Jesse Sutton, Chief Executive Officer of Majesco Entertainment, said, “We delivered an exceptional quarter across all financial metrics as we continued to execute our plan. Our performance was driven by our focus on the casual gaming market and the steps we have taken to improve our financial position and operating model over the past year. Further, we benefited from a strong domestic sales performance, driven by sales of our Cooking Mama games, which delivered a revenue increase of 47 percent versus the same period last year. In the quarter, total revenue increased 29 percent to $18.7 million compared to the same period in 2007, gross margins were 40.2 percent, and we reported net income of $2.7 million, or $0.10 per share, which includes a $0.8 million benefit from adjustments to warrants and our litigation accrual. This performance demonstrates the potential of our business model.

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“As with the launch of any online-enabled game, especially one as popular as Super Smash Bros. Brawl, everyone wants to play at once. This puts a strain on …
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SUPER SMASH BROS. BRAWL SMASHES NINTENDO SALES RECORDS

Wii Game Sells at a Rate of More than 120 per Minute

REDMOND, Wash., March 17, 2008 – After just one week on store shelves, Super Smash Bros.® Brawl for Wii has become the fastest-selling video game in Nintendo of America’s history. Since its launch on March 9, the feature-packed fighting action game has sold more than 1.4 million units in the United States, including more than 874,000 on March 9 alone. It has sold at a rate of more than 120 units per minute between launch and March 16.

“Super Smash Bros. Brawl has made the leap from video game to cultural phenomenon,” said Cammie Dunaway, Nintendo of America’s executive vice president of Sales & Marketing. “Game reviewers and the public alike praise its fun game play and extensive, inventive content.”

Super Smash Bros. Brawl features a nearly limitless variety of options for players. Dozens of classic Nintendo characters like Mario™ and Pikachu® are joined by industry icons like Sonic The Hedgehog™ and Metal Gear’s Solid Snake for all-out four-player battles. The endless customization keeps players coming back for more. The previous game in the series, Super Smash Bros.® Melee, became the best-selling Nintendo GameCube™ game of all time with more than 7 million copies sold worldwide, so it’s no surprise to see this latest installment racking up record numbers.

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