GRAPEVINE, Texas--(BUSINESS WIRE)--May 18, 2006--GameStop Corp. (NYSE:GME)(NYSE:GME.B) announced today the commencement of the exchange offer of its and GameStop, Inc.'s $300,000,000 Senior Floating Rate Notes due 2011 and $650,000,000 8% Senior Notes due 2012, each registered under the Securities Act of 1933, as amended, for all of its and GameStop, Inc.'s outstanding $300,000,000 Senior Floating Rate Notes due 2011 and $650,000,000 8% Senior Notes due 2012 sold on September 28, 2005 pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended. The exchange offer will expire at 5:00 p.m. New York City time on June 16, 2006, unless extended.

The company also announced today that its Board of Directors has authorized the buyback of up to an aggregate of $100,000,000 of its 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.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any notes or any other securities, nor will there be any sale of the notes or any other security in any jurisdiction in which such an offer or sale would be unlawful.

About GameStop Corp.

Headquartered in Grapevine, TX, GameStop Corp. (NYSE:GME)(NYSE:GME.B) is the world's largest video game and entertainment software retailer. The company operates 4,565 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/investor-relations/.

Safe Harbor

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, the company's plans, objectives, expectations and intentions and other statements that are not historical facts. Such statements are based upon the current beliefs and expectations of GameStop's management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. Factors that could cause GameStop's results to differ materially from those described in the forward-looking statements can be found in GameStop's Annual Report on Form 10-K for the fiscal year ended January 28, 2006 filed with the SEC and available at the SEC's Internet site at http://www.sec.gov.

    CONTACT: Media Contact:
             Chris Olivera
             Director, Public & Media Relations
             GameStop Corp.
             (817) 424-2130
             or
             Investor Contact:
             David W. Carlson
             Executive Vice President & Chief Financial Officer
             GameStop Corp.
             (817) 424-2130

    SOURCE: GameStop Corp.