ACTIVISION’S CABELA’S® ALASKAN ADVENTURES™ TAKES AIM AT RETAIL STORES NATIONWIDE

Minneapolis, MN – September 22, 2006 – The ultimate hunting and fishing adventure to North America’s last great frontier is at gamers’ fingertips with the release of Cabela’s® Alaskan Adventures™, available now from Activision Publishing, Inc., a wholly owned subsidiary of Activision, Inc. (Nasdaq: ATVI). Designed with the sportsman in mind, the game immerses players in Alaska’s outback and for the first time ever allows them to track trophy animals, fish, hunt birds, ride a dog sled and compete in various outdoor-themed contests.

“In Cabela’s Alaskan Adventures, players set out to capture the ultimate trophy in one of America’s most pristine environments,” states Dave Oxford, Activision Publishing, Inc. “The game features a wide variety of hunting and fishing expeditions that will challenge and entertain even the most seasoned outdoorsmen. This game sets the standard by which all hunting/fishing titles will be measured.”

Players will use a combination of skill and strategy to complete 38 hunting and fishing adventures across 12 vast Alaskan regions from the North Slope to Ketchikan. With more customization than ever before, each adventure begins at an Alaskan outpost where players choose from thousands of gear options including rifles, shotguns, bows and arrows, fishing tackle, clothing, scents, calls and more. Gamers are also able to go exploring or get to their next hunting spot by choosing to ride a snowmobile, truck or ATV. With more than 20 species of the most sought after Alaskan Trophy Game including Yukon Moose, Barren Ground Caribou, Grizzly and Kodiak Bears, Roosevelt Elk, Dall Sheep, Sitka Black-Tailed Deer, and 10 different species of Alaskan fish, including Sockeye Salmon, Dolly Varden and Arctic Char, hunters and fisherman alike will be challenged for hours in the virtual Alaskan wild.

Currently in retail stores nationwide, Cabela’s Alaskan Adventures is the first title for the Xbox 360 video game and entertainment system from Microsoft to combine the thrill of the hunt with the challenge of fishing. The game is also available now for the PlayStation®2. Both versions are rated “T” (Teen) by the ESRB and are available for suggested retail prices of $39.99 for Xbox 360 and $29.99 for Playstation2.

About Cabela’s Incorporated
Cabela’s Incorporated, headquartered in Sidney, Nebraska, is the world’s largest direct marketer, and a leading specialty retailer, of hunting, fishing, camping and related outdoor merchandise. Since the company’s founding in 1961, Cabela’s has grown to become one of the most well-known outdoor recreation brands in the world, and has long been recognized as the World’s Foremost Outfitter. Through Cabela’s well-established direct business and its growing number of destination retail stores, it offers a wide and distinctive selection of high-quality outdoor products at competitive prices while providing superior customer service. Cabela’s also issues the Cabela’s CLUB VISA credit card, which serves as its primary customer loyalty rewards program.

About Activision, Inc.

Headquartered in Santa Monica, California, Activision, Inc. is a leading worldwide developer, publisher and distributor of interactive entertainment and leisure products. Founded in 1979, Activision posted net revenues of $1.47 billion for the fiscal year ended March 31, 2006.

Activision maintains operations in the U.S., Canada, the United Kingdom, France, Germany, Italy, Japan, Australia, Scandinavia, Spain, the Netherlands and South Korea. More information about Activision and its products can be found on the company's World Wide Web site, which is located at www.activision.com.

The statements made in this press release that are not historical facts are “forward-looking statements”. These forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties. The Company cautions readers of this press release that a number of important factors could cause Activision's actual future results to differ materially from those expressed in any such forward-looking statements. Such factors include, without limitation, product delays, retail acceptance of our products, industry competition, rapid changes in technology and industry standards, protection of proprietary rights, litigation and an informal SEC inquiry, maintenance of relationships with key personnel, vendors and third-party developers, international economic and political conditions, integration of recently acquired subsidiaries and identification of suitable future acquisition opportunities. These important factors and other factors that potentially could affect the Company’s financial results are described in our filings with the Securities and Exchange Commission, including the Company’s most recent Annual report on Form 10-K and Quarterly Report on Form 10-Q. Readers of this press release are referred to such filings. The Company may change its intention, belief or expectation, at any time and without notice, based upon any changes in such factors, in the Company’s assumptions or otherwise. The Company undertakes no obligation to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.