ACTIVISION UNLEASHES CRITICALLY ACCLAIMED VIDEO GAME WAKEBOARDING UNLEASHED&#surf3; FEATURING SHAUN MURRAY TO NORTH AMERICAN RETAIL OUTLETS

Santa Monica, CA - June, XX 2003 - Gamers get ready to rip across a lake by a high-powered speedboat and pull off huge tricks in Activision, Inc.'s (Nasdaq: ATVI) new action sports video game, Wakeboarding Unleashed&#surf3; featuring Shaun Murray. Featuring revolutionary water graphics, unique rope mechanics and innovative two-player modes, the game has been named "Game of the Month" by PSM (July, 2003), "GMR Essential Selection" by GMR Magazine (July 2003), and Editor's Choice by the Official Xbox Magazine (August 2003).

Wakeboarding Unleashed featuring Shaun Murray is currently available for the PlayStation®2 computer entertainment system and the Xbox® video game system from Microsoft at North American retail outlets for a suggested retail price of $49.99 and has been rated "E" ("Everyone" - comic mischief) by the
ESRB.

"Activision is the #1 publisher of action sports video games and with Wakeboarding Unleashed featuring Shaun Murray we've set another benchmark for the genre," Larry Goldberg, executive vice president of Activision Worldwide Studios, said. "This title will introduce video game players to the exciting world of wakeboarding by delivering the most impressive water physics seen in any title to date and an entirely new and exhilarating gameplay experience."

Developed by Shaba Games, LLC, Wakeboarding Unleashed featuring Shaun Murray lets players perform incredible series of tricks through nine dynamic levels of limitless action. The game's unique rope mechanics enables players to let go of the rope in order to find secret areas and venture into unteathered territory. Gamers can then continue their run by grabbing a hold of the rope again to explore exotic locations from Hong Kong Harbor to Venice, Italy.

Players are also able to compete with one another in groundbreaking two-player modes including Cooperative where one person controls the boat while the other controls the boarder, and head-to-head Tug-of-War. The game features amazing water graphics, secret levels and upgradeable equipment that capture the essence of high performance wakeboarding.

A world leader in the fast-growing sport of wakeboarding, Shaun Murray is one of seven professional riders featured in the game. His impressive list of credentials includes multiple Pro Wakeboard Tour wins, a gold medal in the Gravity Games and first place at the Vans Triple Crown.

Headquartered in Santa Monica, California, Activision, Inc. is a leading worldwide developer, publisher and distributor of interactive entertainment and leisure products. Founded in 1979, Activision posted net revenues of $864 million for the fiscal year ended March 31, 2003.

Activision maintains operations in the U.S., Canada, the United Kingdom, France, Germany, Japan, Australia, Scandinavia and the Netherlands. More information about Activision and its products can be found on the company's World Wide Web site, which is located at www.activision.com.

The statements contained in this release that are not historical facts are "forward-looking statements." The Company cautions readers of this press release that a number of important factors could cause Activision's actual future results to differ materially from those expressed in any such forward-looking statements. These important factors, and other factors that could affect Activision, are described in Activision's Annual Report on Form 10-K for the fiscal year ended March 31, 2002, which was filed with the United States Securities and Exchange Commission. Readers of this press release are referred to such filings.

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