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ACCLAIM ENTERTAINMENT, INC. STRIKES EXCLUSIVE AGREEMENT WITH ARCHANGEL STUDIOS TO CREATE VIDEO GAMES BASED ON 'THE RED STAR'

Company's Austin Studio to Bring Award-Winning, Computer-Generated Comic to Next-Generation Systems, Featuring Epic Battles of Science Fiction and Sorcery

GLEN COVE, NY, June 10, 2003 � Expanding its diverse portfolio of licensed entertainment properties, Acclaim Entertainment, Inc., today announced that it has signed an exclusive agreement with Archangel Studios to develop video games based upon its award-winning, computer-generated comic series, The Red Star. Currently under development with Acclaim Studios Austin for the next-generation gaming systems, The Red Star takes place in a parallel fantasy universe, in which a mythic empire based on the Soviet Union sets the landscape for an epic battle of militarized sorcery and monolithic technology.

"The Red Star is an incredible futuristic allegory, that utilizes a very distinct artistic style to bring its characters and stories to life," said Barry Jafrato, Senior Vice President of Studios for Acclaim. "We're thrilled to be working with Archangel Studios and are eagerly looking forward to immersing gamers throughout the world in the compelling universe of The Red Star."

About The Red Star
Over the course of several generations, the once mighty empire known as The United Republics of The Red Star (U.R.R.S.) slaughtered millions of its own people by the order of a single man. This man was their leader, Imbohl; a mighty sorcerer whose insanity turned his people's Utopian dreams into a nightmarish scheme driven by the desire to forge his own immortality. Haunted by the ghosts of their nation's tragic past, the Heroes of the Red Star, at the battle of Kar Dathra's Gate, discover the true nature of their people's struggle, abandon their duties as soldiers of the Red Fleet, and embark upon a quest to liberate their people from Imbohl's dark legacy.

The Red Star was inspired by the writings and works of one of the twentieth century's most influential group of artists, the Soviet Avant Garde. The series, which was nominated for five Eisner Awards in its first two years of publication, combines computer animation and digital painting, with the art of Christian Gossett, who was voted one of the top artists in the United States by Wizard Magazine.

The Red Star will be available in 2004 across the next-generation systems at suggested retail prices to be determined. For more information on this game, please visit www.acclaim.com.