VALVE'S DAY OF DEFEAT(tm) GOES GOLD,

PREPARES TO INVADE RETAIL SHELVES EVERYWHERE

Santa Monica, CA - April 22, 2003 - Gamers get ready to finalize war plans and ready the reinforcements as Valve's Day of Defeat(tm) has gone gold. The multiplayer action-packed WWII game pits players in Axis vs. Allies squad-based combat in Western Europe at the height of the war in 1944. Day of Defeat is powered by Valve's Half-Life® technology and is the first title to be published by Activision, Inc. (Nasdaq: ATVI) under its new strategic partnership with Valve. The game is rated "T" (Teen - blood and violence) by the ESRB and carries a suggested retail price of $29.99. The title is scheduled for release this May.

About Valve
Founded in 1996, Valve creates entertainment software titles, including Half-Life®, Counter-StrikeTM, and Team Fortress®. Valve's portfolio accounts for over 8 million retail units sold worldwide, and over 88% of the online action market. More information about Valve is available through the company's Web site at www.valvesoftware.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, Scandinavia 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.