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Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0000950123-05-010725.txt : 20050902
<SEC-HEADER>0000950123-05-010725.hdr.sgml : 20050902
<ACCEPTANCE-DATETIME>20050902171247
ACCESSION NUMBER:		0000950123-05-010725
CONFORMED SUBMISSION TYPE:	DEF 14A
PUBLIC DOCUMENT COUNT:		10
CONFORMED PERIOD OF REPORT:	20051006
FILED AS OF DATE:		20050902
DATE AS OF CHANGE:		20050902
EFFECTIVENESS DATE:		20050902

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ELECTRONICS BOUTIQUE HOLDINGS CORP
		CENTRAL INDEX KEY:			0001057746
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-COMPUTER & COMPUTER SOFTWARE STORES [5734]
		IRS NUMBER:				510379406
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0131

	FILING VALUES:
		FORM TYPE:		DEF 14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-24603
		FILM NUMBER:		051068569

	BUSINESS ADDRESS:	
		STREET 1:		103 FOULK ROAD
		STREET 2:		STE 202
		CITY:			WILMINGTON
		STATE:			DE
		ZIP:			19803
		BUSINESS PHONE:		6104308100

	MAIL ADDRESS:	
		STREET 1:		931 MATLACK ST
		CITY:			WEST CHESTER
		STATE:			PA
		ZIP:			19382
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEF 14A
<SEQUENCE>1
<FILENAME>y09199edef14a.htm
<DESCRIPTION>DEFINITIVE PROXY MATERIAL
<TEXT>
<HTML>
<HEAD>
<TITLE>ELECTRONICS BOUTIQUE HOLDINGS CORP.</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>
<P align="center"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D.C. 20549<br><br>
SCHEDULE 14A<BR>(Rule 14a-101)<br>
<br>
INFORMATION REQUIRED IN PROXY STATEMENT</B>


<P align="center"><B>SCHEDULE 14A INFORMATION</B>

<P align="center"><B>PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE SECURITIES<BR>
EXCHANGE ACT OF 1934 (AMENDMENT NO.
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;)</B>

<P>Filed by the Registrant [X]<BR>

Filed by a Party other than the Registrant [ &nbsp;&nbsp;]

<P>Check the appropriate box:

<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%" align="center">
<TR valign="bottom">
        <TD width="6%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="40%">&nbsp;</TD>
        <TD width="6%">&nbsp;</TD>
        <TD width="6%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="40%">&nbsp;</TD>
</TR>


<TR valign="bottom">
        <TD valign="top"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="3">[&nbsp;&nbsp;]</FONT></DIV></TD>
        <TD></TD>
        <TD  align="left" valign="top"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="3">
Preliminary Proxy Statement
</FONT></DIV></TR>

<TR><TD><TR><TD><TR><TD><TR><TD>
<TR valign="bottom">
        <TD valign="top"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="3">[&nbsp;&nbsp;]</FONT></DIV></TD>
        <TD></TD>
        <TD  align="left" valign="top" nowrap colspan="4"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="3">
Confidential, for Use of the
Commission Only (as permitted by
Rule 14a-6(e)(2))</FONT></DIV></TD>
</TR>




<TR><TD><TR><TD><TR><TD><TR><TD>
<TR valign="bottom">

<TD valign="top"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="3">[X]</FONT></DIV></TD>
        <TD></TD>
        <TD  align="left" valign="top"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="3">
Definitive Proxy Statement</FONT></DIV></TD>
</TR>
<TR><TD><TR><TD><TR><TD><TR><TD>
<TR valign="bottom">

<TD valign="top"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="3">[&nbsp;&nbsp;]</FONT></DIV></TD>
        <TD></TD>
        <TD  align="left" valign="top"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="3">
Definitive Additional Materials</FONT></DIV></TD>
</TR>
<TR><TD><TR><TD><TR><TD><TR><TD>
<TR valign="bottom">
        <TD valign="top"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="3">[&nbsp;&nbsp;]</FONT></DIV></TD>
        <TD></TD>
        <TD  align="left" valign="top" nowrap colspan="4"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="3">
Soliciting Material Pursuant to
Section&nbsp;240.14a-11(c) or Section&nbsp;240.14a-2.</FONT></DIV></TD>
</TR>
</TABLE>
</CENTER>
<P align="center"><B>ELECTRONICS BOUTIQUE HOLDINGS CORP.</B>

<HR size="1">




<div align="center">(Name of Registrant as Specified In Its
Charter)</div>
<br><br><br>
<HR size="1">


<div align="center">(Name of Person(s) Filing Proxy Statement, if
other than Registrant)</div>

<P>Payment of Filing Fee (Check the appropriate box):

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="6%">[X]</TD>
        <TD width="1%" align="left">&nbsp;</TD>
        <TD width="93%">No fee required.</TD>
</TR>
</TABLE>
<P>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="6%">[ &nbsp;&nbsp;]</TD>
        <TD width="1%" align="left">&nbsp;</TD>
        <TD width="93%">Fee computed on table below per Exchange Act Rules&nbsp;14a-6(i)(4) and 0-12.</TD>
</TR>
</TABLE>
<P>



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="7%">&nbsp;</TD>
        <TD width="4%" align="left">(1)</TD>
        <TD width="89%">Title of each class of securities to which transaction applies:</TD>
</TR>
</TABLE>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<P>
<TR valign="top">
        <TD width="4%">&nbsp;</TD>
        <TD width="1%" align="left"></TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="92%"><HR size="1"></TD>
</TR>
</TABLE>







<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="7%">&nbsp;</TD>
        <TD width="4%" align="left">(2)</TD>
        <TD width="89%">Aggregate number of securities to which transaction applies:</TD>
</TR>
</TABLE>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<P>
<TR valign="top">
        <TD width="4%">&nbsp;</TD>
        <TD width="1%" align="left"></TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="92%"><HR size="1"></TD>
</TR>
</TABLE>





<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="7%">&nbsp;</TD>
        <TD width="4%" align="left">(3)</TD>
        <TD width="89%">Per unit price or other underlying value of transaction computed
pursuant to Exchange Act Rule&nbsp;0-11 (Set forth the amount on which the
filing fee is calculated and state how it was determined):</TD>
</TR>
</TABLE>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<P>
<TR valign="top">
        <TD width="4%">&nbsp;</TD>
        <TD width="1%" align="left"></TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="92%"><HR size="1"></TD>
</TR>
</TABLE>



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="7%">&nbsp;</TD>
        <TD width="4%" align="left">(4)</TD>
        <TD width="89%">Proposed maximum aggregate value of transaction:</TD>
</TR>
</TABLE>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<P>
<TR valign="top">
        <TD width="4%">&nbsp;</TD>
        <TD width="1%" align="left"></TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="92%"><HR size="1"></TD>
</TR>
</TABLE>




<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="7%">&nbsp;</TD>
        <TD width="4%" align="left">(5)</TD>
        <TD width="89%">Total fee paid:</TD>
</TR>
</TABLE>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<P>
<TR valign="top">
        <TD width="4%">&nbsp;</TD>
        <TD width="1%" align="left"></TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="92%"><HR size="1"></TD>
</TR>
</TABLE>




<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="6%" align="left">[ &nbsp;&nbsp;]</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="93%"> Fee paid previously with preliminary materials.</TD>
</TR>
<TR>
        <TD>&nbsp;</TD>
</TR>
<TR valign="top">
        <TD width="6%" align="left">[ &nbsp;&nbsp;]</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="93%"> Check box if any part of the fee is offset as provided by Exchange Act Rule
0-11(a)(2) and identify the filing for which the offsetting fee was paid
previously. Identify the previous filing by registration statement number,
or the Form or Schedule and the date of its filing.</TD>
</TR>
</TABLE>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="7%">&nbsp;</TD>
        <TD width="4%" align="left">(1)</TD>
        <TD width="89%">Amount Previously Paid:</TD>
</TR>
</TABLE>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<P>
<TR valign="top">
        <TD width="4%">&nbsp;</TD>
        <TD width="1%" align="left"></TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="92%"><HR size="1"></TD>
</TR>
</TABLE>





<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="7%">&nbsp;</TD>
        <TD width="4%" align="left">(2)</TD>
        <TD width="89%">Form, Schedule or Registration Statement No.:</TD>
</TR>
</TABLE>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<P>
<TR valign="top">
        <TD width="4%">&nbsp;</TD>
        <TD width="1%" align="left"></TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="92%"><HR size="1"></TD>
</TR>
</TABLE>




<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="7%">&nbsp;</TD>
        <TD width="4%" align="left">(3)</TD>
        <TD width="89%">Filing Party:</TD>
</TR>
</TABLE>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<P>
<TR valign="top">
        <TD width="4%">&nbsp;</TD>
        <TD width="1%" align="left"></TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="92%"><HR size="1"></TD>
</TR>
</TABLE>




<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="7%">&nbsp;</TD>
        <TD width="4%" align="left">(4)</TD>
        <TD width="89%">Date Filed:</TD>
</TR>
</TABLE>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<P>
<TR valign="top">
        <TD width="4%">&nbsp;</TD>
        <TD width="1%" align="left"></TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="92%"><HR size="1"></TD>
</TR>
</TABLE>






<P align="center">

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV align="left" style="font-size: 10pt;">
<A name='101'></A>
</DIV>

<!-- link1 "TO THE STOCKHOLDERS OF GAMESTOP CORP. AND ELECTRONICS BOUTIQUE HOLDINGS CORP." -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>TO THE STOCKHOLDERS OF</B>
</DIV>

<DIV align="center" style="font-size: 10pt;">
<B>GAMESTOP CORP. AND</B>
</DIV>

<DIV align="center" style="font-size: 10pt;">
<B>ELECTRONICS BOUTIQUE HOLDINGS CORP.</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>YOUR VOTE IS VERY IMPORTANT</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
GameStop Corp. (GameStop) and Electronics Boutique Holdings
Corp. (EB)&nbsp;have entered into a merger agreement whereby
separate subsidiaries of a newly formed holding company named
GSC Holdings Corp. (Holdco) will be merged with and into
GameStop and EB, respectively, and GameStop and EB will become
wholly-owned subsidiaries of Holdco. Holdco will be renamed
GameStop Corp. upon completion of the mergers. Holdco is
expected to be one of the leading retailers of video games in
the world, initially with over $4.0&nbsp;billion in annual
revenues and with approximately 4,300 retail stores in the
United States, Puerto Rico, Guam, Australia, Canada, Denmark,
Finland, Germany, Ireland, Italy, New Zealand, Norway, Spain,
Sweden, Switzerland and the United Kingdom.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In the proposed mergers, EB common stockholders will have the
right to receive $38.15 in cash and .78795 of a share of Holdco
Class&nbsp;A common stock for each share of EB common stock that
they own. In addition, GameStop stockholders will receive one
share of Holdco Class&nbsp;A common stock for each share of
GameStop Class&nbsp;A common stock that they own and one share
of Holdco Class&nbsp;B common stock for each share of GameStop
Class&nbsp;B common stock that they own. Upon completion of the
mergers, we estimate that Holdco will have outstanding
approximately 41.8&nbsp;million shares of Holdco Class&nbsp;A
common stock and 29.9&nbsp;million shares of Holdco Class&nbsp;B
common stock and that EB&#146;s former stockholders will own
approximately 27.9%, or approximately 5.9% of the combined
voting power, and former GameStop stockholders will own
approximately 72.1%, or approximately 94.1% of the combined
voting power, of the common stock of Holdco. We have applied for
the Holdco Class&nbsp;A and Class&nbsp;B common stock to be
quoted on the New&nbsp;York Stock Exchange (the NYSE) under the
symbols &#147;GME&#148; and &#147;GME.B,&#148; respectively.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
We will each hold an annual meeting of stockholders at which we
will ask our respective common stockholders to adopt the merger
agreement. Other business will also be considered at each of the
annual meetings. Information about these meetings, the mergers
and other business to be considered by GameStop and EB
stockholders is contained in this joint proxy
statement-prospectus. <B>In particular, see &#147;Risk
Factors&#148; beginning on page&nbsp;18.</B> We urge you to read
this joint proxy statement-prospectus, and the documents
incorporated by reference into this joint proxy
statement-prospectus, carefully and in their entirety.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><I>Whether or not you plan to attend your annual meeting,
please vote as soon as possible to make sure that your shares
are represented at that meeting. If you do not vote, it will
have the same effect as voting against the adoption of the
merger proposal.</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
After careful consideration each of our boards of directors has
approved the merger agreement and has determined that the merger
agreement and the mergers are advisable and in the best
interests of the stockholders of GameStop and EB, respectively.
<B>Accordingly, the GameStop board of directors unanimously
recommends that the GameStop stockholders vote:</B>
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    <B>FOR the adoption of the merger agreement and the transactions
    contemplated thereby, including the GameStop merger, FOR the
    amendment to GameStop&#146;s certificate of incorporation, and
    FOR the amendment to the GameStop Amended and Restated 2001
    Incentive Plan,</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    <B>FOR the adoption of the Holdco 2005 Incentive Plan,</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    <B>FOR the election of the GameStop nominees for director named
    in this joint proxy statement-prospectus, and</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    <B>FOR the ratification of BDO Seidman, LLP as GameStop&#146;s
    registered independent public accounting firm for
    GameStop&#146;s fiscal year ending January&nbsp;28, 2006.</B></TD>
</TR>

</TABLE>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>The EB board of directors unanimously recommends that the EB
stockholders vote:</B>
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    <B>FOR the adoption of the merger agreement and the transactions
    contemplated thereby, including the EB merger,</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    <B>FOR the adoption of the Holdco 2005 Incentive Plan,</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    <B>FOR the election of the EB nominees for director named in
    this joint proxy statement-prospectus, and</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    <B>FOR the ratification of KPMG LLP as EB&#146;s registered
    independent public accounting firm for EB&#146;s fiscal year
    ending January&nbsp;28, 2006.</B></TD>
</TR>

</TABLE>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; margin-top: 6pt; ">

<TR style="font-size: 1pt;">
    <TD width="54%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="43%">&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    R. Richard Fontaine</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Jeffrey W. Griffiths</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    Chairman and Chief Executive Officer</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    President and Chief Executive Officer</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    GameStop Corp.&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Electronics Boutique Holdings Corp.</TD>
</TR>

</TABLE>
</CENTER>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>Neither the Securities and Exchange Commission (SEC) nor any
state securities commission has approved or disapproved of the
securities to be issued in connection with the mergers or
determined if this joint proxy statement-prospectus is truthful
or complete. Any representation to the contrary is a criminal
offense.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
This joint proxy statement-prospectus is dated September&nbsp;2,
2005, and is first being mailed to stockholders of GameStop and
EB on or about September&nbsp;7, 2005.
</DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV align="left" style="font-size: 10pt;">
<A name='102'></A>
</DIV>

<!-- link1 "ADDITIONAL INFORMATION" -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>ADDITIONAL INFORMATION</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
This joint proxy statement-prospectus incorporates important
business and financial information about GameStop and EB from
other documents that are not included in or delivered with this
joint proxy statement-prospectus. This information is available
to you without charge upon your written or oral request. You can
obtain the documents incorporated by reference in this joint
proxy statement-prospectus through the SEC&nbsp;website at
http://www.sec.gov or by requesting them in writing or by
telephone at the appropriate address below:
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; margin-top: 6pt; ">

<TR style="font-size: 1pt;">
    <TD width="14%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="33%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="32%">&nbsp;</TD>
</TR>

