November 22^nd, 2002 (12:00am) - Take-Two Interactive Software, Inc.
announced today that Jeffrey C. Lapin will become the
Company’s Chief Executive Officer effective January 2, 2003, and that
Mr. Lapin will join the Company’s Board of Directors effective
immediately. Mr. Lapin is an experienced interactive entertainment
industry executive and was previously Vice Chairman, Chief Operating
Officer and a Director of THQ, Inc.

Mr. Lapin joined THQ as Vice Chairman in 1999, was appointed Chief
Operating Officer in August 2000 and served as a Director since 1995.
Before joining THQ, Mr. Lapin was President of House of Blues
Hospitality. Prior to that time, Mr. Lapin held several senior
management positions, including President and Chief Executive Officer
of Starwood Lodging Trust (now Starwood Hotels & Resorts Worldwide), a
New York Stock Exchange listed company, and its various predecessor
companies. Mr. Lapin began his career as an attorney at Mitchell,
Silberberg & Knupp in Los Angeles. He holds a Bachelor’s degree in
Economics from the University of California, Los Angeles and a JD from
Loyola Law School. Mr. Lapin serves as a member of the Boards of
several charitable organizations.

Ryan Brant, Chairman, commented, "I am confident I speak for
everyone at Take-Two when I say that we are thrilled to begin the next
phase of our Company’s growth with Jeffrey Lapin at our helm. Jeff’s
industry and leadership experience is perfectly suited to taking
Take-Two to a new level during a very opportune time for both Take-Two
and our industry."
Paul Eibeler, President, added, "As we continue to build our
publishing brands and further expand our business, Jeff’s wealth of
product development, business development and licensing expertise will
bring additional strengths to what is already an established and
capable management team."

Jeffrey Lapin said, "I’m very pleased to have the opportunity to
lead Take-Two at such an exciting time. The Company’s Rockstar Games
division has established itself as a pioneering and innovative
publishing label with an impressive portfolio of proprietary
intellectual properties and extensive pipeline of products in
development. This combined with the continued growth potential of Take
Two’s Gathering of Developers and Gotham Games divisions, and its
well-established Jack of All Games distribution business, makes the
Company uniquely positioned to continue to thrive in the entertainment
software industry. I look forward to working with Take Two’s
management team to further the Company’s growth and success."
Also effective January 2, 2003, Take-Two’s current Chief Executive
Officer, Mr. Kelly Sumner, will become President of the Company’s
global PC publishing unit, Gathering of Developers, which includes the
Company’s Global Star value PC publishing business. Mr. Sumner, who
from 1997 to 2000 was President of the Company’s international
subsidiary, Take-Two Interactive Software Europe, Ltd., will lead
Gathering from the Company’s headquarters in New York.
Mr. Brant added, "Over the past two years Kelly has successfully
transitioned Take-Two from a small video game publishing and
distribution company to an industry leader with world-class products
and a solid financial position. Kelly’s appointment to head Gathering
of Developers represents our strategic commitment to have our PC
publishing business match the unparalleled performance of our console
business. In order to continue the impressive growth that Take-Two has
realized, it is essential that we have strong leadership behind each
of our four key operating units, our publishing divisions: Rockstar
Games; Gathering of Developers; and Gotham Games, and our distribution
business: Jack of All Games. Kelly’s vision, drive and wealth of
experience are perfectly suited to lead the further aggressive
expansion of Gathering of Developers."
Kelly Sumner, stated, "I would like to welcome Jeff to the Company
and look forward to working closely with him in my new role. Jeff
brings with him not only industry knowledge but also a vast amount of
senior management experience. During the past year we have
significantly strengthened our senior management team with the
addition of finance, creative, operations and information technology
executives, along with the expansion of our board of directors. I have
great confidence that we have a team in place that will continue to
maximize shareholder value."