Take-Two Interactive Software, Inc. Completes Acquisition of Jack of All Games, Inc

Business Wire, Sept 3, 1998

NEW YORK--(BUSINESS WIRE)--Sept. 3, 1998--

Sets Date for Releasing 3rd Quarter Results

Take-Two Interactive Software, Inc. (NASDAQ:TTWO, TTWOW) announced today that it completed its previously announced acquisition of Jack of All Games, Inc.

Separately, the Company announced that it plans to release results for the three and nine-month periods ended July 31, 1998 on September 5, 1998. In addition, the Company plans to release pro forma results giving effect to the acquisition of Jack of All Games, Inc. for the same periods as supplemental information as this time. The acquisition will be accounted for as a pooling of interests.

Take-Two Interactive Software, Inc. is an integrated global developer, marketer, distributor, and publisher of interactive entertainment software games for the PC, Macintosh, Sony PlayStation, Nintendo 64, Nintendo GameBoy and the Internet. Take-Two is headquartered in New York City, with publishing, marketing, sales and distribution offices in the United Kingdom, Germany, France, and Australia. The Company owns and operates the following development studios: Mission Studios, GearHead Entertainment, Tarantula and Alternative Reality Technologies. The Company's Alliance Inventory Management and Jack of All Games subsidiaries together are the leading domestic value added distributor of video game software in the United States. Bertelsmann, one of the world's largest media companies, has an 11% equity interest in Take-Two .

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Safe Harbor Statement under the Private Securities Reform Act of 1995: The statements contained herein which are not historical facts are forward-looking statements that involve risks and uncertainties including, but not limited to, risks associated with the Company's future growth and operating results, the ability of the Company to successfully integrate the business and personnel of newly acquired entities into its operations, credit risks, inventory obsolescence, technological change, competitive factors, and unfavorable general economic conditions. Actual results may vary significantly from such forward-looking statements. Take-Two undertakes no obligation to update and forward-looking statements in this press release.

CONTACT: Take-Two Interactive Software, Inc.

212/941-2988

Anthony Williams (Financial)

Jennifer Kolbe (Press)

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Investor Relations Services, Inc.

904/409-0200

Richard Fixaris