GATHERING OF DEVELOPERS ANNOUNCES "MAFIA" SHIPS TO STORES

Action Epic "You Can't Refuse" Now on Store Shelves

New York, NY - August 29, 2002 - Computer and video game publisher Gathering of Developers, a subsidiary of Take-Two Interactive Software, Inc. (NASDAQ-TTWO), announced today that "Mafia" for the PC has shipped. Published by Gathering of Developers and developed by Czech Republic-based Illusion Softworks, "Mafia" is now available in stores nationwide.

"With startling graphics, engrossing cinematics, and a compelling storyline, 'Mafia' brings the 1930's underworld to life," said Gary Lewis, international managing director of Take-Two Interactive Software, Inc. Europe. "In this game, players will follow the rise and fall of competing crime families, complete with action-packed missions, a vast living city, and vehicles and weapons that capture the essence of the 1930's Mafioso world."

A 3D action crime epic set in the seedy 1930's underworld, "Mafia" offers gamers the opportunity to become a "Made Man." Players must climb the ranks, starting as lowly Footsoldiers, working their way to the top, earning a reputation of tough enforcer to daring getaway driver, and deadly hitman. The world of the "Salieri Family" is one of mob hits, car chases, and bootlegging - and it can all be yours, if you've got the chops.

"Mafia" features include:

* 20 action-packed missions with sub-quests - luxury and riches are yours for the taking, if you do as Don Salieri requests. From mob hits, car chases, shootouts, and more, complete unsavory tasks for the Family and you will be rewarded.

* 12 square miles of a 1930's American city to explore, with simulated traffic, landmarks, and surrounding landscapes.

* Convincing environments designed with meticulous attention to detail and style. Seedy bars, hotel rooms, and train stations - every location is rendered in fantastic detail by the 3D "LS3D" engine, such as the Lost Heaven International Airport and Chinatown.

* A full gamut of authentic weapons including the Tommy Gun, Colt 1911, S&W model 27 MAGNUM, or pump action shotgun.

* More than 60 different vehicles (including classics, roadsters and delivery trucks) with exceptional car physics.

About Take-Two Interactive Software

All trademarks and copyrights contained herein are the property of their respective holders.

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 the Company's new software products and third-party hardware platforms; market and industry factors adversely affecting the carrying value of our assets; unfavorable general economic conditions (including the current economic downturn); and acts of war and terrorism, any or all of which could have a material adverse effect on our business, operating results and financial condition. These important factors and other factors that could affect the Company are described in the Company's Annual Report on Form 10-K, as amended, for the fiscal year ended October 31, 2001 and on Form 10-Q for the quarter ended April 30, 2002. Actual operating results may vary significantly from such forward-looking statements. The Company has no obligation to update such forward-looking statements.