ELBO Electronics Boutique Hldgs (MM)

Electronics Boutique Signs Definitive Agreement to Acquire Spanish Retailer Jump Ordenadores S.L.U. ~ Provides Entry into the Spanish Marketplace ~ ~ Continues Aggressive European Expansion ~ WEST CHESTER, Pa., May 23 /PRNewswire-FirstCall/ -- Electronics Boutique Holdings Corp. (NASDAQ:ELBO), the leading global specialty retailer of video games and related products, today announced it has signed a definitive agreement to acquire privately held Jump Ordenadores S.L.U. ("Jump"). The acquisition of Jump provides Electronics Boutique entry into the Spanish marketplace and continues Electronics Boutique's aggressive international expansion. Terms of the transaction have not been disclosed. The deal is currently expected to close during the second quarter of fiscal 2006. Based in Valencia, Spain, Jump operates 141 stores located primarily in central business districts throughout several Spanish provinces. The stores currently sell PCs and related products, software, digital cameras, and other electronic products. Electronics Boutique plans to begin introducing video game hardware and software into the stores over the next several months. Jeffrey Griffiths, President and Chief Executive Officer, stated, "Extending our proven business model into international markets has long been one of our key strategic initiatives. As such, we are very pleased that we will have an established foothold in Spain, the fourth largest video game market in Europe. The management team at Jump consists of strong retailers with many years of experience in the Spanish market, making them ideal partners for this next phase of our international growth." As previously announced on April 18, 2005, Electronics Boutique and GameStop Corp. ("GameStop") entered into a definitive agreement and plan of merger that will create a leading video game retailer with over 4,000 stores worldwide. This transaction is subject to certain regulatory and shareholder approvals and is currently expected to close in the third quarter of fiscal 2006. About Electronics Boutique Holdings Corp. Electronics Boutique, a Fortune 1000 company, is the leading global specialty retailer dedicated exclusively to video game hardware and software, PC entertainment software, accessories and related products. As of April 30, 2005, the company operated 2,071 stores in the United States, Australia, Canada, Denmark, Germany, Italy, New Zealand, Norway, Puerto Rico and Sweden -- primarily under the names EB Games and Electronics Boutique. The company operates an e-commerce website at http://www.ebgames.com/. Additional company information is available at http://www.ebholdings.com/. This release contains forward-looking statements, including statements by Jeffrey Griffiths and those related to the proposed acquisition of Jump and proposed merger with GameStop. Forward-looking statements refer to expectations, projections and other characterizations of future events or circumstances and are often identified by the use of words such as "may," "will," "expect," "believe," "anticipate," "intend," "could," "estimated," "continue" or comparable terminology. In addition to factors specified in Electronics Boutique's recent filings with the Securities and Exchange Commission, there are other factors that could cause actual results to materially differ from those expressed or implied in these forward-looking statements, such as the schedule and sell-through for new hardware and software releases, consumer demand for video game hardware and software, the timing of the introduction of new generation hardware systems, pricing changes by key vendors for hardware and software and the timing of any such changes, the adequacy of supplies of new and pre-played products, currency fluctuations, increased competition and promotional activity from other retailers, the availability of locations for, and timing of the opening of, new domestic and international stores, the fulfillment of the conditions necessary to complete the acquisition of Jump and the merger with GameStop, and the ability to successfully integrate Jump's business with Electronics Boutique's existing operations. In light of the risks and uncertainties inherent in the forward-looking statements, these statements should not be regarded as a representation by Electronics Boutique or any other person that the projected results, objectives or plans will be achieved. Electronics Boutique undertakes no obligation to revise or update the forward-looking statements to reflect events or circumstances after the date hereof. DATASOURCE: Electronics Boutique Holdings Corp. CONTACT: James A. Smith, Chief Financial Officer, Electronics Boutique Holdings Corp., +1-610-430-8100; or Financial Dynamics: Investors: Cara O'Brien or Melissa Myron, or Media: Melissa Merrill, +1-212-850-5600 Web site: http://www.ebgames.com/ http://www.ebholdings.com/

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