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New York, NY – May 7, 2008 – Take-Two Interactive
Software, Inc. (NASDAQ: TTWO), said today that Grand Theft Auto IV has
surpassed all-time entertainment records for day one and week one sales
by dollar value. Released on Tuesday, April 29th, Grand Theft Auto IV,
the critically acclaimed video game, has sold through to consumers
approximately 6 million units globally with an estimated retail value of
more than $500 million in the first week. Grand Theft Auto IV sold
approximately 3.6 million units on its opening day with a retail value
of approximately $310 million globally.
"We knew Grand Theft Auto
IV would break new ground in terms of the player's experience, with its
compelling story line, extraordinary gameplay and action that ranges
over a broad urban canvas. Now, it has broken sales and rating records
as well. Grand Theft Auto IV's first week performance represents the
largest launch in the history of interactive entertainment, and we
believe these retail sales levels surpass any movie or music launch to
date. We congratulate the entire Rockstar team on creating a must-have
experience that takes the legendary Grand Theft Auto franchise to a new
level," said Strauss Zelnick, Chairman of Take-Two.
"Rockstar's
goal is to make each new title in the Grand Theft Auto franchise even
better than those that preceded it, and Grand Theft Auto IV is a
smashing success on that score. Grand Theft Auto IV makes full use of
the power of next generation technology, and offers players an
experience unique in the interactive entertainment medium. This game
sets a new standard in the industry, with critics hailing it as both an
artistic and technological masterpiece," said Ben Feder, Take-Two's
Chief Executive Officer.
Developed by series creator Rockstar
North, Grand Theft Auto IV for the Xbox 360® video game and
entertainment system from Microsoft and PLAYSTATION®3 computer
entertainment system is rated "M" for Mature. For more information, log
onto www.rockstargames.com/IV.
About Take-Two Interactive
Software
Headquartered in New York City, Take-Two Interactive
Software, Inc. is a global developer, marketer, distributor and
publisher of interactive entertainment software games for the PC,
PLAYSTATION®3 and PlayStation®2 computer entertainment systems, PSP®
(PlayStation®Portable) system, Xbox 360® and Xbox® video game and
entertainment systems from Microsoft, Wii™, Nintendo GameCube™, Nintendo
DS™ and Game Boy® Advance. The Company publishes and develops products
through its wholly owned labels Rockstar Games, 2K Games, 2K Sports and
2K Play, and distributes software, hardware and accessories in North
America through its Jack of All Games subsidiary. 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.
All trademarks and copyrights contained
herein are the property of their respective holders.
© 2008
Microsoft Corporation. All rights reserved. Microsoft, Xbox, Xbox 360,
Xbox LIVE and the Xbox logos are trademarks of the Microsoft group of
companies and are used under license from Microsoft.
"PlayStation,"
"PLAYSTATION," "PS" Family logo and "PSP" are registered trademarks of
Sony Computer Entertainment Inc. PSP® system – Memory Stick Duo™ may be
required (sold separately).
Important Legal Information
In
connection with the tender offer commenced by Electronic Arts Inc., the
Company has filed with the Securities Exchange Commission a
Solicitation/Recommendation Statement on Schedule 14D-9. The Company's
stockholders should read carefully the Solicitation/Recommendation
Statement on Schedule 14D-9 (including any amendments or supplements
thereto) prior to making any decisions with respect to Electronic Arts'
tender offer because it contains important information. Free copies of
the Solicitation/Recommendation Statement on Schedule 14D-9 and the
related amendments or supplements thereto that the Company has filed
with the SEC are available at the SEC's website at www.sec.gov. This
communication does not constitute an offer to sell or invitation to
purchase any securities or the solicitation of an offer to buy any
securities, pursuant to Electronic Arts' tender offer or otherwise.
This
press release may contain 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 risks and uncertainties include the matters relating to the
Special Committee's investigation of the Company's stock option grants
and the restatement of our consolidated financial statements. The
investigation and conclusions of the Special Committee may result in
claims and proceedings relating to such matters, including previously
disclosed shareholder and derivative litigation and actions by the
Securities and Exchange Commission and/or other governmental agencies
and negative tax or other implications for the Company resulting from
any accounting adjustments or other factors. Further risks and
uncertainties associated with Electronic Arts' tender offer to acquire
the Company's outstanding shares are as follows: the risk that key
employees may pursue other employment opportunities due to concerns as
to their employment security with the Company; the risk that the
acquisition proposal will make it more difficult for the Company to
execute its strategic plan and pursue other strategic opportunities; the
risk that the future trading price of our common stock is likely to be
volatile and could be subject to wide price fluctuations; and the risk
that stockholder litigation in connection with Electronic Arts' tender
offer, or otherwise, may result in significant costs of defense,
indemnification and liability. Other important factors are described in
the Company's Annual Report on Form 10-K for the fiscal year ended
October 31, 2007, in the section entitled "Risk Factors," as updated in
the Company's Quarterly Report on Form 10-Q for the fiscal quarter ended
January 31, 2008, in the section entitled "Risk Factors." All
forward-looking statements are qualified by these cautionary statements
and are made only as of the date they are made.
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