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.
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, PlayStationÃ‚Â® game console, PlayStationÃ‚Â®2 computer entertainment system, PSP? handheld entertainment system, XboxÃ‚Â®, Nintendo GameCubeTM and Game BoyÃ‚Â® Advance. The Company publishes and develops products 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.
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Safe Harbor Statement under the Private Securities Reform Act of 1995: This press release contains forward-looking statements made in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The statements contained herein which are not historical facts are considered forward-looking statements under federal securities laws. Such forward-looking statements are based on the beliefs of our management as well as assumptions made by and information currently available to them. The Company has no obligation to update such forward-looking statements. Actual results may vary significantly from these forward-looking statements based on a variety of factors. These important factors are described in the Company's Annual Report on Form 10-K for the fiscal year ended October 31, 2004 in the section entitled "Risk Factors".