Operational Merger

Infogrames is belatedly merging operations at the former GT Interactive with its own North American subsidiary. The confusing transaction has Infogrames SA merging the operations of wholly-owned subsidiary Infogrames North America with those of a new, wholly-owned subsidiary of majority owned subsidiary Infogrames, Inc. (the former GT Interactive). The joined company will continue to trade on the Nasdaq under Infogrames, Inc.'s symbol, GTIS. "We believe that this will continue to strengthen the Infogrames global family, and more specifically our North American presence, by combining the two organizations into one industry power," said Infogrames CEO Bruno Bonnell. The merger is expected to close on October 2.