GameStop Reaches Agreement to Acquire New Zealand's Gamesman Video Game Chain

GRAPEVINE, Texas--(BUSINESS WIRE)--GameStop Corp. (NYSE: GME), the world's largest video game and entertainment software retailer, today announced that it has entered into an agreement to purchase The Gamesman, New Zealand’s largest independent gaming specialist.

“We are very excited about the union of EB Games and Gamesman. Both companies and their staff have a passion for games and now we can bring together the best of both retailers to offer our customers the finest in service and products, both new and pre-owned.”

The eight Gamesman video game stores will expand GameStop’s presence in New Zealand to a total of 38 stores, bringing the total store count to 308 in Australia and New Zealand. GameStop operates over 5,400 locations worldwide under the GameStop and EB Games brands.

Stephen Wilson, Managing Director, EB Games New Zealand and Australia commented, “We are very excited about the union of EB Games and Gamesman. Both companies and their staff have a passion for games and now we can bring together the best of both retailers to offer our customers the finest in service and products, both new and pre-owned.”

Phil McPhee, General Manager at The Gamesman, remarked, “We would like to thank our customers and staff for their support. This move will enhance the service and experience for customers, and our staff will benefit from the support structure and career opportunities available through GameStop.”

Subject to the satisfaction of customary closing conditions, the transaction is expected to close in mid-July, 2008.

About GameStop Corp.

Headquartered in Grapevine, Texas, GameStop Corp. is the world's largest video game and entertainment software retailer. The company operates 5,453 retail stores in 16 countries worldwide. The company also operates two e-commerce sites, GameStop.com and EBgames.com, and publishes Game Informer(R) magazine, a leading multi-platform video game publication. GameStop Corp. sells new and used video game software, hardware and accessories for video game systems from Sony, Nintendo, and Microsoft. In addition, the company sells PC entertainment software, related accessories and other merchandise. General information on GameStop Corp. can be obtained at the company's corporate website: www.gamestopcorp.com.

General information on the company’s operations worldwide can be obtained at www.gamestop.eu.

About The Gamesman Limited

Headquartered in Auckland, The Gamesman is New Zealand’s largest independent gaming specialist with online and retail stores located through the country. General information can be obtained at www.gamesman.co.nz/

Safe Harbor

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include the company's plans, objectives, expectations and intentions and other statements that are not historical facts. Such statements are based upon the current beliefs and expectations of GameStop's management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: the inability to close the transaction if closing conditions are not satisfied; the inability to successfully integrate the acquired company; the inability to obtain sufficient quantities of product to meet consumer demand, including Nintendo's Wii; the timing of release of video game titles for next generation consoles; the risks associated with expanded international operations; and economic and other events that could reduce or impact consumer demand. Additional factors that could cause GameStop's results to differ materially from those described in the forward-looking statements can be found in GameStop's Annual Report on Form 10-K for the fiscal year ended February 2, 2008 filed with the SEC and available at the SEC's Internet site at http://www.sec.gov.