Majesco Entertainment and Disney Interactive Collaborate on Upcoming Video Game Release for Phineas and Ferb

Original Multiplatform Game to Release in 2013

EDISON, NJ  - January 8, 2013 - Majesco Entertainment Company (NASDAQ: COOL), an innovative provider of games for the mass market, announced today a relationship with Disney Interactive to start development of original video games based on the animated hit Disney television series Phineas and Ferb.

"We are thrilled to be teaming up with Disney to bring a new Phineas and Ferb game to market across multiple platforms," said Jesse Sutton, Chief Executive Officer, Majesco Entertainment. "Phineas and Ferb is known for fun-filled adventures and hilarious gags that appeal to a universal audience, and we're creating a game that leverages the characters and brand attributes of the highly successful series."

The new game will be developed for retail consoles and gaming handhelds, including smartphones and tablets, and is scheduled for release in August 2013.

For more information on Majesco Entertainment, please visit www.majescoent.com, 'Like' us on Facebook or follow the company on Twitter @Majesco.

About Disney Interactive Media Group

Disney Interactive, one of the world's largest creators of high-quality interactive entertainment across all platforms, is the part of The Walt Disney Company responsible for the global creation and delivery of interactive entertainment, multi-platform video games, and family-focused content across all current and emerging digital media platforms.  Disney Interactive produces and distributes a broad portfolio of content from Disney Interactive Games and Disney Interactive Media.  Products and content released and operated by Disney Interactive include blockbuster mobile, social and console games, online virtual worlds, #1 kid's entertainment destination Disney.com and the #1 Family/Parenting portfolio on the Web.

Disney Interactive is the interactive entertainment part of The Walt Disney Company (NYSE: DIS).

About Majesco Entertainment Company

Majesco Entertainment Company is a leading developer and 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 all leading console and handheld platforms as well as online, social networks and mobile devices.  Product highlights include Zumba® Fitness, Cooking Mama™ and NBA Baller Beats™. The company's shares are traded on the Nasdaq Stock Market under the symbol: COOL.   Majesco is headquartered in Edison, NJ with offices in San Francisco, CA, Brockhampton, UK, and a social games development studio in Foxboro, MA.  More info can be found online at majescoent.com or on Twitter @Majesco.