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Activision Expands Alliance Through New Licensing Agreement With Marvel

Activision Granted Exclusive Rights to Develop and Publish Non-Persistent Role Playing Game for Console and PC Based on the Collective Universe of Marvel's Super Hero Characters

SANTA MONICA, Calif. and NEW YORK, July 29, 2005: Activision, Inc. (Nasdaq: ATVI) extends license with Marvel Enterprises (NYSE: MVL) to expand their long-term, broad-based strategic alliance through an additional license agreement for a non-persistent role playing game (RPG).

Under the terms of the deal Activision is granted the exclusive rights to develop and publish cross property non-persistent role playing games (RPG) that utilize a broad, "ensemble cast" of characters from the Marvel Universe. The agreement, expected to further strengthen Activision's leadership position in the Super Hero genre, covers both the console and PC arenas. The first game under the new agreement is expected to be released in fiscal 2007.

"We are proud of the success we have had with games based on the Marvel licenses," states Ron Doornink, Chairman, Activision Publishing, Inc. "This agreement further strengthens and helps to solidify our position as the number one publisher of Super Hero games."

Ames Kirshen, Vice President of Interactive at Marvel Enterprises said, "We have had tremendous success with Activision through the licensing of individual characters and groups such as Spider-Man, X-Men and Fantastic Four. Rather than focusing on just one character, this unique license enables Activision to develop role playing games that tap a broader base of characters from Marvel's expansive universe. We look forward to an even more successful future with Activision."

About Marvel Enterprises, Inc.

With a library of over 5,000 proprietary characters, Marvel Enterprises, Inc. is one of the world's most prominent character-based entertainment companies. Marvel's operations are focused in four areas: entertainment (Marvel Studios), licensing, publishing and toys. Marvel facilitates the creation of entertainment projects, including feature films, DVD/home video, video games and television based on its characters and also licenses its characters for use in a wide range of consumer products and services including apparel, toys, collectibles, snack foods and promotions. Marvel's characters and plot lines are created by its publishing division, which continues to expand its leadership position in the U.S. and worldwide while also serving as an invaluable source of intellectual property.

About Activision, Inc.

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 net revenues of $1.4 billion for the fiscal year ended March 31, 2005.

Activision maintains operations in the U.S., Canada, the United Kingdom, France, Germany, Italy, Japan, Australia, Scandinavia, Spain 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 made in this press release that are not historical facts are "forward-looking statements." These forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties. 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. Such factors include, without limitation, product delays, retail acceptance of our products, industry competition, rapid changes in technology and industry standards, protection of proprietary rights, maintenance of relationships with key personnel, vendors and third-party developers, international economic and political conditions, integration of recently acquired subsidiaries and identification of suitable future acquisition opportunities. These important factors and other factors that potentially could affect the Company's financial results are described in our filings with the Securities and Exchange Commission, including the Company's most recent Annual report on Form 10-K and Quarterly Report on Form 10-Q. Readers of this press release are referred to such filings. The Company may change its intention, belief or expectation, at any time and without notice, based upon any changes in such factors, in the Company's assumptions or otherwise. The Company undertakes no obligation to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

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