ACCLAIM REPORTS RECORD SECOND QUARTER RESULTS.

GLEN COVE, NY--(BUSINESS WIRE)--April 4, 1995--Acclaim Entertainment, Inc. (NASDAQ: AKLM) today reported revenues of $157 million and net income of $14 million for its second quarter ended February 28, 1995, as compared to $116 million in revenues and $11 million in net income for the second quarter ended February 28, 1994, an increase of 35 percent and 27 percent respectively. Earnings per share were $0.29 for the quarter as compared to $0.24 for the same period in the previous year. "Sales in our second quarter were highlighted by the launch of NBA Jam Tournament Edition as well as the shipment of Mortal Kombat II, our first PC CD-ROM title," said Robert Holmes, president of Acclaim. "While the existing 16-bit market shows evidence of softening as consumers anticipate the introduction of new gaming systems from Nintendo, Sega and Sony, we continue to strengthen the company through the development of new software titles and proprietary tools to address these emerging technologies, and the expansion of our resources through strategic acquisitions."

For the six months ended February 28, 1995, Acclaim reported revenues of $318 million, a 31 percent increase over the same period in the previous fiscal year. Net income for the six months was $29 million, resulting in earnings per share of $0.62 for the period.

During the quarter, Acclaim accomplished the following:

o Completed a stock swap with Tele-Communications, Inc., the nation's largest cable company, and entered into a joint venture for the creation of interactive entertainment software for electronic distribution. The new company is owned 65 percent by Acclaim; 35 percent by TCI. TCI also acquired 10 percent of Acclaim.

o Shipped 16 software titles domestically for leading video game systems, including NBA Jam Tournament Edition, currently the top-selling title on the market; NFL Quarterback Club, a strong holiday seller, and the company's first PC CD-ROM game, Mortal Kombat II;

o Strengthened Acclaim Comics subsidiary through signing of eight of the industry's top creators and acquisition of worldwide comic book rights to Magic: The Gathering, the multi-million selling card game;

o Boosted A.D.I., Acclaim Distribution Inc. through long-term service agreement with VIDCO International and broadened its software assortment in Europe via an exclusive agreement for sales and distribution of Domark's Sega and Nintendo software titles;

o Expanded Acclaim Studios with Motion Capture technology to be used in New Line Cinema's Mortal Kombat animated home video;

o Opened new worldwide corporate headquarters in Glen Cove, NY;

o Acquired Iguana Entertainment, a leading interactive entertainment software developer and designers of NBA Jam, NBA Jam Tournament Edition and NFL Quarterback Club;

o Obtained the rights to publish interactive software titles based on Marvel live-action movie and television properties;

o Entered into an agreement with Sony Computer Entertainment of America (SCEA) to publish software for SCEA's forthcoming CD-based PSX (formerly known as PlayStation) video game system;

o Obtained exclusive worldwide rights to the National Basketball Association's NBA Jam property for coin-operated arcade systems as well as all home video game platforms including PC CD-ROM, floppy disk and coin-operated arcade systems;

Acclaim Entertainment, Inc., with offices in Canada, France, Germany, Japan, Spain and the United Kingdom, is a leading worldwide publisher of: software and peripherals for Nintendo, Sega, Sony, personal computer and CD-ROM hardware systems; and comic books under the Valiant, Armada and Windjammer imprints. Acclaim also develops coin-operated arcade games, operates blue screen and motion capture studios as well as A.D.I., a global sales and distribution company for products from a variety of entertainment software publishers, including Acclaim, Digital Pictures and Marvel. Acclaim recently formed a new company with Tele-Communications, Inc. for electronic distribution of interactive entertainment and entered into a definitive agreement to acquire all outstanding shares of Lazer-Tron Corporation, a leading coin-op ticket redemption company. Acclaim is publicly traded on the NASDAQ National Market System under the symbol AKLM. -0-

               ACCLAIM ENTERTAINMENT, INC. AND SUBSIDIARIES
                  CONDENSED CONSOLIDATED BALANCE SHEETS
                     (in 000s, except per share data)

                                    February 28,      August 31,
                                       1995              1994
ASSETS
CURRENT ASSETS
Cash                                 $ 38,198         $ 34,676
Marketable securities                  66,962            1,926
Accounts receivable - net             140,354          164,794
Inventories                            22,790           15,295
Other current assets                   40,473           34,010
   TOTAL CURRENT ASSETS               308,777          250,701

Other assets                          117,278           85,177
   TOTAL ASSETS                      $426,055         $335,878

LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
Trade accounts payable                $28,984          $69,376
Short-term borrowings                   5,044            1,757
Other current liabilities               93,517           47,748
   TOTAL CURRENT LIABILITIES          127,545          118,881

Other long-term liabilities             1,710           41,754
   TOTAL LIABILITIES                  129,255          160,635

Minority Interest                       1,750              ---

STOCKHOLDERS' EQUITY
Common stock                              895              787
Additional paid in capital            154,463           69,246
Retained earnings                     135,796          106,571
Treasury stock                           (807)            (807)
Foreign currency
 translation adjustment                 1,699             (554)
Unrealized gain on
 marketable securities                  3,004              ---
   TOTAL STOCKHOLDERS' EQUITY         295,050          175,243
   TOTAL LIABILITIES AND
   STOCKHOLDERS' EQUITY              $426,055         $335,878

              ACCLAIM ENTERTAINMENT, INC. AND SUBSIDIARIES
            CONDENSED STATEMENTS OF CONSOLIDATED OPERATIONS
                     (in 000s, except per share data)

                             Three Months Ended    Six Months Ended
                                 February 28,        February 28,
                              1995      1994       1995      1994

NET REVENUES               $157,430   $115,531    $318,377  $242,891
COST OF REVENUES             71,039     51,167     146,592   107,285
GROSS PROFIT                 86,391     64,364     171,785   135,606

OPERATING EXPENSES
Selling, advertising, general and
administrative expenses      60,726     45,233     116,665    93,631
Operating interest            1,027        394       1,912     1,072
Depreciation and amortization 1,992        865       3,572     1,681
TOTAL OPERATING EXPENSES     63,745     46,492     122,149    96,384

EARNINGS FROM OPERATIONS     22,646     17,872      49,636    39,222

OTHER INCOME (EXPENSE)          535        266         289       (33)

EARNINGS BEFORE
INCOME TAXES                 23,181     18,138      49,925    39,189

PROVISION
FOR INCOME TAXES              9,600      7,500      20,700    16,215

NET EARNINGS                $13,581    $10,638     $29,225   $22,974

NET EARNINGS PER SHARE        $0.29      $0.24       $0.62     $0.51

WEIGHTED AVERAGE NUMBER OF
COMMON SHARES OUTSTANDING    47,450     45,100      47,450    45,100

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