Activision Announces Four-for-Three Stock Split

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[b]<span style=\'font-size:27pt;line-height:100%\'>Activision Announces Four-for-Three Stock Split</span>[/b]

SANTA MONICA, Calif., Feb 23, 2005 /PRNewswire-FirstCall via COMTEX/ -- Activision, Inc. (Nasdaq: ATVI) announced today that its Board of Directors approved a four-for-three stock split of its outstanding shares of common stock to be effected in the form of a 33-1/3% common stock dividend.

The stock dividend is payable March 22, 2005, to stockholders of record at the close of business on March 7, 2005. Stockholders will receive one additional share of common stock for every three shares held on the record date. In lieu of issuing any fractional shares in connection with the split, stockholders will receive a cash payment based on the average of the high and low sales prices of the common stock on the record date, as adjusted for the split. Activision will have approximately 200,000,000 shares of common stock outstanding after the split.

Activision also announced that its Board of Directors has called a special meeting of stockholders on April 4, 2005. The special meeting has been called to approve an amendment to Activision\'s Amended and Restated Certificate of Incorporation, as amended, to increase the number of authorized shares of common stock from 225,000,000 to 450,000,000. The occurrence of the four-for-three stock split is not contingent upon the approval of the increase in the number of authorized shares.

\"We are proud of Activision\'s long-term record of revenue and earnings growth,\" stated Robert Kotick, Chairman and CEO of Activision. \"By increasing the total number of authorized shares available for issuance, we will improve our long-term financial flexibility.\"

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