<TR>
    <TD colspan="3" align="left" valign="top">
    if you are a GameStop stockholder:</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="left" valign="top">
    if you are an EB stockholder:</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    By Mail:</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    GameStop Corp.&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    By Mail:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Electronics Boutique Holdings Corp.</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    625 Westport Parkway</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    931 South Matlack Street</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Grapevine, Texas 76051</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    West Chester, Pennsylvania 19382</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Attention: Investor Relations</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Attention: Investor Relations</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    By Telephone:</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    (817)&nbsp;424-2000</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    By Telephone:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    (610) 430-8100</TD>
</TR>

</TABLE>
</CENTER>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
IF YOU WOULD LIKE TO RECEIVE ANY DOCUMENTS, PLEASE MAKE YOUR
REQUEST BY SEPTEMBER&nbsp;29, 2005 IN ORDER TO RECEIVE THEM
BEFORE YOUR ANNUAL MEETING.
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
See &#147;Where You Can Find More Information&#148; beginning on
page&nbsp;162.
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>VOTING ELECTRONICALLY OR</B>
</DIV>

<DIV align="center" style="font-size: 10pt;">
<B>BY TELEPHONE</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Stockholders of record of GameStop Class&nbsp;A common stock and
GameStop Class&nbsp;B common stock at the close of business on
August&nbsp;30, 2005, the record date for the GameStop annual
meeting, may submit their proxies:
</DIV>


<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    through the Internet by visiting a website established for that
    purpose at http://www.proxyvotenow.com/gme and following the
    instructions;&nbsp;or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    by telephone by calling the toll-free number 866-407-4408 in the
    United States, Puerto Rico or Canada on a touch-tone phone and
    following the recorded instructions.</TD>
</TR>

</TABLE>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Stockholders of record of EB common stock at the close of
business on August&nbsp;30, 2005, the record date for the EB
annual meeting, may submit their proxies:
</DIV>


<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    through the Internet by visiting a website established for that
    purpose at http://www.eproxyvote.com/ELBO and following the
    instructions;&nbsp;or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    by telephone by calling the toll-free number 877-779-8683 in the
    United States, Puerto Rico or Canada on a touch-tone phone and
    following the recorded instructions.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In order to vote via the telephone or the Internet, please have
in front of you either your proxy card, or if you have consented
to receive your materials electronically, your e-mail
notification advising that materials are available on-line. A
phone number and an Internet website address are contained on
each of the documents. Upon entering either the phone number or
the Internet website address, you will be instructed on how to
proceed.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If a GameStop or EB stockholder holds shares registered in the
name of a broker, bank or other nominee, that broker, bank or
other nominee will enclose or provide a voting instruction card
for use in directing that broker, bank or other nominee how to
vote those shares.
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV align="left" style="font-size: 10pt;">
<A name='103'></A>
</DIV>

<!-- link1 "GAMESTOP CORP. Notice of GameStop Annual Meeting of Stockholders To Be Held October 6, 2005" -->

<DIV align="center" style="font-size: 14pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>GAMESTOP CORP.</B>
</DIV>

<DIV align="center" style="font-size: 12pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Notice of GameStop Annual Meeting of Stockholders</B>
</DIV>


<DIV align="center" style="font-size: 12pt;">
<B>To Be Held October&nbsp;6, 2005</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
To the stockholders of GameStop:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
An annual meeting of the stockholders of GameStop will be held
at the Wyndham Anatole Hotel, 2201 Stemmons Freeway, Dallas,
Texas, on October&nbsp;6, 2005 at 12:00&nbsp;p.m., local time,
for the following purposes:
</DIV>


<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    1.&nbsp;To consider and vote on a proposal to (i)&nbsp;adopt the
    Agreement and Plan of Merger, dated as of April&nbsp;17, 2005,
    by and among GameStop, GameStop, Inc., GSC Holdings Corp., Eagle
    Subsidiary LLC, Cowboy Subsidiary LLC and EB, including the
    transactions contemplated thereby, including the GameStop
    merger, pursuant to which, among other things, separate
    subsidiaries of Holdco will be merged with and into GameStop and
    EB, (ii)&nbsp;approve the amendment to GameStop&#146;s
    certificate of incorporation to provide for the payment of the
    GameStop merger consideration as contemplated by the merger
    agreement, and (iii)&nbsp;approve the amendment to the GameStop
    Amended and Restated 2001 Incentive Plan to provide for the
    issuance of Holdco Class&nbsp;A common stock under the plan. In
    the proposed mergers, EB common stockholders will have the right
    to receive $38.15 in cash and .78795 of a share of Holdco
    Class&nbsp;A common stock for each share of EB common stock that
    they own. In addition, GameStop stockholders will receive one
    share of Holdco Class&nbsp;A common stock for each share of
    GameStop Class&nbsp;A common stock that they own and one share
    of Holdco Class&nbsp;B common stock for each share of GameStop
    Class&nbsp;B common stock that they own. A copy of the merger
    agreement is attached as <U>Annex&nbsp;A</U> to the accompanying
    joint proxy statement-prospectus.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    2.&nbsp;To consider and vote on the adoption of the Holdco 2005
    Incentive Plan.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    3.&nbsp;To elect three members to GameStop&#146;s board of
    directors.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    4.&nbsp;To ratify the appointment of BDO Seidman, LLP as
    GameStop&#146;s registered independent public accounting firm
    for GameStop&#146;s fiscal year ending January&nbsp;28, 2006.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    5.&nbsp;To transact such other business as may properly come
    before the GameStop annual meeting or any adjournment or
    postponement of the GameStop annual meeting.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The presence of a majority of the voting power of the shares of
GameStop common stock entitled to vote at the GameStop annual
meeting must be represented in person or by proxy at the
GameStop annual meeting to constitute a quorum. The adoption of
the merger agreement and the transactions contemplated thereby,
including the GameStop merger, the approval of the amendment to
GameStop&#146;s certificate of incorporation and the amendment
to the GameStop Amended and Restated 2001 Incentive Plan
(collectively referred to herein as the merger proposal)
requires the affirmative vote of a majority of the outstanding
shares of GameStop Class&nbsp;A common stock, voting as a single
class, and the affirmative vote of a majority of the outstanding
shares of GameStop Class&nbsp;A common stock and GameStop
Class&nbsp;B common stock, voting together as a single class.
The adoption of the Holdco 2005 Incentive Plan requires the
affirmative vote of a majority of the voting power of GameStop
common stock voting on the proposal in person or by proxy at the
GameStop annual meeting. The three nominees for director
receiving the highest vote totals will be elected as directors
of GameStop to serve until the 2008 GameStop annual meeting of
stockholders. The ratification of BDO Seidman, LLP as
GameStop&#146;s registered independent public accounting firm
requires the affirmative vote of a majority of the voting power
of GameStop common stock voting on the proposal in person or by
proxy at the GameStop annual meeting. At the GameStop annual
meeting, each holder of GameStop Class&nbsp;A common stock is
entitled to one vote for each share of GameStop Class&nbsp;A
common stock, and each holder of GameStop Class&nbsp;B common
stock is entitled to ten votes for each share of GameStop
Class&nbsp;B common stock, held as of the GameStop record date
on all matters properly submitted to the GameStop stockholders.
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Pursuant to a voting agreement with Leonard Riggio, a director
of GameStop, and certain of his affiliates (referred to as the
Riggio Group), the Riggio Group has agreed to vote their shares
of GameStop Class&nbsp;A common stock and GameStop Class&nbsp;B
common stock (collectively, GameStop common stock) in favor of
the adoption of the merger proposal. As of August&nbsp;30, 2005,
the GameStop record date, the Riggio Group owned approximately
5.3&nbsp;million shares of GameStop Class&nbsp;B common stock,
which represents approximately 16.4% of the combined voting
power of all classes of GameStop&#146;s voting stock. The Riggio
Group also holds exercisable options to acquire
4,500,000&nbsp;shares of GameStop Class&nbsp;A common stock.
These options are not expected to be exercised prior to the
GameStop record date and therefore the Riggio Group is not
expected to have any voting power with respect to the GameStop
Class&nbsp;A common stock.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>The GameStop board of directors unanimously recommends that
you vote:</B>
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    <B>FOR the adoption of the merger agreement and the transactions
    contemplated thereby, including the GameStop merger, FOR the
    amendment to GameStop&#146;s certificate of incorporation, and
    FOR the amendment to the GameStop Amended and Restated 2001
    Incentive Plan,</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    <B>FOR the adoption of the Holdco 2005 Incentive Plan,</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    <B>FOR the election of the GameStop nominees for director named
    in this joint proxy statement-prospectus, and</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    <B>FOR the ratification of BDO Seidman, LLP as GameStop&#146;s
    registered independent public accounting firm for
    GameStop&#146;s fiscal year ending January&nbsp;28, 2006.</B></TD>
</TR>

</TABLE>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Only GameStop stockholders of record at the close of business on
August&nbsp;30, 2005 are entitled to notice of and to vote at
the GameStop annual meeting and any adjournments or
postponements thereof. To vote your shares, please complete and
return the enclosed proxy card to GameStop or grant your proxy
by telephone or through the Internet. You may also cast your
vote in person at the GameStop annual meeting. Please vote
promptly whether or not you expect to attend the GameStop annual
meeting.
</DIV>


<DIV style="margin-top: 24pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="60%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    By order of the GameStop board of directors,</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <IMG src="y09199ey0919907.gif" alt="(R. Richard Fontaine)"></TD>
</TR>


<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    R. Richard Fontaine</TD>
</TR>


<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Chairman and Chief Executive Officer</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
Grapevine, Texas
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>PLEASE VOTE YOUR SHARES PROMPTLY. YOU CAN FIND INSTRUCTIONS
FOR VOTING ON THE ENCLOSED PROXY CARD. IF YOU HAVE QUESTIONS
ABOUT ANY OF THE PROPOSALS TO BE CONSIDERED AT THE GAMESTOP
ANNUAL MEETING OR ABOUT VOTING YOUR SHARES, PLEASE CALL
GEORGESON SHAREHOLDER COMMUNICATIONS, INC. TOLL-FREE AT
800-491-3365. BANKS AND BROKERS MAY CALL COLLECT AT
212-440-9800.</B>
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV align="left" style="font-size: 10pt;">
<A name='104'></A>
</DIV>

<!-- link1 "ELECTRONICS BOUTIQUE HOLDINGS CORP. Notice of EB Annual Meeting of Stockholders To Be Held October 6, 2005" -->

<DIV align="center" style="font-size: 14pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>ELECTRONICS BOUTIQUE HOLDINGS CORP.</B>
</DIV>

<DIV align="center" style="font-size: 12pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Notice of EB Annual Meeting of Stockholders</B>
</DIV>


<DIV align="center" style="font-size: 12pt;">
<B>To Be Held October&nbsp;6, 2005</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
To the stockholders of EB:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
An annual meeting of the stockholders of EB will be held at
EB&#146;s executive offices at 931 South Matlack Street, West
Chester, Pennsylvania, on October&nbsp;6, 2005 at
1:00&nbsp;p.m., local time, for the following purposes:
</DIV>


<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    1.&nbsp;To consider and vote on a proposal to adopt the
    Agreement and Plan of Merger, dated as of April&nbsp;17, 2005,
    by and among GameStop, GameStop, Inc., GSC Holdings Corp., Eagle
    Subsidiary LLC, Cowboy Subsidiary LLC and EB, including the
    transactions contemplated thereby, including the EB merger,
    pursuant to which, among other things, separate subsidiaries of
    Holdco will be merged with and into GameStop and EB. In the
    proposed mergers, EB common stockholders will have the right to
    receive $38.15 in cash and .78795 of a share of Holdco
    Class&nbsp;A common stock for each share of EB common stock that
    they own. In addition, GameStop stockholders will receive one
    share of Holdco Class&nbsp;A common stock for each share of
    GameStop Class&nbsp;A common stock that they own and one share
    of Holdco Class&nbsp;B common stock for each share of GameStop
    Class&nbsp;B common stock that they own. A copy of the merger
    agreement is attached as <U>Annex&nbsp;A</U> to the accompanying
    joint proxy statement-prospectus.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    2.&nbsp;To consider and vote on the adoption of the Holdco 2005
    Incentive Plan.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    3.&nbsp;To elect seven directors as EB&#146;s board of directors.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    4.&nbsp;To consider and vote upon a proposal to ratify the
    appointment of KPMG LLP as EB&#146;s registered independent
    public accounting firm for EB&#146;s fiscal year ending
    January&nbsp;28, 2006.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    5.&nbsp;To transact such other business as may properly come
    before the EB annual meeting or any adjournment or postponement
    of the EB annual meeting.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The presence of a majority of the outstanding shares of EB
common stock entitled to vote at the EB annual meeting must be
represented in person or by proxy at the EB annual meeting to
constitute a quorum. The adoption of the merger agreement and
the transactions contemplated thereby, including the EB merger,
requires the affirmative vote of a majority of the outstanding
shares of EB common stock. The adoption of the Holdco 2005
Incentive Plan requires the affirmative vote of a majority of
the outstanding shares of EB common stock voting on the proposal
in person or by proxy at the EB annual meeting. The seven
nominees for EB director receiving the highest vote totals will
be elected as directors of EB to serve until the next EB annual
meeting of stockholders or until their earlier resignation. The
ratification of KPMG LLP as EB&#146;s registered independent
public accounting firm requires the affirmative vote of a
majority of the outstanding shares of EB common stock voting on
the proposal in person or by proxy at the EB annual meeting.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Pursuant to a voting agreement with certain stockholders
affiliated with Mr.&nbsp;James J. Kim, the Chairman of the Board
of EB (the Kim Group), the Kim Group has agreed, subject to
certain limitations, to vote their shares of EB common stock in
favor of the adoption of the merger agreement. As of
August&nbsp;30, 2005, the EB record date, the Kim Group
beneficially owned approximately 11.6&nbsp;million shares of EB
common stock, which represent approximately 45.6% of the
outstanding shares of EB common stock at the EB annual meeting.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>The EB board of directors unanimously recommends that you
vote:</B>
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>


<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    <B>FOR the adoption of the merger agreement and the transactions
    contemplated thereby, including the EB merger,</B></TD>
</TR>


<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    <B>FOR the adoption of the Holdco 2005 Incentive Plan,</B></TD>
</TR>

</TABLE>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    <B>FOR the election of the EB nominees for director named in
    this joint proxy statement-prospectus, and</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    <B>FOR the ratification of KPMG LLP as EB&#146;s registered
    independent public accounting firm for EB&#146;s fiscal year
    ending January&nbsp;28, 2006.</B></TD>
</TR>

</TABLE>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Only EB stockholders of record at the close of business on
August&nbsp;30, 2005 are entitled to notice of and to vote at
the EB annual meeting and any adjournments or postponements
thereof. To vote your shares, please complete and return the
enclosed proxy card to EB or grant your proxy by telephone or
through the Internet. You may also cast your vote in person at
the EB annual meeting. Please vote promptly whether or not you
expect to attend the EB annual meeting.
</DIV>


