Legends of Wrestling II Announced

ACCLAIM ENTERTAINMENT RETURNS TO
THE SQUARED CIRCLE WITH ‘LEGENDS OF WRESTLING II’ ACROSS ALL NEXT-GENERATION
PLATFORMS

Successful Wrestling Franchise
Returns This Fall with All-New Matches and Over 65 Superstars – Hulk Hogan,
Andre The Giant, Rowdy Roddy Piper And Bruno Sammartino

E3, LOS ANGELES, CA, May 21, 2002 –
Stepping back into the ring with the greatest collection of wrestling icons to
ever be assembled in one video game, Acclaim Entertainment, Inc. (NASDAQ.SC:
AKLM), today announced it will release Legends of Wrestling II(tm) this fall
across all of the next-generation video game systems. Being developed by Acclaim
Studios Salt Lake, Legends of Wrestling II builds upon the retail success of its
predecessor and will feature all new match types and more than 65 superstars,
including Hulk Hogan, Andre The Giant, Rowdy Roddy Piper, Bruno Sammartino, Bret
"Hitman" Hart, Sid Vicious, "Big Poppa Pump" Scott Steiner and Jerry "The King"
Lawler.

"Legends of Wrestling was one of our most important brand introductions of 2001,
and we are thrilled to return this holiday season with a sequel that promises to
set a new benchmark in the category," said Evan Stein, Vice President of Brand.
"Offering the biggest names in wrestling, incredible next-generation graphics
and game play, as well as countless hours of body-slamming action, Legends of
Wrestling II will be a ‘must-have’ title for gamers."

"Legends of Wrestling II packs the power of some of the best names in this
business," added Hulk Hogan. "I can’t wait to take my 24-inch pythons and
lock-up with Andre The Giant and relive one of the greatest matches of my
career."

Legends of Wrestling II will offer many exciting new features, including:

• More than 65 of the greatest
  wrestlers of all time;

• Cranium-crushing match types, such
  as 6- and 8-man Elimination Bouts, Cage, Battle Royal, Ladder, Table and 3-
  and 4-way dances;

• Never-before-seen $15,000 Body
  Slam Challenge with Big John Studd;

• All-new storyline and career
  modes, allowing players to battle throughout the United States and the world
  for the respect of promoters and fans while fighting for the heavyweight
  championship of the world;

• Fierce tag-team tournaments with
  great teams such as The Road Warriors, Steiner Brothers, British Bulldogs,
  Nasty Boys, Rock-n-Roll Express and more;

• Leverage the experience of some of
  the greatest managers in the business, including Bobby "The Brain" Heenan, The
  Grand Wizard, Captain Lou Albano, "Mouth of the South" Jimmy Hart and Mr.
  Fuji;

• Signature entrances and taunts for
  each legendary wrestler, including all new licensed music composed by "Mouth
  of the South" Jimmy Hart;

• All-new DVD bonus footage,
  including interviews with many of the legends talking about their famed
  careers, favorite opponents and more;

• Advanced ISP system delivering
  even more bone-breaking one-button combos and reversals for outstanding game
  play;

• Create-A-Legend returns bigger and
  better, allowing players to make their ultimate grappler;

• All-new dynamic cloth and hair
  technology enhancing the realism of the wrestlers’ movements.

Legends of Wrestling II will be
available this fall across all next-generation systems at suggested retail
prices to be determined. For more information on this game, please visit
http://www.acclaim.com. Acclaim’s complete
showcase of products will be featured at E3 in Los Angeles, CA at booth #1046 in
the South Hall.

About Acclaim Entertainment
Based in Glen Cove, N.Y., Acclaim Entertainment, Inc., is a leading worldwide
developer, publisher and mass marketer of software for use with interactive
entertainment game consoles including those manufactured by Nintendo, Sony
Computer Entertainment and Microsoft Corporation as well as personal computer
hardware systems. Acclaim owns and operates six studios located in the United
States and the United Kingdom which includes a motion capture and recording
studio in the U.S., and publishes and distributes its software through its
subsidiaries in North America, the United Kingdom, Germany, France and Spain.
The Company uses regional distributors worldwide. Acclaim also distributes
entertainment software for other publishers worldwide, publishes software gaming
strategy guides and issues "special edition" comic magazines from time to time
to support its time valued brands, Turok and Shadow Man. Acclaim’s corporate
headquarters are in Glen Cove, New York and Acclaim’s common stock is publicly
traded on NASDAQ.SC under the symbol AKLM. For more information please visit our
website at http://www.acclaim.com.