FOR IMMEDIATE RELEASE
ACTIVISION ANNOUNCES NEW HOLDING COMPANY REORGANIZATION
Santa Monica, CA, June 16, 2000 - Activision, Inc. (NASDAQ: ATVI)
announced today that on June 9, 2000, it reorganized into a holding company
structure. The purpose of the reorganization was to provide the company with
a more flexible organizational and capital structure and to enhance its
financing options. The business operations of Activision, Inc. will not
change as a result of the reorganization. The company's existing stock
certificates represent shares of the new holding company. The common stock
of the new holding company will continue to trade on the NASDAQ National
Market under the symbol "ATVI."
As a result of the reorganization, a new parent company, Activision
Holdings, Inc., a Delaware corporation, owns 100 percent of the previously
publicly held Activision, Inc. As part of the reorganization, the former
Activision, Inc. changed its name to Activision Publishing, Inc. and
Activision Holdings, Inc. changed its name to Activision, Inc. Outstanding
shares of capital stock of the former Activision, Inc. were automatically
converted, on a share for share basis, into identical shares of common stock
of the new holding company.
Under Delaware law, the reorganization was structured in a manner
that did not require action by Activision's stockholders, whose rights,
privileges and interests will remain the same with respect to the new holding
company. The change to the holding company structure was tax free to the
company's stockholders. The by-laws, executive officers and board of
directors of the new holding company will remain the same.
Headquartered in Santa Monica, California, Activision, Inc. is a
leading worldwide developer, publisher and distributor of interactive
entertainment and leisure products.
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, 1999, which was filed with the United
States Securities and Exchange Commission. Readers of this press release are
referred to such filings.
