AKLM Acclaim Entertainment (MM)

Acclaim Entertainment, Inc.'s Form S-1 Registration Statement Declared Effective by Securities and Exchange Commission GLEN COVE, N.Y., April 8 /PRNewswire-FirstCall/ -- Acclaim Entertainment, Inc. , a global video entertainment software developer and publisher, announced today that the Securities and Exchange Commission (the "Commission") declared Acclaim's Form S-1 Registration Statement (the "Registration Statement") effective at 4:30 p.m. EDT on April 7, 2004. The Registration Statement covers, among other things, the resale by certain security holders of $15,000,000 of Acclaim's 9% Convertible Subordinated Notes Due 2007 (the "9% Notes"), as well as up to 63,500,000 shares of Acclaim's common stock issuable upon (i) conversion of the 9% Notes, (ii) conversion of Acclaim's 16% Convertible Subordinated Notes Due 2010 (the "16% Notes") and (iii) exercise of warrants issued in connection with the 9% and 16% Notes. The securities which may be offered by the selling securityholders pursuant to the Registration Statement were, and in the case of certain shares of common stock issuable upon the exercise of warrants will be, issued pursuant to the exemptions from registration provided under Section 4(2) or Regulation D of the Securities Act of 1933, as applicable. Acclaim will not receive any proceeds from the offering by the selling securityholders. About Acclaim Entertainment Based in Glen Cove, N.Y., Acclaim Entertainment, Inc. is a worldwide developer, publisher andmass marketer of software for use with interactive entertainment game consoles including those manufactured by Nintendo, Sony Computer Entertainment and Microsoft Corporation as well as personal computer hardware systems. Acclaim owns and operates five studios located in the United States and the United Kingdom, and publishes and distributes its software through its subsidiaries in North America, the United Kingdom, Australia, Germany, France and Spain. The Company uses regional distributors worldwide. Acclaim also distributes entertainment software for other publishers worldwide, publishes software gaming strategy guides and issues "special edition" comic magazines periodically. Acclaim's corporate headquarters are in Glen Cove, New York and Acclaim's common stock is publicly traded on NASDAQ.SC under the symbol AKLM. For more information please visit our website at http://www.acclaim.com/. The statements contained in this release which are not historical facts are "forward-looking statements." Acclaim cautions readers of this press release that a number of important factors could cause Acclaim's actual future results to differ materially from those expressed in any such forward-looking statements. These important factors, including, without limitation, the financial strength of the interactive entertainment industry, dependence on new product introductions and the ability to maintain the scheduling of such introductions, technological changes, dependence on major platform manufacturers and other factors that could affect Acclaim, are described in Acclaim's Annual Report on Form 10-K for the fiscal year ended March 31, 2003, and Acclaim's subsequent Quarterly Reports on Form 10-Q, all of which were filed with the United States Securities and Exchange Commission. Readers of this press release are referred to such filings. Media Contact: Financial Contact: Alan B. Lewis Gerard F. Agoglia Acclaim Entertainment, Inc. Acclaim Entertainment, Inc. (516) 656-5000 (516) 656-5000 DATASOURCE: Acclaim Entertainment, Inc. CONTACT: Media - Alan B. Lewis, , or Financial - Gerard F. Agoglia, , both of Acclaim Entertainment, Inc., +1-516-656-5000 Web site: http://www.acclaim.com/

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