Majesco Entertainment and DreamWorks Enter Worldwide Agreement to License 'Shrek,' 'Shrek 2' and 'Shark Tale' for Game Boy(R) Advance Video

Majesco Entertainment and DreamWorks Enter Worldwide Agreement to License 'Shrek,' 'Shrek 2' and 'Shark Tale' for Game Boy(R) Advance Video

Beloved Animated Movies Join Successful Game Boy Advance Video Category to Deliver the Next Wave in Portable Entertainment

EDISON, N.J., July 25 /PRNewswire-FirstCall/ -- Majesco Entertainment Company (NASDAQ:COOL), an innovative provider of digital entertainment products and content, today announced a worldwide licensing agreement with DreamWorks SKG to publish Game Boy(R) Advance Video versions of the studio's successful animated movies, "Shrek," the first-ever winner of the Academy Award(R) for Best Animated Feature, "Shrek 2," the third highest-grossing movie ever* and the number one animated film of all time** and the Academy Award(R)-nominated "Shark Tale."

These titles have an enormous combined box office total of more than $1.8 billion worldwide, and mark the first full-length feature films to be released by Majesco as part of its Game Boy Advance Video line, which has sold approximately 3 million units since first introduced in 2004. The company's proprietary video compression technology will enable fans to view these modern-day animated classics in full video and audio using a standard Game Boy Advance Video cartridge. Priced at $19.99, the "Shrek," "Shrek 2" and "Shark Tale" Game Boy(R) Advance Video titles will debut at retail in October 2005.

Under terms of the three-year deal, Majesco will exclusively distribute videos of DreamWorks' "Shrek," "Shrek 2" and "Shark Tale" for use on the Game Boy Advance, Game Boy Advance SP, Nintendo DS and the upcoming Game Boy Micro.

"Majesco is delighted to bring these great DreamWorks films to the massive worldwide Game Boy audience of more than 66 million consumers," said Jesse Sutton, President of Majesco. "These films have entertained people of all ages on multiple formats and we hope to continue that same success with our Game Boy Advance Videos."

"DreamWorks Home Entertainment is excited to be partnering with Majesco," said Kelley Avery, head of worldwide home entertainment at DreamWorks. "Through this new technology, kids can now access the great 'Shrek' movies and 'Shark Tale' wherever they go. This is all part of our commitment to find compelling partnerships and expand our audience reach."

"Nintendo is thrilled to have these great titles for Game Boy Advance," says Reggie Fils-Aime, Executive Vice President Sales and Marketing, Nintendo of America Inc. "Majesco's ability to offer consumers full-length movies pushes the functionality of Nintendo's handhelds to a whole new level."

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(R) TV Arcade. More information about the Company can be found online at www.majescoentertainment.com.

About DreamWorks Animation SKG

DreamWorks Animation SKG (NYSE:DWA) is devoted to producing high-quality family entertainment through the use of computer-generated (CG) animation. Utilizing world-class creative talent and state-of-the-art technological capabilities, the company is committed to making two computer-animated feature films a year that appeal to a broad movie-going audience.

About DreamWorks SKG

DreamWorks SKG was formed in October 1994 by its three principal partners -- Steven Spielberg, Jeffrey Katzenberg and David Geffen. The studio is actively involved in the production of live-action motion pictures and network and cable television programs, and the distribution of animated feature films, as well as home video entertainment.

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 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.

Source: Majesco Entertainment Company

CONTACT: Laura Heeb, HighWater Group, +1-212-338-0077, Ext. 307, laura@highwatergroup.com, for Majesco Entertainment Company

Web site: http://www.majescoentertainment.com/

------- Profile: Ent