Grapevine’s GameStop Corp. declares two-for-one stock split

Bond buyback increased by $150 Million

by PegNews wire

GameStop Corp. (NYSE: GME), the world’s largest video game and entertainment software retailer, announced today that its Board of Directors approved a two-for-one stock split of the Company’s common stock to be effected in the form of a stock dividend.

Each shareholder of record at the close of business on February 20, 2007, will receive one additional share of GameStop common stock for every outstanding share held on the record date. The additional shares will be distributed on March 16, 2007.

“As GameStop continues to rapidly grow, we wanted to make our stock more attractive to a broader range of potential investors. This stock split also reinforces the confidence that the Board and I have in the GameStop buy, sell, trade strategy and the future of video game growth worldwide,” indicated R. Richard Fontaine, Chairman and Chief Executive Officer.

The stock split is GameStop’s first since becoming a publicly traded company in February 2002. GameStop had approximately 76 million common shares outstanding as of February 3, 2007. Upon completion of the split, the outstanding shares of GameStop’s common stock will increase to approximately 152 million.

The Board of Directors also authorized an additional $150,000,000 for the buyback of Senior Floating Rate Notes and Senior Notes. The timing and amount of the repurchases will be determined by the company’s management based on their evaluation of market conditions and other factors. In addition, the repurchases may be suspended or discontinued at any time.

About GameStop Corp.

Headquartered in Grapevine, TX, GameStop Corp. is the world’s largest video game and entertainment software retailer. The company operates over 4,600 retail stores across the United States and in fourteen countries worldwide. The company also owns two e-commerce sites, GameStop.com and EBgames.com, and Game Informer(R) magazine, a leading multi-platform video game publication. GameStop Corp. sells new and used video game software, hardware and accessories for next generation video game systems from Sony, Nintendo and Microsoft. In addition, the company sells PC entertainment software, related accessories and other merchandise. General information on GameStop Corp. can be obtained at the company’s corporate website: http://www.gamestop.com/corporate.

Source: BusinessWire.com