Race of Champions Announce

FOR IMMEDATE RELEASE

ACTIVISION NAMES CLIMAX AS
DEVELOPER FOR RACE OF CHAMPIONS

London, UK – 31st July, 2001 –
Continuing to partner with industry-leading U.K. developers, Activision, Inc. (Nasdaq:
ATVI) has signed an agreement with the Climax Group to develop its upcoming
rally racing game, Race of Champions. Based on the prestigious Michelin Race of
Champions race which is held annually in the Canary Islands, the game engages
players in the realism, challenge and competition of one-on-one rally racing
while delivering the raw fun and exhilaration of action racing. Activision
expects to release the game for the PlayStation® 2 computer entertainment
system and the Xbox(tm) video game system from Microsoft in 2002.

"We are very excited to partner
with the Brighton arm of the Climax Group to develop Race of Champions,"
said Julian Lynn Evans, vice president European studios, Activision. "Their
development expertise coupled with their proprietary DYNE Motorsports
technology’s powerful simulation capabilities, will enable us to achieve ultra
realistic motion and collision responses on a variety of vehicles. Climax aims
to make Race of Champion the most cutting-edge game in the driving genre and
given their track record, we fully expect them to succeed."

"This is truly a match made in
heaven," commented Karl Jeffrey, President and CEO of the Climax Group.
"Climax’s Motorsports technology and Activision’s sales and marketing
muscle are an unbeatable combination. I fully believe that Race of Champions is
going to be the greatest rally game ever made."

Race of Champions is the first rally
game to let players battle it out for the Champion of Champions crown in the
infamous Race of Champions where the world’s top drivers compete head to head.
Delivering intense full throttle action, Race of Champions challenges players to
master the roads, deserts and mountains of this exciting racing tour. Choosing
among 24 licensed cars from the leading manufacturers that participate in the
sport including Mitsubishi, Toyota, Ford, Lancia, Peugeot, Audi, Porsche,
Citroen and Seat and more than 30 drivers including such legends as Didier
Auriol from France, Armin Schwartz from Germany and Tomi Makkinen from Sweden,
gamers race through 12 stunning 3D levels that include authentic Race of
Champions Rally tracks and stages.

Established in 1988, Climax has
become one of the world’s leading interactive software development companies.
Over the last 12 years Climax has developed many successful computer and video
games, delivering high quality game experiences in both its’ original products
and conversions Climax bring with them a wealth of experience of developing for
the Racing Genre to the partnership with Activision.