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Increased Fiscal Performance Prompts Take-Two to Raise Guidance for 2002

Take-Two announced that its fiscal performance in the current quarter has been better than expected and that it may raise guidance for the full fiscal year.

“Our first quarter…is playing out to be stronger than we thought it would be,” said Kelly Sumner, CEO of Take-Two. “There is a likelihood at some stage we’d re-guide the whole year.” The average estimate of 14 brokers surveyed by Thomson Financial/First Call is for earnings per share of $1.16 in the fiscal year ending October 31, 2001.

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