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MAJESCO SHIPS ACCLAIMED ‘PHANTOM DUST’ WITH INTENSE ACTION VIA XBOX LIVE FOR $19.99

(Press Release)

Popular Anime-Inspired Action/Strategy Debuts Exclusively Xbox

EDISON, N.J., March 15, 2005 – One of Japan’s most critically acclaimed games arrives stateside, as Majesco (NASDAQ: MJES), a provider of diversified offerings and content for digital entertainment platforms, today announced Phantom Dust has shipped to retail stores nationwide. Available exclusively for the Xbox® video game system from Microsoft, for a suggested retail price of $19.99, Phantom Dust features Xbox Live™ support, enabling players to compete, trade skills, and share statistics online.

“First introduced in Japan, Phantom Dust quickly became a hit for its unique combination of fast-paced action, striking graphics and competitive multi-player capabilities via Xbox Live,” said Ken Gold, Majesco’s vice president of Marketing. “This offering of a highly entertaining product at an attractive price-point appeals to both hardcore gaming fans as well as the casual, mass-market audience.”

In Phantom Dust, gamers assume the role of the “gifted one” trying to unlock the events of the recent apocalypse, causing the near-destruction of the human race. Players emerge from underground to find that the surface is covered with mysterious particles called Phantom Dust, and is inhabited by creatures which embody people’s worst nightmares. Players utilize supernatural skills to defeat opponents, and regain lost memories.

Phantom Dust highlights include:

* Earned a score of 34 out of 40 in Famitsu Magazine in Japan, and awarded the Silver Award from Electronic Gaming Monthly. 
* Compete in over 100 single-player missions and fast-paced, multi-player action via Xbox Live;
* Gain over 300 skills to blast and damage opponents, steal their skills, and neutralize their psychic abilities;
* Enable Live features to play in tournaments, check statistics on leader boards, trade, sell or ante skills and download new skills;

* Multiple online game modes including “Cooperative Multiplayer” and “Free for All” and utilize pre-built arsenals to immediately engage players;
* Earn points in Live battles and use them to buy new skills;
* Use psychic-skills on surrounding environments to cause more harm to opponents;
* Players interact with other characters and their surroundings to discover more about their world, their skills and themselves;
* Choose strategy based on environment, battle mode, personal style and your opponent’s abilities;

* Developed by Microsoft Game Studios, Japan

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Additional information on Phantom Dust can be found online at the official website: http://www.phantom-dust.com.

About Majesco
Headquartered in Edison, NJ, Majesco Holdings Inc. (NASDAQ: MJES) is a provider of diversified products and content for digital entertainment platforms. The Company’s three main product lines are Games, including highly anticipated titles Advent Rising and Psychonauts; Videos, which highlights the Company's platform-independent video compression technology; and Gadgets, which includes innovative digital entertainment products like the Wireless Messenger for Game Boy® Advance. More information about the Company can be found online at www.majescogames.com.