Collectible Concepts Group Issues Correction

Monday October 2, 8:26 AM EDT

In a press release issued September 28, 2006, CCGI (CCGI) incorrectly stated that CCGI "partners" and is "teamed with" Sovereign Bank in connection with a promotional giveaway of Fanbanas(TM) for the October 8, 2006 football game between the Philadelphia Eagles and the Dallas Cowboys.

CCGI's relationship with Sovereign Bank is limited to its role as vendor selling the Fanbanas to Sovereign Bank. CCGI is not a partner of Sovereign Bank and is not engaged in any promotional activities with Sovereign Bank.

About Collectible Concepts Group

Collectible Concepts Group, Inc. develops and markets unique licensed sports and entertainment collectible merchandise for specialty, mass retail and online distribution. Nationally recognized in direct response marketing, replica design, mass-market distribution and e-commerce marketing, Collectible Concepts and its products are renowned both for quality and authenticity. Licenses include over 25 colleges and universities, including: The National Basketball Association (NBA), The National Hockey League (NHL), Arena Football, and others. For more information, visit: www.collectibleconcepts.com or www.otcfn.com/ccgi.

SAFE HARBOR STATEMENT
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and as such, may involve risks and uncertainties. Forward-looking statements, which are based on certain assumptions and describe future plans, strategies, and expectations, are generally identifiable by the use of words such as "believe," "expect," "intend," "anticipate," "estimate," "project," or similar expressions. These forward-looking statements relate to, among other things, expectations of the business environment in which the Company operates, projections of future performance, potential future performance, perceived opportunities in the market, and statements regarding the Company's mission and vision. The Company's actual results, performance, and achievements may differ materially from the results, performance, and achievements expressed or implied in such forward-looking statements.

Contact:
Rick McCaffrey
Investor Relations for Collectible Concepts Group
OTC Financial Network
781-444-6100 x625