Majesco Entertainment Company Announces Resignation Of Chief Financial Officer

EDISON, N.J., Friday, July 30, 2010 -- Majesco Entertainment Company (Nasdaq:COOL - News), an innovative publisher of video games for the mass market, today announced that John Gross is resigning as Executive Vice President, Chief Financial Officer to accept another position effective August 20, 2010. Michael Vesey, Majesco's Senior Vice President, Corporate Controller and Chief Accounting Officer will serve as Acting Chief Financial Officer upon Mr. Gross' departure.

Mr. Vesey joined Majesco in May 2006. Prior to that, he was Chief Financial Officer at Nuvim, Inc., a maker of dietary supplement beverages. Mr. Vesey's experience includes over twenty years of senior financial management positions in the software and wireless industries. He is a certified public accountant and holds a BBA from Pace University.

"John has provided strong financial leadership to the company for the last five years, effectively managing the balance sheet, reducing operating costs and helping guide us towards improved profitability," said Jesse Sutton, Majesco's Chief Executive Officer and a member of the Board of Directors. "He's done a great job representing the Company and we thank him for his service. Mike has worked closely with John and will have an easy transition to his role as Interim CFO," Sutton concluded.

"We have worked as a management team to put an operating plan in place to continue to improve the performance of the Company and grow profitability. I wish the Company and the management team all the best in the future," said Gross.