Mad Catz Interactive, Inc. (“Mad Catz” or “the Company”) (AMEX/TSX: MCZ), a leading third-party interactive entertainment accessory provider, today announced financial results for the fourth quarter and fiscal year ended March 31, 2008.

Net sales for the fiscal year ended March 31, 2008 were $87.6 million, a 12.2% decrease from $99.7 million in fiscal 2007. Gross profit for the fiscal year increased 14.9% to $28.7 million from $25.0 million in the prior fiscal year. Gross profit margin for fiscal 2008 was 32.8% compared to 25.1% in fiscal 2007. Net income for the year ended March 31, 2008 was $3.2 million, or $0.06 per diluted share, compared to $3.7 million, or $0.07 per diluted share for the year ended March 31, 2007. EBITDA, a non-GAAP financial measure (defined as earnings before interest, taxes, depreciation and amortization), was $10.0 million in fiscal 2008 compared to EBITDA of $9.0 million in fiscal 2007. A reconciliation of EBITDA to the Company’s net income (loss) on a U.S. GAAP basis and the definition is included in the financial tables accompanying this release.

Net sales for the fourth quarter ended March 31, 2008 were $21.9 million, an increase of 13.2% from $19.3 million in the fourth quarter of fiscal 2007. Gross profit for the quarter increased 14.7% to $6.5 million, compared to $5.6 million in the same quarter of the prior year. Gross profit margin for the fiscal 2008 fourth quarter improved to 29.5% compared to 29.1% in the same quarter of the prior fiscal year. Net loss for the quarter ended March 31, 2008 was $0.8 million, or $0.02 per diluted share, compared to a net income of $0.7 million, or $0.01 per diluted share, in the fourth quarter of the prior fiscal year. EBITDA for the quarter ended March 31, 2008 was $0.7 million compared to EBITDA of $1.9 million for the quarter ended March 31, 2007.

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