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GameStop Corp. Announces Successful Nationwide Midnight Launch of Sony's PSP

GRAPEVINE, Texas--(BUSINESS WIRE)--March 24, 2005--GameStop Corp. (NYSE:GME) (NYSE:GME.B), the nation's largest video game and entertainment software specialty retailer, today announced that the launch of the new, highly-anticipated release of Sony Computer Entertainment of America's PSP (Playstation Portable) video game system was a tremendous success.

In this nationwide launch, many of the stores across GameStop's 1,800-plus chain celebrated with midnight openings on March 24. This marked the official launch of Sony's entrance into the billion dollar hand-held video game system category. GameStop participated in this history-making event by opening many of their stores at 12:01 a.m., and allowing their valued customers who had pre-reserved the system to purchase their product.

The PSP Value Pack, being offered for $250, includes the revolutionary PSP hardware, stereo headphones, a 32-MB memory stick duo, battery pack, a soft carrying case, and a cleaning cloth. Also included are two of Sony's proprietary 1.8-gigabyte Universal Media Discs, one of which is a sampler of music, movies and video games, and the other being the movie "Spiderman 2." Additional very attractive features of this system are its portability, 16:9 aspect ratio and color screen resolution of 480 by 272 pixels.

"GameStop was proud to be among the first retailers, at the stroke of midnight, to offer our customers the ability to purchase their PSP, along with all accessories and hot titles available at launch, during these midnight openings. We try to make these events a 'celebration,' and strive to ensure our customers are amongst the first to have the product. We believe that our buy-sell-trade program affords all of our customers the ability to own any system(s) and games that they desire the most," said Jack Beuttell, Senior Vice President Marketing and Merchandising. "Our successful launch proves that the market is ready for a state-of-the-art portable unit that, in its early stage, has even greater potential with the continuous availability of additional games, movies and accessories. We expect that sales of Sony's revolutionary new PSP system will continue to be strong throughout the year, and this system promises to be a great entertainment value for teens and adults alike."

Chris Levenberg, Area Manager from Long Island, N.Y., commented, "I attended the PSP Launch Party at our store in Bay Shore. The snow and sleet did not dampen our customers' enthusiasm. Our midnight opening showed that not only are we going the extra mile for our customers, but our customers went the extra mile for us!"

Mike Lannen, District Manager from San Diego, said, "The first three customers in line didn't have to use a single dollar out of their pocket as they had already traded in multiple games and DVD's to take advantage of GameStop's great trade-in program. The third customer in line commented that he traded in games and DVD's that were sitting around his house and purchased the entire PSP Value Pack system and an additional game at no extra cost."

Meanwhile, District Manager Lisa Rockett, described the "Superman 2" movie theme that was held at one of GameStop's stores in Houston, where they served popcorn and soft drinks.

From Chicago, Mark Qualls, District Manager, summed up the overall experience for GameStop, "During a trivia contest at our celebration in Joliet, I asked, 'Where is the best place to get your PSP, games and accessories?' Over 50 people shouted in unison, 'GameStop!' I must admit, our employees had as much fun as our customers, and we always strive to make sure our customers have a fantastic time."

About GameStop Corp.

Headquartered in Grapevine, Texas, GameStop Corp. (NYSE:GME) (NYSE:GME.B) is the nation's largest video game and entertainment software specialty retailer, based on the number of U.S. stores and U.S. revenues. The company operates 1,826 retail stores throughout the 50 states, the District of Columbia, Puerto Rico and Ireland, primarily under the GameStop(R) brand. In addition, the company owns a commerce-enabled Web property, GameStop.com, and Game Informer(R) magazine, a leading video and computer game publication.

GameStop Corp. sells the most popular new software, hardware and game accessories for the PC and next generation video game systems from Sony, Nintendo, and Microsoft, and is also the industry's largest reseller of used video games. In addition, the company sells computer and video game magazines and strategy guides, action figures, and other related merchandise to more than 30 million customers.

General information on GameStop Corp. can be obtained via the Internet by visiting the company's corporate Website: http://www.gamestop.com/investor-relations/.

Safe Harbor

This press release contains "forward-looking statements." GameStop Corp. is including this statement for the express purpose of availing itself of the protections of the safe harbor provided by the Private Securities Litigation Reform Act of 1995 with respect to all such forward-looking statements. These forward-looking statements are based on currently available information and represent the beliefs of the management of the company. These statements are subject to risks and uncertainties that could cause actual results to differ materially. These risks include, but are not limited to, general economic and market conditions, seasonality, decreased consumer demand for the company's products, possible disruptions in the company's computer or telephone systems, possible work stoppages or increases in labor costs, possible increases in shipping rates or interruptions in shipping service, effects of competition, possible disruptions or delays in the opening of new stores or the inability to obtain suitable sites for new stores, possible disruptions or delays in successfully transferring the company's headquarters and distribution center to a new facility during 2005, higher than anticipated store closing or relocation costs, higher interest rates, the performance of the company's online and other initiatives, the successful integration of acquired businesses, unanticipated increases in merchandise or occupancy costs, unanticipated adverse litigation results or effects, product shortages, and other factors which may be outside of the company's control. In addition, the video game industry has historically been cyclical in nature and dependent upon the introduction of new generation systems and related interactive software. Please refer to the company's reports on file with the SEC for a more detailed discussion of these and other risks that could cause results to differ materially.

CONTACT: GameStop Corp., Grapevine
Media Contact:
Lori M. Milovich, 817-424-2130
Director, Public & Investor Relations
or
Investor Contact:
David W. Carlson, 817-424-2130
Executive Vice President & Chief Financial Officer

SOURCE: GameStop Corp.