MAD CATZ AND FIRE INTERNATIONAL RESPOND TO FRIVOLOUS ELECTRO SOURCE/PELICAN ACCESSORIES LAWSUIT

SAN DIEGO, TORONTO & DONCASTER, England--Feb. 14, 2003--Mad Catz

Interactive, Inc. (AMEX:MCZ) (TSE:MCZ), the world's leading

third-party video game accessory manufacturer, and Fire International

Ltd., a leading intellectual property and technology development firm,

today responded to a lawsuit filed on February 10, 2003 against both

parties by Electro Source, LLC, which does business as Pelican

Accessories. The suit, filed in the Los Angeles Superior Court,

alleges that Mad Catz and U.K.-based, Fire International, Ltd.

competed unfairly with Pelican in the development and marketing of

certain video game products.

Mad Catz and Fire are unaware of any basis for, or facts to

support, the claims made by Pelican, and believe the claims are

completely and entirely baseless and without merit. In particular all

intellectual property being used by Mad Catz in its GameShark products

was either developed independently or acquired by Mad Catz when it

purchased the GameShark brand and the www.gameshark.com Web site URL

from InterAct in January 2003.

Mad Catz and Fire will vigorously defend themselves against the

suit and will seek to recover all costs and expenses imposed on them

by Pelican resulting from the lawsuit. Additionally, both Mad Catz and

Fire are considering filing countersuits against Pelican and its

principals.

Morris Perlis, Mad Catz' CEO, and Jason Cooper, Group Managing

Director of Fire, jointly issued the following statement, "We are

outraged at the claims of Pelican, which are based on total

inaccuracies. This ludicrous lawsuit is baseless and spurious. It is

an offensive attempt to improperly use the courts to achieve an end

that Pelican could not achieve commercially. GameShark was acquired by

Mad Catz in an auction that was fairly and legally conducted. It is an

affront to suggest otherwise. We will be strongly and forcefully

defending this lawsuit and have no doubts of our complete success. We

look forward to presenting the true facts. In particular, any attempt

to intimidate our customers will not be tolerated."

GameShark is the industry leader in video game enhancement

software, which enables players to take full advantage of the secret

codes, short cuts, hints and cheats incorporated by video game

publishers into their game offerings. The highly popular GameShark web

site is one of the highest traffic gaming sites on the Internet. Mad

Catz intends to continue aggressively marketing its new GameShark

brand and looks forward to continued success as the world's leading

third party video game accessory manufacturer.