BRYAN, Ohio--(BUSINESS WIRE)--May 21, 1999--In connection with The Ohio Art Company's (ASE-OAR) press release of first quarter profits for the period ended April 30, 1999, released yesterday, May 20th, the following statement was inadvertently omitted: "Pending resolution of bank financing issues reported earlier in the month, the Board of Directors decided not to declare a regular quarterly dividend." The Company noted in its press release of yesterday that results recorded a net income in the first quarter of the year for only the third time in the past two decades. These favorable results were in part attributed to a combination of increased toy volume at higher average gross margins and reduced overhead. Higher volume was led by both domestic and international demand for the Company's Betty Spaghetty(R) mix and match fashion doll. Domestic shipments of Water T-Ball(TM), an outdoor water toy, also contributed to the record first quarter sales comparisons.  