Burnout 2: Point of Impact - Developer's Cut for XBox(tm)

ACCLAIM ENTERTAINMENT, INC. RELEASES EXCLUSIVE
'BURNOUT 2: POINT OF IMPACT - DEVELOPER'S CUT' FOR XBOX(TM)

Award-Winning Arcade Racer Arrives on Xbox with All-New Content and Features

GLEN COVE, NY, May 1, 2003 - Building on the success of its award-winning arcade racing video game, Acclaim Entertainment, Inc. (NASDAQ.SC: AKLM), today shipped Burnout 2: Point of Impact - Developer's Cut(TM) exclusively for the XBOX(TM) video game system from Microsoft. Featuring exclusive content and bonus features, Burnout 2: Point of Impact - Developer's Cut(TM) includes 21 additional custom car skins, 15 additional crash junctions, a customizable soundtrack option, true 5.1 Dolby Digital surround sound support and an online worldwide leaderboard functionality via XBOX(TM) Live.

"Xbox owners have been looking forward to the release of Burnout 2: Point of Impact and we're thrilled to bring them this award-winning racing experience," said David Knies, Brand Director for Acclaim. "The Developer's Cut has the deepest set of features to date and will provide hours of unparalleled racing fun and crashes."

"We've crammed this version full of exclusive extra features and really concentrated on ensuring that Xbox gamers get a version that plays to the strengths of their machine," said Alex Ward, Creative Manager, Criterion Games. "We're confident in being able to provide Xbox gamers the fastest and most exhilarating racing experience available on the console."

Already garnering rave reviews, the press had the following to say about Burnout 2: Point of Impact - Developer's Cut:

"Burnout 2 is the fastest four-wheeled racer on Xbox. The speed is amazing and the crashes are
phenomenal. This game is &*#$ing awesome." - Editors' Choice Award Winner - IGN.com

"A unique and brilliant alternative to other racing games. The varying game modes offer a massive
amount of replay value and variety." - Editors' Choice Award Winner - Official Xbox Magazine

"For adrenaline junkies and wannabe masters of mass destruction,
Burnout 2 - Developer's Cut for Xbox delivers premium performance." - GamePro

"The crash mode alone makes this game worth seeing, and the inclusion
of the well-done championship and multiplayer modes makes it the
best pure arcade-style racing game available on the Xbox." - GameSpot.com

"Burnout 2: Point of Impact has everything under the hood you need
for a smashing good time: gorgeous graphics, smooth framerates,
and slo-mo car crashes on par with the best Hollywood has to offer." - GMR

"Unsurpassed detail, blistering speed, and depth to burn. The only game that
rewards you for being a maniac...a very skilled maniac." - Play

"Burnout 2: Point of Impact - Developer's Cut for the Xbox is one of
the best racing games we've played. We'd have a hard time recommending
a better arcade racer on the Xbox. Excellent!" - GameSpy.com

"Burnout 2 will thrill lead-footed gamers with its awesome
boost system and wicked sense of speed." - EGM

The winner of GameSpot and IGN's racing game of the year award for the previously released PlayStation(R)2 computer entertainment system version, Burnout 2: Point of Impact builds upon this strong speed-driven franchise with improved gameplay, new game options and bigger, better and more insane crashes. Players can test their nerves and skills by taking to the air, sliding through corners, and swerving to avoid head-on collisions, while filling their meter to unleash a burst of speed previously exclusive to airplanes.

Burnout 2: Point of Impact is infused with a wealth of new features and improvements, including:

• Offensive Driving 101, where players can "Learn to Burn" from the Burnout Driving School;
• All-new Pursuit races allow players to race a police car and ram opponents off the road;
• Developer's Cut includes 15 more crash junctions than previously released versions;
• Crashes are bigger, badder, and more heart-stopping than any seen before: vehicles deform and car parts fly across the highway;
• New Custom Series Mode lets players raced tuned-up vehicles with body kits and decals;
• 21 new custom car skins (Developer's Cut Exclusive);
• Progressive scan (480p) support;
• Realtime 5.1 Dolby Digital audio (Developer's Cut Exclusive);
• Ability to customise your very own soundtrack (Developer's Cut Exclusive);
• Online worldwide leaderboard via Xbox Live (Developer's Cut Exclusive);
• Six new US-themed locations, including Miami, Los Angeles, The Rocky Mountains, New Mexico and a busy international airport;
• Thirty new stages to drive with fourteen all-new vehicles;
• Seven secret vehicles to unlock including police cars, 1950's hotrods and stock cars;
• Realistic weather effects, such as snow, rain and fog;
• All-new points-based championship gameplay structure;
• Vehicles can get air and earn boosts by jumping;
• Intelligent traffic system, featuring three distinct types of driver behaviors;
• Increased polygon count on all vehicles, featuring more visual detail.

Burnout 2: Point of Impact - Developer's Cut is currently available for Xbox at a suggested retail price of $49.99. It is also available for the PlayStation®2 and the Nintendo GameCube(TM) at suggested retail prices of $49.99 and $39.99, respectively. For more information on Burnout 2: Point of Impact, please visit http://www.acclaim.com

About Xbox
Xbox is Microsoft's future-generation video game system that delivers the most powerful games experiences ever. Xbox empowers game artists by giving them the technology to fulfill their creative visions as never before, creating games that blur the lines between fantasy and reality. Xbox is now available in the continents of North America, Europe, Asia and Australia.

About Xbox Live
Xbox Live, which launched in the United States Nov. 15, 2002, allows gamers to play multiplayer Xbox games with other gamers everywhere via a broadband connection. With a built-in hard drive and Ethernet port, the Xbox console is the only video game system built from the ground up for online gaming, negating the need to buy additional, costly peripherals or upgrades. Xbox Live enables gamers to easily find their friends; talk to other players during game play through the Xbox Communicator headset; download current statistics, new levels and characters to their Xbox hard drive; and play online--all exclusive features to Xbox Live.

About Acclaim Entertainment
Based in Glen Cove, N.Y., Acclaim Entertainment, Inc., is a leading worldwide developer, publisher and mass marketer of software for use with interactive entertainment game consoles including those manufactured by Nintendo, Sony Computer Entertainment and Microsoft Corporation as well as personal computer hardware systems. Acclaim owns and operates five studios located in the United States and the United Kingdom, and publishes and distributes its software through its subsidiaries in North America, the United Kingdom, Germany, France and Spain. The Company uses regional distributors worldwide. Acclaim also distributes entertainment software for other publishers worldwide, publishes software gaming strategy guides and issues "special edition" comic magazines periodically. Acclaim's corporate headquarters are in Glen Cove, New York and Acclaim's common stock is publicly traded on NASDAQ.SC under the symbol AKLM. For more information please visit our website at www.acclaim.com.

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The statements contained in this release which are not historical facts, are "forward-looking statements." Acclaim cautions readers of this press release that a number of important factors could cause Acclaim's actual future results to differ materially from those expressed in any such forward- looking statements. These important factors, including, without limitation, the financial strength of the interactive entertainment industry, dependence on new product introductions and the ability to maintain the scheduling of such introductions, technological changes, dependence on major platform manufacturers and other factors that could affect Acclaim, are described in Acclaim's Annual Report on Form 10-K for the fiscal year ended August 31, 2002, and Acclaim's subsequent Quarterly Reports on Form 10-Q, all of which were filed with the United States Securities and Exchange Commission. Readers of this press release are referred to such filings.