June 17^th, 2004 (12:00am) - In accordance with NASDAQ Marketplace Rule 4350, as amended, Take-Two Interactive Software, Inc. on April 14, 2004 granted employment inducement stock options to purchase an aggregate of 300,000 shares of its common stock to its President, Paul Eibeler.

While it is the Company’s practice to issue stock-based compensation under stockholder approved plans, on the grant date no shares remained available for issuance under the Company’s 2002 Stock Option Plan and, accordingly, the options granted to Mr. Eibeler were granted without stockholder approval pursuant to NASDAQ Marketplace Rule 4350(i)(1)(A)(iv). All of the options granted are non-qualified stock options with an exercise price of $31.92 per share, which is the fair market value of the Company’s common stock on the grant date. The options expire on April 14, 2009, subject to earlier termination in certain circumstances, and vest at the rate of 16.6% every six months, with the first installment vesting on October 14, 2004.