 by three college sports fanatics
who shared a passion for finding success at other people's expense.
The merchandising and licensing division of Rivalfish offers products
including hoodies, t-shirts and magnets for die-hard fans. Rivalfish
allows buyers to customize the Rivalfish logo with their own teams and
then place it on their choice of merchandise, giving each fan the
chance to wear their colors with pride.

Rivalfish cofounder Michael Raspatello commented, "We're fully
confident that National Lampoon will have no problem taking the
Rivalfish brand of culture and satirical chauvinism farther than any
mother would ever approve!"

Rivalfish.com also hosts the site's online magazine "The Rival
Room," which delivers daily bulletins on sports, humor, music and pop
culture. The site also features Rivalfish's "Fish Fry," a web TV show
with a monthly video podcast and roast of all things sports, hosted by
Rivalfish founders Jack Storm and Slam Jackson.

Rivalfish.com has been featured in publications such as Sports
Illustrated, USA Today and The Chicago Sun Times. The site's founding
partners were also profiled in Entrepreneur Magazine's Hot List Issue.

About National Lampoon

National Lampoon, Inc. (AMEX: NLN) has been a dominant force in
the US comedy world for almost 40 years, and is currently active in a
broad array of media and entertainment segments. These include feature
films, television programming, online and interactive entertainment,
home video, audio, and book publishing. The Company also owns
interests in all major National Lampoon properties, including National
Lampoon's Animal House, the National Lampoon Vacation series and
National Lampoon's Van Wilder. National Lampoon reaches nearly one in
four of all 18- to 24-year-old college students in America today. The
Company has three core operating divisions: National Lampoon Films,
which includes production along with theatrical and video distribution
of feature films; College Marketing Division; and National Lampoon
Networks, providing humor content through a number of platforms. These
include its National Lampoon College TV network, the National Lampoon
Humor Network -- the most trafficked humor sites on the web, Toga
TV.com -- the company's broadband channel, the Drunk University
Network, and the National Lampoon Video Network, which includes
channels on YouTube, AOL, Yahoo, Joost, and a number of digital video
platforms across the Internet. These are all anchored by the
award-winning comedy website www.nationallampoon.com.

National Lampoon, Inc.
Press:
Alastair Duncan, 310-300-0950 x 223
aduncan@LCOonline.com
or
Dawn Miller, 310-300-0950 x 231
dmiller@LCOonline.com
or
IR Contacts:
Howard Gostfrand/David Sasso, 305-918-7000
info@amcapventures.com
www.amcapventures.com

Copyright Business Wire 2008