Activision, Inc. — 2004 Annual Report Corporate Information Officers Transfer Agent Auditor Forward-Looking Statements  World Wide Web Site  E-Mail  Corporate Headquarters Corporate Counsel Bank Annual Meeting  Domestic Offices Board of Directors  International Offices  Annual Report on Form 10-K  Robert A. Kotick Chairman and  Chief Executive Officer Brian G. Kelly Co-Chairman Ronald Doornink President, Activision, Inc. and  Chief Executive Officer,  Activision Publishing, Inc. Kathy P. Vrabeck President, Activision Publishing William J. Chardavoyne Chief Financial Officer and Executive Vice President Michael J. Rowe Executive Vice President, Human Resources Richard A. Steele President, Activision Distribution  and Executive Vice President, International Distribution George L. Rose Senior Vice President, Business and Legal Affairs, General Counsel and Secretary Robert A. Kotick Chairman and  Chief Executive Officer Brian G. Kelly Co-Chairman Ronald Doornink President, Activision, Inc. and  Chief Executive Officer,  Activision Publishing, Inc. Robert J. Corti Chief Financial Officer, Avon Products, Inc. Kenneth L. Henderson Partner, Bryan Cave LLP Barbara S. Isgur Former Senior Vice President, Stratagem Robert J. Morgado Chairman, Maroley Media Group Peter J. Nolan Managing Partner, Leonard Green & Partners, L.P. Continental Stock Transfer & Trust Company 17 Battery Place New York, New York 10004 (212) 509-4000 PricewaterhouseCoopers LLP Los Angeles, California US Bank Los Angeles, California Bryan Cave LLP New York, New York Activision, Inc. 3100 Ocean Park Boulevard  Santa Monica, California 90405 (310) 255-2000 Dallas, Texas Eagan, Minnesota Eden Prairie, Minnesota Encino, California Hayward, California Los Angeles, California Madison, Wisconsin New York, New York San Francisco, California Woodland Hills, California Bezons, France Birmingham, United Kingdom Breda, The Netherlands Burglengenfeld, Germany Legnano, Italy Madrid, Spain Ontario, Canada Slough, United Kingdom Stockholm, Sweden Sydney, Australia Tokyo, Japan Venlo, The Netherlands The statements contained in this report that are not historical facts are  “forward-looking statements.” The company cautions readers of this report that a number of important factors could cause Activision’s actual future results to differ materially from those expressed in any such forward- looking statements. These important factors, and other factors that could affect Activision, are described  in Activision’s Annual Report on  Form 10-K for the fiscal year ended March 31, 2004, which was filed with the United States Securities and Exchange Commission. Readers of this Annual Report are referred to this filing. http://www.activision.com IR@activision.com September 21, 2004  The Peninsula Hotel  9882 South Santa Monica Blvd. Beverly Hills, California 90212 Activision’s Annual Report on Form 10-K for the year ended March 31, 2004 is available to shareholders without charge upon request from our corporate offices. Spider-Man and all related Marvel characters, GLYPH<H23043> & © 2004 Marvel Characters, Inc. Spider-Man 2, the movie,  © 2004 Columbia Pictures Industries, Inc. All rights reserved. Shrek is a registered trademark of DreamWorks L.L.C. Shrek 2, Shrek Ear Design and Shrek “S”  GLYPH<H23043> &  © 2004 DreamWorks L.L.C. All rights reserved. MARVEL, Spider-Man and X-MEN, and the distinctive likenesses thereof are trademarks of Marvel Characters, Inc., and are used with permission. Copyright © 2000 Marvel Characters, Inc. All rights reserved. www.marvel.com. The images used in this annual report were produced under license from Marvel Characters, Inc. Designed by Curran & Connors, Inc. / www.curran-connors.com