<DIV style="margin-top: 24pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="60%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    By order of the EB board of directors,</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <IMG src="y09199ey0919908.gif" alt="(-s- Jeffrey W. Griffths)"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Jeffrey W. Griffiths</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    President and Chief Executive Officer</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
West Chester, Pennsylvania
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>PLEASE VOTE YOUR SHARES PROMPTLY. YOU CAN FIND INSTRUCTIONS
FOR VOTING ON THE ENCLOSED PROXY CARD. IF YOU HAVE QUESTIONS
ABOUT ANY OF THE PROPOSALS TO BE CONSIDERED AT THE EB ANNUAL
MEETING OR ABOUT VOTING YOUR SHARES, PLEASE CALL GEORGESON
SHAREHOLDER COMMUNICATIONS, INC. TOLL-FREE AT 800-267-4403.
BANKS AND BROKERS MAY CALL COLLECT AT 212-440-9800.</B>
</DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV align="left" style="font-size: 10pt;">

</DIV>

<DIV align="left" style="font-size: 10pt;">
<!-- TOC -->
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name="tocpage"></A>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>TABLE OF CONTENTS</B>
</DIV>


<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; margin-top: 12pt; ">

<TR style="font-size: 1pt;">
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="84%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Page</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR>
    <TD colspan="3" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#105'>QUESTIONS AND ANSWERS ABOUT VOTING
    PROCEDURES FOR THE ANNUAL MEETINGS</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>v</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="3" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#106'>SUMMARY</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#107'>GameStop Corp. (see page&nbsp;98)</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#108'>Electronics Boutique Holdings Corp. (see
    page&nbsp;118)</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#109'>GSC Holdings Corp. (see page&nbsp;118)</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#110'>Structure of the Mergers (see
    page&nbsp;38)</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>2</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#111'>Before the Mergers</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>2</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#112'>After the Mergers</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>2</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#113'>EB Common Stockholders to Receive Shares of
    Holdco Class&nbsp;A Common Stock and Cash (see page&nbsp;33)</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>2</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#114'>GameStop Common Stockholders to Receive
    Shares of Holdco Common Stock (see page&nbsp;24)</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>3</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#272'>Stock Exchange Listing and Stock Prices
    (see page&nbsp;79)</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>3</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#115'>Receipt of Shares of Holdco Common Stock in
    Mergers Generally Nontaxable to Stockholders (see
    page&nbsp;72)</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>3</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#116'>Our Boards of Directors Unanimously
    Recommend that GameStop and EB Stockholders Vote to Adopt the
    Merger Agreement (see pages&nbsp;24 and 33)</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>4</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#117'>Opinions of Financial Advisors (see pages
    48 and 55)</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>4</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#118'>The Riggio Group Voting Agreement (see
    page&nbsp;95)</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>5</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#119'>The Kim Group Voting Agreement (see
    page&nbsp;94)</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>5</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#120'>Interests of Our Directors and Executive
    Officers in the Mergers (see page&nbsp;68)</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>5</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#121'>The Registration Rights Agreement (see
    page&nbsp;95)</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>5</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#122'>The Non-Competition Agreement (see
    page&nbsp;96)</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>5</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#123'>Appraisal Rights (see page&nbsp;79)</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>5</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#124'>Directors and Management Following the
    Mergers (see page&nbsp;71)</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>6</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#125'>Conditions to Completion of the Mergers;
    Antitrust Clearance (see page&nbsp;84)</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>6</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#126'>Termination of the Merger Agreement; Fees
    Payable (see page&nbsp;89)</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>7</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#127'>Amendment to GameStop&#146;s Certificate of
    Incorporation (see page&nbsp;96)</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>7</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#128'>GameStop Annual Meeting (see
    page&nbsp;23)</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>8</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#129'>EB Annual Meeting (see page&nbsp;32)</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>8</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="3" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#130'>SELECTED HISTORICAL AND PRO FORMA FINANCIAL
    DATA</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>10</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#131'>Selected Historical Financial Data of
    GameStop</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>10</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#132'>Selected Historical Financial Data of EB</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>12</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#133'>Selected Unaudited Pro Forma Condensed
    Consolidated Financial Data of Holdco</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>15</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="3" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#134'>COMPARATIVE PER SHARE DATA (Unaudited)</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>16</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="3" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    RECENT DEVELOPMENTS</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>17</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    GameStop Unaudited Results for Second Quarter of GameStop Fiscal
    2005</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>17</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    EB Unaudited Results for Second Quarter of EB Fiscal 2006</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>17</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="3" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#135'>RISK FACTORS</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>18</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="3" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#136'>INFORMATION REGARDING FORWARD-LOOKING
    STATEMENTS</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>22</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="3" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#137'>THE GAMESTOP ANNUAL MEETING</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>23</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#138'>Joint Proxy Statement-Prospectus</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>23</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#139'>Date, Time and Place of the GameStop Annual
    Meeting</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>23</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#140'>Purpose of the GameStop Annual Meeting</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>23</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#141'>Record Date for the GameStop Annual
    Meeting</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>23</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#142'>Recommendation of the Board of Directors of
    GameStop</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>24</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>
</CENTER>


<P align="center" style="font-size: 10pt;">i
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>


<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; ">

<TR style="font-size: 1pt;">
    <TD width="3%">&nbsp;</TD>
    <TD width="87%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Page</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#143'>GAMESTOP PROPOSAL&nbsp;1&nbsp;&#151; THE
    MERGERS</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>24</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#144'>Effect of the GameStop Merger; What You
    Will Receive in the GameStop Merger</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>24</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#145'>GAMESTOP PROPOSAL&nbsp;2&nbsp;&#151;
    ADOPTION OF HOLDCO 2005 INCENTIVE PLAN</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>25</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#146'>Holdco 2005 Incentive Plan</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>25</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#147'>GAMESTOP PROPOSAL&nbsp;3&nbsp;&#151;
    ELECTION OF GAMESTOP DIRECTORS</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>29</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#148'>GAMESTOP PROPOSAL&nbsp;4&nbsp;&#151;
    RATIFICATION OF THE APPOINTMENT OF GAMESTOP&#146;S REGISTERED
    INDEPENDENT PUBLIC ACCOUNTING FIRM</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>29</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#149'>Votes Required</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>29</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#150'>Adjournment or Postponement</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>30</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#151'>Proxies</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>30</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#152'>Voting Electronically or by Telephone</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>31</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#153'>Solicitation of Proxies</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>32</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#154'>THE EB ANNUAL MEETING</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>32</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#155'>Joint Proxy Statement-Prospectus</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>32</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#156'>Date, Time and Place of the EB Annual
    Meeting</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>32</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#157'>Purpose of the EB Annual Meeting</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>32</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#158'>Record Date for the EB Annual Meeting</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>33</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#159'>Recommendation of the Board of Directors of
    EB</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>33</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#160'>EB PROPOSAL&nbsp;1&nbsp;&#151; THE
    MERGERS</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>33</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#161'>Effect of the EB Merger; What You Will
    Receive in the EB Merger</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>33</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#162'>EB PROPOSAL&nbsp;2&nbsp;&#151; ADOPTION OF
    HOLDCO 2005 INCENTIVE PLAN</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>34</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#163'>Holdco 2005 Incentive Plan</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>34</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#164'>EB PROPOSAL&nbsp;3&nbsp;&#151; ELECTION OF
    EB DIRECTORS</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>34</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#165'>EB PROPOSAL&nbsp;4&nbsp;&#151; RATIFICATION
    OF THE APPOINTMENT OF EB&#146;S REGISTERED INDEPENDENT PUBLIC
    ACCOUNTING FIRM</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>35</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#166'>Votes Required</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>35</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#167'>Adjournment or Postponement</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>36</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#168'>Proxies</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>36</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#169'>Voting Electronically or by Telephone</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>37</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#170'>Solicitation of Proxies</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>37</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#171'>THE MERGERS</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>38</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#172'>Background of the Mergers</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>38</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#173'>GameStop&#146;s Reasons for the GameStop
    Merger; Recommendation of the GameStop Merger by the GameStop
    Board of Directors</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>41</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#174'>EB&#146;s Reasons for the EB Merger;
    Recommendation of the EB Merger by the EB Board of Directors</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>44</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#175'>Opinion of GameStop&#146;s Financial
    Advisor</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>48</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#176'>Opinions of EB&#146;s Financial Advisors</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>55</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#177'>Interests of Directors and Executive
    Officers in the Mergers</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>68</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#178'>Holdco Board of Directors and Management
    after the Mergers</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>71</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#179'>Material United States Federal Income Tax
    Consequences</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>72</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#180'>Accounting Treatment</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>76</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#181'>Regulatory Approvals</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>76</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#182'>Conversion of Shares; Exchange of
    Certificates; Dividends; Withholding</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>77</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#183'>Treatment of Stock Options</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>78</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#184'>Restrictions on Sales of Shares by
    Affiliates of GameStop and EB</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>78</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#185'>Stock Exchange Listing and Stock Prices</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>79</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#186'>Rights of Dissenting Stockholders</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>79</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>
</CENTER>


<P align="center" style="font-size: 10pt;">ii

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>


<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; ">

<TR style="font-size: 1pt;">
    <TD width="3%">&nbsp;</TD>
    <TD width="87%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Page</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#187'>Delisting and Deregistration of GameStop
    and EB Stock after the Mergers</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>82</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#188'>The Merger Agreement</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>82</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#189'>The Kim Group Voting Agreement</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>94</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#190'>The Riggio Group Voting Agreement</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>95</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#191'>The Registration Rights Agreement</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>95</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#192'>The Non-Competition Agreement</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>96</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#193'>Amendment to GameStop&#146;s Certificate of
    Incorporation</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>96</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#194'>Amendment to GameStop Amended and Restated
    2001 Incentive Plan</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>97</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#195'>Financing</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>97</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#196'>INFORMATION ABOUT GAMESTOP</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>98</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#197'>Information about the Board of Directors
    and Executive Officers of GameStop</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>99</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#198'>GameStop Security Ownership of Certain
    Beneficial Owners and Management and Related Stockholder
    Matters</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>104</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#199'>GameStop Compensation Committee Interlocks
    and Insider Participation</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>105</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#200'>GameStop Executive Compensation</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>106</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#201'>GameStop Compensation Committee Report on
    Executive Compensation</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>109</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#202'>Performance Graph&nbsp;&#151; GameStop
    Class&nbsp;A Common Stock</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>112</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#203'>Performance Graph&nbsp;&#151; GameStop
    Class&nbsp;B Common Stock</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>113</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#204'>GameStop&nbsp;&#151; Certain Relationships
    and Related Transactions</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>113</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#205'>GameStop Registered Independent Public
    Accounting Firm</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>116</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#206'>GameStop Audit Committee Report on the
    Fiscal Year Ended January&nbsp;29, 2005</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>116</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#207'>GameStop Compliance with Section&nbsp;16(a)
    of the Exchange Act</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>117</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#208'>INFORMATION ABOUT HOLDCO</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>118</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#209'>INFORMATION ABOUT EB</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>118</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#210'>Information about the Board of Directors
    and Executive Officers of EB</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>119</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#211'>EB Compensation Committee Report on
    Executive Compensation</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>125</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#212'>EB Compensation Committee Interlocks and
    Insider Participation</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>128</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#213'>EB Comparison of Total Stockholder
    Return</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>129</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#214'>EB Security Ownership of Certain Beneficial
    Owners and Management</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>130</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#215'>EB&nbsp;&#151; Certain Relationships and
    Related Transactions</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>131</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#216'>EB Section&nbsp;16(a) Beneficial Ownership
    Reporting Compliance</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>132</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#217'>EB Registered Independent Public Accounting
    Firm</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>132</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#218'>EB Audit Fees</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>132</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#219'>EB Audit Committee Report</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>133</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#220'>GSC HOLDINGS CORP. UNAUDITED PRO FORMA
    CONDENSED CONSOLIDATED FINANCIAL DATA</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>134</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#221'>GSC HOLDINGS CORP. UNAUDITED PRO FORMA
    CONDENSED CONSOLIDATED BALANCE SHEET</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>135</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#222'>GSC HOLDINGS CORP. NOTES&nbsp;TO UNAUDITED
    PRO FORMA CONDENSED CONSOLIDATED BALANCE SHEET</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>136</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#223'>GSC HOLDINGS CORP. UNAUDITED PRO FORMA
    CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>138</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#224'>GSC HOLDINGS CORP. NOTES&nbsp;TO UNAUDITED
    PRO FORMA CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>139</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#225'>DESCRIPTION OF HOLDCO CAPITAL STOCK</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>141</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#226'>Common Stock</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>141</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#227'>Preferred Stock</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>141</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#228'>Rights Agreement</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>142</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>
</CENTER>


<P align="center" style="font-size: 10pt;">iii

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>


<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; ">

<TR style="font-size: 1pt;">
    <TD width="3%">&nbsp;</TD>
    <TD width="87%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Page</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#229'>COMPARISON OF STOCKHOLDER RIGHTS</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>144</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#230'>Authorized Capital Stock</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>145</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#231'>Voting Power of Capital Stock</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>145</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#232'>Class&nbsp;Voting</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>145</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#233'>Directors</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>146</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#234'>Qualifications of Directors</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>147</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#235'>Vacancies on the Board of Directors</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>147</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#236'>Removal of Directors</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>148</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#237'>Amendments to the Certificate of
    Incorporation</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>148</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#238'>Amendments to Bylaws</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>149</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#239'>Action by Written Consent of
    Stockholders</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>150</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#240'>Notice of Stockholders Meeting</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>150</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#241'>Ability to Call Special Meetings of
    Stockholders</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>151</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#242'>Notice of Stockholder Action</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>151</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#243'>Limitation of Personal Liability of
    Directors and Officers</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>153</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#244'>Indemnification of Directors and
    Officers</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>154</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#245'>Preemptive Rights of Stockholders</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>156</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#246'>Dividends</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>156</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#247'>Inspection of Books and Records and
    Stockholder List</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>157</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#248'>Anti-Takeover Statute: Section&nbsp;203</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>157</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#249'>Transactions Involving Officers or
    Directors</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>158</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#250'>Mergers, Acquisitions, Share Purchases and
    Certain Other Transactions</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>158</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#251'>Office of the Chairman</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>159</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#252'>LEGAL MATTERS</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>159</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#253'>EXPERTS</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>160</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#254'>OTHER MATTERS WITH RESPECT TO
    GAMESTOP&#146;S ANNUAL MEETING</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>160</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#255'>OTHER MATTERS WITH RESPECT TO EB&#146;S
    ANNUAL MEETING</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>161</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#256'>Annual Report On Form&nbsp;10-K</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>161</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#257'>Other Matters</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>161</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;<A HREF='#258'>WHERE YOU CAN FIND MORE INFORMATION</A></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>162</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>
</CENTER>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<!-- /TOC -->
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; ">

<TR style="font-size: 1pt;">
    <TD width="18%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="63%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Page</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <B>&nbsp;<A HREF='#259'>ANNEX A</A></B></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    <B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    <B>&nbsp;<A HREF='#259'>Agreement and Plan of Merger</A></B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-1</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <B>&nbsp;<A HREF='#260'>ANNEX B</A></B></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    <B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    <B>Amendment to GameStop Amended and Restated Certificate of
    Incorporation</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>B-1</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <B>&nbsp;<A HREF='#261'>ANNEX C</A></B></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    <B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    <B>Kim Group Voting Agreement</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>C-1</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <B>&nbsp;<A HREF='#262'>ANNEX D</A></B></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    <B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    <B>&nbsp;<A HREF='#262'>Registration Rights Agreement</A></B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>D-1</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <B>&nbsp;<A HREF='#263'>ANNEX E</A></B></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    <B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    <B>&nbsp;<A HREF='#263'>Non-Competition Agreement</A></B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>E-1</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <B>&nbsp;<A HREF='#264'>ANNEX F</A></B></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    <B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    <B>Riggio Group Voting Agreement, as amended</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>F-1</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <B>&nbsp;<A HREF='#265'>ANNEX G</A></B></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    <B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    <B>Opinion of Citigroup Global Markets Inc.</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>G-1</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <B>&nbsp;<A HREF='#266'>ANNEX H</A></B></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    <B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    <B>Opinion of Merrill Lynch&nbsp;&#38; Co.</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>H-1</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <B>&nbsp;<A HREF='#267'>ANNEX I</A></B></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    <B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    <B>Opinion of Peter J. Solomon Company, L.P.</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>I-1</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <B>&nbsp;<A HREF='#268'>ANNEX J</A></B></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    <B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    <B>Section&nbsp;262 of the Delaware General Corporation Law</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>J-1</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <B>&nbsp;<A HREF='#271'>ANNEX K</A></B></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    <B>&#151;</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    <B>Holdco 2005 Incentive Plan</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>K-1</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>
</CENTER>

