Take-Two Interactive Software, Inc. today announced here of the revision of revenue and also guidance of earnings for the financial year 2007. It has been announced on the part of the Company that it is keeping no stone unturned in the reduction of its fiscal 2007, first and foremost for the effective reflection of the movement of the launch of Grand Theft Auto IV for the PLAYSTATION®3 computer entertainment system and the Xbox 360 ™ video game and entertainment system from the fourth quarter of fiscal 2007 to fiscal 2008 of whose the chief reason being the added development time required or the completion of the title. It has also been confirmed that there happens to be a definite plan for the release of a definite plan in the second quarter of fiscal 2008 of the Company.

In addition, the Take-Two is also engaged in the process of updating third quarter and fiscal year 2007 guidance for the effective reflection of the movement of Manhunt 2 for the PlayStation®2 computer entertainment system, PSP® (PlayStation®Portable) system and the Wii ™ out of the third quarter and the fiscal year.

Take-Two Interactive Software, Inc. is a renowned publisher, developer and distributor of interactive entertainment software, hardware and accessories in the international arena. The Company's product offerings include titles for the leading hardware platforms like PlayStation®2 and PLAYSTATION®3 computer entertainment systems, PSP® (PlayStation®Portable) system, PlayStation® game console, Xbox® and Xbox 360(tm) video game and entertainment systems from Microsoft, Wii(tm), Nintendo GameCube(tm), Nintendo DS(tm) and Game Boy® Advance, and for the PC.

Ben Feder, the Chief Executive Officer of Take-Two on the latest development for the fiscal year 2007 commented, "Obviously, we are very disappointed to reduce guidance after having previously reaffirmed it. Other than a matter of timing, the movement of Grand Theft Auto IV does not compromise Take-Two in any way. We are in sound financial condition and have a great product line up. Grand Theft Auto IV is going to be the defining next generation video game action adventure." On the contrary the Chairman of Take-Two Interactive Software, Inc. Strauss Zelnick,, stated, "With Grand Theft Auto IV, Rockstar is setting a new standard for next generation video games. Certain elements of development proved to be more time-intensive than expected, especially given the commitment for a simultaneous release on two very different platforms. We all recognize that perfecting the game is vital and I can assure everyone it will be worth the wait. We owe it to the game's millions of fans, to our dedicated development team, and to our shareholders to make sure that Grand Theft Auto IV is a groundbreaking gaming experience that takes maximum advantage of next generation technology."