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Majesco And Marvel To Offer Consumers The Ride Of A Lifetime With 'Ghost Rider' Video Game

EDISON, N.J., July 14, 2005 - Majesco Entertainment Company (NASDAQ: COOL ), an innovative provider of digital entertainment products and content , announced today that they are in active development on a video game based on Marvel's ever-popular cult Super Hero Ghost Rider. The game rises out of the licensing deal finalized earlier this year between Majesco and Marvel Enterprises, Inc. (NYSE: MVL) through which Majesco acquired the worldwide rights to publish video games based on the popular Marvel super hero for the PlayStation ®2 computer entertainment system, PSP TM (PlayStation ®Portable) and the Xbox ® video game system from Microsoft. Currently under development by Climax Group, Ghost Rider is scheduled to ship in summer 2006 in conjunction with Sony Pictures/Marvel Studios' cinematic release starring Nicolas Cage as the Ghost Rider.

"Given its unique mix of motorcycle combat, supernatural themes and popular Marvel characters, Ghost Rider is the perfect property to translate into a video game," said Jesse Sutton, president of Majesco. "The simultaneous release of our game and the feature film event will ensure that Ghost Rider is next summer's biggest Super Hero."

Adds Ames Kirshen, Marvel's Vice President of Interactive: "Ghost Rider is one of our flagship properties and we are excited to work with Majesco and Climax to deliver an authentic and truly unique Marvel game experience to gamers next year."

Ghost Rider sets the big screen on fire! Motorcycle stunt rider Johnny Blaze was born to ride! Desperate to save the life of his father, Johnny strikes a deal with the vile Mephistopheles for the most precious of commodities, his immortal soul. Mephistopheles keeps his promise, but in return, Johnny is forever destined to ride through the night, avenging evil as the Ghost Rider, never to be re-united with the love of his life.

Reflecting the stylized action of the Marvel comic series and Sony Pictures' upcoming film, Ghost Rider offers a unique game play combination that includes deep combo-based combat and fast-paced motorcycle action on the supernatural Hell Cycle. Penned by famed comic writers Garth Ennis and Jimmy Palmiotti, the game's high-octane storyline unleashes Ghost Rider on familiar villains from the comic universe.

First released into the spotlight in 1972, Marvel's Ghost Rider comic series has sold more than 45 million copies to date. A new limited series comic written by Garth Ennis and illustrated by Clayton Crain is due out in September 2005.

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About Majesco Entertainment Company

Headquartered in Edison, NJ, Majesco Entertainment Company (NASDAQ : COOL ) is an innovative provider of digital entertainment products and content. The Company's diverse product lineup includes forthcoming video games such as Aeon Flux TM and JAWS TM Unleashed, as well as videos for handheld systems via its platform-independent video compression technology; and digital entertainment products like Frogger ®TV Arcade. More information about the Company can be found online at www.majescoentertainment.com.

About Marvel Enterprises

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 Climax Group

Founded in 1988 by Karl Jeffery, Climax Group Inc. has grown to become the world's leading independent video game developer. At the cutting edge of the games industry, Climax develops technologically advanced and critically acclaimed interactive games software for all major console platforms. The company works with major worldwide publishers such as Microsoft, SCEA, Buena Vista Games and THQ to create such hit titles as ATV Offroad Fury 3, Sudeki and the Moto GP series on Xbox and PC. Climax has studios throughout the USA and Europe. Additional information on Climax is available at www.climaxgroup.com.

Safe Harbor

Certain statements contained herein are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements may be identified by reference to a future period(s) or by the use of forward-looking terminology, such as "may," "will," "intend," "should," "expect," "anticipate," "estimate" or "continue" or the negatives thereof or other comparable terminology. The Company's actual results could differ materially from those anticipated in such forward-looking statements due to a variety of factors. These factors include but are not limited to, the demand for our products; competitive factors in the businesses in which we compete; continued consumer acceptance of the gaming platforms on which our products operate and our products; fulfillment of orders preliminarily made by customers; adverse changes in the securities markets and the availability of and costs associated with sources of liquidity. The Company does not undertake, and specifically disclaims any obligation, to release publicly the results of any revisions that may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.

Ghost Rider and All Related Comic Book Characters: TM & ® 2005 Marvel Characters, Inc. All rights reserved.

Ghost Rider, Motion Picture Copyright 2005 Columbia Pictures Industries, Inc. All Rights Reserved.

Super Hero(es) is a co-owned registered trademark.

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