Majesco Entertainment to Be Added to Russell Microcap Index

EDISON, NJ--(Marketwire - Jun 23, 2011) - Majesco Entertainment Company (NASDAQ: COOL), an innovative provider of video games for the mass market, announced today that it will join the Russell Microcap® Index when Russell Investments reconstitutes its family of U.S. indexes on Friday, June 24, according to a preliminary list of additions posted on www.russell.com/indexes.

Membership in the Russell Microcap Index means automatic inclusion in the appropriate growth and value style indexes. Russell determines membership for its equity indexes primarily by objective, market-capitalization rankings and style attributes.

"We are delighted to be included in the Russell Microcap Index," said Jesse Sutton, Chief Executive Officer of Majesco. "We see this addition as a reflection of Majesco's positive momentum and growth potential. The inclusion in the index marks another milestone for the Company."

The Russell Microcap® Index measures the performance of the microcap segment of the U.S. equity market. It includes 1000 of the smallest securities in the small-cap Russell 2000® Index based on a combination of their market cap and current index membership and it includes the next 1,000 securities.

About Russell:

Russell Investments provides strategic advice, world-class implementation, state-of-the-art performance benchmarks and a range of institutional-quality investment products. Russell has more than $161 billion in assets under management as of March 31 2011, and serves individual, institutional and advisor clients in more than 35 countries. Founded in 1936, Russell is a subsidiary of The Northwestern Mutual Life Insurance Company.

About Majesco Entertainment Company

Majesco Entertainment Company is a leading publisher of video games for the mass market. Building on more than 20 years of operating history, the company is focused on developing and publishing a wide range of casual and family oriented video games on Kinect for Xbox 360®, PlayStation®Move motion controller, Wii™, Nintendo 3DS™ and Nintendo DS™, Facebook® Platform, mobile and other leading platforms. Product highlights include Cooking Mama™, TETRIS® Party Deluxe and Zumba® Fitness. The company's shares are traded on the Nasdaq Stock Market under the symbol: COOL. Majesco is headquartered in Edison, NJ and has an international office in Bristol, UK. More info can be found online at www.majescoentertainment.com or on Twitter at www.twitter.com/majesco.