Majesco Entertainment And Tiger Hill Entertainment Announce New Action/Horror Franchise: Demonik(TM)

Next-Generation Game Being Created by Award-Winning Developer Terminal Reality

EDISON, N.J., May 9, 2005 - Majesco Entertainment Company (NASDAQ: COOL), a provider of diversified products and content for digital entertainment platforms, and Tiger Hill Entertainment, an entertainment production company co-founded by acclaimed film director John Woo (Face/Off, MI:2) that produces both video games and feature films, today announced, Demonik - a next generation, third person action game franchise with acclaimed writer/director Clive Barker. The agreement furthers Majesco's expansion into developing new intellectual properties and underscores the Company's commitment to partner with Hollywood's top creative talent.

"Demonik represents the extraordinary collaboration of some of the finest creative talent working in Hollywood and video games today," said Ken Gold, vice president of Marketing for Majesco. "We're confident that this culmination of artists, storytellers, and developers will define the action/horror genre for the next-generation consoles."

Demonik is set to launch in 2006 on next generation consoles and is being developed simultaneously as a feature film by acclaimed filmmaker and writer Clive Barker. Barker is set to oversee the story, character designs, cinematics and voice talent for the game. Barker also has the option to write and direct the film.

Cliver Barker adds "Demonik will be an intense gaming experience. I'm having a lot of fun enriching the game's mythology and polishing the characters till they shine. And, of course, adding a little bit of Barker darkness. Demonik promises to be a game that you will play with clammy palms."

"Clive is known for creating great and horrific villains. In the game, you get to play the villain, and in the movie, you will be terrified by him," states Brad Foxhoven, president and co-founder of Tiger Hill Entertainment. Foxhoven further notes that there have also been discussions about a graphic novel and limited-edition statue to coincide with the game launch. No date has yet been set for the film.

Demonik is the latest game from award-winning developer Terminal Reality, creators of Majesco's hit BloodRayne series. Demonik is a detailed third-person action game that allows players to control the ultimate bad guy -- wreaking havoc with a variety of innovative and spectacular powers and abilities.

About Clive Barker:

Clive Barker is a modern mythmaker. He's an explorer of our darkest and most fantastical instincts and a visionary who has shaped our dreams and nightmares. Novelist, playwright, screenwriter, artist and director; he is a master at twisting the mundane into the extraordinary. He is the author of over twenty books, including such bestsellers as THE BOOKS OF BLOOD, WEAVEWORLD, IMAJICA, THE THIEF OF ALWAYS AND ABARAT I & II. He is also responsible for creating some of cinema's most terrifying monsters. As a screenwriter, director and film producer, he is credited with the HELLRAISER and CANDYMAN pictures, as well as NIGHTBREED, LORD OF ILLUSIONS and GODS AND MONSTERS. Currently, his production company, Seraphim Films, is in pre-production on THE MIDNIGHT MEAT TRAIN and THE PLAGUE through his Midnight Picture Show horror label. They are also in development on several projects, including THE THIEF OF ALWAYS, TORTURED SOULS, DAMNATION GAME, DREAD, WEAVEWORLD AND COLDHEART CANYON. Most recently, Mr. Barker and his company, Dogfish, have ventured into the gaming world with their hit, The Undying. Demonik will be their second videogame. Mr. Barker lives in Los Angeles with his husband and daughter.

About Tiger Hill:

Tiger Hill Entertainmentwas co-founded by acclaimed director John Woo, his producing partner Terence Chang, and industry executive Brad Foxhoven. The company is focused on the creation, development and production of original content for various facets of the entertainment industry, and more specifically video games and graphic novels with the intention of taking such concepts to film and television. The company has four games in production, and is currently developing the Nintendo franchise, Metroid, as a feature film. Tiger Hill is located in Santa Monica, California.

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 three product lines include Games, which includes highly anticipated titles such as Advent Rising and JAWS^TM Unleashed; Videos, which highlights the Company's platform-independent video compression technology; and Gadgets, which includes innovative digital entertainment products like Frogger^®TV Arcade. More information about the Company can be found online at www.majescoentertainment.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; timely development and release of our products; the ability to secure licenses to valuable entertainment properties on favorable terms; continued consumer acceptance of the gaming platforms on which our products operate and our products; competitive factors in the businesses in which we compete; fulfillment of orders preliminarily made by customers; the ability to attract and retain key personnel; 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.

All trademarks are properties of their respective owners.