Saitek Aviator Flight Stick

San Diego, January 7, 2009

Mad Catz® Interactive, Inc. (“Mad Catz” or “the Company”) (AMEX/TSX: MCZ), a leading third-party interactive entertainment accessory provider, announced today the expansion of the Aviator line of flight sticks to include two new models - the Saitek™ Aviator Flight Stick for Xbox 360® and the Saitek Aviator Flight Stick for PLAYSTATION®3.

A highly advanced combat joystick designed to enhance any flight simulation experience, the Aviator Flight Stick has been designed with an oversized flat base for increased stability and features three dedicated Fire Buttons, heavy-duty Combat Trigger and POV (point-of-view) Analog Stick as well as an innovative Throttle Lever positioned to suit ambidextrous gamers. A two position Mode Switch allows for on the fly changes to button configuration providing ideal controls for selected software such as the Blazing Angels™ series. The Flight Sticks have been fully tested to work with the new Ubisoft® combat flight simulator Tom Clancy’s: HAWX™. Furthermore both Xbox 360 and PLAYSTATION 3 models are fully PC compatible.

The Aviator Flight Stick for Xbox 360 includes an integrated Xbox Live™ Headset Connector for real time communication with other players. In addition, the Aviator Flight Stick for Xbox 360 features an Xbox Guide Button, displaying player and Xbox Live notifications. The Flight Stick is manufactured under license by Microsoft® and is fully compliant with Xbox 360 Flight Stick Sub-Type.

The Aviator Flight Stick for PLAYSTATION 3 shares identical specifications to the Xbox 360 model, differing only via the integrated Home Button which gives instant access to the PLAYSTATION 3 Cross Media Bar.

Darren Richardson, President and Chief Executive Officer of Mad Catz commented, “The new Aviator Flight Sticks for Xbox 360 and PLAYSTATION 3 manages to combine Saitek’s PC Flight Stick heritage with Mad Catz’ next generation console expertise. The Flight Sticks expand our portfolio of specialty controllers enabling us to reach new consumer demographics. We believe the Aviator will prove itself to be the ideal controller for gamers requiring an authentic and highly accurate experience when playing flight simulation titles.”

Tom Yu, Brand Manager for Tom Clancy’s: HAWX at Ubisoft® added further insight, commenting “The Aviator Flight Sticks provide gamers with levels of accuracy and control that gamepad users can only dream of.”

The Saitek Aviator Flight Stick for Xbox 360 (model: PS41) is expected to ship across North America this month with an MSRP of $49.99.

The Saitek Aviator Flight Stick for PLAYSTATION 3 (model: PS40) is expected to ship across North America this month with an MSRP of $49.99.

For further information please contact:

Media

Alex Verrey: Global PR & Communications Manager - t. +44 (0) 1908 336 538

e. averrey@madcatz.com

Michael Greco: Vice President of Marketing – t. +1-619-321-3564

e. mgreco@madcatz.com

Investors

Joseph Jaffoni, David Jacoby - Jaffoni & Collins Incorporated - t. 212/835-8500

e. mcz@jcir.com

About Mad Catz Interactive, Inc.

Mad Catz is a global leader in providing innovative peripherals for the interactive entertainment industry. Mad Catz designs and markets accessories for videogame systems and publishes videogame software, including the industry-leading GameShark videogame enhancements, under its Mad Catz, GameShark and Joytech brands. Mad Catz also designs and markets mice, keyboards, headsets, PC gaming controllers and other PC peripherals through its Saitek brand, and designs, manufactures and markets proprietary portable earphones under its AirDrives brand. Mad Catz distributes its products through most of the leading retailers offering interactive entertainment products and has offices across Canada, Europe and Asia. For additional information please go to www.madcatz.com, as well as www.gameshark.com, www.airdrives.com, www.saitek.com and www.joytech.net.

Safe Harbor for Forward Looking Statements: This press release contains forward-looking statements about the Company's business prospects that involve substantial risks and uncertainties. The Company assumes no obligation to update the forward-looking statements contained in this press release as a result of new information or future events or developments. You can identify these statements by the fact that they use words such as "anticipate," "estimate," "expect," "project," "intend," "should," "plan," "goal," "believe," and other words and terms of similar meaning in connection with any discussion of future operating or financial performance. Among the factors that could cause actual results to differ materially are the following: the ability to maintain or renew the Company's licenses; competitive developments affecting the Company's current products; first party price reductions; the ability to successfully market both new and existing products domestically and internationally; difficulties or delays in manufacturing; or a downturn in the market or industry. A further list and description of these risks, uncertainties and other matters can be found in the Company's reports filed with the Securities and Exchange Commission and the Canadian Securities Administrators.