Alvin and The Chipmunks: The Squeakquel

EDISON, N.J., August 3rd, 2009 -Majesco Entertainment Company (NASDAQ: COOL), 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 videogame 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 different lines of dialog 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 an American Music Award for Favorite Album - 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: www.majescoentertainment.com.

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™ and Cake Mania®2 for Nintendo DS™, and Cooking Mama World Kitchen and Jillian Michaels' Fitness Ultimatum 2009 for Wii™. 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 www.majescoentertainment.com. @Majesco is on twitter or at www.twitter.com/majesco.

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: www.imaginengine.com.

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. The Company's actual results 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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Marisa Gross

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FOX Licensing & Merchandising

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