Press Release Details

Santa Monica, CA - December 12, 2002 - The action moves into high gear with the release of Activision, Inc.'s (Nasdaq: ATVI) Rally Fusion: Race of Champions. Based on the Michelin Race of Champions, which is held annually in the Canary Islands, the game lets players take on the top racers from the world of motorsport with the ultimate goal of becoming the "Champion of Champions." Developed by Climax, Rally Fusion: Race of Champions for the PlayStation2 computer entertainment system and Xbox™ video game system from Microsoft has been rated "E" (Everyone) by the ESRB and has a suggested retail price of $49.99.

"Rally Fusion: Race of Champions' pedal to the medal action is accessible for both the extreme racing fan as well as the casual thrill-seeker," said Larry Goldberg, executive vice president Activision Worldwide Studios. "With real-world cars, true driving physics, and a point system that rewards winning as well as creative driving, Rally Fusion: Race of Champions is sure to be a must-have title for gamers everywhere."

Rally Fusion: Race of Champions features nine different environments including authentic road, desert, mountain and arctic conditions for players to test their talent as they careen through hairpin turns on their way to the checkered flag. With incredibly detailed damage modeling and dirt effects, Rally Fusion: Race of Champions allows players to select their dream machine from 19 of the top makes and models in the sport. Additionally, nine different modes and 20 different tracks offer an incredibly diverse gameplay experience and near endless replayability for the player.

For additional information about the Michelin Race of Champions, please go to www.raceofchampions.com.

About Climax

Established in 1988, Climax has become one of the world's leading interactive software development companies. Over the last 12 years Climax has developed many successful computer and video games, delivering high quality game experiences in both its original products and conversions. Climax brings a wealth of development experience the partnership with Activision.

About IMP

IMP (International Media Productions) is a client focused sports management company based in Monaco. IMP specialize in Event Management and Marketing and Sports Celebrity Management. More information about IMP can be found on the company's World Wide Web site at www.imp.mc.

About Activision

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.

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