Majesco Ent. Announces ‘Alvin and The Chipmunks: The Squeakquel’

Majesco Entertainment Announces ‘Alvin and The Chipmunks: The
Squeakquel’ Video Game for Wii(TM) and Nintendo DS(TM)

In Association With The Highly-Anticipated Theatrical Release From
Twentieth Century Fox, The World’s Smallest And Most Mischievous
Musical Trio Comes To Console And Handheld This Holiday Season

Press Release

Source: Majesco Entertainment Company

PRNewswire-FirstCall
Monday, August 3, 2009

EDISON, N.J., Aug. 3 /PRNewswire-FirstCall/ — Majesco Entertainment
Company (Nasdaq: COOL – News), an innovative provider of video games
for the mass market, Twentieth Century Fox Licensing & Merchandising
(Fox Licensing) and Bagdasarian Productions, today announced Alvin and
The Chipmunks: The Squeakquel for Wii and Nintendo DS. Featuring
everyone’s favorite musical group — Alvin and The Chipmunks and their
girl group rivals The Chipettes making their video game debut — this
rhythm action game challenges players’ timing and musical skills as
they perform in a variety of concert locations. Developed by
ImaginEngine, Alvin and The Chipmunks: The Squeakquel launches this
December in advance of Twentieth Century Fox’s theatrical release of
the same name that opens on Christmas Day.

"The first Alvin and The Chipmunks film was a box office hit that
earned more than $360 million worldwide," said Jesse Sutton, Chief
Executive Officer, Majesco. "As a family movie event, the holiday
sequel is positioned for similar success and we are excited to offer
those fans the ability to interact with The Chipmunks and The
Chipettes in a whole new way."

"For all those people who loved Alvin, Simon and Theodore in the first
film, there’s even more to love now with the introduction of The
Chipettes," said Gary Rosenfeld, Senior Vice President of New Media
Licensing for Fox Licensing. "Majesco has done a great job translating
the characters and music into a fun game that the whole family can
enjoy together."

"Janice and I wanted to make sure the game captured The Chipmunk and
Chipette personality and we recorded nearly 500 di
ialog for the game," said Ross Bagdasarian, CEO of Bagdasarian
Productions.

In Alvin and The Chipmunks: The Squeakquel, players can play as Alvin
and The Chipmunks (Alvin, Simon, Theodore) or The Chipettes (Brittany,
Jeanette, Eleanor). Musical sparks ignite as they jet around the
world, rock the house in 25 concert locations on Wii and 11 in the
Nintendo DS version, and perform together in the ultimate concert
finale. Featuring songs from the Grammy and American Music
Award-winning Alvin and The Chipmunks library, the game lets players
use the Wii Remote and Nunchuk or Nintendo DS stylus to keep the
rhythm in the main game and in three mini-games. Players will gain
thousands of fans by keeping the band on tempo through songs that grow
more challenging and complex.

Offering hours of replayability and family fun, Alvin and The
Chipmunks: The Squeakquel provides gamers the freedom to redo their
performance in any of the venues with the associated music tracks that
feature The Chipmunks, The Chipettes, or a duet with both
bands.. After beating the game in Normal Mode or breaking six
attendance records, Expert Mode will be unlocked offering an even
higher level of difficulty. In addition, Jukebox Mode lets players
enjoy their favorite unlocked songs while watching music videos, and
Multiplayer Party Mode lets them play with up to two friends on Wii or
up to three friends on Nintendo DS.

After finishing as one of the most successful family films of 2007 and
scooping up the Nickelodeon Kids’ Choice® Award-Winner for "Favorite
Movie" — Alvin and The Chipmunks is officially back at the top of the
charts. The extended Alvin and The Chipmunks merchandising program is
bolstered by the extraordinary success of the DVD release that sold
over 2.6 million units in its first 24 hours of availability and the
original motion picture soundtrack Alvin and The Chipmunks (Razor &
Tie/FOX Music), which has spent 55 weeks on the Billboard Top 200
album chart peaking at #5. The soundtrack has been certified platinum
and recently won
bum — Soundtrack category. Alvin and The Chipmunks released a follow
up album, UNDENIABLE, in November 2008.

