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Take-Two Acquires Barking Dog Studios; Forms Rockstar Vancouver

Take-Two Interactive Software is expanding its Rockstar Games label with the formation of Rockstar Vancouver. Take-Two acquired Vancouver-based Barking Dog Studios, Ltd. for $3 million in cash and 242,450 shares of restricted common stock. Barking Dog will be renamed Rockstar Vancouver. Barking Dog Studios currently employs approximately fifty developers, and is working on a yet to be announced military video game to be published under the Rockstar brand, and will soon begin development on a second original video game title for Rockstar. Rockstar Canada, Take-Two's existing development studio located in Oakville, Ontario, will be renamed Rockstar Toronto. Rockstar Toronto is responsible for the development of the PlayStation2 versions of the ONI and MAX PAYNE intellectual properties, and the studio is currently developing THE WARRIORS, a game based on Paramount Pictures' 1979 gang drama of the same name. "We have experienced a great deal of success with the strategic expansion of Rockstar Games, and the addition of talented internal development teams," said Kelly Sumner, chief executive officer of Take-Two. "As the entertainment software industry continues to expand, we expect that Rockstar's expertise in the development of unique intellectual properties and award-winning content will continue to propel Take-Two to new levels of success." Take-Two recently unveiled Gotham Games, a new publishing arm that will create content for all ages across multiple platforms.

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