Activision, Inc. — 2004 Annual Report Notes to Consolidated Financial Statements Activity of Employee and Director Options and Warrants page 70 Outstanding Options Exercisable Options Remaining Wtd. Avg. Contractual Life Wtd. Avg. Wtd. Avg. Shares (in years) Exercise Price Shares Exercise Price Range of exercise prices: $ 1.41 to $ 2.81 3,048 6.08 $ 1.88 2,784 $ 1.87 $ 2.93 to $ 3.11 6,205 5.00 3.11 6,119 3.11 $ 3.13 to $ 6.01 7,001 6.37 4.89 3,116 3.95 $ 6.08 to $ 6.29 5,363 7.45 6.25 3,018 6.23 $ 6.30 to $ 7.85 4,277 8.44 7.19 1,129 7.36 $ 7.94 to $10.20 5,270 8.50 9.79 985 9.77 $10.30 to $12.27 4,783 8.11 11.97 2,285 12.07 $12.29 to $14.23 666 8.68 13.36 157 13.35 $14.46 to $14.46 18 8.14 14.46 5 14.46 $14.77 to $14.77 7 8.18 14.77 2 14.77 36,638 7.09 $ 6.59 19,600 $ 5.26 2004 2003 2002 Wtd. Avg. Wtd. Avg. Wtd. Avg. Shares Ex. Price Shares Ex. Price Shares Ex. Price Outstanding at beginning of year 36,710 $6.35 28,943 $4.17 40,311 $2.87 Granted 6,795 7.22 14,423 9.48 9,246 7.25 Exercised (4,585) 4.87 (5,675) 3.22 (19,533) 2.99 Forfeited (2,282) 8.07 (981) 5.77 (1,081) 3.27 Outstanding at end of year 36,638 $6.59 36,710 $6.35 28,943 $4.17 Exercisable at end of year 19,600 $5.26 17,244 $4.29 14,252 $3.67 common shares per common stock purchase date. During the year ended March 31, 2004, employees purchased approximately 242,300, 60,000 and 255,300 shares at a price of $5.48, $7.06 and $5.48 per share, respec- tively, within the 2002 Purchase Plans’ Offering Periods. Prior to the 2002 Purchase Plans, we had an employee stock purchase plan for all eligible domestic employees (the “Prior Purchase Plan”). Under the Prior Purchase Plan, shares of our common stock could be purchased at six-month intervals at 85% of the lower of the fair market value on the first or last day of each six-month period. Employees could purchase shares having a value not exceeding 10% of their gross compensation during each six-month period. Employees purchased approximately 114,750 and 209,250 shares at a price of $9.47 and $5.57 per share  during the six months ended September 30, 2002 and March 31, 2003, respectively. The Prior Purchase Plan expired on March 31, 2003. Activity of all employee and director options and warrants during the last three fiscal years was as follows (amounts in thousands, except weighted average exercise price amounts): For the years ended March 31, 2004, 2003 and 2002, all options were granted at an exercise price equal to the fair market value on the date of grant. The following tables summarize information about all employee and director stock options and warrants outstanding as of March 31, 2004 (share amounts in thousands):