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Atari receives letter of intent to purchase its shares from Infogrames Entertainment S.A

Telecomworldwire, March 7, 2008

TELECOMWORLDWIRE-7 March 2008-Atari receives letter of intent to purchase its shares from Infogrames Entertainment S.A.(C)1994-2008 M2 COMMUNICATIONS LTD http://www.m2.com

Atari Inc (Nasdaq: ATAR), an interactive entertainment company, reported on Thursday (6 March) that Infogrames Entertainment S.A. (IESA), the majority shareholder of Atari, has issued a letter to Atari's board of directors concerning a non-binding intention of IESA to purchase, for USD1.68 per share, the outstanding stock not owned by them of Atari.

The board confirmed that it has created a special committee to appraise the proposal put forward by IESA in the letter.

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Atari has said that as the letter of intent was non-binding, there was no certainty that the transaction will go ahead, nor are there details of the transaction's terms yet available.

((Comments on this story may be sent to tww.feedback@m2.com))

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