<P align="center" style="font-size: 10pt;">iv
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV align="left" style="font-size: 10pt;">
<A name='105'></A>
</DIV>

<!-- link1 "QUESTIONS AND ANSWERS ABOUT VOTING PROCEDURES FOR THE ANNUAL MEETINGS" -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>QUESTIONS AND ANSWERS ABOUT VOTING PROCEDURES</B>
</DIV>

<DIV align="center" style="font-size: 10pt;">
<B>FOR THE ANNUAL MEETINGS</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>The questions and answers below highlight only selected
procedural information from this joint proxy
statement-prospectus. They do not contain all of the information
that may be important to you. You should read carefully the
entire joint proxy statement-prospectus and the additional
documents incorporated by reference into this joint proxy
statement-prospectus to fully understand the voting procedures
for the annual meetings.</I>
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt;">

<TR>
    <TD width="2%"></TD>
    <TD width="1%"></TD>
    <TD width="97%"></TD>
</TR>

<TR>
    <TD valign="top">
    Q:</TD>
    <TD></TD>
    <TD valign="top">
    WHAT IS THE PROPOSED TRANSACTION FOR WHICH I AM BEING ASKED TO
    VOTE?</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    A:</TD>
    <TD></TD>
    <TD valign="top">
    You, as a stockholder of GameStop and/or a stockholder of EB,
    are being asked, among other things, to vote to adopt an
    Agreement and Plan of Merger entered into by and among GameStop,
    GameStop, Inc., GSC Holdings Corp., Eagle Subsidiary LLC, Cowboy
    Subsidiary LLC and EB. Subject to the terms and conditions of
    the merger agreement, GameStop and EB will simultaneously merge
    with newly formed subsidiaries of GSC Holdings Corp. (to be
    renamed GameStop Corp. upon closing of the mergers) (which we
    refer to in this joint proxy statement-prospectus as Holdco),
    and after the mergers would become wholly-owned subsidiaries of
    Holdco. A copy of the merger agreement is attached as
    <U>Annex&nbsp;A.</U></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    In the proposed mergers, EB common stockholders will have the
    right to receive $38.15 in cash and .78795 of a share of Holdco
    Class&nbsp;A common stock for each share of EB common stock they
    own. GameStop stockholders will receive one share of Holdco
    Class&nbsp;A common stock for each share of GameStop
    Class&nbsp;A common stock that they own and one share of Holdco
    Class&nbsp;B common stock for each share of GameStop
    Class&nbsp;B common stock that they own.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    Q:</TD>
    <TD></TD>
    <TD valign="top">
    WHAT ARE THE OTHER MATTERS FOR WHICH I AM BEING ASKED TO VOTE?</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    A:</TD>
    <TD></TD>
    <TD valign="top">
    If you are a GameStop stockholder you are also being asked:</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt;">

<TR>
    <TD width="7%"></TD>
    <TD width="1%"></TD>
    <TD width="92%"></TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    1.&nbsp;to consider and vote on the adoption of the Holdco 2005
    Incentive Plan;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    2.&nbsp;to elect three members to GameStop&#146;s board of
    directors;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    3.&nbsp;to ratify the appointment of BDO Seidman, LLP as
    GameStop&#146;s registered independent public accounting firm
    for GameStop&#146;s fiscal year ending January&nbsp;28,
    2006;&nbsp;and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    4.&nbsp;to transact such other business as may properly come
    before the GameStop annual meeting or any adjournment or
    postponement of the GameStop annual meeting.</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt;">

<TR>
    <TD width="2%"></TD>
    <TD width="1%"></TD>
    <TD width="97%"></TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    If you are an EB stockholder you are also being asked:</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt;">

<TR>
    <TD width="7%"></TD>
    <TD width="1%"></TD>
    <TD width="92%"></TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    1.&nbsp;to consider and vote on the adoption of the Holdco 2005
    Incentive Plan;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    2.&nbsp;to elect seven directors as EB&#146;s board of directors;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    3.&nbsp;to consider and vote upon a proposal to ratify the
    appointment of KPMG LLP as EB&#146;s registered independent
    public accounting firm for EB&#146;s fiscal year ending
    January&nbsp;28, 2006;&nbsp;and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    4.&nbsp;to transact such other business as may properly come
    before the EB annual meeting or any adjournment or postponement
    of the EB annual meeting.</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt;">

<TR>
    <TD width="2%"></TD>
    <TD width="1%"></TD>
    <TD width="97%"></TD>
</TR>

<TR>
    <TD valign="top">
    Q:</TD>
    <TD></TD>
    <TD valign="top">
    WHAT DO I NEED TO DO NOW TO VOTE?</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    A:</TD>
    <TD></TD>
    <TD valign="top">
    After carefully reading and considering the information
    contained in this joint proxy statement-prospectus, please vote
    by telephone, the Internet or by mail as soon as possible so
    that your shares may be represented and voted at GameStop&#146;s
    or EB&#146;s annual meeting. If you hold your shares in your own
    name, you may vote by telephone or through the Internet by
    following the instructions on your proxy card or delivered with
    your proxy card. If you hold shares registered in the name of a
    broker, bank or other nominee, that broker, bank or other
    nominee has enclosed or will provide a voting instruction card
    for use in directing your broker, bank or other nominee how to
    vote those shares.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">v

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt;">

<TR>
    <TD width="2%"></TD>
    <TD width="1%"></TD>
    <TD width="97%"></TD>
</TR>

<TR>
    <TD valign="top">
    Q:</TD>
    <TD></TD>
    <TD valign="top">
    IF MY GAMESTOP OR EB SHARES ARE HELD IN &#147;STREET NAME&#148;
    BY A BROKER, BANK OR OTHER NOMINEE, WILL MY BROKER OR BANK VOTE
    MY SHARES FOR ME?</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    A:</TD>
    <TD></TD>
    <TD valign="top">
    If you hold your shares in &#147;street name&#148; and do not
    provide voting instructions to your broker, your shares will not
    be voted on any proposal on which your broker does not have
    discretionary authority to vote. Generally, your broker, bank or
    other nominee does not have discretionary authority to vote on
    the merger proposal. Accordingly, your broker, bank or other
    nominee will vote your shares held by it in &#147;street
    name&#148; only if you provide instructions to it on how to
    vote. You should follow the directions your broker, bank or
    other nominee provides. Shares that are not voted because you do
    not properly instruct your broker, bank or other nominee will
    have the effect of votes against the adoption of the merger
    proposal.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    Q:</TD>
    <TD></TD>
    <TD valign="top">
    IF MY GAMESTOP OR EB SHARES ARE HELD IN MY OWN NAME, WHAT
    HAPPENS IF I DON&#146;T VOTE?</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>


<TR>
    <TD valign="top">
    A:</TD>
    <TD></TD>
    <TD valign="top">
    If you fail to respond with a vote on the merger proposal, it
    will have the same effect as a vote against adoption of the
    merger proposal. If you respond but do not indicate how you want
    to vote, your proxy will be counted as a vote in favor of
    adopting the merger proposal. If you respond and indicate that
    you are abstaining from voting, your proxy will have the same
    effect as a vote against adoption of the merger proposal.</TD>
</TR>


<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    Q:</TD>
    <TD></TD>
    <TD valign="top">
    CAN I CHANGE MY VOTE AFTER I HAVE DELIVERED MY PROXY?</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>


<TR>
    <TD valign="top">
    A:</TD>
    <TD></TD>
    <TD valign="top">
    Yes. A registered GameStop or EB stockholder may revoke a
    properly executed proxy at any time by (1)&nbsp;notifying
    GameStop or EB, as appropriate, in writing to the addresses set
    forth under &#147;Additional Information,&#148;
    (2)&nbsp;submitting a new properly completed and signed proxy to
    GameStop or EB, as appropriate, either by mail or as described
    under &#147;Additional Information&#148; or (3)&nbsp;voting in
    person at the GameStop or EB annual meeting, as appropriate.</TD>
</TR>


<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    Q:</TD>
    <TD></TD>
    <TD valign="top">
    CAN I ATTEND THE ANNUAL MEETING AND VOTE MY SHARES IN PERSON?</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    A:</TD>
    <TD></TD>
    <TD valign="top">
    Yes. All stockholders of GameStop and EB, including stockholders
    of record and stockholders who hold their shares through banks,
    brokers, nominees or any other holder of record are invited to
    attend their respective annual meetings. Stockholders of record
    can vote in person at either the GameStop or EB annual meeting,
    as applicable. If you are not a stockholder of record, you must
    obtain a proxy, executed in your favor, from the record holder
    of your shares, such as a broker, bank or other nominee, to be
    able to vote in person at the GameStop or EB annual meeting, as
    applicable. If you plan to attend the GameStop or EB annual
    meeting, as applicable, you must hold your shares in your own
    name or have a letter from the record holder of your shares
    confirming your ownership, and you must bring a form of personal
    photo identification with you in order to be admitted to the
    GameStop or EB annual meeting, as applicable. We reserve the
    right to refuse admittance to anyone without proper proof of
    share ownership and without proper photo identification.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    Q:</TD>
    <TD></TD>
    <TD valign="top">
    SHOULD EB STOCKHOLDERS SEND THEIR STOCK CERTIFICATES WITH THEIR
    PROXY CARD?</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    A:</TD>
    <TD></TD>
    <TD valign="top">
    No.&nbsp;<B>Please DO NOT send your EB stock certificates with
    your proxy card.</B> If you are an EB stockholder of record, you
    will receive written instructions from the exchange agent after
    the EB merger is completed on how to exchange any EB stock
    certificates you may have for cash and Holdco Class&nbsp;A
    common stock. If the EB shares you hold of record are in
    book-entry form, they will be automatically converted into the
    right to receive cash and Holdco shares, and you do not need to
    take any action.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    Q:</TD>
    <TD></TD>
    <TD valign="top">
    SHOULD GAMESTOP STOCKHOLDERS SEND IN THEIR STOCK CERTIFICATES
    WITH THEIR PROXY CARD?</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    A:</TD>
    <TD></TD>
    <TD valign="top">
    No.&nbsp;<B>Please DO NOT send your GameStop stock certificates
    with your proxy card.</B> If you are a GameStop stockholder of
    record, you will receive written instructions from the exchange
    agent after the GameStop merger is completed on how to exchange
    any GameStop stock certificates you may</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">vi

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt;">

<TR>
    <TD width="2%"></TD>
    <TD width="1%"></TD>
    <TD width="97%"></TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    have for Holdco common stock. If the GameStop shares you hold of
    record are in book-entry form, they will be automatically
    converted into Holdco shares, and you do not need to take any
    action.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    Q:</TD>
    <TD></TD>
    <TD valign="top">
    WHEN DO WE EXPECT TO COMPLETE THE MERGERS?</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>


<TR>
    <TD valign="top">
    A:</TD>
    <TD></TD>
    <TD valign="top">
    We expect to complete the mergers in October 2005. However, we
    cannot assure you when or if the mergers will occur. We must
    first obtain the approvals of our respective stockholders at the
    GameStop and EB annual meetings.</TD>
</TR>


<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    Q:</TD>
    <TD></TD>
    <TD valign="top">
    WHO CAN HELP ANSWER MY QUESTIONS?</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    A:</TD>
    <TD></TD>
    <TD valign="top">
    If you have any questions about the mergers or how to submit
    your proxy, or if you need additional copies of this joint proxy
    statement-prospectus or the enclosed proxy card, you should
    contact:</TD>
</TR>

</TABLE>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; margin-top: 6pt; ">

<TR style="font-size: 1pt;">
    <TD width="16%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="37%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="14%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="24%">&nbsp;</TD>
</TR>

<TR>
    <TD colspan="3" align="left" valign="top">
    if you are a GameStop stockholder:</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="left" valign="top">
    if you are an EB stockholder:</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    By Mail:</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Georgeson Shareholder&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    By Mail:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Georgeson Shareholder</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Communications, Inc.</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Communications, Inc.</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    17 State Street</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    17 State Street</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    New York, NY 10004</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    New York, NY 10004</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    By Telephone:</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    800-491-3365</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    By Telephone:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    800-267-4403</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    212-440-9800</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    212-440-9800</TD>
</TR>

</TABLE>
</CENTER>

<P align="center" style="font-size: 10pt;">vii
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV align="left" style="font-size: 10pt;">
<A name='106'></A>
</DIV>

<!-- link1 "SUMMARY" -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>SUMMARY</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>This summary highlights selected information in this joint
proxy statement-prospectus and may not contain all of the
information that is important to you. You should carefully read
this entire joint proxy statement-prospectus and the documents
incorporated by reference into this joint proxy
statement-prospectus for a more complete understanding of the
matters being considered at the GameStop and EB annual meetings.
In addition, we incorporate by reference important business and
financial information about GameStop and EB into this joint
proxy statement-prospectus. You may obtain the information
incorporated by reference into this joint proxy
statement-prospectus without charge by following the
instructions in the section entitled &#147;Where You Can Find
More Information&#148; that begins on page&nbsp;162 of this
joint proxy statement-prospectus.</I>
</DIV>


<DIV align="left" style="font-size: 10pt;">
<A name='107'></A>
</DIV>

<!-- link1 "GameStop Corp. (see page 98)" -->


<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>GameStop Corp. (see page&nbsp;98)</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
GameStop Corp., a Delaware corporation, is one of the leading
video game and PC entertainment software retailers in the United
States. GameStop carries one of the largest assortments of new
and used video game hardware, video game software and
accessories, PC entertainment software, and related products,
including action figures, trading cards and strategy guides.
GameStop operates approximately 2,000&nbsp;stores in the United
States, Puerto Rico, Guam, Ireland and the United Kingdom.
GameStop operates most of its stores under the GameStop name. In
addition, GameStop operates a website at www.gamestop.com and
publishes <I>Game Informer</I>, the industry&#146;s largest
circulation multi-platform video game magazine, with over
2,000,000 subscribers. GameStop has approximately
2,700&nbsp;full-time salaried, 2,300&nbsp;full-time hourly and
between 12,000 and 18,000&nbsp;part-time hourly employees
depending on the time of year. The address of GameStop&#146;s
principal executive offices is 625 Westport Parkway, Grapevine,
Texas&nbsp;76051.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='108'></A>
</DIV>

