GT INTERACTIVE OBTAINS EXCLUSIVE OPTION TO ATARI GAMES CORPORATION LIBRARY FROM WMS INDUSTRIES; GT Interactive Secures Option to Publish Atari titles For PC Worldwide and Next-Generation Video Game Systems in Europe and Other Foreign Territories; Expands Existing Agreement to Include Japanese Territory

Business Wire, April 23, 1996

NEW YORK & CHICAGO--(BUSINESS WIRE)--April 23, 1996--Further strengthening their mutually successful relationship, GT Interactive Software Corp. (NASDAQ: GTIS) and WMS Industries, Inc. (NYSE:WMS) have entered into agreements whereby GT Interactive has obtained exclusive options to publish a variety of PC and 32- and 64-bit next-generation games system versions of Atari titles. Separately, GT Interactive and WMS also expanded the territories of their existing agreements whereby GT Interactive had secured options to PC versions of a variety of WMS' coin-operated video games and WMS' 32- and 64-bit products to include Japan. Financial terms of the agreements were not disclosed.

Under the agreements, GT Interactive expects to publish its first WMS-licensed Atari title later this year. Area 51, T-Mek and Return Fire are among the popular titles GT Interactive will option from WMS. GT Interactive also expects to create new versions of Atari classics for PC.

"We are pleased to strengthen and broaden our relationship with WMS Industries and bring to market both the Atari titles that have become interactive entertainment classics and future titles from the Atari development group," said Ron Chaimowitz, president and chief executive officer of GT Interactive. "We have experienced great success with the personal computer version of Mortal Kombat 3 and plan to unveil additional WMS-licensed titles at the upcoming E3 show. Add these to the new Atari titles, and we will now bring gamers worldwide an unsurpassed array of Williams titles."

Byron Cook, President of WMS' Williams Entertainment Inc. subsidiary added," Licensing our titles to GT has proven to be beneficial to both parties and we're delighted that we're able to add Atari products to the agreements."

WMS Industries acquired Atari Games Corporation from Time Warner Inc. late in March. Atari has been responsible for creating successful arcade and home video games such as Primal Rage, Pong, Asteroids, Centipede, Area 51 and Missile Command. Other WMS titles GT Interactive has published include Arcade Classics and Fun and Games. In addition, GT Interactive plans to debut several additional WMS software titles at the Electronic Entertainment Expo in Los Angeles next month.

WMS Industries Inc. is engaged in the design, manufacture and sale of coin-operated amusement games, home video games, video lottery terminals and gaming devices, and the ownership and operation of hotels and casinos. WMS is the leading U.S.company in the worldwide coin-op games industry.

Headquartered in New York, with offices in London and San Francisco, GT Interactive Software Corp. is a leading global publisher of interactive entertainment, edutainment and reference software for IBM-compatible and Macintosh computers as well as 32- and 64-bit gaming systems. Among GT Interactive's best-selling titles are DOOM II and Mortal Kombat 3. Located at www.gtinteractive.com on the World Wide Web, GT Interactive is publicly traded on the NASDAQ National Market System under the symbol GTIS.

CONTACT: Allyne Mills (media)

Dawn Berrie (investors)

GT INTERACTIVE

212/726-5600

amills@gtinteractive.com