Take-Two Responds to Electronic Arts' Tender Offer

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Take-Two Interactive Software, Inc. Responds to Electronic Arts' Fourth Extension of Tender Offer

NEW YORK -- Jun. 17, 2008 Take-Two Interactive Software, Inc. (NASDAQ:TTWO) today responded to Electronic Arts Inc.'s (NASDAQ:ERTS) announcement that it is extending for a fourth time its unsolicited conditional tender offer to acquire all of Take-Two's outstanding shares.

As reported by EA, only 6,139,824 of Take-Two's outstanding shares, or approximately 7.9% of the total, tendered into EA's offer as of 5:00 p.m. Eastern time on June 16, 2008.

"The latest extension of EA's unsolicited, highly conditional tender offer does not alter the fact that their proposal still significantly undervalues Take-Two, a fact that is reflected in the overwhelming number of stockholders who still have not tendered their shares," said Strauss Zelnick, Chairman of the Board of Take-Two. "Our Board of Directors remains in unanimous agreement that the proposal is contrary to the best interests of Take-Two stockholders, and the Board continues to recommend that stockholders not tender their shares to EA. The Board remains focused on the strategic process that began formally on April 30 to consider all alternatives to maximize value. We believe that these alternatives, which may include a business combination or remaining independent, will deliver greater value to stockholders than the current EA offer."

Ben Feder, Chief Executive Officer, commented, "Take-Two's vast potential to create and enhance stockholder value has become even more evident in recent weeks, with the runaway success of Grand Theft Auto IV, a product pipeline that is one of the strongest and most creative in our history, and continued operational and financial progress. We believe that any alternative we consider must fully reflect the value we are creating and capture that value for the benefit of our stockholders."

For more information, please visit http://www.taketwovalue.com.

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(R)3 and PlayStation(R)2 computer entertainment systems, PSP(R) (PlayStation(R)Portable) system, Xbox 360(R) and Xbox(R) video game and entertainment systems from Microsoft, Wii(TM), Nintendo GameCube(TM), Nintendo DS(TM) and Game Boy(R) 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 http://www.take2games.com.