<!-- link1 "Electronics Boutique Holdings Corp. (see page 118)" -->


<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Electronics Boutique Holdings Corp. (see page&nbsp;118)</B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Electronics Boutique Holdings Corp., a Delaware corporation, is
one of the leading global retailers of video game hardware and
software, PC entertainment software, pre-played video games and
related accessories and products. EB operates approximately
2,300 stores, primarily under the names EB Games and Electronics
Boutique, in Australia, Canada, Denmark, Finland, Germany,
Italy, New Zealand, Norway, Puerto Rico, Spain, Sweden,
Switzerland and the United States. EB also operates a website
under the URL address www.ebgames.com. EB employs approximately
11,600 non-seasonal full-time and part-time employees. The
address of EB&#146;s principal executive offices is 931 South
Matlack Street, West Chester, Pennsylvania 19382.
</DIV>


<DIV align="left" style="font-size: 10pt;">
<A name='109'></A>
</DIV>

<!-- link1 "GSC Holdings Corp. (see page 118)" -->


<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>GSC Holdings Corp. (see page&nbsp;118)</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
GSC Holdings Corp. is a newly incorporated Delaware corporation
and will become the new holding company of GameStop and EB upon
consummation of the mergers. Holdco&#146;s name will be changed
to &#147;GameStop Corp.&#148; after consummation of the mergers.
The address of Holdco&#146;s principal executive offices is
c/o&nbsp;GameStop Corp., 625 Westport Parkway, Grapevine, Texas
76051.
</DIV>

<P align="center" style="font-size: 10pt;">1
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV align="left" style="font-size: 10pt;">
<A name='110'></A>
</DIV>

<!-- link1 "Structure of the Mergers (see page 38)" -->


<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Structure of the Mergers (see page&nbsp;38)</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The organization of GameStop, EB and Holdco before and after the
mergers is illustrated below.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='111'></A>
</DIV>

<!-- link1 "Before the Mergers" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Before the Mergers</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<IMG src="y09199ey0919902.gif" alt="(ORGANIZATION CHART)">
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='112'></A>
</DIV>

<!-- link1 "After the Mergers" -->

<DIV align="left" style="font-size: 10pt; margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>After the Mergers</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<IMG src="y09199ey0919903.gif" alt="(ORGANIZATION CHART)">
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<A name='113'></A>
</DIV>

<!-- link1 "EB Common Stockholders to Receive Shares of Holdco Class A Common Stock and Cash (see page 33)" -->


<DIV align="left" style="font-size: 10pt; margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>EB Common Stockholders to Receive Shares of Holdco
Class&nbsp;A Common Stock and Cash (see page&nbsp;33)</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If the EB merger is completed, EB common stockholders will
receive $38.15 in cash and .78795 of a share of Holdco
Class&nbsp;A common stock per share of EB common stock that they
own. Upon completion of the mergers, current holders of EB
common stock will, as a group, own approximately 27.9% of the
outstanding common stock of Holdco, which equals approximately
5.9% of the combined voting power of Holdco. Holdco will not
issue fractional shares of Holdco common stock in exchange for
shares of EB. Holders of EB common stock that would otherwise be
entitled to a fractional share of Holdco common stock will
instead receive an amount in cash equal to such fraction
multiplied by the average of the closing sale prices of GameStop
Class&nbsp;A common stock on the ten trading days prior to the
date on which the mergers are completed.
</DIV>

<P align="center" style="font-size: 10pt;">2

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV align="left" style="font-size: 10pt;">
<A name='114'></A>
</DIV>

<!-- link1 "GameStop Common Stockholders to Receive Shares of Holdco Common Stock (see page 24)" -->


<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>GameStop Common Stockholders to Receive Shares of Holdco
Common Stock (see page&nbsp;24)</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If the GameStop merger is completed, GameStop stockholders will
exchange their shares of GameStop Class&nbsp;A common stock for
Holdco Class&nbsp;A common stock and their shares of GameStop
Class&nbsp;B common stock for Holdco Class&nbsp;B common stock,
each on a one-for-one basis. Upon completion of the mergers,
current holders of GameStop common stock will, as a group, own
approximately 72.1% of the outstanding common stock of the
combined company, which equals 94.1% of the combined voting
power.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='272'></A>
</DIV>

<!-- link1 "Stock Exchange Listing and Stock Prices (see page 79)" -->


<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Stock Exchange Listing and Stock Prices (see page&nbsp;79)</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Holdco common stock is not currently traded or quoted on a stock
exchange or quotation system. However, we have applied for the
Holdco Class&nbsp;A common stock and Holdco Class&nbsp;B common
stock to be quoted on the NYSE under the symbols &#147;GME&#148;
and &#147;GME.B,&#148; respectively.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
GameStop Class&nbsp;A common stock trades on the NYSE under the
symbol &#147;GME,&#148; GameStop Class&nbsp;B common stock
trades on the NYSE under the symbol &#147;GME.B&#148; and EB
common stock trades on the NASDAQ National Market under the
symbol &#147;ELBO.&#148; The table below shows the closing price
and the pro forma equivalent per share value of GameStop
Class&nbsp;A common stock and EB common stock at the close of
the regular trading session on April&nbsp;15, 2005, the last
trading day before our public announcement of the signing of the
merger agreement, and September&nbsp;1, 2005, the most recent
trading day for which that information was available.
</DIV>



<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; margin-top: 6pt; ">

<TR style="font-size: 1pt;">
    <TD width="23%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>GameStop Pro Forma</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>EB Pro Forma</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD align="left" nowrap><B>Date</B></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>GameStop Closing Price</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>EB Closing Price</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Equivalent(1)</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Equivalent(2)</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    April&nbsp;15, 2005</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>21.61</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>41.12</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>21.61</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>55.18</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    September&nbsp;1, 2005</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>33.50</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>64.06</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>33.50</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>64.55</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>
</CENTER>


<DIV align="left" style="font-size: 3pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<DIV style="width: 18%; border-top: 1.0pt solid black; font-size: 1pt">&nbsp;</DIV>
</DIV>

<DIV style="margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>(1)&nbsp;</TD>
    <TD align="left">
    The pro forma equivalent per share value of GameStop
    Class&nbsp;A common stock is calculated by multiplying the
    GameStop Class&nbsp;A common stock closing price by the GameStop
    merger exchange ratio of 1.0.</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>(2)&nbsp;</TD>
    <TD align="left">
    The pro forma equivalent per share value of EB common stock is
    calculated by multiplying the GameStop Class&nbsp;A common stock
    closing price by the EB merger exchange ratio of .78795 and
    adding $38.15.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Because the 1.0 and .78795 exchange ratios in the GameStop and
EB mergers, respectively, are fixed and will not be adjusted as
a result of changes in market prices, the implied value of the
merger consideration will fluctuate with the market price of
GameStop Class&nbsp;A common stock and GameStop Class&nbsp;B
common stock. You should obtain current market quotations for
the shares of both companies from a newspaper, the Internet or
your broker.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='115'></A>
</DIV>

<!-- link1 "Receipt of Shares of Holdco Common Stock in Mergers Generally Nontaxable to Stockholders (see page 72)" -->


<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Receipt of Shares of Holdco Common Stock in Mergers Generally
Nontaxable to Stockholders (see page&nbsp;72)</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The mergers have been structured to qualify as an exchange
described in Section&nbsp;351 of the Internal Revenue Code of
1986, as amended (the Code), for U.S.&nbsp;federal income tax
purposes. Accordingly, we expect that the exchange of shares by
an EB stockholder for Holdco Class&nbsp;A common stock and cash
will be nontaxable to such stockholder for U.S.&nbsp;federal
income tax purposes, except to the extent of the lesser of
(i)&nbsp;gain realized by such stockholder in the exchange and
(ii)&nbsp;cash received by such stockholder in the exchange. We
expect that the exchange of shares by GameStop stockholders will
be nontaxable to them for U.S.&nbsp;federal income tax purposes.
Further, GameStop and EB will not recognize any gain or loss for
U.S.&nbsp;federal income tax purposes in the mergers. It is a
condition to our respective obligations to complete the mergers
that GameStop and EB receive opinions from their respective
counsel that the mergers, taken together, qualify as an exchange
described in Section&nbsp;351 of the Code for U.S.&nbsp;federal
income tax purposes. In connection with the closing of the
mergers, Bryan Cave LLP, counsel to GameStop, and
</DIV>

<P align="center" style="font-size: 10pt;">3
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<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV align="left" style="font-size: 10pt;">
Klehr, Harrison, Harvey, Branzburg&nbsp;&#38; Ellers LLP,
counsel to EB, will deliver to GameStop and EB, respectively,
their opinions that the mergers will qualify as an exchange
described in Section&nbsp;351 of the Code for U.S.&nbsp;federal
income tax purposes. You should consult with your own tax
advisor for a full understanding of the tax consequences to you
of the mergers.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='116'></A>
</DIV>

<!-- link1 "Our Boards of Directors Unanimously Recommend that GameStop and EB Stockholders Vote to Adopt the Merger Agreement (see pages 24 and 33)" -->


<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Our Boards of Directors Unanimously Recommend that GameStop
and EB Stockholders Vote to Adopt the Merger Agreement (see
pages&nbsp;24 and 33)</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>GameStop Stockholders.</I> The GameStop board of directors
unanimously recommends that the GameStop stockholders
vote&nbsp;FOR the adoption of the merger proposal.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>EB Stockholders.</I> The EB board of directors unanimously
recommends that the EB stockholders vote&nbsp;FOR the adoption
of the merger agreement.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='117'></A>
</DIV>

<!-- link1 "Opinions of Financial Advisors (see pages 48 and 55)" -->


<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Opinions of Financial Advisors (see pages 48 and 55)</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>GameStop.</I> In connection with the mergers, the GameStop
board of directors received a written opinion from Citigroup
Global Markets Inc., GameStop&#146;s financial advisor, as to
the fairness, from a financial point of view, to GameStop of the
EB merger consideration. The full text of Citigroup&#146;s
written opinion, dated April&nbsp;17, 2005, is attached to this
joint proxy statement-prospectus as <U>Annex&nbsp;G</U>. We
encourage you to read this opinion carefully in its entirety for
a description of the assumptions made, procedures followed,
matters considered and limitations on the review undertaken.
<B>Citigroup&#146;s opinion was provided to the GameStop board
of directors in connection with its evaluation of the EB merger
consideration and relates only to the fairness, from a financial
point of view, to GameStop of the EB merger consideration.
Citigroup&#146;s opinion does not address any other aspect of
the mergers and does not constitute a recommendation to any
stockholder as to how such stockholder should vote or act on any
matters relating to the proposed mergers.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>EB.&nbsp;</I>In connection with the mergers, the EB board of
directors received a written opinion from Merrill Lynch, Pierce,
Fenner&nbsp;&#38; Smith Incorporated, one of EB&#146;s financial
advisors, to the effect that, as of the date of such opinion,
and based upon and subject to the assumptions made, matters
considered and qualifications and limitations set forth in the
written opinion, the consideration proposed to be received
pursuant to the EB merger was fair, from a financial point of
view, to the holders of EB common stock (other than GameStop,
its affiliates and the Kim Group). In addition, the EB board of
directors received a written opinion from Peter J. Solomon
Company, L.P., one of EB&#146;s financial advisors, to the
effect that, as of the date of such opinion, and based upon and
subject to the assumptions made, matters considered and
qualifications and limitations set forth in the written opinion,
the consideration proposed to be received by the holders of EB
common stock pursuant to the EB merger was fair from a financial
point of view to the holders of EB common stock, excluding the
Kim Group. The full text of the written opinions of Merrill
Lynch and Peter J. Solomon Company, which set forth the
assumptions made, matters considered, and qualifications and
limits on the scope of review undertaken by each of Merrill
Lynch and Peter J. Solomon Company, are attached to this joint
proxy statement-prospectus as <U>Annex&nbsp;H</U> and
<U>Annex&nbsp;I</U>, respectively. We encourage you to carefully
read and consider each of these opinions in their entirety.
<B>Both the Merrill Lynch opinion and the Peter J. Solomon
Company opinion are addressed to EB&#146;s board of directors
and address only the fairness, from a financial point of view,
of the consideration proposed to be received by the holders of
EB common stock (other than those stockholders excluded from the
opinions as noted above) pursuant to the EB merger, as of the
date of the opinions. Neither the Merrill Lynch opinion nor the
Peter J. Solomon Company opinion addresses the merits of the
underlying decision by EB to engage in the EB merger or any
other aspect of the mergers. In addition, neither the Merrill
Lynch opinion nor the Peter J. Solomon Company opinion
constitutes, or should be construed as, a recommendation to any
stockholder as to how the stockholder should vote or act with
respect to the EB merger or any related matter.</B>
</DIV>

<P align="center" style="font-size: 10pt;">4

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV align="left" style="font-size: 10pt;">
<A name='118'></A>
</DIV>

<!-- link1 "The Riggio Group Voting Agreement (see page 95)" -->


<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>The Riggio Group Voting Agreement (see page&nbsp;95)</B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In connection with the mergers, concurrently with the execution
and delivery of the merger agreement and as a condition to
EB&#146;s willingness to enter into the merger agreement,
GameStop and EB have entered into a voting agreement and
irrevocable proxy with Leonard Riggio, Barnes&nbsp;&#38; Noble
College Booksellers, Inc. and The Riggio Foundation
(collectively, the Riggio Group) pursuant to which the Riggio
Group has agreed to vote their shares of GameStop common stock
in favor of the adoption of the merger proposal. As of
August&nbsp;30, 2005, the GameStop record date, the Riggio Group
owned approximately 5.3&nbsp;million shares of GameStop
Class&nbsp;B common stock, which represents approximately 16.4%
of the combined voting power of all classes of GameStop&#146;s
voting stock. The Riggio Group also holds exercisable options to
acquire 4,500,000&nbsp;shares of GameStop Class&nbsp;A common
stock. These options are not expected to be exercised prior to
the GameStop record date and therefore the Riggio Group is not
expected to have any voting power with respect to the GameStop
Class&nbsp;A common stock.
</DIV>


<DIV align="left" style="font-size: 10pt;">
<A name='119'></A>
</DIV>

<!-- link1 "The Kim Group Voting Agreement (see page 94)" -->


<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>The Kim Group Voting Agreement (see page&nbsp;94)</B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In connection with the mergers, concurrently with the execution
and delivery of the merger agreement and as a condition to
GameStop&#146;s willingness to enter into the merger agreement,
GameStop and EB have entered into a voting agreement and
irrevocable proxy with EB Nevada Inc. and James J. Kim, the
Chairman of the Board of EB (collectively, the Kim Group),
pursuant to which the Kim Group has agreed to vote all shares of
EB common stock beneficially owned by the Kim Group in favor of
the adoption of the merger agreement and not to sell or
otherwise transfer any shares of EB common stock prior to the
termination of the voting agreement other than in limited
circumstances in accordance with its terms. As a result, as of
August&nbsp;30, 2005, the EB record date, approximately 45.6% of
the outstanding shares of EB common stock has agreed to vote to
approve the merger agreement.
</DIV>


<DIV align="left" style="font-size: 10pt;">
<A name='120'></A>
</DIV>

<!-- link1 "Interests of Our Directors and Executive Officers in the Mergers (see page 68)" -->


<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Interests of Our Directors and Executive Officers in the
Mergers (see page&nbsp;68)</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
You should be aware that some of the directors and executive
officers of GameStop and EB have interests in the mergers that
are different from, or are in addition to, the interests of
stockholders of GameStop or EB. These interests include, but are
not limited to, the treatment of options and other rights held
by directors and executive officers of GameStop and EB in the
mergers, the continued employment of certain executive officers
in Holdco, the continued positions of certain directors of
GameStop and EB as directors of Holdco, and the indemnification
of former GameStop and EB directors by Holdco.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='121'></A>
</DIV>

