Take-Two Interactive Software, Inc. Announces Formation of 2K Games Publishing Label: Gaming News

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Take-Two Interactive Software, Inc.
Announces Formation of 2K Games Publishing Label

(Press Release)

New York, NY – January 25, 2005 – Take-Two Interactive Software, Inc. (NASDAQ: TTWO) announced today that it has established a new publishing label, 2K Games. 2K Games will publish a wide variety of both internally and externally developed console, PC and handheld products, including sports titles under the 2K Sports label. Numerous new products for the 2K Games label are expected to be announced in the coming months.

2K Games will incorporate Take-Two’s internally-owned development studios Visual Concepts, Kush Games, Indie Built, Venom Games, PopTop Software and Frog City Software, as well as the team at Take-Two Licensing.

Paul Eibeler, Take-Two’s President commented, “Consistent with our strategy to diversify Take-Two’s product portfolio, the team at 2K Games is rapidly building a sweeping lineup of high-profile licensed and proprietary titles for console, PC and handheld platforms, leveraging the exceptional successes and capabilities at Take-Two. From high-profile Hollywood licenses to PC-only titles to sports titles, 2K Games will be defined by exceptional games for all genres and platforms.”

Certain titles previously planned for release on Take-Two’s Global Star label will now be released under the 2K Games label.

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NEW YORK & TOKYO--(BUSINESS WIRE)--Jan. 25, 2005--Take-Two Interactive Software, Inc. (NASDAQ:TTWO - News) and SEGA Corporation and its affiliates announced today that Take-Two has purchased all of the outstanding capital stock of SEGA's California-based sports game development studio Visual Concepts Entertainment and its wholly-owned studio, Kush Games. Visual Concepts is the marketer and developer of the critically acclaimed 2K series of sports video games.

The purchase price was approximately $24 million in cash and includes the rights to all intellectual property associated with the sports titles, as well as rights to the 2K brand. The agreement also provides that Take-Two and SEGA will work together to bring sports titles developed by Visual Concepts to SEGA's arcade business. Additionally, Take-Two is negotiating an agreement with SEGA whereby SEGA will publish and distribute the 2K series of sports titles and certain other Take-Two games in Japan and other Asian territories.

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About Take-Two Interactive Software

Headquartered in New York City, Take-Two Interactive Software, Inc. is an integrated global developer, marketer, distributor and publisher of interactive entertainment software games and accessories for the PC, PlayStation® game console, PlayStation®2 computer entertainment system, PSP™ handheld entertainment system, Xbox®, Nintendo GameCube(TM) and Game Boy® Advance. The Company publishes and develops products

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through its wholly owned labels Rockstar Games, 2K Games and Global Star Software; and distributes products in North America through its Jack of All Games subsidiary. Take-Two also manufactures and markets video game accessories in Europe, North America and the Asia Pacific region through its Joytech subsidiary. The Company maintains sales and marketing offices in Cincinnati, New York, Toronto, London, Paris, Munich, Madrid, Vienna, Milan, Sydney, Breda (Netherlands) and Auckland. Take-Two's common stock is publicly traded on NASDAQ under the symbol TTWO. For more corporate and product information please visit our website at www.take2games.com.