Majesco Entertainment Strengthens Its Board of Directors

Majesco Entertainment Strengthens Its Board of Directors

Company Appoints Four New Members to its Board

Majesco Entertainment Company (Nasdaq: COOL) today announced that it has strengthened its board of directors with the appointment of four new directors; Keith Harrison, Marc Mazur, Steven Weinstein and Stephen Wilson. The Company believes that these additions will enhance the overall effectiveness of the Company’s board and allow it to maintain sound corporate governance practices.

“I am delighted to welcome these four accomplished individuals to our board of directors,” said Morris Sutton, Chairman and Interim CEO. “We believe that the addition of these outstanding and seasoned business executives underscores the strength of our strategy and the positive direction of our business.”

Sutton continued, “These gentlemen have expertise from diverse backgrounds and industries that will provide valuable perspectives as Majesco continues to work towards growing its product portfolio and building its business. We look forward to their contributions as part of Majesco.”

Keith Harrison, has over 20 years of working with major retailers and manufacturers in the consumer products and interactive entertainment sectors. He is currently CEO of Compass Marketing Inc., an independent sales, marketing and custom products company working on behalf of manufacturers, factories and retailers. In addition to creating their own proprietary brands and products, Compass has worked with manufacturers such as Sony Playstation, Take 2 Interactive, Virgin Mobile, Seagate Consumer Products, Imation, 3M and Altech Lansing. Mr. Harrison founded the Company in 1985 and has grown it to almost a billion dollar enterprise.

Previously, Mr. Harrison was a regional manager for Proctor & Gamble and acted as an independent sales representative for Sharp and Atari. He earned a B.S. from Bethel College.

Marc Mazur, has over 20 years experience in risk management, business development and senior level sales and marketing. Mr. Mazur is currently a Senior Advisor to ThinkEquity Partners LLC, a research and investment banking firm based in San Francisco. In addition, he serves as a Senior Advisor to Tsinghua Venture Capital Company, the investment arm of Tsinghua University.

Previously, he was in charge of strategic business development at CareInsight/Medical Manager, now part of WebMD. Prior to that, he was an officer and head of the Eurobond business at Goldman Sachs and held senior positions at other Wall Street firms. Mr. Mazur also serves an independent consultant focusing on the healthcare and financial services sectors. He earned his B.A. from Columbia College, where he currently serves as an executive board member, and a J.D. from Villanova.

Steven Weinstein has more than 25 years of experience at many leading technology companies defining their strategic and technological direction and expanding their core intellectual property. Mr. Weinstein is currently the Executive Vice President & Chief Strategy Officer of Macrovision Corporation, a provider of digital lifecycle value management solutions for the delivery and use of software and content. Mr. Weinstein joined Macrovision as Chief Technology Officer in December 2002 and served for two-and-a-half years as Executive Vice President and General Manager when the company consolidated its video, music and games businesses in May 2003.

Prior to Macrovision, Mr. Weinstein held the role of Chief Technology Officer at Vicinity Corporation, a provider of Web, wireless and speech-based enterprise location services, and was a founder of Backstage Pass, a business focused on digital identities and online communities for major music talent. He was also a founding executive and chief visionary at Liberate Technologies. Mr. Weinstein has also held executive-level positions at Microprose, Electronics for Imaging, Media Cybernetics, and Ship Analytics. He earned his B.S. from Vanderbilt University.

Stephen Wilson has over 25 years of general management, planning and finance experience at major international companies, including turnarounds, strategic transactions and mergers and acquisitions. He is currently a partner with Camelot Equity Partners in Darien, Connecticut. Prior to Camelot, Mr. Wilson was Executive Vice President and Chief Financial Officer at Footstar. He has also served as Executive Vice President and Chief Financial Officer of Bridge Information Systems, Reader’s Digest Association and RJR Nabisco.

His additional prior experience includes senior management and financial positions at Cadbury Beverages North America and Pepsico Inc, where he served as head of planning, Chief Financial Officer of Pepsi USA, and President of Frito-Lay Brazil. He earned a B.S. from the United States Naval Academy, Annapolis and an M.B.A. from Harvard University.

The addition of Messrs, Harrison, Mazur, Weinstein and Wilson increases the number of the Company’s directors to seven, consisting of five independent directors, Keith Harrison and Morris Sutton, the Company’s Chairman and Interim CEO.

About Majesco Entertainment Company

Headquartered in Edison, NJ, Majesco Entertainment Company (Nasdaq: COOL) is an innovative provider of digital entertainment products and content, with a focus on publishing videogames for leading portable systems such as the PSP(TM) (PlayStation(R) Portable) system, Nintendo DS(TM) and Game Boy(R) Advance. Current product line highlights include Age of Empires: The Age of Kings(R) for the Nintendo DS(TM), Guilty Gear Judgment for the PSP(TM) (PlayStation(R) Portable) system and JAWS(TM) Unleashed, as well as digital entertainment products like Frogger(R) TV Arcade. Majesco now offers Game Boy(R) Advance Video versions of the beloved DreamWorks Animation movies Shrek, Shrek 2 and Shark Tale. More information about Majesco can be found online at http://www.majescoentertainment.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 the gaming platforms on which our products operate and our products; 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.