NLN National Lampoon,

National Lampoon, Inc. (NYSE Alternext US: NLN), the most widely recognized brand in comedy, today announced that Section 610 of the NYSE Alternext US LLC (the �Exchange�) Company Guide requires a company whose securities are listed on the Exchange to make a public announcement through the news media disclosing the receipt of an audit opinion that contains a going concern qualification. This information was inadvertently excluded from the earnings release issued by the Company on November 11, 2008. The audit report included in the Company�s Annual Report on Form 10-K, which was filed with the Securities and Exchange Commission on November 10, 2008, included a going concern qualification. About National Lampoon National Lampoon, Inc. (NYSE Alternext US: 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, the new ZAZ 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