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Majesco Entertainment and Devolver Digital Team Up to Bring Cult Classic Shadow Warrior to Next Gen Consoles This September

Bold Reimagining of Original Arcade First Person Shooter Coming to Xbox One and PlayStation(R) 4

EDISON, NJ -- (Marketwired) -- 07/09/14 -- Majesco Entertainment Company (NASDAQ: COOL), an innovative provider of video games for the mass market, and Devolver Digital, kings of fun, today announced a retail distribution partnership to release the retro-inspired reboot Shadow Warrior on the PlayStation® 4 computer entertainment system and the Xbox One games and entertainment system from Microsoft this Fall.

"Shadow Warrior turns the 90's nostalgia meter way up, delivering big guns, big blades and big attitude laced with humor," said Jesse Sutton, Chief Executive Officer, Majesco Entertainment. "This is a must have title for every kind of fan: those who loved the original game, FPS enthusiasts and players looking for a deep next gen experience at a legacy price point. We're proud to partner with Devolver to bring this highly rated game to the console audience."

"Our fans have been very vocal about bringing Shadow Warrior to PlayStation 4 and Xbox One so we're absolutely thrilled to be working with our friends at Majesco to put Wang in a box later this year," said Devolver Digital CFO Fork Parker.

Shadow Warrior is a bold new vision of the 1997 cult classic, reimagined with a blend of modern design, inventive combat mechanics, and a contemporary retelling of Lo Wang's comical rise to legend. The game tells the eccentric tale of Zilla Enterprise's corporate shogun, Lo Wang, who is ordered by his employer to track down and acquire a legendary blade. Forced into a timeless battle, Lo Wang learns of the blade's connection to ancient gods from another realm, pushing our world to the brink of destruction. Aided by Hoji, a banished spirit from this mysterious world, Lo Wang must use a masterful combination of gun, blade, magic and wit to discover the truth behind the demonic invasion and banish the encroaching forces back into the darkness.

Developed by Flying Wild Hog, Shadow Warrior will be available for the suggested retail price of $39.99 on PlayStation® 4 and Xbox One in late September. For additional information, please visit the official game site at www.shadowwarrior.com.

ABOUT DEVOLVER DIGITAL
Devolver Digital is a purveyor of fine digital entertainment wares from independent artists worldwide, including games such as Shadow Warrior, Serious Sam HD, Hotline Miami, and independent films such as Good Game and Loves Her Gun. For updated information on development of Shadow Warrior, follow @_ShadowWarrior on Twitter or visit www.shadowwarrior.com, and for more information about Devolver, go to www.devolverdigital.com or check them out on Twitter (@DevolverDigital), Facebook (Facebook.com/DevolverDigitalGames), or YouTube (YouTube.com/DevolverDigital).

ABOUT MAJESCO ENTERTAINMENT COMPANY
Majesco Entertainment Company is an innovative developer, marketer, publisher and distributor of interactive entertainment for consumers around the world. Building on more than 25 years of operating history, the company develops and publishes a wide range of video games on console, handheld and mobile platforms, as well as digital networks through its Midnight City label. Majesco also owns 50% of GMS Entertainment, the parent company of online gaming company Pariplay, which specializes in iGaming, iLottery and social gaming. Majesco is headquartered in Edison, NJ and the company's shares are traded on the Nasdaq Stock Market under the symbol: COOL. More info can be found online at majescoent.com or on Twitter at twitter.com/majesco.

SAFE HARBOR
Certain statements contained herein are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements may be identified by reference to a future period(s) or by the use of forward-looking terminology, such as "may," "will," "intend," "should," "expect," "anticipate," "estimate" or "continue" or the negatives thereof or other comparable terminology. The Company's actual results could differ materially from those anticipated in such forward-looking statements due to a variety of factors. These factors include but are not limited to, the demand for our products; our ability to complete and release our products in a timely fashion; competitive factors in the businesses in which we compete; continued consumer acceptance of our products and the gaming platforms on which our products operate; fulfillment of orders preliminarily made by customers; adverse changes in the securities markets and the availability of and costs associated with sources of liquidity. The Company does not undertake, and specifically disclaims any obligation, to release publicly the results of any revisions that may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.

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