<!-- link1 "The Registration Rights Agreement (see page 95)" -->


<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>The Registration Rights Agreement (see page&nbsp;95)</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In connection with the consummation of the mergers and as a
condition to entering into the voting agreement with the Kim
Group, Holdco will enter into a registration rights agreement
with the Kim Group pursuant to which Holdco will be obligated to
register with the SEC the shares of Holdco Class&nbsp;A common
stock held by the Kim Group.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='122'></A>
</DIV>

<!-- link1 "The Non-Competition Agreement (see page 96)" -->


<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>The Non-Competition Agreement (see page&nbsp;96)</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In connection with the consummation of the mergers and as a
condition to the closing of the mergers, James J. Kim will enter
into a non-competition agreement with Holdco whereby
Mr.&nbsp;Kim will agree not to compete with Holdco in certain
specified territories for a period of three years from the
effectiveness of the mergers.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='123'></A>
</DIV>

<!-- link1 "Appraisal Rights (see page 79)" -->


<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Appraisal Rights (see page&nbsp;79)</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Under Delaware law, GameStop stockholders are not entitled to
appraisal rights in connection with the GameStop merger.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Holders of EB common stock who do not wish to accept the
consideration payable pursuant to the EB merger may seek, under
Section&nbsp;262 of the Delaware General Corporate Law (DGCL),
judicial
</DIV>

<P align="center" style="font-size: 10pt;">5

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV align="left" style="font-size: 10pt;">
appraisal of the fair value of their shares by the Delaware
Court of Chancery (the Delaware Court). This value could be more
than, less than or the same as the merger consideration for the
EB common stock. Failure to strictly comply with all the
procedures required by Section&nbsp;262 of the DGCL will result
in a loss of the right to appraisal.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Merely voting against the EB merger will not preserve the right
of EB stockholders to appraisal under Delaware law. Also,
because a submitted proxy not marked &#147;against&#148; or
&#147;abstain&#148; will be voted &#147;for&#148; the proposal
to adopt the merger agreement and the transactions contemplated
thereby, including the EB merger, the submission of a proxy not
marked &#147;against&#148; or &#147;abstain&#148; will result in
the waiver of appraisal rights. EB stockholders who hold shares
in the name of a broker or other nominee must instruct their
nominee to take the steps necessary to enable them to demand
appraisal for their shares.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Annex&nbsp;J</U> to this joint proxy statement-prospectus
contains the full text of Section&nbsp;262 of the DGCL, which
relates to the rights of appraisal. We encourage you to read
these provisions carefully and in their entirety.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 15pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<A name='124'></A>
</DIV>

<!-- link1 "Directors and Management Following the Mergers (see page 71)" -->


<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Directors and Management Following the Mergers (see
page&nbsp;71)</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 9pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Following the mergers, the board of directors of Holdco will
consist of the seven current GameStop directors, James J. Kim
and Stanley (Mickey) Steinberg. The GameStop directors will
generally remain in their current classes and serve out their
remaining terms, although to make the three classes equal, one
of the Class&nbsp;III directors being elected at the GameStop
annual meeting (Daniel A. DeMatteo, if he is re-elected) will
become a Class&nbsp;I director whose term will expire in 2006.
Mr.&nbsp;Kim will be in the class of directors whose term
expires in 2007 and Mr.&nbsp;Steinberg will be in the class of
directors whose term expires in 2008.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
R.&nbsp;Richard Fontaine, the Chairman and Chief Executive
Officer of GameStop, will be the Chairman and Chief Executive
Officer of Holdco after the mergers. Daniel A. DeMatteo, the
Vice Chairman and Chief Operating Officer of GameStop, will be
the Vice Chairman and Chief Operating Officer of Holdco after
the mergers. It is expected that additional management of Holdco
will be determined and announced on or near the date of the
mergers.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 15pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<A name='125'></A>
</DIV>

<!-- link1 "Conditions to Completion of the Mergers; Antitrust Clearance (see page 84)" -->


<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Conditions to Completion of the Mergers; Antitrust Clearance
(see page&nbsp;84)</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 9pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Completion of the mergers depends on a number of conditions
being satisfied or waived. These conditions include the
following:
</DIV>

<DIV style="margin-top: 9pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    adoption of the merger proposal and the transactions
    contemplated by the merger proposal, including the GameStop
    merger, by the GameStop stockholders;</TD>
</TR>

<TR>
    <TD style="font-size: 9pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    adoption of the merger agreement and the transactions
    contemplated by the merger agreement, including the EB merger,
    by the EB stockholders;</TD>
</TR>

<TR>
    <TD style="font-size: 9pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    absence of any order or injunction of any governmental authority
    that would prohibit the consummation of the mergers;</TD>
</TR>

<TR>
    <TD style="font-size: 9pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    approval for listing of Holdco common stock to be issued in the
    mergers on the NYSE upon official notice of issuance;</TD>
</TR>

<TR>
    <TD style="font-size: 9pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    receipt of all consents, approvals, waivers, actions or
    nonactions required or advisable under all applicable antitrust,
    merger control, competition or trade regulation laws, including
    under the Hart-Scott-Rodino Antitrust&nbsp;Improvements Act of
    1976 (the HSR Act) and the Italian Law No.&nbsp;287 of 10
    October 1990;</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">6

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<DIV style="margin-top: 9pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    continued effectiveness of the registration statement of which
    this joint proxy statement-prospectus is a part and the absence
    of a stop order or proceeding seeking a stop order by the SEC
    suspending the effectiveness of the registration statement;</TD>
</TR>

<TR>
    <TD style="font-size: 9pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    accuracy of each party&#146;s representations and warranties in
    the merger agreement, except as would not have a material
    adverse effect on the party making the representations;</TD>
</TR>

<TR>
    <TD style="font-size: 9pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    performance in all material respects of each party&#146;s
    covenants in the merger agreement, and performance of each
    party&#146;s pre-closing operating covenants in the merger
    agreement;</TD>
</TR>

<TR>
    <TD style="font-size: 9pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the delivery of a tax opinion as required by the separation
    agreement between GameStop and Barnes&nbsp;&#38; Noble, Inc.
    (Barnes&nbsp;&#38; Noble);</TD>
</TR>

<TR>
    <TD style="font-size: 9pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the delivery of a non-competition agreement by James J. Kim;</TD>
</TR>

<TR>
    <TD style="font-size: 9pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    there shall not have been a material adverse effect on either
    party, as defined in the merger agreement;&nbsp;and</TD>
</TR>

<TR>
    <TD style="font-size: 9pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    delivery by both parties of customary officer&#146;s
    certificates and tax opinions.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The completion of the mergers is not subject to a condition that
GameStop receive financing to pay the cash portion of the EB
merger consideration.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The completion of the mergers is subject to compliance with the
HSR Act. The waiting period relating to the mergers under the
HSR&nbsp;Act expired as of 11:59&nbsp;p.m. Eastern Time on
June&nbsp;8, 2005.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
GameStop and EB have agreed to use their reasonable best efforts
to take, or cause to be taken, all actions necessary, proper or
advisable under applicable law and regulations, including the
HSR Act, to complete the mergers as promptly as practicable, but
in no event later than October&nbsp;31, 2005, which date may be
extended to December&nbsp;31, 2005 or January&nbsp;31, 2006, in
circumstances described below, in &#147;Summary&nbsp;&#151;
Termination of the Merger Agreement; Fees Payable&#148;
beginning on page&nbsp;7 and in &#147;The Mergers&nbsp;&#151;
The Merger Agreement&nbsp;&#151; Termination&#148; beginning on
page&nbsp;89. We refer to this October&nbsp;31, 2005 date, as it
may be extended, as the outside date.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The parties have agreed to defend against any lawsuits or other
legal proceedings challenging the mergers, provided, that, if
one of the parties in good faith does not wish to participate in
the defense of such lawsuit or legal proceeding, then the other
party shall pay the expenses for such defense. Neither party
will be required to take any action that would reasonably be
expected to have a material adverse effect on such party.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 15pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<A name='126'></A>
</DIV>

<!-- link1 "Termination of the Merger Agreement; Fees Payable (see page 89)" -->


<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Termination of the Merger Agreement; Fees Payable (see
page&nbsp;89)</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 9pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
We may jointly agree to terminate the merger agreement at any
time. Either of us may also terminate the merger agreement in
various circumstances, including failure to receive necessary
stockholder approvals and if the other party breaches certain of
its obligations in the merger agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In several circumstances involving a change in a board of
directors&#146; recommendation in favor of the merger agreement
or a third-party acquisition proposal, GameStop or EB may become
obligated to pay $40&nbsp;million in termination fees pursuant
to the terms of the merger agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 15pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<A name='127'></A>
</DIV>

<!-- link1 "Amendment to GameStop&#146;s Certificate of Incorporation (see page 96)" -->


<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Amendment to GameStop&#146;s Certificate of Incorporation
(see page&nbsp;96)</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 9pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In connection with the mergers, Article&nbsp;Fourth (b)(v) of
the amended and restated certificate of incorporation of
GameStop relating to the equal treatment of holders of GameStop
Class&nbsp;A common stock and GameStop Class&nbsp;B common stock
holders in mergers, consolidations, etc., will be amended,
subject to GameStop stockholder approval, to permit the receipt
by the holders of GameStop Class&nbsp;B common stock, in any
consolidation, merger, combination or other transaction in which
shares of
</DIV>

<P align="center" style="font-size: 10pt;">7

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<DIV align="left" style="font-size: 10pt;">
GameStop common stock are exchanged for other securities or
property, of securities that differ as to voting rights and
powers on a per share basis from securities received by holders
of GameStop Class&nbsp;A common stock, provided that such
difference shall not exceed ten to one. This amendment is
necessary to allow for the payment of the GameStop merger
consideration in accordance with the terms of the merger
agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 15pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<A name='128'></A>
</DIV>

<!-- link1 "GameStop Annual Meeting (see page 23)" -->


<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>GameStop Annual Meeting (see page&nbsp;23)</B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 9pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The GameStop annual meeting will be held at the Wyndham Anatole
Hotel, 2201 Stemmons Freeway, Dallas, Texas, on October&nbsp;6,
2005, starting at 12:00&nbsp;p.m., local time.
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
You may vote at the GameStop annual meeting if you owned shares
of GameStop common stock at the close of business on
August&nbsp;30, 2005, the GameStop record date. On that date
there were 21,949,509&nbsp;shares of GameStop Class&nbsp;A
common stock and 29,901,662&nbsp;shares of GameStop Class&nbsp;B
common stock outstanding and entitled to vote at the GameStop
annual meeting.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The presence of a majority of the voting power of the shares of
GameStop common stock entitled to vote at the GameStop annual
meeting must be represented in person or by proxy at the
GameStop annual meeting to constitute a quorum. The adoption of
the merger agreement and the transactions contemplated thereby,
including the GameStop merger, the approval of the amendment to
GameStop&#146;s certificate of incorporation and the amendment
to the GameStop Amended and Restated 2001 Incentive Plan
(collectively, the merger proposal) requires the affirmative
vote of a majority of the outstanding shares of GameStop
Class&nbsp;A common stock, voting as a single class, and the
affirmative vote of a majority of the outstanding shares of
GameStop Class&nbsp;A common stock and GameStop Class&nbsp;B
common stock, voting together as a single class. The adoption of
the Holdco 2005 Incentive Plan requires the affirmative vote of
a majority of the voting power of GameStop common stock voting
on the proposal in person or by proxy at the GameStop annual
meeting. The three nominees for director receiving the highest
vote totals will be elected as directors of GameStop to serve
until the 2008 GameStop annual meeting of stockholders. The
ratification of BDO Seidman, LLP as GameStop&#146;s registered
independent public accounting firm requires the affirmative vote
of a majority of the voting power of GameStop common stock
voting on the proposal in person or by proxy at the GameStop
annual meeting. At the GameStop annual meeting, each holder of
GameStop Class&nbsp;A common stock is entitled to one vote for
each share of GameStop Class&nbsp;A common stock, and each
holder of GameStop Class&nbsp;B common stock is entitled to ten
votes for each share of GameStop Class&nbsp;B common stock, held
as of the GameStop record date on all matters properly submitted
to the GameStop stockholders.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Pursuant to a voting agreement with the Riggio Group, the Riggio
Group has agreed to vote their shares of GameStop common stock
in favor of the adoption of the merger proposal. As of
August&nbsp;30, 2005, the GameStop record date, the Riggio Group
owned approximately 5.3&nbsp;million shares of GameStop
Class&nbsp;B common stock, which represents approximately 16.4%
of the combined voting power of all classes of GameStop&#146;s
voting stock. The Riggio Group also holds exercisable options to
acquire 4,500,000&nbsp;shares of GameStop Class&nbsp;A common
stock. These options are not expected to be exercised prior to
the GameStop record date and therefore the Riggio Group is not
expected to have any voting power with respect to the GameStop
Class&nbsp;A common stock.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 15pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<A name='129'></A>
</DIV>

<!-- link1 "EB Annual Meeting (see page 32)" -->


<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>EB Annual Meeting (see page&nbsp;32)</B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 9pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The EB annual meeting will be held at EB&#146;s executive
offices at 931 South Matlack Street, West Chester, Pennsylvania,
on October&nbsp;6, 2005, starting at 1:00&nbsp;p.m., local time.
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
You may vote at the EB annual meeting if you owned shares of EB
common stock at the close of business on August&nbsp;30, 2005,
the EB record date. On that date there were
25,383,744&nbsp;shares of EB&nbsp;common stock outstanding and
entitled to vote at the EB annual meeting. You may cast one vote
for each share of EB common stock you owned as of the EB record
date.
</DIV>


<P align="center" style="font-size: 10pt;">8
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The presence of a majority of the outstanding shares of EB
common stock entitled to vote at the EB annual meeting must be
represented in person or by proxy at the EB annual meeting to
constitute a quorum. The adoption of the merger agreement and
the transactions contemplated thereby, including the EB merger,
requires the affirmative vote of a majority of the outstanding
shares of EB common stock. The adoption of the Holdco 2005
Incentive Plan requires the affirmative vote of a majority of
the outstanding shares of EB common stock voting on the proposal
in person or by proxy at the EB annual meeting. The seven
nominees for EB director receiving the highest vote totals will
be elected as directors of EB to serve until the next EB annual
meeting of stockholders or until their earlier resignation. The
ratification of KPMG LLP as EB&#146;s registered independent
public accounting firm requires the affirmative vote of a
majority of the outstanding shares of EB common stock voting on
the proposal in person or by proxy at the EB annual meeting.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Pursuant to a voting agreement with the Kim Group, the Kim Group
has agreed, subject to certain limitations, to vote their shares
of EB common stock in favor of the adoption of the merger
agreement. As of August&nbsp;30, 2005, the EB record date, the
Kim Group beneficially owned approximately 11.6&nbsp;million
shares of EB common stock, which represent approximately 45.6%
of the outstanding shares of EB common stock at the EB annual
meeting.
</DIV>


<P align="center" style="font-size: 10pt;">9

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<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV align="left" style="font-size: 10pt;">
<A name='130'></A>
</DIV>

