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MAJESCO AND STARBREEZE ANNOUNCE DEVELOPMENT DEAL

Creators of ‘The Chronicles of Riddick™: Escape From Butcher’s Bay’ to Develop New Majesco Game for Next Generation of Console Systems

EDISON, N.J., November 2, 2004 - Majesco (OTC BB: MJSH), a provider of diversified offerings and content for digital entertainment platforms , today announced it has tabbed Swedish developer, Starbreeze, to develop content for the next generation of console systems expected to ship in 2006. Starbreeze is highly regarded and has received numerous accolades from leading industry media outlets for producing the award-winning video game, The Chronicles of Riddick: Escape From Butcher's Bay, exclusively for the Xbox ® video game system from Microsoft.

"Having access to top-tier development talent and technology is paramount for long-term success," said Jesse Sutton, president of Majesco. "Our partnership with Starbreeze underscores our commitment in securing talented and creative studios to develop our products as well as assist us in providing content for current and future platforms."

Adds Johan Kristiansson, chief executive officer for Starbreeze, "Majesco has a fine reputation in the development community for partnering with its developers to assemble a single, cohesive team dedicated to producing quality products. We are excited to be working with them on creating content for the next generation of video game systems."

More information about Majesco and its entire lineup of products can be found online at www.majescogames.com.

About Majesco

Majesco Holdings Inc. (OTC BB: MJSH) , operating through its wholly owned subsidiary, Majesco Sales Inc., is a provider of diversified applications and content for digital entertainment platforms. The Company's 2004 lineup includes BloodRayne 2, the sequel to its popular action/horror series, and its Game Boy ® Advance Video product line which utilizes the Company's proprietary video compression technology to enable consumers to view commercial-grade video on a standard Nintendo Game Boy Advance system. Advent Rising, the first in a trilogy of action/adventure games, is expected to ship to stores in 2005. More information about the Company can be found online at www.majescogames.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.

"The Chronicles of Riddick: Escape from Butcher Bay" interactive game ® 2004 Vivendi Universal Games, Inc. All Rights Reserved. "Chronicles of Riddick" TM & ® Universal Studios. Licensed by Universal Studios Licensing LLLP. All Rights Reserved. Vivendi Universal Games and the Vivendi Universal Games logo are trademarks of Vivendi Universal Games, Inc.

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