MAJESCO ENTERTAINMENT SHIPS PLAYSTATION^®2 VERSION OF CRITICALLY ACCLAIMED ‘PSYCHONAUTS’ VIDEO GAME

EDISON, N.J., June 21, 2005 – Mind games are now three times as much fun as Majesco Entertainment Company (NASDAQ: COOL), an innovative provider of digital entertainment content and products, today announced that Psychonauts for the PlayStation^®2 computer entertainment system has shipped to retail stores nationwide.  The new iteration of Psychonauts now joins the Xbox^® video game system from Microsoft and personal computer versions, which shipped in April.

“Psychonauts is one of the truly creative and completely original video games available today and we are pleased to offer it to millions of PlayStation 2 owners,” said Ken Gold, vice president of Marketing for Majesco.  “The accolades given to Double Fine are justly deserved as they have done a masterful job of developing a game whose universal appeal transcends all demographics.”

Awarding the game a 9.0 out of 10 and its “Buy or Die” seal, PlayStation Magazine says “Psychonauts is hands-down the most refreshing, must-play, re-invention of the platform action game since at least the first Ratchet & Clank.”

Developed by Double Fine Productions and Budcat Creations, Psychonauts thrusts players into a third-person psychic odyssey across 13 incredibly unique levels: three set in the real world and 10 set inside the mental worlds of misfits, monsters and madmen.  Once inside a mind, players rise in rank by collecting figments of imagination; sorting through emotional baggage; clearing out mental cobwebs and cracking open memory vaults.  Players also earn psychic powers like telekinesis, invisibility, pyrokinesis and clairvoyance as they progress through the game.

Featuring a humorous storyline filled with unforgettable characters and non-linear gameplay of incredible depth, Psychonauts offers players multiple paths through wildly imaginative settings.  Along the way, players must conquer an array of challenging puzzles with alternate solutions that tailor themselves to a player’s own strengths and abilities.

Additional information on Psychonauts can be found online at the official website:

http://www.Psychonauts.com.