ACTIVISION SIGNS EIGHT WORLD-CLASS SURFERS FOR KELLY SLATER'S PRO SURFER

Top Athletes Rip It Up on the PlayStation¨2 Computer Entertainment System

Santa Monica, CA -- February 23, 2001 -- Eight world-renowned pro surfers will join Kelly Slater in riding the most realistic computer-generated waves to date in Activision, Inc.'s (Nasdaq: ATVI) Kelly Slater's Pro Surfer. The authentic surfing game will be available for the PlayStation2 computer entertainment system this fall.

Kelly Slater leads a team of the most popular and legendary pro surfers that includes Lisa Andersen, Tom Carroll, Tom Curren, Nathan Fletcher, Bruce Irons, Rob Machado and Kalani Robb. Soul surfer Donavon Frankenreiter has also signed on to the game. All athletes will be represented through ultra-realistic hi-res 3D models and animations that illustrate their personal styles of surfing and signature tricks.

Interactive Republic Corporation is using a proprietary wave engine to create state-of-the-art graphics, physics and motion, allowing Kelly Slater's Pro Surfer to capture the true essence of surfing and its culture. The game delivers an exhilarating thrill ride down huge wave faces and into barreling tubes, allowing gamers to pull off unbelievable moves. The exotic real-world beaches of South Africa, Hawaii, Australia, Tahiti, Spain and North America will further immerse players in the virtual surf world.

An intuitive control system allows players to execute the most technical pro maneuvers and experience ever-changing wave conditions as they attempt the perfect ride. The title features multiple modes of play including Career Mode, Special Events and Surf Trip. Additionally, a large variety of real surf tricks and events, licensed boards, wetsuits and clothing and a top music soundtrack lend to the game's authenticity.

Considered by many to be the best surfer of all time, Kelly Slater set a world record in 1998 when he won his sixth world title. Slater first became the World Professional Surfing Champion in 1992 at the age of 20, and then garnered an additional five titles from 1994 - 1998. In securing the title five years consecutively, Slater set yet another record. The renowned athlete has spent eight years touring the globe, competing in and winning tournaments, including the Coke Surf Classic in Australia and the Quicksilver Surfmasters in France.

Based in Orange County, Calif., Interactive Republic Corporation was founded in 1999 by accomplished industry veterans. The company is a video game development studio dedicated to creating innovative, original titles for the next generation of home video game consoles.

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 revenues of $572 million for the fiscal year ended March 31, 2000.

Activision maintains operations in the US, Canada, the United Kingdom, France, Germany, Japan, Australia, 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 http://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, 2000, which was filed with the United States Securities and Exchange Commission. Readers of this press release are referred to such filing.

# # #