<!-- link1 "SELECTED HISTORICAL AND PRO FORMA FINANCIAL DATA" -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>SELECTED HISTORICAL AND PRO FORMA FINANCIAL DATA</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The following financial information is provided to assist you in
your analysis of the financial aspects of the mergers. The
following tables present (1)&nbsp;selected historical financial
data of GameStop, (2)&nbsp;selected historical financial data of
EB, and (3)&nbsp;selected unaudited pro forma condensed
consolidated financial data of Holdco reflecting the mergers.
The historical financial data show the financial results
actually achieved by GameStop and EB for the periods indicated.
The unaudited pro forma condensed consolidated financial data
show financial results as if the mergers had taken place on
February&nbsp;1, 2004, except financial position data which
assumes the mergers had taken place on January&nbsp;29, 2005.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='131'></A>
</DIV>

<!-- link1 "Selected Historical Financial Data of GameStop" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Selected Historical Financial Data of GameStop</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The selected historical financial data of GameStop was derived
from the historical consolidated financial statements and
related notes of GameStop, filed by GameStop with the SEC. Such
data was derived from, and should be read in conjunction with,
the audited consolidated financial statements and other
financial information contained in GameStop&#146;s Annual Report
on Form&nbsp;10-K (as amended) for GameStop fiscal 2004 (as
defined below), including the notes thereto and GameStop&#146;s
Quarterly Report on Form&nbsp;10-Q (as amended) for the fiscal
quarter ended April&nbsp;30, 2005, including the notes thereto.
See &#147;Where You Can Find More Information&#148; beginning on
page&nbsp;162. The unaudited consolidated financial statements
as of and for the fiscal quarters ended May&nbsp;1, 2004 and
April&nbsp;30, 2005 have been prepared on the same basis as the
audited consolidated financial statements for the fiscal years
ended February&nbsp;3, 2001, February&nbsp;2, 2002,
February&nbsp;1, 2003, January&nbsp;31, 2004 and
January&nbsp;29, 2005. In the opinion of management, the interim
data reflects all adjustments, consisting of only normal and
recurring adjustments, necessary for a fair presentation of
results for these periods. Operating results for the fiscal
quarter ended April&nbsp;30, 2005 are not necessarily indicative
of the results that may be expected for the fiscal year ending
January&nbsp;28, 2006.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The following table sets forth GameStop&#146;s selected
consolidated financial and operating data for the periods and at
the dates indicated. GameStop&#146;s fiscal year is composed of
52 or 53&nbsp;weeks ending on the Saturday closest to January
31. The fiscal years ended January&nbsp;29, 2005 (GameStop
fiscal 2004), January&nbsp;31, 2004 (GameStop fiscal 2003),
February&nbsp;1, 2003 (GameStop fiscal 2002) and
February&nbsp;2, 2002 (GameStop fiscal 2001) consisted of
52&nbsp;weeks and the fiscal year ended February&nbsp;3, 2001
(GameStop fiscal 2000) consisted of 53&nbsp;weeks.
</DIV>


<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 9pt; margin-top: 6pt; ">

<TR style="font-size: 1pt;">
    <TD width="27%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Fiscal</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Fiscal</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Fiscal Year</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Fiscal Year</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Fiscal Year</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Fiscal Year</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Fiscal Year</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Quarter</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Quarter</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Ended</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Ended</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Ended</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Ended</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Ended</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Ended</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Ended</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>January&nbsp;29,</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>January&nbsp;31,</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>February&nbsp;1,</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>February&nbsp;2,</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>February&nbsp;3,</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>April&nbsp;30,</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>May&nbsp;1,</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>2005</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>2004</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>2003</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>2002</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>2001</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>2005</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>2004</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>


<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="26" align="center" nowrap><B>In thousands, except per share data and statistical data</B></TD><TD></TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <B>Statement of Operations Data:</B></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Sales</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>1,842,806</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>1,578,838</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>1,352,791</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>1,121,138</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>756,697</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>474,727</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>371,736</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Cost of sales</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,333,506</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,145,893</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,012,145</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>855,386</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>570,995</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>348,690</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>267,094</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Gross profit</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>509,300</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>432,945</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>340,646</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>265,752</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>185,702</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>126,037</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>104,642</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Selling, general and administrative expenses(1)(2)</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>373,364</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>299,193</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>230,461</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>200,698</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>157,242</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>98,986</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>85,622</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Depreciation and amortization(1)(2)</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>36,789</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>29,368</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>23,114</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>19,842</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>13,623</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>10,194</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>8,250</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Amortization of goodwill</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>11,125</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>9,223</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Operating earnings</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>99,147</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>104,384</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>87,071</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>34,087</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>5,614</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>16,857</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>10,770</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Interest expense (income), net</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>236</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(804</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(630</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>19,452</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>23,411</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>83</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(153</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Earnings (loss) before income taxes</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>98,911</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>105,188</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>87,701</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>14,635</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(17,797</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>16,774</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>10,923</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Income tax expense (benefit)</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>37,985</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>41,721</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>35,297</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>7,675</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(5,836</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>6,448</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>4,245</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

</TABLE>
</CENTER>


<P align="center" style="font-size: 10pt;">10

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>


<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 9pt; ">

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    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Fiscal</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Fiscal</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Fiscal Year</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Fiscal Year</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Fiscal Year</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Fiscal Year</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Fiscal Year</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Quarter</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Quarter</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Ended</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Ended</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Ended</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Ended</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Ended</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Ended</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Ended</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>January&nbsp;29,</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>January&nbsp;31,</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>February&nbsp;1,</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>February&nbsp;2,</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>February&nbsp;3,</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>April&nbsp;30,</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>May&nbsp;1,</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>2005</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>2004</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>2003</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>2002</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>2001</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>2005</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>2004</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>


<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="26" align="center" nowrap><B>In thousands, except per share data and statistical data</B></TD><TD></TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Net earnings (loss)</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>60,926</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>63,467</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>52,404</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>6,960</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>(11,961</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>10,326</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>6,678</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Net earnings (loss) per Class&nbsp;A and Class&nbsp;B
    share&nbsp;&#151; basic(5)</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>1.11</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>1.13</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>0.93</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>0.19</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>(0.33</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>0.20</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>0.12</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Weighted average shares outstanding&nbsp;&#151; basic</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>54,662</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>56,330</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>56,289</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>36,009</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>36,009</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>51,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>56,990</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Net earnings (loss) per Class&nbsp;A and Class&nbsp;B
    share&nbsp;&#151; diluted(5)</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>1.05</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>1.06</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>0.87</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>0.18</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>(0.33</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>0.19</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>0.11</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Weighted average shares outstanding&nbsp;&#151; diluted</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>57,796</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>59,764</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>60,419</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>39,397</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>36,009</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>54,490</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>60,130</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <B>Other Financial Data:</B></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Net earnings (loss) excluding the after-tax effect of goodwill
    amortization(3)</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>60,926</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>63,467</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>52,404</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>15,373</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>(5,212</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>10,326</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>6,678</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Net earnings (loss) per Class&nbsp;A and Class&nbsp;B share
    excluding the after-tax effect of goodwill
    amortization&nbsp;&#151; diluted(3)(5)</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>1.05</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>1.06</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>0.87</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>0.39</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>(0.14</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>0.19</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>0.11</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <B>Store Operating Data:</B></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Stores open at the end of period</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,826</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,514</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,231</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,038</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>978</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,908</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,603</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Comparable store sales increase (decrease)(4)</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1.7</TD>
    <TD align="left" valign="bottom" nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0.8</TD>
    <TD align="left" valign="bottom" nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>11.4</TD>
    <TD align="left" valign="bottom" nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>32.0</TD>
    <TD align="left" valign="bottom" nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(6.7</TD>
    <TD align="left" valign="bottom" nowrap>)%</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>12.0</TD>
    <TD align="left" valign="bottom" nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(1.8</TD>
    <TD align="left" valign="bottom" nowrap>)%</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Inventory turnover</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>5.4</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>4.9</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>4.9</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>5.2</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>4.6</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1.3</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1.2</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <B>Balance Sheet Data:</B></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Working capital (deficit)</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>110,093</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>188,378</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>174,482</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>31,107</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>(1,726</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>117,578</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>185,559</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Total assets(1)(2)</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>914,983</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>902,189</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>806,237</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>608,674</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>511,504</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>942,156</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>843,607</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Total debt</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>36,520</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>399,623</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>385,148</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>36,520</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Total liabilities(1)(2)</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>371,972</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>308,156</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>257,562</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>612,659</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>532,114</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>379,719</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>236,994</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Stockholders&#146; equity (deficit)</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>543,011</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>594,033</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>548,675</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(3,985</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(20,610</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>562,437</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>606,613</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>
</CENTER>


<DIV align="left" style="font-size: 3pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<DIV style="width: 18%; border-top: 1.0pt solid black; font-size: 1pt">&nbsp;</DIV>
</DIV>

<DIV style="margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>(1)&nbsp;</TD>
    <TD align="left">
    In GameStop fiscal 2004, GameStop revised its method of
    accounting for rent expense to conform to GAAP, as recently
    clarified by the Chief Accountant of the SEC in a
    February&nbsp;7, 2005 letter to the American Institute of
    Certified Public Accountants. A non-cash, after-tax adjustment
    of $3,312 was made in the fourth quarter of GameStop fiscal 2004
    to correct the method of accounting for rent expense (and
    related deferred rent liability) to include the impact of
    escalating rents for periods in which GameStop is reasonably
    assured of exercising lease options and to include any
    &#147;rent holiday&#148; period (a period during which GameStop
    is not obligated to pay rent) the lease allows while the store
    is being constructed. GameStop also corrected its calculation of
    depreciation expense for leasehold improvements for those leases
    which do not include an option period.</TD>
</TR>

</TABLE>

<DIV style="margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
     The impact of these corrections on periods prior to GameStop
    fiscal 2004 was not material and the adjustment does not affect
    historical or future cash flows or the timing of payments under
    related leases.</TD>
</TR>

</TABLE>

<DIV style="margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>(2)&nbsp;</TD>
    <TD align="left">
    In GameStop fiscal 2004, GameStop changed its classification of
    tenant improvement allowances on the balance sheets, statement
    of operations and statements of cash flows. GameStop
    historically classified tenant improvement allowances as
    reductions of property and equipment on its balance</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">11

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD align="left">
    sheets and as reductions in depreciation and amortization in its
    statements of operations. In order to comply with the provisions
    of FASB Technical Bulletin&nbsp;No.&nbsp;88-1, &#147;Issues
    Relating to Accounting for Leases&#148; (FTB&nbsp;88-1),
    however, GameStop has reclassified tenant improvement allowances
    as deferred rent liabilities (in other long-term liabilities) on
    its balance sheets and as a reduction of rent expense (in
    selling, general and administrative expenses) in its statements
    of operations. The effect of this reclassification increased
    total assets and total liabilities on GameStop&#146;s balance
    sheets by $4,671 as of January&nbsp;29, 2005, $3,265 as of
    January&nbsp;31, 2004, $2,328 as of February&nbsp;1, 2003,
    $1,831 as of February&nbsp;2, 2002, $1,747 as of
    February&nbsp;3, 2001 and $3,549 as of May&nbsp;1, 2004 and
    decreased selling, general and administrative expense and
    increased depreciation expense in GameStop&#146;s statements of
    operations by $671, $540, $601, $678, $649 and $155 in GameStop
    fiscal 2004, 2003, 2002, 2001, 2000 and the fiscal quarter ended
    May&nbsp;1, 2004, respectively.</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>(3)&nbsp;</TD>
    <TD align="left">
    Net earnings (loss) excluding the after-tax effect of goodwill
    amortization is presented here to provide additional information
    about GameStop&#146;s operations. These items should be
    considered in addition to, but not as a substitute for or
    superior to, operating earnings, net earnings, cash flow and
    other measures of financial performance prepared in accordance
    with generally accepted accounting principles (GAAP).</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>(4)&nbsp;</TD>
    <TD align="left">
    Stores are included in GameStop&#146;s comparable store sales
    base beginning in the 13th&nbsp;month of operation. Comparable
    store sales for the fiscal year ended February&nbsp;3, 2001 were
    computed using the first 52&nbsp;weeks of the 53-week fiscal
    year.</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>


<TR valign="top">
    <TD>(5)&nbsp;</TD>
    <TD align="left">
    The holders of GameStop Class&nbsp;A and Class&nbsp;B common
    stock generally have identical rights, except that the holders
    of GameStop Class&nbsp;A common stock are entitled to one vote
    per share and the holders of GameStop Class&nbsp;B common stock
    are entitled to ten votes per share on all matters to be voted
    on by stockholders. Earnings per common share amounts represent
    per share amounts for both classes of common stock.</TD>
</TR>


</TABLE>

<DIV align="left" style="font-size: 10pt;">
<A name='132'></A>
</DIV>

<!-- link1 "Selected Historical Financial Data of EB" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Selected Historical Financial Data of EB</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
For the periods indicated, the selected historical financial
data of EB was derived from the historical consolidated
financial statements and related notes of EB, filed by EB with
the SEC. This data was derived from, and should be read in
conjunction with, the audited consolidated financial statements
and other financial information contained in EB&#146;s Annual
Report on Form&nbsp;10-K (as amended) for EB fiscal 2005 (as
defined below), including the notes thereto and EB&#146;s
Quarterly Report on Form&nbsp;10-Q (as amended) for the fiscal
quarter ended April&nbsp;30, 2005, including the notes thereto.
See &#147;Where You Can Find More Information&#148; beginning on
page&nbsp;162. The unaudited consolidated financial statements
as of and for the fiscal quarters ended May&nbsp;1, 2004 and
April&nbsp;30, 2005 have been prepared in accordance with GAAP
for interim financial information and with the instructions to
Form&nbsp;10-Q and Article&nbsp;10 of Regulation&nbsp;S-X. In
the opinion of management, the interim data reflects all
adjustments, consisting of only normal and recurring
adjustments, necessary for a fair presentation of results for
these periods. Operating results for the fiscal quarter ended
April&nbsp;30, 2005 are not necessarily indicative of the
results that may be expected for the fiscal year ending
January&nbsp;28, 2006.
</DIV>


<P align="center" style="font-size: 10pt;">12

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The following table sets forth EB&#146;s selected consolidated
financial and operating data for the periods and at the dates
indicated. EB&#146;s fiscal year is composed of 52 or
53&nbsp;weeks ending on the Saturday closest to January 31. The
fiscal years ended January&nbsp;29, 2005 (EB fiscal 2005),
January&nbsp;31, 2004 (EB fiscal 2004), February&nbsp;1, 2003
(EB fiscal 2003) and February&nbsp;2, 2002 (EB fiscal 2002)
consisted of 52&nbsp;weeks and the fiscal year ended
February&nbsp;3, 2001 (EB fiscal 2001) consisted of
53&nbsp;weeks. GameStop refers to the fiscal years described
above as GameStop fiscal 2004, GameStop fiscal 2003, GameStop
fiscal 2002, GameStop fiscal 2001 and GameStop fiscal 2000,
respectively.
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 9pt; margin-top: 6pt; ">

<TR style="font-size: 1pt;">
    <TD width="3%">&nbsp;</TD>
    <TD width="24%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
</TR>


<TR style="font-size: 7pt;">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="18" align="center" nowrap><B>Fiscal Year Ended</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap><B>Fiscal Quarter Ended</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="18" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR style="font-size: 7pt;">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>January&nbsp;29,</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>January&nbsp;31,</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>February&nbsp;1,</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>February&nbsp;2,</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>February&nbsp;3,</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>April&nbsp;30,</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>May&nbsp;1,</B></TD><TD></TD>
</TR>

