Mad Catz Reports on Results of Annual and Special Meeting of Shareholders



    - Intends to Modify Proposed Employee Stock Option Plan for Shareholder
Vote on October 2, 2007 -

    SAN DIEGO, September 10 /CNW/ - Mad Catz Interactive, Inc. (AMEX/TSX:
MCZ), a leading third-party interactive entertainment accessory provider,
today reported on the results of its September 7, 2007 Annual and Special
Meeting of Shareholders.

    At the meeting, each of the five director nominees -- Geofrey Myers,
Darren Richardson, Thomas R. Brown, Robert J. Molyneaux and William Woodward
-- was elected to the Company's Board of Directors for a one-year term until
the 2008 Annual Meeting of Shareholders. The five member board includes four
directors who are considered independent under the corporate governance
standards of the American Stock Exchange. Shareholders also appointed KPMG,
LLP as the Company's Independent Registered Public Accounting Firm and Auditor
with authorization to the Company's Board of Directors to fix the remuneration
of the auditor. The Company adjourned the meeting until October 2, 2007, at
which time the proposal relating to the adoption of the Mad Catz Interactive,
Inc. Stock Option Plan - 2007 and the grant under that plan of options to
purchase 1,000,000 shares of common stock will be considered. Additionally,
the Company has withdrawn the proposal to extend the term of exercise for
certain outstanding stock options previously granted by the Company.

    Geofrey Myers, Non-Executive Chairman of the Board commented, "The Mad
Catz Interactive, Inc. Stock Option Plan - 2007, as initially proposed, was
conditionally approved by the Toronto Stock Exchange. However, prior to the
meeting, an independent proxy advisory firm made recommendations against the
proposed plan. By adjourning the meeting until October 2, the Company and the
Board will have the opportunity to evaluate and modify, as needed, the
proposed employee stock option plan to address the proxy advisory firm's
objections. We are hopeful that in doing so, the new, revised plan will be
approved by our shareholders. We believe approval of the plan is important to
promote the long-term success of the Company and creation of additional
shareholder value by incentivizing key employees and using option grants under
the plan as a component of the overall compensation package."

    About Mad Catz Interactive, Inc.

    Mad Catz is a leading provider of innovative peripherals for the
worldwide interactive entertainment industry. Mad Catz designs and markets
accessories for video game systems and publishes video game software,
including the industry leading GameShark brand of video game enhancements. Mad
Catz has distribution through most leading retailers offering interactive
entertainment products. Mad Catz has its operating headquarters in San Diego,
California and offices in Canada, Europe and Asia. For additional information
go to www.madcatz.com.

    Safe Harbor for Forward Looking Statements: This press release contains
forward-looking statements about the Company's business prospects that involve
substantial risks and uncertainties. The Company assumes no obligation to
update the forward-looking statements contained in this press release as a
result of new information or future events or developments except as required
by law. You can identify these statements by the fact that they use words such
as "anticipate," "estimate," "expect," "project," "intend," "should," "plan,"
"goal," "believe," and other words and terms of similar meaning in connection
with any discussion of future operating or financial performance. Among the
factors that could cause actual results to differ materially are the
following: the ability to maintain or renew the Company's licenses;
competitive developments affecting the Company's current products; first party
price reductions; the ability to successfully market both new and existing
products domestically and internationally; difficulties or delays in
manufacturing; or a downturn in the market or industry. A further list and
description of these risks, uncertainties and other matters can be found in
the Company's reports filed with the Securities and Exchange Commission and
the Canadian Securities Administrators.




For further information:

For further information: Mad Catz Interactive, Inc. Stewart Halpern,
800-831-1442 Chief Financial Officer or Jaffoni & Collins Incorporated Joseph
Jaffoni or David Jacoby, 212-835-8500 mcz@jcir.com

Organization Profile

MAD CATZ INTERACTIVE, INC.

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