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JOYTECH North America Announces Licensing Agreement For Upcoming Xbox 360

JOYTECH to Offer Microsoft-endorsed Peripherals

NEW YORK, May 17, 2005 - JOYTECH North America, a wholly owned subsidiary of Take-Two Interactive Software, Inc. (NASDAQ: TTWO) and a leading designer/manufacturer of third-party video game peripherals, today announced that it has entered into a North American and European licensing agreement with Microsoft for the highly-anticipated Xbox 360TM video game and entertainment system from Microsoft.

This agreement will allow JOYTECH to design, manufacture and market licensed third-party peripherals for the Xbox 360 console in North America and Europe.

Coinciding with the launch of Xbox 360, JOYTECH will introduce a wide-range of Microsoft-endorsed peripherals bearing the Xbox license logo.

"This agreement will enable JOTYECH to have a line of Xbox 360 officially licensed accessories ready for gaming enthusiasts at launch," said Lee Guinchard, President, JOYTECH North America. "We are working closely with Microsoft to ensure full compatibility and complete consumer satisfaction. We are excited to be part of this very important launch and are committed to contributing to the product's success by providing high end peripherals that will enhance users' enjoyment of this exciting new game system."

The Xbox 360TM video game and entertainment system from Microsoft is expected to be released in North America and Europe later this year.

About Xbox 360

Xbox 360 is the next-generation video game and entertainment system that places gamers at the center of the experience. Available this holiday season in Europe, Japan and North America, Xbox 360 will ignite a new era of digital entertainment that is always connected, always personalized and always in high definition.

Xbox, Xbox 360, and Xbox Live are either registered trademarks or trademarks of Microsoft Corporation in the United States and/or other countries.

About JOYTECH North America

Headquartered in New York, JOYTECH North America, a wholly owned subsidiary of Take-Two Interactive Software, Inc., brings Europe's premier peripherals line to the U.S. All JOYTECH products are designed and built in-house, offering gamers high-quality products for all the gaming consoles, as well as PCs, at competitive prices. For further information on JOYTECH peripherals, please visit: www.joytech.net

About Take-Two Interactive Software

Headquartered in New York City, Take-Two Interactive Software, Inc. is an integrated global developer, marketer, distributor and publisher of interactive entertainment software games and accessories for the PC, PlayStation® game console, PlayStation®2 computer entertainment system, PSPTM handheld entertainment system, the Xbox® video game and entertainment system from Microsoft, the Xbox 360TM video game and entertainment system from Microsoft, the Nintendo GameCubeTM, Nintendo DSTM and Game Boy® Advance. The Company publishes and develops products through its wholly owned labels Rockstar Games, 2K Games and Global Star Software; and distributes products in North America through its Jack of All Games subsidiary. Take-Two also manufactures and markets video game accessories in Europe, North America and the Asia Pacific region through its Joytech subsidiary. The Company maintains sales and marketing offices in Cincinnati, New York, Toronto, London, Paris, Munich, Madrid, Vienna, Milan, Sydney, Breda (Netherlands) and Auckland. 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.

All trademarks and copyrights contained herein are the property of their respective holders.

Safe Harbor Statement under the Private Securities Reform Act of 1995: This press release contains 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 important factors are described in the Company's Form 10-Q for the quarter ended January 31, 2005 in the section entitled "Cautionary Statement and Risk Factors".

PR Contacts:

Penny Armstrong

Joytech North America

(646) 536-2879

Penny.Armstong@take2games.com

Nina Ronstadt

Kraves Ronstadt Public Relations

(619) 224-3186

Nina@kravesronstadtpr.com

Jim Ankner (Corporate Press/Investor Relations)

Take-Two Interactive Software, Inc.

(646) 536-3006

james.ankner@take2games.com

Safe Harbor Statement

Safe Harbor Statement under the Private Securities Reform Act of 1995: This press release contains 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 important factors are described in the Company's Form 10-Q for the quarter ended January 31, 2005 in the section entitled "Cautionary Statement and Risk Factors".

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