Majesco and GameTap Partner on New Digital Distribution Deal

EDISON, N.J. - Majesco Entertainment Company (NASDAQ: COOL), an innovative provider of video games and digital entertainment products for the mass market, announced today that several popular titles from its catalog, including Psychonauts, BloodRayne 1 & 2, and JAWS Unleashed are now available for subscription play and digital download on GameTap, the first-of-its-kind broadband entertainment network from Turner Broadcasting System, Inc. (TBS, Inc.). The new agreement includes that Majesco titles will also be made available on GameTap's recently launched ad-supported game play website.

"Given the limited shelf space and relatively quick turn of titles at retail nowadays, we consider GameTap to be a valuable vehicle that can help extend the video game lifecycle," said Ken Gold, vice president of Marketing, Majesco.

Along with the critically-acclaimed Psychonauts from Double Fine Productions that is currently available for subscription play and online purchase, BloodRayne 1 & 2 are also prominently featured as part of GameTap's 'Bloodsucker Summer,' an original content program that the 900+ game service utilizes to bring both newer and older titles from their massive library to the attention of their subscribers.

GameTap is also inviting fans to 'Hit the Beach' today by offering the best-selling JAWS Unleashed to their Gold Level members for the first time.

"Majesco's wide range of quality games are a great addition to our current product catalog," said Ricardo Sanchez, GameTap's vice president of content and creative director. "Psychonauts is consistently one of our top titles and we've had a great response to the recent launch of BloodRayne on our service."

Psychonauts is a unique, third-person psychic odyssey from the mind of Tim Schafer that received numerous accolades and awards, including the BAFTA (British Academy of Film and Television Arts) award for Best Screenplay.

JAWS Unleashed adapts the landmark film into a unique interactive experience that lets you play as one of Nature's most powerful and fearsome creatures, the Great White Shark.

BloodRayne is an original action-horror franchise starring the super-sexy, super-lethal, supernatural heroine Rayne.

About GameTap

GameTap (GameTap.com), a division of Turner Broadcasting System, Inc., is the leader in digital game distribution and broadband entertainment. Launched in 2005, GameTap delivers more than 900 authentic versions of the greatest console, computer and arcade games, including original and exclusive episodic titles such as Myst Online: Uru Live, Sam & Max: Season 1, Galactic Command - Echo Squad, and American McGee's Grimm. Visitors to GameTap.com can play free games on its ad-supported website, purchase top PC and catalog titles from its digital retail storefront, and tune into GameTap TV's original programming that includes Retrospective documentaries and new ReVisioned animated series. GameTap paid members receive unlimited access to its massive library titles, community and multiplayer features, original games, and content.

Turner Broadcasting System, Inc. (TBS, Inc.), a Time Warner company, is a major producer of news and entertainment products around the world and the leading provider of programming for the basic cable industry.

About Majesco Entertainment Company

Headquartered in Edison, NJ, with an international office based in Bristol, UK, Majesco Entertainment Company (NASDAQ: COOL) is an innovative provider of video games and digital entertainment products for the mass market, with a focus on publishing video games for leading portable systems and the Wii console. Product highlights include Nancy Drew, Cooking Mama and Zoo Hospital for the Nintendo DS and Cooking Mama: Cook Off for the Wii console. More information about Majesco can be found online at www.majescoentertainment.com.

Jaws is rated PG-13 (Parents Strongly Cautioned - Some Material May Be Inappropriate For Children Under 13). Please consult www.filmratings.com or www.parentalguide.org for more information.

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.

Contacts

HighWater Group

Laura Paul, 212-338-0077 x. 314

laura@highwatergroup.com

or

TBS, Inc. PR

Wendy Rutherford, 404-827-5097

wendy.rutherford@turner.com