| Press Release |
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Asam Ahmad Senior PR Manager, THQ asam@thq.com T: +44 1483 767656 F: +44 1483 770727 |
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Mary Nelson Garrett Investor Relations, THQ T: +1 818 871 5090 |
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CALABASAS HILLS, Calif., - March 21, 2000 - THQ Inc. (NASDAQ NMS: THQI) announced today that it has taken a minority investment interest in Japanese developer Yuke’s Co., Ltd. The deal includes an agreement for Yuke’s Co., Ltd. to create wrestling games for the PlayStation™ and PlayStation 2™ platforms exclusively in North America and Europe for THQ. Terms of the deal were not disclosed.
Yuke’s Co., Ltd. developed WWF SmackDown!™ for PlayStation, as well as the world-renowned “Toukon Retsuden” series for PlayStation. The Yuke’s Co., Ltd. web site is located at www.yukes.co.jp.
WWF SmackDown!, released March 1, was the #1 best-selling PlayStation video game title for the two-week period ending March 11, according to NPD’s TRSTS report. Electronic Gaming Monthly is touting WWF SmackDown! as the “ultimate wrestling title for the PlayStation.” Incite Video Gaming called it “revolutionary” and “…the next definitive wrestling game.”
“Yuke’s is one of the best developers of wrestling games in the world, as evidenced by the phenomenal success of WWF SmackDown! and Toukon Retsuden,” stated Brian Farrell, president and CEO, THQ. “Our long-term agreement and investment is highly strategic for both companies.”
“Our new relationship with THQ further solidifies our commitment to creating the best
wrestling games for the premier publisher of wrestling games,” said Yukinori Taniguchi, president, Yuke’s Co., Ltd.
THQ, in partnership with JAKKS Pacific, Inc. (NASDAQ NMS: JAKK), has a ten-year exclusive agreement with World Wrestling Federation Entertainment, Inc. (NASDAQ NMS: WWFE) to publish WWF games on all platforms. The first WWF branded video game, Wrestlemania® 2000™, released last fall for Nintendo 64, sold over one million units.
THQ Inc. develops, publishes and distributes interactive entertainment software worldwide for a variety of hardware platforms including PC CD-ROM, and those manufactured by Sega, Nintendo and Sony. The THQ web site is located at www.thq.com.
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This press release contains statements that are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations, estimates and projections about the Company's business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors including those described above and the following: changes in demand for the Company's products, product mix, the timing of customer orders and deliveries, the impact of competitive products and pricing and difficulties encountered in the integration of acquired businesses. In addition, such statements could be affected by growth rates and market conditions relating to the interactive software industry and general domestic and international economic conditions. Specific information concerning these and other such factors is contained in the Company's most recent report on Form 8-K, filed with the Securities Exchange Commission on November 13, 2000. A copy of this filing may be obtained by contacting the Company or the SEC. The forward-looking statements contained herein speak only as of the date on which they are made, and the Company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release.