(EMAILWIRE.COM, February 15, 2001 ) NEW YORK -- Take-Two Interactive Software, Inc. (Nasdaq: TTWO) announced today that it has begun development of several software titles for the Xbox(TM) video game console from Microsoft(TM) (Nasdaq: MSFT), due out in the fall of 2001. Titles in development for Xbox include Grand Theft Auto 3, the much anticipated sequel based on the Grand Theft Auto franchise, and 4X4 EVO 2, an off-road driving adventure game featuring fully-licensed sports utility vehicles.

Take-Two's library of content includes the Midnight Club: Street Racing, Smuggler's Run, Austin Powers, Oni and Duke Nukem brands. Take-Two publishes its titles under the Rockstar Games, Gathering of Developers and Take-Two labels.

Paul Eibeler, President of Take-Two, said, "We are very excited about the prospects for Xbox, and the opportunity to publish titles designed to demonstrate the unique features of this future-generation gaming console."

Robbie Bach, Chief Xbox Officer, states, "Take-Two has quickly established itself as a premier publisher, and we are very excited about its commitment to Xbox. The addition of Take-Two and its properties to the Xbox product lineup is an added bonus to hardcore gamers. Paul Eibeler and his team at Take-Two have provided valuable input to us as we've developed the Xbox program, and it is great to have them onboard."

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, Nintendo 64, Nintendo Game Boy Color, Sega Dreamcast and the PlayStation(R)2. The Company publishes and develops products through various wholly owned subsidiaries including: Rockstar Games, Gathering of Developers, TalonSoft, Joytech, DMA Design, PopTop and under the Take-Two brand name. The Company's Jack of All Games value added distribution arm maintains sales and marketing offices in Cincinnati, New York, Toronto, London, Paris, Munich, Oslo, Vienna,
Stockholm, Copenhagen, Milan and Sydney.

About Xbox

Xbox (http://www.xbox.com/) is Microsoft's future-generation video game console that delivers new and unforeseen gameplay experiences. With more than three times the graphics performance of the newest generation of game consoles, Xbox unleashes game designers' creativity to produce games that are challenging, exhilarating, surprising, and fun.

Safe Harbor Statement under the Private Securities Reform Act of 1995: The statements contained herein 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 words "expect," "anticipate," "believe," "may," "estimate," "intend" and similar expressions are intended to identify such forward looking statements. Forward looking statements involve risks, uncertainties and assumptions including, but not limited to: risks associated with our future growth and operating results; our ability to continue to successfully manage growth and integrate the operations of acquired
businesses; the availability of adequate financing to fund periodic cash flow shortages; credit risks; seasonal factors; inventory obsolescence; technological change; competitive factors; product returns; failure of retailers to sell-through our products; the timing of the introduction and availability of new hardware platforms; market and industry factors adversely affecting the carrying value of our assets; and unfavorable general economic conditions, any or all of which could have a material adverse effect on our business, operating results and financial condition. Actual operating results may vary significantly from such forward looking statements. The Company has no obligation to update such forward looking statements.
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CONTACT: Take-Two Interactive Software, Inc.
Dawn Berrie, 212/334-6633 (financial)
Jeff Castaneda, 212/334-6633 (media)
or
Wolfe Axelrod Weinberger Assoc. LLC
Stephen D. Axelrod, 212/370-4500 (CFA)
Donald C. Weinberger, 212/370-4500
Denise Ford, 212/370-4500 (media)
don@wolfeaxelrod.com

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