Acclaim Entertainment, Inc. to Report First Quarter Results for Fiscal Year 2003 on January 13, 2003.

Entertainment Editors/High-Tech Writers

GLEN COVE, N.Y.--(BUSINESS WIRE)--Dec. 23, 2002

Company to Host Conference Call That Afternoon

Acclaim Entertainment, Inc. (NASDAQ.SC: AKLM) ("Acclaim"), a leading global video entertainment software developer and publisher, today announced that it will host a conference call to discuss its operating results for the first quarter of its 2003 fiscal year following the market close on Monday, January 13, 2003 at 5:00 PM Eastern Daylight Time.The conference call will be hosted by Gregory Fischbach, Co-Chairman and CEO, Edmond Sanctis, President and Chief Operating Officer of Acclaim North America, Rodney Cousens, President and Chief Operating Officer of Acclaim International and Gerard F. Agoglia, Executive Vice President and Chief Financial Officer.

Acclaim will release the operating results for the first quarter of its 2003 fiscal year, following the market close on Monday, January 13, 2003. This press release will be distributed via Business Wire and at http://www.acclaim.com. Individuals in the U.S. who want to listen to the conference call can dial [phone]. Overseas callers need to dial [phone]. All parties should dial in five to ten minutes prior to the scheduled teleconference time. A rebroadcast of the call will be available starting at 7:00 PM EDT on Monday, January 13, 2003, through 5:00 PM on Monday, January 20, 2003. The replay of the conference call can be accessed by dialing [phone], and when prompted, enter the PIN number 24607. Overseas callers should dial [phone] to hear the rebroadcast and use the same PIN number 24607.

Acclaim's conference call is being webcast by CCBN and can be accessed at Acclaim's web site at http://www.acclaim.com. In addition, it will be distributed over CCBN's Investor Distribution Network to both institutional and individual investors. Individual investors can listen to the call at www.companyboardroom.com or by visiting any of the investor sites in CCBN's Individual Investor Network such as America Online's Personal Finance Channel, Fidelity Investments(R) (Fidelity.com) and others. Institutional investors can access the call via CCBN's password protected event management site, StreetEvents (www.streetevents.com). To listen to the live call, please go to the web site at least 15 minutes before the scheduled time to register, and download and/or install any necessary audio software. A replay on the CCBN site will be available until Monday, January 20, 2003.

About Acclaim Entertainment

Based in Glen Cove, N.Y., Acclaim Entertainment, Inc., is a leading worldwide developer, publisher and mass marketer of software for use with interactive entertainment game consoles including those manufactured by Nintendo, Sony Computer Entertainment and Microsoft Corporation as well as personal computer hardware systems. Acclaim owns and operates six studios located in the United States and the United Kingdom which includes a motion capture and recording studio in the U.S., and publishes and distributes its software through its subsidiaries in North America, the United Kingdom, Germany, France and Spain. The Company uses regional distributors worldwide. Acclaim also distributes entertainment software for other publishers worldwide, publishes software gaming strategy guides and issues "special edition" comic magazines from time to time to support its time valued brands, Turok and Shadow Man. Acclaim's corporate headquarters are in Glen Cove, New York and Acclaim's common stock is publicly traded on NASDAQ.SC under the symbol AKLM. For more information please visit our website at www.acclaim.com.

The statements contained in this release which are not historical facts, are "forward-looking statements." Acclaim cautions readers of this press release that a number of important factors could cause Acclaim's actual future results to differ materially from those expressed in any such forward- looking statements. These important factors, including, without limitation, the financial strength of the interactive entertainment industry, dependence on new product introductions and the ability to maintain the scheduling of such introductions, technological changes, dependence on major platform manufacturers and other factors that could affect Acclaim, are described in Acclaim's Annual Report on Form 10-K for the fiscal year ended August 31, 2001, and Acclaim's subsequent Quarterly Reports on Form 10-Q, all of which were filed with the United States Securities and Exchange Commission. Readers of this press release are referred to such filings.