Activision Value Publishing, Inc. Set to Distribute Microsoft Games Studio's New Line of Bicycle Products.

Business Editors

MINNEAPOLIS--(BUSINESS WIRE)--Oct. 7, 2003

Activision Value Publishing, Inc., a wholly-owned subsidiary of Activision, Inc. (Nasdaq: ATVI), has been selected by Microsoft Games Studio to be the exclusive distributor of Microsoft's new line up of Bicycle products including the all new Bicycle Card Games, Bicycle Board Games and Bicycle Casino Games for the PC CD-ROM.

Under the terms of the agreement, Activision Value will republish and distribute boxed versions of the highly anticipated Bicycle line of products to be released October 2003.

"Bicycle is a rich brand that has been a part of American history since 1885 and we are delighted to have the opportunity to team up with Microsoft and Bicycle on these PC games," said Dave Oxford, General Manager for Activision Value Publishing, Inc. "Activision Value's dedication to providing customers with great games coupled with Microsoft Game Studios exceptionally high quality content should result in great gains for both companies."

"Activision Value's widespread distribution allows us to continue bringing Bicycle products to our customers," said Ed Ventura, business development director, Microsoft Game Studios. "They are an ideal partner for expanding Microsoft Game Studios-licensed IP to a broad consumer market."

About Microsoft Game Studios

Microsoft Game Studios is a leading worldwide publisher and developer of games for Windows, Xbox(R) video game system and online platforms. Comprising a network of top developers, Microsoft Game Studios is committed to creating innovative and diverse games for Windows (http://www.microsoft.com/games/), including such franchises as Age of Empires(R), Flight Simulator and Zoo Tycoon(R); Xbox (http://www.xbox.com/), including such franchises as Halo(R), Project Gotham Racing(R) and NFL Fever; and Zone.com (http://www.zone.com/), the official games channel for the MSN(R) network and home to such hits as Bejeweled and OutSmart(TM).

About Activision Value

Headquartered in Minneapolis, MN, Activision Value Publishing, Inc., a division of Activision, Inc. (Nasdaq: ATVI), is a wholly owned subsidiary of Activision Publishing, Inc. The company specializes in developing interactive entertainment software for the PC systems and all other video game platforms worldwide. For more information about Activision Value Publishing, visit the company's Web site at www.activisionvalue.com or 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, 2003, which was filed with the United States Securities and Exchange Commission. Readers of this press release are referred to such filings.