Max Payne Coming to the Xbox and PlayStation2

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.

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Private Securities Reform Act of 1995: The statements contained herein which are
not historical facts are considered forward looking statements under federal
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operating results may vary significantly from such forward looking statements.
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