Activision, Inc. (Nasdaq: ATVI) announced today that the company has signed an exclusive, long-term agreement to publish games developed by Infinity Ward, a newly formed studio comprised of 22 of the individuals who developed the critically acclaimed PC title Medal of Honor Allied Assault, which was the #1 best-selling PC game in the United States for the January through March 2002 quarter, according to NPD Intelect. This partnership further solidifies Activision’s position as the leading publisher and distributor of first-person action games.

Activision also announced that it has made a 30% equity investment in Infinity Ward with an option to acquire the remaining 70%.

“We always want to collaborate with top development talent and deliver outstanding first-person action games to the marketplace,” said Larry Goldberg, executive vice president of Activision Worldwide Studios. “Our deal with Infinity Ward furthers this strategy and our equity position reinforces our intention to invest in high-quality entertainment software studios.”

The Infinity Ward announcement follows Activision’s recent acquisitions of Treyarch Inventions, LLC, Gray Matter Interactive Studios and Shaba Games, each of which has developed a title that has shipped more than one million units within the past nine months.

"We are ecstatic about our partnership with Activision," said Grant Collier, president of Infinity Ward, Inc. "With their support, we will continue to revolutionize the gaming experience and make the highest quality product."

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 revenues of $786 million for the fiscal year ended March 31, 2002.

Activision maintains operations in the U.S., Canada, the United Kingdom, France, Germany, Japan, Australia, 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.

The statements contained in this release that are not historical facts are “forward-looking statements.” The Company cautions readers of this press release that a number of important factors could cause Activision’s actual future results to differ materially from those expressed in any such forward-looking statements. These important factors, and other factors that could affect Activision, are described in Activision’s Annual Report on Form 10-K for the fiscal year ended March 31, 2002, which was filed with the United States Securities and Exchange Commission. Readers of this press release are referred to such filings.

Activision is a registered trademark of Activision, Inc. and its affiliates. All other trademarks and trade names are the property of their respective owners.

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