Press Release Details

Santa Monica, CA - February 21, 2003 - Activision, Inc. (Nasdaq: ATVI) marks a new era in the historical strategy genre with the announcement of Empires: Dawn of the Modern World from acclaimed designer Rick Goodman and Stainless Steel Studios. A real-time strategy game of epic scope and breadth, Empires: Dawn of the Modern World lets players command legendary civilizations as they battle to forge mighty empires during the days of longbows and charging knights to the awesome land, air and sea battles of WWII involving Tiger Tanks, Storm Troopers, Spitfires, and stealthy submarines. Empires: Dawn of the Modern World has not yet been rated by the ESRB.

"Empires: Dawn of the Modern World spans more than 1000 years of history and offers players an unequaled mix of unique units, special abilities and epic combat," said Larry Goldberg, executive vice president of Activision Worldwide Studios. "Fighting by air, land and sea, players will have their strategic skills put to the test as they attempt to conquer enemy civilizations in one of the most realistic and deep gaming experiences of all time."

Empires: Dawn of the Modern World is unmatched in its depth and attention to historical detail. "It's like no other historical RTS game that's ever been done before," said Lead Designer and Stainless Steel Studios' President, Rick Goodman. "Players will be able to build up massive empires by utilizing each civilization's totally unique and distinct historical abilities, battlefield weapons and special technologies. The differentiation between these historically-based civilizations is really unprecedented."

Stainless Steel Studios, Inc., founded by Rick Goodman in 1997 and based in Cambridge, Massachusetts previously developed the award-winning title, Empire Earth™, which was released in November 2001. Prior to founding SSSI, Rick was the co-founder of Ensemble Studios and lead designer for Microsoft's award-winning Age of Empires®.

Headquartered in Santa Monica, California, Activision, Inc. is a leading worldwide developer, publisher and distributor of interactive entertainment and leisure products. Founded in 1979, Activision posted revenues of $786 million for the fiscal year ended March 31, 2002.

Activision maintains operations in the U.S., Canada, the United Kingdom, France, Germany, Japan, Australia, Scandinavia and the Netherlands. More information about Activision and its products can be found on the company's World Wide Web site, which is located at www.activision.com.

The statements contained in this release that are not historical facts are "forward-looking statements." The Company cautions readers of this press release that a number of important factors could cause Activision's actual future results to differ materially from those expressed in any such forward-looking statements. These important factors, and other factors that could affect Activision, are described in Activision's Annual Report on Form 10-K for the fiscal year ended March 31, 2002, which was filed with the United States Securities and Exchange Commission. Readers of this press release are referred to such filings.