Activision Responds

Activision would like to respond to what we believe are several factual errors. When Activision's president Ron Doornink commented: "We are seeing a pickup across the board," the context was a discussion about increasing demand for video game hardware, and was not a comment about Activision's business, as stated in Mr. Cramer's commentary.

Ron's remarks made at the Credit Suisse First Boston Conference were Webcast, and were not "intended for the small group of institutional investors at First Boston."

After the conference, Activision publicly stated that Ron's comments "were not intended to affirm or update guidance."

The company did not state that "it was too early to raise guidance," nor did it issue a press release regarding guidance, as stated by Mr. Cramer in his article.

Maryanne Lataif
VP, corporate communications
Activision, Inc.

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