Acclaim brings arcade racing action to XBox and Nintento GameCube with Burnout 2: Point of Impact

ACCLAIM ENTERTAINMENT, INC. BRINGS ARCADE RACING ACTION TO XBOX(TM) AND NINTENDO GAMECUBE(TM) WITH 'BURNOUT 2: POINT OF IMPACT'

Award-Winning Title Available On All Next-Gen Systems in Spring 2003

GLEN COVE, NY, January 29, 2003 - Driving into retail outlets nationwide this spring with the hottest racing game of the year, Acclaim Entertainment, Inc. (NASDAQ.SC: AKLM), today announced that its award-winning title, Burnout' 2: Point of Impact, will be available for both the XBOX(TM) video game system from Microsoft and Nintendo GameCube(TM). Developed by Criterion Games Limited, Burnout 2: Point of Impact was released in the fall of 2002 to critical acclaim on the PlayStation®2 computer entertainment system, and was voted the year's #1 racing video game by both IGN.com and GameSpot.com.

"Burnout 2 set the new standard for next-generation racing games in the video game industry and raised the bar of excellence in every way," said Evan Stein, Vice President of Marketing for Acclaim. "With exciting new features, incredible crashes and award-winning game play, Burnout 2 will be a 'must-have' racing experience for owners of Xbox and Nintendo GameCube."

"When we began development for Burnout 2, we focused on bringing the fastest and most exciting racing experience for the PlayStation 2, and we had no plans to develop the game for any other consoles," added Alex Ward, Creative Manager, Criterion Games. "We are a small but extremely talented team, who dedicated their time and energy on getting the absolute best out of the PlayStation 2. Since the release of the game, we were bowled over by the number of awards and fantastic reviews that Burnout 2 had received across the world. In addition, we were absolutely deluged with requests from the media and consumers alike to develop versions for Xbox and Nintendo Gamecube.

Given this overwhelming response, we're really excited to bring this gaming experience to owners of Xbox and Nintendo GameCube. We'll be putting all the resources and dedication of the Burnout team into making these the best driving games available for these systems and leverage the capabilities of each platform to deliver a gaming experience that is worthy of the Burnout name."

The sequel to Burnout, which was originally launched in November 2001 to universal acclaim from both media and consumers alike, Burnout 2: Point of Impact builds upon this strong speed-driven franchise with vastly improved game play, new game options and bigger, better and more insane crashes. Burnout 2: Point of Impact is infused with a wealth of new features and improvements, including bigger tracks, fully tuned-up custom motors, secret challenges, all-new modes of play, and an improved Burnout meter. 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 will be available for Xbox(TM) and Nintendo Gamecube(TM) in the spring at suggested retail prices to be determined. The game is currently available for the PlayStation®2 computer entertainment system at a suggested retail price of $39.99. For more information on Burnout 2: Point of Impact, 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 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 five 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 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 http://www.acclaim.com.

Nintendo GameCube and the Nintendo GameCube logo are trademarks of Nintendo. " 2001.
"PlayStation'' and the "PS" Family logo are registered trademarks of Sony Computer Entertainment Inc.

Xbox is a trademark of Microsoft Corporation in the United States and/or other countries.

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.