MAJESCO ENTERTAINMENT AND DOUBLE FINE PRODUCTIONS ANNOUNCE RELEASE OF CRITICALLY ACCLAIMED ‘PSYCHONAUTS’: Gaming News

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MAJESCO ENTERTAINMENT AND DOUBLE FINE PRODUCTIONS ANNOUNCE RELEASE OF CRITICALLY ACCLAIMED ‘PSYCHONAUTS’

(Press Release)

Highly Acclaimed Video Game Ships for Xbox and PC

EDISON, N.J., April 19, 2005 – Playing mind games has become a reality as Majesco Entertainment Company (NASDAQ: COOL), an innovative provider of digital entertainment content and products, today announced that Psychonauts has shipped to retail stores nationwide. Developed by Double Fine Productions, Psychonauts is available for the Xbox® video game system from Microsoft and personal computer, and will be offered on the PlayStation 2® computer entertainment system later this spring.

“Psychonauts is executed with creative and technical brilliance, and feedback from media and retailers confirms that it is one of the most innovative video games ever introduced,” said Ken Gold, vice president of Marketing for Majesco. “Double Fine has done a tremendous job developing a game that takes consumers on a humorous ride ‘through the looking glass’ of the mind, and leaves them coming back for more.”

Tim Schafer, founder of Double Fine Productions, added: “As the adage goes, ‘great minds think alike,’ and we are happy to be working with a quality publisher like Majesco who shared our vision for Psychonauts. We’re excited to get the game into consumers’ hands and hope they enjoy playing it as much as we enjoyed creating it.”

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Created by Double Fine Productions, Inc., Psychonauts thrusts players into a third-person psychic odyssey across 13 incredibly unique levels: three set in the real world and ten set inside the mental worlds of misfits, monsters and madmen. Once inside a mind, players rise in rank by collecting figments of imagination; sorting through emotional baggage; clearing out mental cobwebs and cracking open memory

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vaults. Players also earn psychic powers like telekinesis, invisibility, pyrokinesis and clairvoyance as they progress through the game.

Featuring a humorous storyline filled with unforgettable characters and non-linear gameplay of incredible depth, Psychonauts offers players multiple paths throughout wildly imaginative settings. Along the way, players must conquer an array of challenging puzzles with alternate solutions that tailor themselves to a player’s own strengths and abilities.

Additional information on Psychonauts can be found online at the official website:
http://www.Psychonauts.com. To participate in the mind-bending Psycho-Portals online national promotion, visit www.psychoportals.com.

About Double Fine Productions, Inc.
Double Fine Productions is a San Francisco-based game company founded in 2000 by Tim Schafer, creator of many award-winning games including Grim Fandango, Full Throttle, and Day of the Tentacle. He started the company with a selection of the Grim Fandango team, and added to it industry veterans from the development teams of Maximo, Diablo II, Jedi Knight and Starfighter. Thrown into the mix were animators from Phil Tippett Studios and Pixar, and artists from the worlds of both video games and fine art. Since then, Double Fine has grown into a talented 40-person team dedicated to making amazing games with an emphasis on excellent story, characters, art, technology and fun.

About Majesco Entertainment
Headquartered in Edison, NJ, Majesco Entertainment Company (NASDAQ: COOL) is an innovative provider of digital entertainment content and products. The Company’s three main product lines include Games, which includes highly anticipated titles such as Advent Rising and Psychonauts; Videos, which highlights the Company’s platform-independent video compression technology; and Gadgets, which includes innovative digital entertainment products like Frogger TV Arcade. More information about the Company can be found online at www.majescoentertainment.com.