GRAPEVINE, Texas--(BUSINESS WIRE)--July 21, 2005--GameStop Corp. (NYSE:GME)(NYSE:GME.B), today announced that it has removed Take-Two Interactive's "Grand Theft Auto: San Andreas" for all platforms from all of its retail locations and its e-commerce website based on the decision by the Entertainment Software Ratings Board (ESRB) to change the game's rating from Mature (M) to Adults Only (AO). It is GameStop's corporate policy not to sell video games that have an ESRB rating of Adults Only (AO). GameStop believes that the ESRB rating system is an effective method used to inform consumers about the content in video games and will continue to support the ESRB's efforts.
GameStop intends to return all new units of "Grand Theft Auto: San Andreas" to Take-Two Interactive for full credit and to re-stock the game when it has been modified to meet the ESRB's Mature (M) rating.
GameStop also announced that it will incur a $1.1 million charge in its second fiscal quarter to write-down the value of its "Grand Theft Auto: San Andreas" used inventory currently in stock, which will translate to an approximate $0.01 charge to earnings per diluted share.
About GameStop Corp.
Headquartered in Grapevine, Texas, GameStop Corp. (NYSE:GME)(NYSE:GME.B) is one of the nation's largest video game and entertainment software retailers. The company operates 1,908 retail stores throughout the 50 states, the District of Columbia, Puerto Rico, Ireland and the United Kingdom, 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. 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/.
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 completion and integration of the planned merger with Electronics Boutique Holding Corp. and other acquired businesses, unanticipated increases in merchandise or occupancy costs, unanticipated adverse litigation results or effects, product shortages or delays in the introduction of new generation systems and related interactive software and other factors which may be outside of the company's control. 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
Executive Vice President & Chief Financial Officer
David W. Carlson, 817-424-2130
SOURCE: GameStop Corp.