Company Terminates Co-Development and Co-Publishing Agreement with TDK
Mediactive

Activision, Inc. announced that the company will work directly
with DreamWorks to develop and publish video games based on
DreamWorks’ upcoming animated theatrical “Shrek 2” feature
film. Activision has terminated its previously announced co-publishing and co-development
agreement with TDK Mediactive following Take-Two Interactive Software’s acquisition
of TDK. Additionally, TDK has assigned to Activision all of its rights related
to future “Shrek” films. Under the terms of the agreement with DreamWorks,
Activision will have the rights to develop and publish games for the console,
hand-held and PC platforms for “Shrek 2.”

“Activision and DreamWorks are working together to develop games based
on ‘Shrek 2′ and future ‘Shrek’ sequels,” stated Ron Doornink, CEO of Activision
Publishing, Inc. “We are extremely pleased with the working relationship
that we have developed over the past several months with DreamWorks and are
very excited to further expand our commitment with them.”

Activision also holds the exclusive interactive rights to publish games based
on DreamWorks’ three upcoming computer-animated feature films: “Shark Tale,”
“Madagascar,” and “Over the Hedge.”

About Activision
Headquartered in Santa Monica, California, Activision, Inc. is a leading worldwide
developer, publisher and distributor of interactive entertainment and leisure
products. Founded in 1979, Activision posted net revenues of $864 million for
the fiscal year ended March 31, 2003. Activision maintains operations in the
U.S., Canada, the United Kingdom, France, Germany, Italy, Japan, Australia,
Scandinavia and the Netherlands. More information about Activision and its products
can be found on the company’s World Wide Web site, which is located at www.activision.com.

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