Press Release Details

Santa Monica, CA - March 26, 2003 -- Following a nationwide search of college campuses to find the most promising ninja-inspired short films, two students have been chosen as the winners of the Tenchu: Wrath of Heaven, "Reel Ninja Film Contest". Legendary film director John Woo and producer Terence Chang of Lion Rock Productions awarded Joshua Gorin from the University of Pennsylvania the $15,000 Grand Prize for his submission, "The Ninja Movie", a clever three-minute live action short set in a snowy cemetery.

The five runner-up entries were uploaded to www.tenchu.com, where more than 6,000 fans cast their votes for the First Prize Winner. By popular vote, "Wanna Woo", from Lee Cipolla of Florida State University, was awarded the $5,000 First Prize.

The Tenchu: Wrath of Heaven video game is currently available at stores nationwide for a suggested retail price of $49.99 and the game is rated "M" (Mature™ content suitable for persons 17 and older) by the ESRB.

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.