MAJESCO SHIFTS RELEASE OF ‘ADVENT RISING’Eagerly Awaited Sci-Fi Adventure Scheduled for First Quarter of Next Year;Company Reiterates 2004 Fiscal Year Guidance EDISON, NJ, July 16, 2004 – Majesco Holdings Inc. (OTC BB: MJSH), a leading publisher and distributor of interactive entertainment products, today announced it has shifted the release date of their highly anticipated sci-fi video game, Advent Rising, to the first calendar quarter of 2005. Majesco also announced that due to the strong retail performance of its Game Boy ® Advance and Game Boy ® Advance Video lineup; the upcoming release of its TV Arcade products and holiday line-up, including the action/horror sequel, BloodRayne 2, the Company remains confident in its previously announced guidance of net revenues in the range of $100 to $110 million, and operating income between $12 to $15 million for its 2004 fiscal year.“We are taking advantage of our strong fourth quarter line-up to allow Advent to fully realize all aspects of its franchise potential,” said Jesse Sutton, Chief Executive Officer of Majesco. “This change in strategy also enables us to free the game from what we expect to be an overcrowded holiday season so that we can maximize the impact of our marketing campaign.”One of the most popular titles emerging from the industry’s annual Electronic Entertainment Expo, Advent Rising is the first in an epic trilogy of sci-fi action games for the Xbox ® video game system from Microsoft and PC. Working with award-winning science fiction author Orson Scott Card, developer GlyphX Games has created a gripping adventure that thrusts gamers into a continuously evolving series of sequences and events that unfold in an incredible intergalactic saga. In Advent Rising, players make decisions that effect not only what they experience in the first game, but the entire Advent trilogy.Additional information about Advent Rising and the critically acclaimed “making the game” documentary is located at www.adventtrilogy.com.About Majesco Established in 1986 and headquartered in Edison, NJ, with offices in the United Kingdom, Majesco Holdings Inc., operating through its wholly owned subsidiary, Majesco Sales Inc., is a leading developer, publisher and distributor of interactive entertainment products for the Xbox ® video game system from Microsoft, Sony PlayStation ®2 computer entertainment system, and Nintendo GameCube ™ and Game Boy ® Advance systems, as well as the personal computer. The Company’s 2004 lineup includes BloodRayne 2, the sequel to its popular action/horror series, and the launch of its Game Boy ® Advance Video product line, which utilizes the Company’s proprietary video compression technology to enable consumers to view commercial-grade video on a standard Nintendo Game Boy Advance system. Advent Rising, the first in a trilogy of action/adventure games, will ship to stores in 2005. More information about our Company can be found online at www.majescogames.com. Press Release Linkage
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