FOR IMMEDIATE RELEASE
New York, NY – July 10, 2008 – 2K Games, a publishing label of Take-Two Interactive Software, Inc. (NASDAQ: TTWO), announced today that it will be the North American and international publisher for Cryptic Studios’™ highly anticipated massively multiplayer online (MMO) action game, Champions Online™, being developed for the Xbox 360® video game and entertainment system from Microsoft* and Games for Windows®. Champions Online is scheduled for release in spring of 2009.
“2K Games is excited to work with such a talented group as Cryptic Studios,” said Christoph Hartmann, president of 2K. “Given their stellar pedigree and amazing grasp of the MMO genre, we are confident that Champions Online will deliver an innovative and exciting action MMO experience to gamers.”
Cryptic Studios, based in Los Gatos, CA and established in July 2000, is one of the leading independent developers of massively multiplayer online games for Windows PC and current generation systems. As an independent, employee-owned company, Cryptic is committed to delivering high quality, innovative cross platform MMO gameplay. Cryptic is best known as the creator of the award-winning City of Heroes® and City of Villains™ MMO titles. Based on the popular Champions™ pen-and-paper RPG, Champions Online will give players the power of total customization for their hero experience while they explore a vast comic book universe.
“2K Games is a terrific publishing partner for Champions Online,” said John Needham, CEO of Cryptic Studios. “Cryptic is proud that Champions Online will be 2K’s first MMO title and we look forward to working together towards a tremendous launch next year.”
Champions Online is not yet rated by the ESRB. For more information, log onto www.champions-online.com
*Champions Online for Xbox 360 is not yet concept approved by Microsoft
About Take-Two Interactive Software
Headquartered in New York City, Take-Two Interactive Software, Inc. is a global developer, marketer, distributor and publisher of interactive entertainment software games for the PC, PLAYSTATION®3 and PlayStation®2 computer entertainment systems, PSP® (PlayStation®Portable) system, Xbox 360® and Xbox® video game and entertainment systems from Microsoft, Wii™, Nintendo GameCube™, Nintendo DS™ and Game Boy® Advance. The Company publishes and develops products through its wholly owned labels Rockstar Games, 2K Games, 2K Sports and 2K Play; and distributes software, hardware and accessories in North America through its Jack of All Games subsidiary. Take-Two's common stock is publicly traded on NASDAQ under the symbol TTWO. For more corporate and product information please visit our website at www.take2games.com.
“Champions” and “Champions Online” are trademarks of Cryptic Studios, Inc.
Microsoft, Xbox, Xbox 360, Xbox LIVE, and the Xbox logos are trademarks of the Microsoft group o companies and are used under license from Microsoft.
All trademarks and copyrights contained herein are the property of their respective holders.
Important Legal Information
In connection with the tender offer commenced by Electronic Arts Inc., the Company has filed with the Securities Exchange Commission a Solicitation/Recommendation Statement on Schedule 14D-9. The Company's stockholders should read carefully the Solicitation/Recommendation Statement on Schedule 14D-9 (including any amendments or supplements thereto) prior to making any decisions with respect to Electronic Arts' tender offer because it contains important information. Free copies of the Solicitation/Recommendation Statement on Schedule 14D-9 and the related amendments or supplements thereto that the Company has filed with the SEC are available at the SEC's website at www.sec.gov. This communication does not constitute an offer to sell or invitation to purchase any securities or the solicitation of an offer to buy any securities, pursuant to Electronic Arts’ tender offer or otherwise.
This press release may contain forward-looking statements made in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The statements contained herein which are not historical facts are considered forward-looking statements under federal securities laws. Such forward-looking statements are based on the beliefs of our management as well as assumptions made by and information currently available to them. The Company has no obligation to update such forward-looking statements. Actual results may vary significantly from these forward-looking statements based on a variety of factors. These risks and uncertainties include the matters relating to the Special Committee's investigation of the Company's stock option grants and the restatement of our consolidated financial statements. The investigation and conclusions of the Special Committee may result in claims and proceedings relating to such matters, including previously disclosed shareholder and derivative litigation and actions by the Securities and Exchange Commission and/or other governmental agencies and negative tax or other implications for the Company resulting from any accounting adjustments or other factors. Further risks and uncertainties associated with Electronic Arts' tender offer to acquire the Company's outstanding shares are as follows: the risk that key employees may pursue other employment opportunities due to concerns as to their employment security with the Company; the risk that the acquisition proposal will make it more difficult for the Company to execute its strategic plan and pursue other strategic opportunities; the risk that the future trading price of our common stock is likely to be volatile and could be subject to wide price fluctuations; and the risk that stockholder litigation in connection with Electronic Arts' tender offer, or otherwise, may result in significant costs of defense, indemnification and liability. Other important factors are described in the Company's Annual Report on Form 10-K for the fiscal year ended October 31, 2007, in the section entitled "Risk Factors," as updated in the Company's Quarterly Report on Form 10-Q for the fiscal quarter ended April 30, 2008, in the section entitled "Risk Factors." All forward-looking statements are qualified by these cautionary statements and are made only as of the date they are made.