Psychonauts Now Available on Steam

EDISON, NJ, October 11, 2006 - Majesco Entertainment Company (NASDAQ: COOL), an innovative provider of digital entertainment products, and Valve announce Psychonauts is now available on Steam, the leading online platform for PC games, for $19.99.

Psychonauts is Double Fine Productions' critically acclaimed, mind-bending comedic action / adventure about a young circus performer's desperate quest to save a summer camp for psychics from a mysterious, brain-stealing lunatic. Created by industry veteran Tim Schafer, designer of classic games such as Full Throttle and Grim Fandango, Psychonauts has received numerous awards, including game of the year from Eurogamer and, last week, the prestigious BAFTA.

"So for the press release. uh. man, it's tough because every single 'steam' related play on words has already been done," said Schafer. "Double Fine and Valve: With a love this hot, you know there's gotta be STEAM! How about that?"

Not content to simply craft a stunning play on words about Valve's full-featured broadband platform for the delivery and management of games, Schafer ordered award-winning cartoonist and Psychonauts art director Scott Campbell to create a special comic commemorating the warm digital relationship between Double Fine and Valve. The impressive result is available here: http://storefront.steampowered.com/v/promotional/ValvePlusDoubleFine1000.jpg

About Steam

The leading online platform for PC games and digital entertainment, Steam delivers new releases and online services to over 10 million PC users around the world. For more information, please visit www.steamgames.com.

About Majesco Entertainment Company

Headquartered in Edison, NJ, Majesco Entertainment Company (NASDAQ: COOL) is an innovative provider of digital entertainment products and content, with a focus on publishing videogames for leading portable systems such as the PSP (PlayStationPortable) system, Nintendo DST and Game Boy Advance. Current product line highlights include Cooking Mama for the Nintendo DST, Guilty Gear Judgment for the PSP (PlayStationPortable) system and JAWST Unleashed, as well as digital entertainment products like Frogger TV Arcade. Majesco also offers Game Boy Advance Video versions of the beloved DreamWorks Animation movies Shrek, Shrek 2 and Shark Tale. More information about Majesco can be found online at www.majescoentertainment.com.

About Double Fine Productions

Double Fine Productions is an award-winning, independent game development studio founded in 2000 by games industry veteran Tim Schafer. Located in San Francisco's South of Market district, Double Fine is committed to making high-quality games with an emphasis on originality, story, characters, and fun. For information, comics, jokes, and Psychonauts merchandise, please visit www.doublefine.com.