Take-Two Starts on Xbox Titles

 

 BW2306
FEB 15,2001 7:30 PACIFIC 10:30 EASTERN

 

(
BW)(NY-TAKE-TWO-SOFTWARE)(TTWO)(MSFT) Take-Two Interactive Software, Inc.
Confirms Development of Software Titles for Microsoft’s Xbox

Business
Editors/High-Tech Writers

 

NEW
YORK–(BUSINESS WIRE)–Feb. 15, 2001–Take-Two Interactive Software, Inc. (Nasdaq:TTWO)
announced today that it has begun development of several software titles for
the Xbox(TM) video game console from Microsoft(TM) (Nasdaq:MSFT), due out in
the fall of 2001. Titles in development for Xbox include Grand Theft Auto 3,
the much anticipated sequel based on the Grand Theft Auto franchise, and 4X4
EVO 2, an off-road driving adventure game featuring fully-licensed sports
utility vehicles.

 

Take-Two’s
library of content includes the Midnight Club: Street Racing, Smuggler’s Run,
Austin Powers, Oni and Duke Nukem brands. Take-Two publishes its titles under
the Rockstar Games, Gathering of Developers and Take-Two labels.

 

Paul
Eibeler, President of Take-Two, said, "We are very excited about the
prospects for Xbox, and the opportunity to publish titles designed to
demonstrate the unique features of this future-generation gaming
console."

 

Robbie
Bach, Chief Xbox Officer, states, "Take-Two has quickly established
itself as a premier publisher, and we are very excited about its commitment to
Xbox. The addition of Take-Two and its properties to the Xbox product lineup
is an added bonus to hardcore gamers. Paul Eibeler and his team at Take-Two
have provided valuable input to us as we’ve developed the Xbox program, and it
is great to have them onboard."

 

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, Nintendo 64, Nintendo
Game Boy Color, Sega Dreamcast and the PlayStation(R)2. The Company publishes
and develops products through various wholly owned subsidiaries including:
Rockstar Games, Gathering of Developers, TalonSoft, Joytech, DMA Design,
PopTop and under the Take-Two brand name. The Company’s Jack of All Games
value added distribution arm maintains sales and marketing offices in
Cincinnati, New York, Toronto, London, Paris, Munich, Oslo, Vienna, Stockholm,
Copenhagen, Milan and Sydney.

 

About
Xbox

Xbox
(http://www.xbox.com/) is Microsoft’s future-generation video game console
that delivers new and unforeseen gameplay experiences. With more than three
times the graphics performance of the newest generation of game consoles, Xbox
unleashes game designers’ creativity to produce games that are challenging,
exhilarating, surprising, and fun.

 

Safe
Harbor Statement under the Private Securities Reform Act of 1995: The
statements contained herein 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.

 

CONTACT:
Take-Two Interactive Software, Inc.

Dawn
Berrie, 212/334-6633 (financial)

Jeff
Castaneda, 212/334-6633 (media)

or
Wolfe Axelrod Weinberger Assoc. LLC 

Stephen
D. Axelrod, 212/370-4500 (CFA) 

Donald
C. Weinberger, 212/370-4500 [email protected]

Denise
Ford, 212/370-4500 (media)