FOR IMMEDIATE RELEASE

Liz Pieri 

THQ/Media Relations 

818/871-5061

Mary Nelson Garrett 

THQ/Investor Relations 

818/871-5090

Sara Rosaless 

Mattel, Inc. 

310/ 252-5397

THQ AND MATTEL ANNOUNCE STRATEGIC PUBLISHING AGREEMENT

#1 Kids' Game Publisher and #1 Toy Manufacturer Join Forces

CALABASAS HILLS, Calif. - January 31, 2001 - THQ (NASDAQ NMS: THQI) and Mattel, Inc (NYSE: MAT) today announced a strategic publishing agreement naming THQ the exclusive, worldwide interactive publisher of two of Mattel's biggest boy brands. THQ now has the exclusive interactive publishing rights to Hot Wheels and Matchbox properties through 2005 for all console and handheld systems including those manufactured by Sony, Microsoft and Nintendo as well as PC. THQ was also granted exclusive publishing rights to many existing Hot Wheels and Matchbox PC, PlayStation and GameBoy games previously published by Mattel Interactive.

Hot Wheels and Matchbox are two of the most widely recognized brands in toys, apparel and games for boys worldwide. Interactive Hot Wheels and Matchbox adventures have already hit the top 10 PC seller's list three times with Hot Wheels: Slot Car Racing, Stunt Track Driver and Stunt Track Driver 2.

"Teaming up with Mattel Wheels is a key part of our overall business strategy for several reasons," stated Brian Farrell, president and CEO, THQ. "The Hot Wheels and Matchbox properties are two of Mattel's strongest boy brands and provide a wealth of great content for games. These franchises will not only expand our clear leadership position in the kids' category but will also solidify our presence in the PC business."

"THQ's leadership position in the interactive entertainment business, and the kids category in particular, make them the ideal interactive partner for our biggest boy's properties," stated Matt Bousquette, president, Boys/ Entertainment, Mattel. "Their proven development expertise will ensure that the Hot Wheels and Matchbox brands translate into fun, authentic gameplay experiences on the hottest game systems."

Boys of all ages crave Mattel Wheels vehicles. Young boys love the appeal of the Matchbox rescue and real action adventure line of die-cast cars, trucks and playsets. Older boys want the speed, power and performance of Hot Wheels cars and track sets. Adults appreciate the value of high-end Hot Wheels and Matchbox die-cast collectibles in a range of scales from 1/64th to 1/18th.

THQ will release six new Hot Wheels and Matchbox adventures in 2001, including Hot Wheels Jetz for PC, Hot Wheels Mechanix for PC, Hot Wheels Williams F1 Team Driver for PC, Hot Wheels Hybrid Racing for PlayStation, Matchbox Emergency Patrol and Matchbox Mission Bravo, both for PC and GameBoy Color. For more information on these and other THQ releases, visit www.thq.com.

About Mattel Mattel, Inc. is the worldwide leader in the design, manufacture and marketing of toys and family products. The company's best-selling brands include Barbie(r), Hot Wheels(r), Fisher-Price(r) and American Girl(r). With headquarters in El Segundo, California, Mattel has offices and facilities in 36 countries and sells its product in more than 150 nations throughout the world. The company's website can be found at www.mattel.com.

About THQ THQ Inc. develops, publishes and distributes interactive entertainment software worldwide for a variety of hardware platforms including PC CD-ROM, and those manufactured by Sony, Nintendo, Microsoft and Sega. The THQ site is located at www.thq.com. 

The statements contained in this release which are not historical facts may be deemed to constitute forward-looking statements. Actual results may differ materially from those projected in such statements due to a number of risks and uncertainties, including, without limitation, demand and competition for the Company's products and other risks and uncertainties detailed in the Company's filings with the Securities and Exchange Commission, and as more specifically set forth in our most recent form 8-K filed on November 13, 2000.