June 2^nd, 2003 (12:00am) - Acclaim Entertainment, Inc., today announced that it has appointed Rodney Cousens as its new Chief Executive Officer. Cousens, who had been serving as the organization’s Global President and Chief Operating Officer, succeeds Acclaim’s co-founder, Gregory Fischbach, who has resigned the CEO position that he held since the Company’s inception in 1987. Fischbach will continue with the organization as Co-Chairman and member of its Board of Directors.

"We are entering a new era for this organization and I am very pleased to have Rod appointed as my successor," said Gregory Fischbach, Co-Founder and Co-Chairman for Acclaim. "Given his impact on our organization since the beginning of this calendar year, I am confident that he will continue to utilize his industry knowledge and leadership skills to benefit the organization."

"During the last five months, I have driven the process for our organization to adopt and implement a new global operating plan that is heavily focused on improving our core business practices, including reducing operating expenses, realigning our brand-driven product development strategy and managing our position at retail," added Rod Cousens, Chief Executive Officer for Acclaim. "While this is an ongoing process, I believe that we have completed the foundation-building first phase that has set the stage for how we will conduct our business on a daily basis going forward. I will continue to strengthen our management team with leaders that are dedicated to this new structure, who possess the singular end-goal of facilitating our future growth and returning the organization to profitability."