DENIZENS OF DARKNESS HAVE SOMETHING TO SINK THEIR TEETH INTO WITH THE ANNOUNCEMENT OF ACTIVISION'S VAMPIRE®: THE MASQUERADE - BLOODLINESTM FOR THE PC

Valve's Source(tm) Technology to Power Vampire: The Masquerade - Bloodlines

Santa Monica, CA - May 6, 2003 - Activision, Inc. (Nasdaq: ATVI) will plunge players into the dark and gritty vampire underworld of modern Los Angeles with the announcement of Vampire®: The Masquerade - Bloodlines (tm) for the PC. Seamlessly combining role playing with intense first-person action combat, Vampire: The Masquerade - Bloodlines allows players to become a dangerous creature of the night as they assume the role of a recently embraced fledgling vampire in the service of the city's dark prince. Vampire: The Masquerade- Bloodlines is being developed by Troika Games, whose founding members' credits include the award-winning Fallout, and is based on White Wolf's renowned pen-and-paper Vampire: The Masquerade RPG series. Built using Valve's Source(tm) Technology - the same game technology used to power Half-Life 2®, Vampire: The Masquerade - Bloodlines has not yet been rated by the ESRB and is expected to ship in 2004.

"Vampire: The Masquerade - Bloodlines blends the best parts of an RPG and a first person action game, allowing players to explore a sophisticated character development system in an open non-linear realm while experiencing intense action sequences," states Larry Goldberg, executive vice president, Activision Worldwide Studios. "We are going to take full advantage of Valve's Source Technology to send you deep into a dark and intriguing Vampire underworld filled with haunting images."

"With Vampire, Troika is proving Source can reach beyond the world of FPS games," said Gabe Newell, managing director and co-founder of Valve. "The character system, rendering abilities, and contextual AI features of Source combined with the veteran RPG design talent at Troika is a great representation of the innovation we hope to enable with this technology."

"We are very excited to have Activision and Troika producing Vampire: The Masquerade--Bloodlines," said Chris McDonough of White Wolf Games. "They are among the elite few companies capable of taking our property into the world of first person action gaming while still maintaining the story, setting, characters and role-playing aspects of the game."

Players begin their journey into darkness by choosing to play as any of seven different vampire clans. Each clan in the game offers a distinctive set of skills, traits and abilities including: supernatural speed, stealth, invisibility, mind control, inhuman strength, combat, and stamina, each of which will be further refined as players progress through the game. Players will earn and apply experience points to increase their powers and skills, allowing them to create their ultimate creature of the night, from stealthy hunter to seductive charmer to a feral, brutal killing machine.

Vampire: The Masquerade - Bloodlines' combat will be instantly familiar to players of first-person action games. In addition to vampire skills and powers, gamers will be able to call upon a devastating arsenal of weapons including stake guns, shotguns, flamethrowers, submachine guns and sniper rifles, to name a few. Once players arm themselves to the teeth they will be ready to tackle the host of human vampire hunters, ghouls, werewolves, and enemy vampires that inhabit the City of Angels after nightfall.

About Troika Games

Troika Games was founded in April 1998 by the creators of Fallout, the 1997 winner of OGR's Game of the Year, and winner of RPG of the Year from PC Gamer, Gamespot, Adrenaline Vault, Games Domain, Gamesmania, and many others. Troika Games' debut title, Arcanum: Of Steamworks and Magick Obscura, an original RPG published by Sierra Studios, was released August 2001 and has garnered the 2001 RPG of the Year award from PC Gamer, Computer Games magazine (where it also won their Best Writing award), the Vault Network, the Electric Playground and IGN.COM (where it also won their Reader's Choice award).

About White Wolf

Since their entry in the role-playing game market in 1991, White Wolf Publishing Inc. has grown and maintained an average marketshare of 26%. With collective books sales in excess of 7 million copies during this time, White Wolf is one of two undisputed worldwide publishing leaders for pen and paper role-playing games. Their properties have been licensed into television series, comic books, action figures, professional wrestlers, a myriad of merchandising and, of course, video and PC games. More information on White Wolf can be found at www.white-wolf.com. 

About Activision, Inc.

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 $786 million for the fiscal year ended March 31, 2002.

Activision maintains operations in the U.S., 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 www.activision.com. 

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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, 2002, which was filed with the United States Securities and Exchange Commission. Readers of this press release are referred to such filings. Readers of this press release are referred to such filings.

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