MAJESCO ENTERTAINMENT CONFIRMS SPRING RELEASE FOR NEW “GUILTY GEAR” HANDHELD TITLES

EDISON, N.J., January 26, 2006- Handheld gamers have two new reasons to fight as Majesco Entertainment Company (NASDAQ: COOL) today announced handheld installments of the popular Guilty Gear fighting series. Guilty Gear Dust Strikers for the Nintendo DS^TM and Guilty Gear Judgment for the PSP^TM (PlayStation^®Portable) system are due in early spring. Both games are being developed by ARC System Works.

"Widely praised as one of the leading 2D brawler franchises, the Guilty Gear series has a long history of offering gamers deep, character-driven game play," said Ken Gold, vice president of Marketing for Majesco. "These exciting new installments will provide hours of entertainment while offering two unique new game play experiences that fans can enjoy on the go."

Guilty Gear Dust Strikers for Nintendo DS features 21 historic Guilty Gear characters whose intertwining stories reveal all-new insights into each character's personality and past. Players battle on multiple levels across both DS screens, against the computer or up to four players via wireless networking. The game also features six modes of play including Arcade, Story and VS Battle plus seven unique touch screen mini games and a Robo Ky Factory where you can customize your fighting moves.

Guilty Gear Judgment for the PSP ^TM system offers gamers incredible value by combining two games on one UMD. The game includes the fast-paced arcade fighting of Guilty Gear X2 #Reload plus a brand new side scrolling experience in Guilty Gear Judgment. Guilty Gear Judgment features 20 Guilty Gear character favorites, including Sol Badguy, Potemkin, May, and Dizzy; 18 levels of 2D side-scrolling action; and special moves like Psych Burst, Dust Attack and Roman Cancel. In addition, both games within Guilty Gear Judgment offer wireless multi-player connectivity for up to two players.

About Majesco Entertainment Company

Headquartered in Edison, NJ, Majesco Entertainment Company (NASDAQ: COOL) is an innovative provider of digital entertainment products and content. The Company's diverse product lineup includes video games such as Infected ^TM for the PSP ^TM (PlayStation ^®Portable) system, Aeon Flux, ^TM and the forthcoming JAWS ^TM Unleashed, as well as digital entertainment products like Frogger ^® TV Arcade. Majesco now offers Game Boy ^® Advance Video versions of the beloved DreamWorks Animation movies Shrek, Shrek 2 and Shark Tale. More information about Majesco is found online at www.majescoentertainment.com.

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