Fiscal 2003 Half-Year Revenue (at December 31, 2002):

In €million 2002/2003 2001/2002
First Quarter
(ended September 30, 2002) 180.9 136.6
Second Quarter
(ended December 31, 2002) 332.6 285.5
TOTAL 513.5 422.1

The Group continues its growth with strong performances recorded for the fiscal 2003 second quarter. Over the period, revenue rose to €332.6 million.

Fiscal 2003 half-year revenue rose to €513.5 million, an increase of 22% compared to the same period last year. Assuming consistent foreign exchange rate, fiscal 2003 half-year revenue rose 30%.

For the six-month period ending December 31, 2002, the contribution of U.S. operations rose to $313.9 million, an increase of 27%. They represent 61.6% of the Group's revenue over the period.

For the six-month period ending December 31, 2002, the contribution of European operations is €197.0 million, representing a 35% increase. They represent 38.4% of the Group's revenue over the period.

Titles

Commercial success of several titles drove the positive performance during the period :

More than 2.7 million units were sold worldwide with the Dragon Ball Z franchise. The PlayStation2 version was the #2 console title over the December period in the United States, according to NPD Funworld;

3 franchises of the Group have sold more than one million units :
- Roller Coaster Tycoon, among the PC Top 5 selling titles since its release on October 15, 2002 ;
- Unreal Tournament, whose XBox on line version has been chosen by Microsoft for the launch of the Xbox live ;
- The Backyard line-up, which dominates the segment of kids' sport games (football, hockey, basketball) .

Titles such as Titeuf on GBA, Stuntman on PS2, Godzilla on GameCube have been also performing well.

Formats

Over the six-month period ending December 31, 2002, Infogrames continues to strengthen its market share for new generation consoles products, which represent 51% of the Group's revenue for the period (versus 15% for the same period of the prior fiscal year). PlayStation 2 is the most important format and represents 26% of the Group's sales, followed by the Xbox, 11%, the GameBoy Advance, 9% and the Game Cube, 5%.

39% of the Group's revenue over the period were attributed to the PC line-up which goes on representing a solid and recurring base of activity.

Prospects:

For fiscal 2003, the Group still anticipates sustained growth of its major markets and particularly the continuation of rebound for the European market.

The next six-month period will see the launch of highly anticipated titles such as Unreal 2 : The Awakening on PC, Racing Evoluzione on Xbox, Ikaruga on Game Cube.

But the editorial event of the period will be the multi-format launch of Enter the Matrix scheduled for release in conjunction with the theatrical release of The Matrix : Reloaded motion picture.

For fiscal 2003, the Group confirms its forecast of 20% growth for its operations, assuming consistent foreign exchange rates and targets revenue of €880 million after considering an exchange rate of one euro for one dollar.