Take-Two Interactive Software Inc. announced unaudited consolidated earnings results for its first quarter ended January 31, 2010. Net revenue for the first fiscal quarter was $163.2 million, compared to $149.4 million for the same quarter of fiscal 2009. First quarter fiscal 2010 sales were led by Borderlands(TM), NBA(R) 2K10, Grand Theft Auto IV Grand Theft Auto: Episodes from Liberty City and Carnival Games(TM). Net loss from continuing operations for the first quarter was $33.8 million or $0.43 per share, compared to a net loss from continuing operations of $53.8 million or $0.71 per share in the first quarter of fiscal 2009. Non-GAAP net loss from continuing operations was $24.4 million or $0.31 per share in the first quarter of fiscal 2010, compared to non-GAAP net loss from continuing operations of $42.8 million or $0.56 per share in the first quarter of 2009. For the quarter, the company reported loss from continuing operations of $26,523,000, loss from continuing operations before tax of $31,336,000 and net loss of $33,874,000 or $0.43 per diluted share compared with loss from continuing operations of $56,217,000, loss from continuing operations before tax of $53,829,000 and net loss of $50,388,000 or $0.66 per diluted share for the same period a year ago. For the quarter, the company reported net cash provided by operating activities of $4,029,000 and purchase of fixed assets of $1,820,000 compared with net cash used in operating activities of $56,809,000 and purchase of fixed assets of $2,198,000 for the same period a year ago. On a non GAAP basis, the company reported loss from continuing operations before tax of $22,554,000 and net loss of $24,396,000 or $0.31 per diluted share compared with loss from continuing operations before tax of $45,176,000 and net loss of $42,807,000 or $0.56 per diluted share for the same period a year ago. For the quarter, the company reported LBITDA of 16,149,000 compared with $36,461,000 for the same period a year ago. The company provided earnings guidance for the second quarter ending April 30, 2010 and updating its guidance for the fiscal year ending October 31, 2010. For the quarter, the company expected to report revenue in the range of $250 million to $300 million and non GAAP EPS from continuing operations in the range $0.20 to $0.30. For the full year of 2010, the company expected to report revenue in the range of $725 million to $925 million and non GAAP LPS from continuing operations in the range $0.40 to $0.60.

Take-Two Interactive Software Inc., Annual General Meeting, Apr 15, 2010, at 16:00 US Eastern Time. Location: the W Hotel Union Square, 201 Park Avenue South, New York, New York, United States. Agenda: To elect directors of the eight nominees named in the attached Proxy Statement; to approve the Amendment to the Take-Two Interactive Software Inc. 2009 Stock Incentive Plan; to ratify the appointment of Ernst & Young LLP as the company's independent registered public accounting firm for the fiscal year ending October 31, 2010; and such other business that may properly come before the Annual Meeting or any adjournment thereof.

On February 18, 2010, the Board of Directors of Take-Two Interactive Software Inc. has approved the amended and restated bylaws of the Company to include the Companys current policy on majority voting in the Companys bylaws, as it previously existed in the Companys Corporate Governance Guidelines. Simultaneously with its inclusion in the Companys bylaws, the Majority Voting Policy was removed from the Companys Corporate Governance Guidelines. The amended and restated bylaws also incorporate all previously authorized bylaw amendments into one document. The amended and restated bylaws became effective immediately upon their approval by the Board of Directors.

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