ACCLAIM ENTERTAINMENT, INC.'S 'DAVE MIRRA FREESTYLE BMX 2' AND 'CRAZY TAXI' JOIN SCEA'S 'GREATEST HITS' PROGRAM

Award-Winning Titles Highlighted For Their Excellence and Now Priced at $19.99

GLEN COVE, NY, August 21, 2002 - Underscoring the ongoing popularity and strength of its diverse product portfolio, Acclaim Entertainment, Inc. (NASDAQ.SC: AKLM), today announced that two of its previously released products for the PlayStation®2 computer entertainment system, Dave Mirra Freestyle BMX(TM) 2 and Crazy Taxi(TM), have joined SCEA's "Greatest Hits" program. As members of the program, which only includes high quality products that have sold in excess of 400,000 units, both titles will be repackaged to include the red "Greatest Hits" official designation and carry suggested retail prices of $19.99.

"Dave Mirra Freestyle BMX 2 and Crazy Taxi are among our most successful titles for the PlayStation®2, and we are very proud to be included in SCEA's 'Greatest Hits' program," said Chris Hickey, Senior Vice President of Sales. "As the installed base of this system continues to grow, so does the demand for valued mass-market entertainment experiences, which is very well represented throughout our catalog of award-winning products."

Dave Mirra Freestyle BMX 2

Dave Mirra Freestyle BMX 2 is the only game that features 10-time world champion and 12-time X Games champion, Dave Mirra. Players complete a variety of challenges to earn the respect of fellow riders as they progress through the game's eight massive levels, which feature the very best in vert, dirt, street and park riding. Dave Mirra Freestyle BMX 2 offers an innovative S.I.K. trick system, which allows players to pull more than 1,500 tricks, including the new grind, wall ride and lip trick modifiers. In addition, the game features 14 pro riders, including Ryan Nyquist, Mike Laird, and Colin Mackay; super-competitive multiplayer games; and a BMX Park Editor that will allow users to create their own BMX experience.

Crazy Taxi

Developed by SEGA(R) and optimized by Acclaim Studios Cheltenham, Crazy Taxi is a mad race against the clock -- and traffic. As any of four fearless cabbies, players are driven by a single goal: to rack up the mega-bucks in fares and tips before their shift ends. Drivers pick up passengers and take them to their destination by any way possible. It's a comic cab opera of collisions and decisions where courtesy takes a back seat to coin. Crazy Taxi offers an array of exciting features, including:

Four different cabs and drivers, each with their own style and attitude;

Three intense modes of play, Original, Arcade and Crazy Box;

Two expansive, interactive courses for extensive game play;

16 mini-games to challenge various driving skills;

True driving dynamics;

Real life in-game licenses, including Levi's Tower Records and Pizza Hut;

Wild, mission-based game play infused with humor;

Exclusive in-game soundtrack by hit bands Offspring and Bad Religion.

Dave Mirra Freestyle BMX 2 and Crazy Taxi are both currently available for the PlayStation®2 computer entertainment system at suggested retail prices of $19.99. For more information regarding these titles, as well as Acclaim's entire product lineup, please visit http://www.acclaim.com. 

About Acclaim Entertainment

Based in Glen Cove, N.Y., Acclaim Entertainment, Inc., is a leading worldwide developer, publisher and mass marketer of software for use with interactive entertainment game consoles including those manufactured by Nintendo, Sony Computer Entertainment and Microsoft Corporation as well as personal computer hardware systems. Acclaim owns and operates six studios located in the United States and the United Kingdom which includes a motion capture and recording studio in the U.S., and publishes and distributes its software through its subsidiaries in North America, the United Kingdom, Germany, France and Spain. The Company uses regional distributors worldwide. Acclaim also distributes entertainment software for other publishers worldwide, publishes software gaming strategy guides and issues "special edition" comic magazines from time to time to support its time valued brands, Turok and Shadow Man. Acclaim's corporate headquarters are in Glen Cove, New York and Acclaim's common stock is publicly traded on NASDAQ.SC under the symbol AKLM. For more information please visit our website at http://www.acclaim.com. 

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