Acclaim And Lazer-Tron Amend Merger Terms

Business Wire, July 24, 1995

GLEN COVE, NY--(BUSINESS WIRE)--July 24, 1995--Acclaim Entertainment, Inc. (NASDAQ: AKLM) and Lazer-Tron Corporation (NASDAQ: LZTN) today announced that the Agreement and Plan of Merger, whereby Acclaim will acquire all the outstanding shares of Lazer-Tron in a stock for stock merger transaction, has been amended to reduce the merger consideration to be received by Lazer-Tron shareholders. Under the new terms, upon consummation of the Merger, each outstanding share of Lazer-Tron Common Stock will be exchanged for a fraction of a share of Acclaim Common Stock based on a valuation equal to $8.00 per share, such fraction of a share to be determined based on the average of Acclaim's Common Stock price for the 20 days ending on the close of the second day preceding the Lazer-Tron Special Shareholders Meeting date.

The Special Meeting of Lazer-Tron shareholders originally to be held on July 21, 1995 was adjourned without a vote to July 24 and will be further adjourned until additional solicitation material can be sent to Lazer-Tron shareholders reflecting the reduced merger consideration. The Special Meeting is anticipated to be reconvened in August 1995.

The reduction of the merger consideration was precipitated by a dispute between the parties as to whether certain conditions (including Lazer-Tron's financial performance and financial condition) of Acclaim's obligation to close had not been satisfied. The merger still remains subject to certain conditions typical in transactions of this type, including approval by the shareholders of Lazer-Tron.

According to Robert Holmes, president of Acclaim, "We remain committed to completing the acquisition as soon as practicable and continue to believe that the acquisition of Lazer-Tron presents unique opportunities to expand our library, exploit new properties across our growing entertainment business and gain market share in the coin-operated entertainment market."

Lazer-Tron designs, develops, manufactures and markets a line of interactive, technologically advanced coin-operated ticket redemption games for use in family entertainment centers and other venues.

Acclaim Entertainment, Inc., with offices in Canada, France, Germany, Japan, Spain and the United Kingdom, is a leading worldwide publisher of: software and peripherals for Nintendo, Sega, Sony, personal computer and CD-ROM hardware systems; and comic books under the Valiant, Armada and Windjammer imprints. Acclaim also develops coin-operated arcade games and operates blue screen and motion capture studios, as well as A.D.I., a global sales and distribution company for products from a variety of entertainment software publishers, including Acclaim, Digital Pictures, Domark, Interplay and Marvel. Acclaim, which recently formed a new company with Tele-Communications, Inc. for electronically distributed interactive entertainment, is publicly traded on the NASDAQ National Market System under the symbol AKLM.

CONTACT: FOR LAZER-TRON: FOR ACCLAIM:

Norman Petermeier (Financial):

510/460-0873 Anthony Williams

Dawn Berrie

(Media):

Allyne Mills

Dan Harnett

516/656-5000