attention to detail and ability to recognize what makes games compelling. While the success of the  Grand Theft Auto franchise is extremely rewarding, creating a blockbuster of this magnitude also affords Take-Two an invaluable base of knowledge and expertise. During fiscal 2003, Take-Two took significant steps to share and leverage internal resources and experiences to create a more integrated and seamless publishing operation. Our Rockstar Games, Gathering and Global Star Software publishing labels have been streamlined to tap Rockstar’s knowledge,  Rockstar’s unique market position is com- plemented by Gathering’s focus on pub- lishing premium and mid-priced products on PC, console and handheld platforms. We firmly believe demand for our premi- um priced games such as  Grand Theft Auto, Max Payne, Midnight Club, Manhunt,  and Mafia will continue to grow as the installed base of video game plat- forms increases – creating more con- sumers for our products. Global Star Additionally, with gradual reductions in hardware pricing and the resulting increased penetration of video game plat- forms, there is a much greater opportuni- ty to attract a more diverse and, at times, price conscious gamer. Jack of All Games’ success in distributing budget- priced titles has proven that the value segment of the software market is a desir- able long-term business. Accordingly, our Global Star label is publishing games that combine value pricing with compelling game play and is distributing these titles exclusively through Jack of All Games, Global Star Software publishes value-priced entertainment software across all platforms. Cor Global Star franchises include the hit Outlaw sports series (under license from MTV);the Tycoon franchise, including  School Tycoon ,  Airport Tycoon 3 and  Mall Tycoon 2 ; Motocr oss Mania ; and  Army Men . In addition to original content, Global Star manages the jewel case and value compilation business for all Take-T wo PC products.  4