NEW YORK, Jul 21, 2008 (BUSINESS WIRE) -- Take-Two Interactive Software, Inc. (NASDAQ:TTWO) today responded
to Electronic Arts Inc.'s (NASDAQ:ERTS) announcement that it is
extending for a fifth time its unsolicited conditional tender offer to
acquire all of Take-Two's outstanding shares.

As reported by EA, only 11,741,339 of Take-Two's outstanding
shares, or approximately 15% of the total, tendered into EA's offer as
of 5:00 p.m. Eastern time on July 18, 2008.

Strauss Zelnick, Chairman of Take-Two, said, "Take-Two's Board
continues to be 100% committed to maximizing stockholder value and
remains unanimous in continuing to recommend that our stockholders not
tender their shares to EA. We are fully engaged in a formal process to
evaluate strategic alternatives that have the potential to deliver
greater value than EA's inadequate offer. As part of this process, we
continue to engage in meaningful discussions with multiple parties, a
number of whom have been conducting due diligence. We also remain
absolutely focused on executing on our strategic and business
objectives."

Ben Feder, Chief Executive Officer, added, "In February,
Take-Two's board rejected EA's offer as inadequate. Since then, the
record-shattering release of Grand Theft Auto IV, the exciting
announcement of a BioShock movie, and our ability to deliver financial
results exceeding expectations have further demonstrated that our
value-creation potential is greater than EA's offer. Take-Two is also
continuing to create significant value through the development of
world-class entertainment products, as well as improved operational
and financial performance. Our stockholders will be the beneficiaries
of these achievements, and it is management's mission to deliver the
greatest value possible for them."

For more information, please visit 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 www.take2games.com. All
trademarks and copyrights contained herein are the property of their
respective holders.

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 April 30, 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.

SOURCE: Take-Two Interactive Software, Inc.

Take-Two Interactive Software, Inc.
Meg Maise (Corporate Press/Investor Relations)
646-536-2932
meg.maise@take2games.com
or
Brunswick Group
Steve Lipin/Nina Devlin
212-333-3810
taketwo@brunswickgroup.com

Copyright Business Wire 2008