Launch of Burnout 2: Point of Impact for PS2

ACCLAIM ENTERTAINMENT, INC. GETS FAST AND FURIOUS WITH LAUNCH OF 'BURNOUT(TM) 2: POINT OF IMPACT' FOR PLAYSTATION®2 COMPUTER ENTERTAINMENT SYSTEM

Sequel to Million Unit-Selling Franchise Returns to Critical Acclaim With The Most Heart-Stopping Crashes In Entertainment

GLEN COVE, NY, October 3, 2002 - Returning to the streets with the most adrenaline-filled, high-performance arcade-style driving game of the season, Acclaim Entertainment, Inc. (NASDAQ: AKLM) today announced that it has shipped Burnout(TM) 2: Point of Impact for the PlayStation®2 computer entertainment system. Created by Criterion Games Limited, Burnout 2: Point of Impact is the award-winning sequel to the million unit-selling street racing brand that set the standard for driving realism and incredibly realistic crashes.

"Burnout 2: Point of Impact sets an exciting new benchmark in the category and delivers the most heart-stopping street driving and car-crashing experience of any medium, including movies and television," said Tom Bass, Senior Brand Manager. "With faster cars, stunning graphics and incredible replay value, Burnout 2: Point of Impact will take gamers on the ride of their lives."

Burnout 2: Point of Impact has been receiving high-praise and awards among the media:

"For those of you that were fans of the first Burnout, you are going to be blown away by the improvements in the sequel. For arcade racing fans, it just doesn't get any better than this."
- 98% Platinum Award - PSE2

"...standout quality that screams at you from the shelf - now you have another one to keep you up late nights, Burnout 2. Arcade racing bliss! If you want the sheer thrill of speed and the intensity of the best car crashes on the planet, go get yourself a copy." - 9/10 Editors' Choice Award IGN.com

"One of the most thrilling, visually amazing, and downright fun arcade racers ever. One of the best sequels the racing genre has seen in a long time" - 9/10 Must-Buy Silver Award - PSM

"Burnout 2 offers an amazing sense of speed and some of the most dramatic crashes seen in a racing game to date. It's a must-own for fans of arcade racing." - GameSpot

"Burnout 2 is pure arcade racing at its best." - 91% Silicon Magazine

"Some of the best arcade racing available. Bigger, longer, and more intense smash-ups. Burnout 2 surpasses its predecessor in almost every department." - GamePro

"The racing game for crazy people is as fast and furious as ever this year." - 4/5 Play

Several American films inspired Burnout 2: Point of Impact, including "The Fast And The Furious," "Bad Boys" and "Speed." In addition, Burnout 2: Point of Impact offers a broad array of features such as:

• All-new pursuit races allow players to race a police car and ram opponents off the road.
• Crashes are bigger, badder, and more heart-stopping than ever before - vehicles deform and car parts fly across the highway!
• Advanced lighting effects such as Bloom Lighting, which highlights reflections off of windshields and metal exactly as they would in real-life.
• Offensive Driving 101, where you can "Learn to Burn" from the Burnout Driving School.
• New Custom Series Mode that allows you to race modified vehicles, complete with body kits and decals.
• Progressive scan and Dolby Pro-Logic II support.
• Six new United States 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.
• Upgraded graphics engine, driven by Criterion's Renderware software.

Burnout 2 Point of Impact is currently available for the PlayStation®2 computer entertainment system at a suggested retail price of $49.99. For more information on this game, please visit http://www.acclaim.com.

Criterion Software and Criterion Games Background Information
Founded in 1993, Criterion Software is a rapidly expanding organization, which currently employs over 180 people in its software technology and game development divisions. The company is headquartered in Guildford UK, and has offices in Tokyo, Austin, Paris and Derby. Criterion Games is an established studio that develops hit video games for a worldwide audience. In 2001 Criterion developed 2 major titles for PlayStation 2, Burnout(TM) published by Acclaim Entertainment and Airblade(TM) published by Sony Computer Entertainment Europe and Namco Hometek. The company is currently working on a number of as yet undisclosed new games for 2003 and beyond. Further information on Criterion Games can be found at http://www.criteriongames.com.

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 six studios located in the United States and the United Kingdom which includes a motion capture and recording studio in the U.S., and publishes and distributes its software through its subsidiaries in North America, the United Kingdom, Germany, France, Spain and Australia. The Company uses regional distributors in Japan and the Pacific Rim. Acclaim also distributes entertainment software for other publishers worldwide, publishes software gaming strategy guides and issues "special edition" comic magazines from time to time to support its time valued brands, Turok and Shadow Man. 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 http://www.acclaim.com.

"PlayStation" and the "PS" Family logo are registered trademarks of Sony Computer Entertainment Inc.
Burnout is a registered trademark of Criterion Software Limited.

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, 2001, 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.