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Released from its contract with Interplay last week, Shiny Entertainment didn't stay on the market for very long. Gigantic publisher Infogrames picked up the UK-based developer to add to its already impressive list of in-house and subsidiary game companies. Dave Perry has signed a long-term contract with Infogrames to remain President of Shiny Entertainment. The deal also means that Infogrames now has exclusive rights to publish Shiny's upcoming games based on The Matrix and its sequels, The Matrix: Reloaded and The Matrix: Revolutions.

Shiny's first Matrix game, titled The Matrix: Reloaded is scheduled for release in May 2003 alongside the theatrical debut of its movie namesake. No details were given on whether this move by Infogrames will affect the previously announced Xbox-exclusive features, including online play, for The Matrix: Reloaded, but presumably the game is still planned for release on all three consoles. Here's the full press release for your reading pleasure:

INFOGRAMES TO ACQUIRE SHINY ENTERTAINMENT AND EXCLUSIVE LICENSE TO 'THE MATRIX' INTERACTIVE GAMES

Transaction Brings Highly Coveted 'THE MATRIX' Franchise and State-of-the-Art Development Studio Under Infogrames Banner

New York, New York, April 25, 2002 -- Infogrames, Inc. (Nasdaq: IFGM), a leading publisher of interactive entertainment software, today announced that it has signed a Purchase Agreement to acquire Shiny Entertainment, Inc. from Interplay Entertainment Corp. (Nasdaq: IPLY). Through this acquisition, Infogrames will have exclusive worldwide rights to develop and publish interactive games based on sequels to the highly acclaimed, Academy Award-winning action thriller, 'THE MATRIX.' The games will be based on the upcoming sequels, 'THE MATRIX RELOADED' and 'THE MATRIX REVOLUTIONS' from Warner Bros. Pictures. The transaction is expected to close within one week, following satisfaction of various closing conditions, which include the execution of other ancillary agreements with various third parties.

Under the terms of the agreement, Infogrames will acquire the full development operations of Shiny Entertainment and will have exclusive rights to the 'THE MATRIX' sequel games for all major existing platforms, and their successors and replacements; the patent for Shiny's Advanced Tessellation Technology; and exclusive rights to other tools and assets associated with the development of 'THE MATRIX' games, for a purchase price of approximately $47 million (subject to certain adjustments), in a combination of cash and a promissory note. As part of the transaction, David Perry, founder and President of Shiny Entertainment, has signed a long-term employment agreement with Infogrames to remain as President of Shiny. Under Mr. Perry¡¦s leadership, Shiny's development team, which now joins Infogrames, created award-winning titles such as Earthworm Jim, MDK and Sacrifice, which are published by Interplay. Larry Wachowski and Andy Wachowksi, the creators, writers and directors of !

THE MATRIX franchise, have worked closely with Mr. Perry and the Shiny team on the development of the games.

'To add Shiny and 'THE MATRIX' franchise to our portfolio is a tremendous coup for Infogrames,' said Bruno Bonnell, Chairman and CEO of Infogrames, Inc. 'Shiny's outstanding development team has a proven track record for creating innovative games that push the envelope, making the studio a wonderful addition to our growing in-house development team, and underscoring our commitment to assembling the best talent in the industry under the Infogrames banner.'

Shiny Entertainment will join Infogrames, Inc.'s internal development operations, which currently include: Reflections Interactive (Stuntman, Driver, Driver 2); Legend Entertainment (Unreal, Unreal Episode 2); Humongous Entertainment (Backyard Sports); and studio teams in Los Angeles, CA; Beverly, MA; and Minneapolis, MN. In addition, on behalf of its parent company, Infogrames Entertainment SA, the Company manages Paradigm Entertainment (Terminator, Mission: Impossible II), and a studio in Hunt Valley, MD, and represents Eden Studio (V-Rally franchise) and Melbourne House (Men in Black II, Formula One) in the U.S.

Warner Bros., the studio producing and releasing THE MATRIX films and the licensor for THE MATRIX game rights, has approved the acquisition and transfer of the license to Infogrames. The first game Infogrames will release will be 'THE MATRIX RELOADED,' the sequel to the original blockbuster THE MATRIX. Currently, the game is scheduled for release in May 2003 in conjunction with the theatrical release of 'THE MATRIX RELOADED' motion picture.

'The revenue potential for THE MATRIX on multiple platforms is tremendous, making THE MATRIX RELOADED a premier title in our line-up for Fiscal 2003,' said Mr. Bonnell. 'THE MATRIX is one of the most desirable franchises within this industry. Its popularity and cult status are undeniable, and its movie fan base encompasses the quintessential gaming audience.'

Mr. Bonnell continued, 'Working closely with David's team at Shiny, we expect to release the game around the world next May, backed by the full force of our marketing, advertising and retail operations.'

'Infogrames has a legacy of attracting the best development teams in the business and they've built a reputation for being extremely supportive of creative talent,' said David Perry, President of Shiny Entertainment. Mr. Perry continued, 'We are thrilled to be joining the Infogrames family, which clearly shares our enthusiasm for and belief in THE MATRIX franchise.'