Take-Two Interactive Software, Inc. Announces Max Payne Coming to Console Systems

8/3/01 - Take-Two Interactive Software, Inc. (NASDAQ:TTWO) announced today that its Rockstar Games subsidiary will be bringing Max Payne, which was developed for the PC by Remedy Entertainment and produced by 3D Realms, to the PlayStation®2 and Xbox(TM) video game system from Microsoft this Fall.

Since its initial shipment on PC a week ago, Max Payne has already debuted as the number 1 selling PC game in the U.K. (source: ChartTrack), Germany (source: Mediacontrol) and other major European markets. Domestically, while not yet officially ranked, the Company has been very pleased with what to date has been record first week North American sell-through for a Take-Two PC product in many major retail accounts.

The Xbox version of Max Payne is in development at the Company's Vienna based Neo Software development studio, while the PlayStation®2 version is being developed at the Company's Toronto based Rockstar Canada studio.

Kelly Sumner, Chief Executive Officer, said, "To date, Max Payne has represented the largest critical and sell-through success Take-Two has ever had on the PC. We are very pleased to leverage the successful Max Payne brand franchise by releasing video game console versions of the product this Fall."

About Take-Two Interactive Software

Headquartered in New York City, Take-Two Interactive Software, Inc. is an integrated global developer, marketer, distributor, and publisher of interactive entertainment software games and accessories for the PC, PlayStation® game console, Nintendo 64, Nintendo Game Boy Color, Sega Dreamcast, PlayStation®2 and the Xbox(TM). The Company publishes and develops products through various wholly owned subsidiaries including: Rockstar Games, Godgames, TalonSoft, Joytech, DMA Design, PopTop, Global Star and under the Take-Two brand name. The Company maintains sales and marketing offices in Cincinnati, New York, Toronto, London, Paris, Munich, Vienna, Copenhagen, Milan and Sydney.

Microsoft, Xbox, and the Xbox logos are either registered trademarks or trademarks of Microsoft Corporation in the United States and/or other countries and are used under license from Microsoft.

Safe Harbor Statement under the Private Securities Reform Act of 1995: The statements contained herein which are not historical facts are considered forward looking statements under federal securities laws. Such forward looking statements are based on the beliefs of our management as well as assumptions made by and information currently available to them. The words "expect," "anticipate," "believe," "may," "estimate," "intend" and similar expressions are intended to identify such forward looking statements. Forward looking statements involve risks, uncertainties and assumptions including, but not limited to: risks associated with our future growth and operating results; our ability to continue to successfully manage growth and integrate the operations of acquired businesses; the availability of adequate financing to fund periodic cash flow shortages; credit risks; seasonal factors; inventory obsolescence; technological change; competitive factors; product returns; failure of retailers to sell-through our products; the timing of the introduction and availability of new hardware platforms; market and industry factors adversely affecting the carrying value of our assets; and unfavorable general economic conditions, any or all of which could have a material adverse effect on our business, operating results and financial condition. Actual operating results may vary significantly from such forward looking statements. The Company has no obligation to update such forward looking statements.

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