The 2007 theatrical release of Alvin and The Chipmunks raked in more
than $360 million in worldwide box office receipts, earning $45
million in its opening weekend alone. The DVD garnered huge success
with over 12 million units sold to date to become the #1 selling
family DVD of the year. Its success followed a legacy of hits for the
brand including 6 Grammy® Awards, 18 Grammy® Nominations, 14 Gold and
Platinum albums and 5 Emmy® Nominations. The brand currently boasts
95% awareness with moms with kids 2-11, 94% awareness with men 18-49
and 96% awareness with women 18-49.

All licensing agreements and future product introductions are made
possible through collaboration between Fox L&M and Ross Bagdasarian,
Jr. — son of the Alvin and The Chipmunks creator — and his wife and
partner, Janice Karman, who are the creative team behind The Chipmunks
as well as the voices for The Chipmunks and Chipettes the past 30
years and again for this game.

Alvin and The Chipmunks: The Squeakquel is expected to release this
December on Wii and Nintendo DS. For additional information about
Majesco’s exciting line of products, please visit:

About Majesco Entertainment Company

Majesco Entertainment Company is a provider of video games for the
mass market. Building on more than 20 years of operating history, the
company is focused on developing and publishing a wide range of casual
and family oriented video games on leading console and portable
systems. Product highlights include Cooking Mama(TM) and Cake Mania®2
for Nintendo DS(TM), and Cooking Mama World Kitchen and Jillian
Michaels’ Fitness Ultimatum 2009 for Wii(TM). The company’s shares are
traded on the Nasdaq Stock Market under the symbol: COOL. Majesco is
headquartered in Edison, NJ and has an international office in
Bristol, UK. More information about Majesco can be found online at
@Majesco is on twitter
jesco.

About Bagdasarian Productions

A leading producer of high quality, family-oriented programming,
Bagdasarian Productions, helmed by Ross Bagdasarian and Janice Karman,
is best known for its ownership of Alvin and The Chipmunks, The
Chipettes, and other related characters. Originally created in 1958,
The Chipmunks are now among the very few characters with a
multi-generational, international following.

About Twentieth Century FOX Licensing & Merchandising

A recognized industry leader, Twentieth Century FOX Licensing and
Merchandising licenses and markets properties worldwide on behalf of
Twentieth Century FOX Film Corporation, Twentieth Television and FOX
Broadcasting Company, as well as third party lines. The division is
aligned with Twentieth Century FOX Television, one of the top
suppliers of primetime entertainment programming to the broadcast
networks.

About ImaginEngine

ImaginEngine is a leading brand in the development of quality
children’s titles and value software. The studio is known for its
award-winning, commercially successful CD-ROMs, online, and casual
games. ImaginEngine specializes in creating entertaining tools and
experiences for kids and adults to enjoy and use to express themselves
in software and the online world. The studio has shipped over 155
titles across major learning platforms. ImaginEngine is a Foundation 9
Entertainment studio, and is located in Framingham, MA. For more
information please visit:

Safe Harbor

Certain statements contained herein are "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act of
1995, Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended. These
forward-looking statements may be identified by reference to a future
period(s) or by the use of forward-looking terminology, such as "may,"
"will," "intend," "should," "expect," "anticipate," "estimate" or
"continue" or the negatives thereof or other comparable terminology. T
esults could differ materially from those anticipated in such
forward-looking statements due to a variety of factors. These factors
include but are not limited to, the demand for our products; our
ability to complete and release our products in a timely fashion;
competitive factors in the businesses in which we compete; continued
consumer acceptance of our products and the gaming platforms on
which our products operate; fulfillment of orders preliminarily made
by customers; adverse changes in the securities markets and the
availability of and costs associated with sources of liquidity. The
Company does not undertake, and specifically disclaims any obligation,
to release publicly the results of any revisions that may be made to
any forward-looking statements to reflect the occurrence of
anticipated or unanticipated events or circumstances after the date of
such statements.

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