<TR style="font-size: 7pt;">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>2005</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>2004</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>2003</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>2002</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>2001</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>2005</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>2004</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>


<TR style="font-size: 7pt;">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="26" align="center" nowrap><B>(Amounts in thousands, except per share data and operating data)</B></TD><TD></TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <B>Statement of Income Data:</B></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Net sales</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>1,983,537</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>1,588,406</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>1,309,226</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>1,059,338</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>802,851</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>505,961</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>370,964</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Management fees(1)</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>5,845</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>13,375</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>7,553</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>5,889</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>4,425</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,124</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,461</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Total revenues</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,989,382</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,601,781</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,316,779</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,065,227</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>807,276</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>507,085</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>372,425</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Cost of goods sold</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,450,205</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,174,429</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>971,204</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>826,599</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>626,939</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>374,360</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>271,154</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Gross profit</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>539,177</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>427,352</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>345,575</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>238,628</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>180,337</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>132,725</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>101,271</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Selling, general and administrative expense(2)</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>422,374</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>327,260</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>266,729</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>178,928</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>144,082</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>118,502</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>88,525</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Restructuring and asset impairment (reversal)&nbsp;charge(3)</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(2,611</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>12,638</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Depreciation and amortization</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>37,473</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>29,211</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>23,361</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>20,286</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>16,239</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>10,802</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>8,361</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Operating income</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>79,330</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>70,881</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>58,096</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>26,776</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>20,016</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>3,421</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>4,385</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Other income</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,550</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Interest income, net</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>2,350</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,751</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,677</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,884</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>3,096</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>917</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>452</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Income before income tax expense and cumulative effect of change
    in accounting principle</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>81,680</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>72,632</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>59,773</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>28,660</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>24,662</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>4,338</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>4,837</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Income tax expense</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>29,393</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>26,903</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>22,373</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>10,948</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>9,791</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,561</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,791</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Income before cumulative effect of change in accounting principle</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>52,287</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>45,729</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>37,400</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>17,712</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>14,871</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>2,777</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>3,046</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Cumulative effect of change in accounting principle, net of
    tax(4)</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(4,773</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Net income(2)</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>52,287</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>45,729</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>32,627</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>17,712</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>14,871</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>2,777</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>3,046</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Income per share before cumulative effect of change in
    accounting principle:</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Basic</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>2.16</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>1.82</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>1.44</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>0.74</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>0.67</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>0.11</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>0.12</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Diluted</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>2.13</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>1.80</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>1.42</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>0.73</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>0.66</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>0.11</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>0.12</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Per share cumulative effect of change in accounting principle:</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Basic</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>(0.18</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Diluted</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>(0.18</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

</TABLE>
</CENTER>

<P align="center" style="font-size: 10pt;">13

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 9pt; ">

<TR style="font-size: 1pt;">
    <TD width="3%">&nbsp;</TD>
    <TD width="24%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
</TR>


<TR style="font-size: 7pt;">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="18" align="center" nowrap><B>Fiscal Year Ended</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap><B>Fiscal Quarter Ended</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="18" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR style="font-size: 7pt;">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>January&nbsp;29,</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>January&nbsp;31,</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>February&nbsp;1,</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>February&nbsp;2,</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>February&nbsp;3,</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>April&nbsp;30,</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>May&nbsp;1,</B></TD><TD></TD>
</TR>

<TR style="font-size: 7pt;">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>2005</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>2004</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>2003</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>2002</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>2001</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>2005</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>2004</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>


<TR style="font-size: 7pt;">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="26" align="center" nowrap><B>(Amounts in thousands, except per share data and operating data)</B></TD><TD></TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Net income per share:</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Basic</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>2.16</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>1.82</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>1.26</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>0.74</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>0.67</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>0.11</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>0.12</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Diluted</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>2.13</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>1.80</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>1.24</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>0.73</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>0.66</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>0.11</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>0.12</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Weighted average shares outstanding:</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Basic</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>24,159</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>25,114</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>25,833</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>23,868</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>22,254</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>24,696</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>24,526</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Diluted</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>24,547</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>25,415</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>26,247</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>24,230</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>22,466</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>25,079</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>24,913</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <B>Operating Data:(5)<BR>
    (unaudited)</B></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Stores open at end of period</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,977</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,528</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,145</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>937</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>737</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>2,071</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,623</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Comparable store sales increase (decrease)(6)</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>3.1</TD>
    <TD align="left" valign="bottom" nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0.0</TD>
    <TD align="left" valign="bottom" nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>8.3</TD>
    <TD align="left" valign="bottom" nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>20.8</TD>
    <TD align="left" valign="bottom" nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(4.5</TD>
    <TD align="left" valign="bottom" nowrap>)%</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>14.5</TD>
    <TD align="left" valign="bottom" nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(2.5</TD>
    <TD align="left" valign="bottom" nowrap>)%</TD>
</TR>

</TABLE>
</CENTER>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; margin-top: 6pt; ">

<TR style="font-size: 1pt;">
    <TD width="21%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
</TR>


<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="26" align="center" nowrap><B>As of</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="26" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>January&nbsp;29,</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>January&nbsp;31,</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>February&nbsp;1,</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>February&nbsp;2,</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>February&nbsp;3,</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>April&nbsp;30,</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>May&nbsp;1,</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>2005</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>2004</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>2003</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>2002</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>2001</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>2005</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>2004</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <B>Balance Sheet Data:</B></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Working capital</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>175,422</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>163,422</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>144,363</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>121,446</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>30,133</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>181,769</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>149,284</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Total assets</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>724,200</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>643,932</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>527,305</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>429,649</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>270,493</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>723,068</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>544,834</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Long-term debt</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>143</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Total liabilities</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>372,732</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>339,952</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>252,805</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>192,489</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>139,273</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>365,635</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>255,159</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Total stockholders&#146; equity</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>351,468</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>303,980</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>274,500</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>237,160</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>131,220</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>357,433</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>289,675</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>
</CENTER>

<DIV align="left" style="font-size: 3pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<DIV style="width: 18%; border-top: 1.0pt solid black; font-size: 1pt">&nbsp;</DIV>
</DIV>

<DIV style="margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>(1)&nbsp;</TD>
    <TD align="left">
    In EB fiscal 2004, management fees included $4.7&nbsp;million of
    revenue earned as part of EB&#146;s termination of the services
    agreement with The Game Group plc (Game Group).</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>(2)&nbsp;</TD>
    <TD align="left">
    In February 2005, EB initiated a review of its lease-related
    accounting methods for rent holidays (the period prior to the
    store opening when EB pays reduced or no rent) and tenant
    improvement allowances. Based on this review, EB recorded a
    one-time, cumulative, non-cash charge to rent expense of
    $4.2&nbsp;million ($2.7&nbsp;million after-tax, or
    $0.11&nbsp;per diluted share) in the fourth quarter of EB fiscal
    2005.</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>(3)&nbsp;</TD>
    <TD align="left">
    In EB fiscal 2002, the restructuring and asset impairment charge
    of $12.6&nbsp;million resulted from EB&#146;s adoption of a plan
    to close the operations of all 29 EB Kids stores and sell the
    22-store BC Sports Collectibles business. The charge represented
    a $3.5&nbsp;million write down of store leasehold improvements,
    a $2.3&nbsp;million write down of store furniture, fixtures and
    equipment and $6.7&nbsp;million in lease termination costs. In
    EB fiscal 2003, the $2.6&nbsp;million net reversal of the
    restructuring and asset impairment charge resulted primarily
    from store lease related accruals that were not necessary due to
    the terms of the sale of the BC Sports Collectibles business.</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>(4)&nbsp;</TD>
    <TD align="left">
    EB changed its accounting policy with respect to the recording
    of vendor advertising allowances effective retroactively as of
    the beginning of EB fiscal 2003. As a result, EB recorded a
    non-cash charge of $4.8&nbsp;million, net of income tax, in the
    first quarter of EB fiscal 2003 for the cumulative effect of the
    change in accounting principle on fiscal years prior to EB
    fiscal 2003. Prior to this change, EB recognized all vendor
    advertising allowances as an offset to selling, general and
    administrative expense. Vendor advertising allowances in excess
    of advertising expense of $40.9&nbsp;million and
    $35.8&nbsp;million were reflected as an offset to selling,
    general and administrative expense in EB fiscal 2002 and EB
    fiscal 2001, respectively.</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>(5)&nbsp;</TD>
    <TD align="left">
    Does not reflect stores operated by other retailers for which EB
    has provided management services.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">14

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>(6)&nbsp;</TD>
    <TD align="left">
    Comparable store sales are based on stores in operation for over
    one year. Comparable store sales results for EB fiscal 2001
    represents the 52&nbsp;week period ending January&nbsp;27, 2001.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt;">
<A name='133'></A>
</DIV>

<!-- link1 "Selected Unaudited Pro Forma Condensed Consolidated Financial Data of Holdco" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Selected Unaudited Pro Forma Condensed Consolidated Financial
Data of Holdco</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The following table shows information about the pro forma
financial condition and results of operations, including per
share data, of Holdco after giving effect to the mergers. The
table sets forth selected unaudited pro forma condensed
consolidated statement of operations data as if the mergers had
become effective on February&nbsp;1, 2004, and selected
unaudited pro forma condensed consolidated balance sheet data as
if the mergers had occurred on April&nbsp;30, 2005. The
information presented below should be read together with the
historical consolidated financial statements of GameStop and EB,
including the related notes, filed by each of them with the SEC
and together with the consolidated historical financial data for
GameStop and EB and the other unaudited pro forma financial
information, including the related notes, appearing elsewhere in
this joint proxy statement-prospectus. See &#147;Where You Can
Find More Information&#148; beginning on page&nbsp;162 and
&#147;GSC Holdings Corp. Unaudited Pro Forma Condensed
Consolidated Financial Data&#148; beginning on page&nbsp;134.
The unaudited pro forma financial data is not necessarily
indicative of results that actually would have occurred had the
mergers been completed on the dates indicated or that may be
obtained in the future. See also &#147;Risk Factors&#148;
beginning on page&nbsp;18 and &#147;Information Regarding
Forward-Looking Statements&#148; beginning on page&nbsp;22.
</DIV>



<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; margin-top: 6pt; ">

<TR style="font-size: 1pt;">
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="56%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>For Fiscal</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>For Fiscal Year</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Quarter</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Ended</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Ended</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>January&nbsp;29, 2005</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>April&nbsp;30, 2005</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>


<TR style="font-size: 8pt;">
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap><B>(In thousands, except</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap><B>per share data)</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap><B>(Unaudited)</B></TD><TD></TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="3" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Operating Results</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Revenues</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>3,832,188</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>981,812</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Net earnings</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>55,203</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(1,399</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Per Share Data</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Net earnings per Class&nbsp;A and Class&nbsp;B common
    share&nbsp;&#151; basic(1)</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0.75</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(0.02</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Net earnings per Class&nbsp;A and Class&nbsp;B common
    share&nbsp;&#151; diluted(1)</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0.71</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(0.02</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
</TR>

</TABLE>
</CENTER>



<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; ">

<TR style="font-size: 1pt;">
    <TD width="3%">&nbsp;</TD>
    <TD width="59%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>As of</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>April&nbsp;30, 2005</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>


<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Financial Position</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Merchandise inventories, net</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>584,772</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Total assets</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>2,679,556</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Note payable, current portion</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>12,173</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Notes payable, long-term portion</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>974,347</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Total debt</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>986,520</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>
</CENTER>


<DIV align="left" style="font-size: 3pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<DIV style="width: 18%; border-top: 1.0pt solid black; font-size: 1pt">&nbsp;</DIV>
</DIV>

<DIV style="margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>


<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>(1)&nbsp;</TD>
    <TD align="left">
    The holders of Holdco Class&nbsp;A and Class&nbsp;B common stock
    generally have identical rights, except that the holders of
    Holdco Class&nbsp;A common stock are entitled to one vote per
    share and the holders of Holdco Class&nbsp;B common stock are
    entitled to ten votes per share on all matters to be voted on by
    stockholders. Earnings per common share amounts represent per
    share amounts for both classes of common stock.</TD>
</TR>

</TABLE>


<P align="center" style="font-size: 10pt;">15

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV align="left" style="font-size: 10pt;">
<A name='134'></A>
</DIV>

<!-- link1 "COMPARATIVE PER SHARE DATA (Unaudited)" -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>COMPARATIVE PER SHARE DATA</B>
</DIV>

<DIV align="center" style="font-size: 10pt;">
<B>(Unaudited)</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The following table sets forth certain historical per share data
for GameStop and EB and combined per share data on an unaudited
pro forma condensed consolidated basis. You should read the
information below together with the financial statements and
related notes of GameStop and EB that are incorporated by
reference in this joint proxy statement-prospectus and with the
unaudited pro forma condensed consolidated financial data
included under &#147;GSC Holdings Corp. Unaudited Pro Forma
Condensed Consolidated Financial Data&#148; beginning on
page&nbsp;134.
</DIV>



<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; margin-top: 6pt; ">

<TR style="font-size: 1pt;">
    <TD width="61%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Fiscal Quarter</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Fiscal Year Ended</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Ended</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD align="left" nowrap><B>GameStop Historical Comparative per Share Data</B></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>January&nbsp;29, 2005</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>April&nbsp;30, 2005</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Net earnings per Class&nbsp;A and Class&nbsp;B common
    share&nbsp;&#151; basic(1)</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>1.11</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>0.20</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Net earnings per Class&nbsp;A and Class&nbsp;B common
    share&nbsp;&#151; diluted(1)</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>1.05</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>0.19</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Cash dividends per common share</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Book value per common share</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>10.68</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>10.96</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>
</CENTER>


<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; margin-top: 6pt; ">

<TR style="font-size: 1pt;">
    <TD width="61%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Fiscal Quarter</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Fiscal Year Ended</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Ended</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD align="left" nowrap><B>EB Historical Comparative per Share Data</B></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>January&nbsp;29, 2005</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>April&nbsp;30, 2005</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Net earnings per common share&nbsp;&#151; basic</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>2.16</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>0.11</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Net earnings per common share&nbsp;&#151; diluted</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>2.13</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>0.11</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Cash dividends per common share</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Book value per common share</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>14.26</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>14.42</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>
</CENTER>


<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; margin-top: 6pt; ">

<TR style="font-size: 1pt;">
    <TD width="65%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Fiscal Quarter</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Fiscal Year Ended</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Ended</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD align="left" nowrap><B>Unaudited Pro Forma Condensed Consolidated Comparative per Share Data</B></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>January&nbsp;29, 2005</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>April&nbsp;30, 2005</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Net earnings per Class&nbsp;A and Class&nbsp;B common
    share&nbsp;&#151; basic(2)</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>0.75</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>(0.02</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Net earnings per Class&nbsp;A and Class&nbsp;B common
    share&nbsp;&#151; diluted(2)</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>0.71</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>(0.02</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Cash dividends per common share</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Book value per common share</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>13.70</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>13.83</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>
</CENTER>


<DIV align="left" style="font-size: 3pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<DIV style="width: 18%; border-top: 1.0pt solid black; font-size: 1pt">&nbsp;</DIV>
</DIV>

<DIV style="margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>


<TR valign="top">
    <TD>(1)&nbsp;</TD>
    <TD align="left">
    The holders of GameStop Class&nbsp;A and Class&nbsp;B common
    stock generally have identical rights, except that the holders
    of GameStop Class&nbsp;A common stock are entitled to one vote
    per share and the holders of GameStop Class&nbsp;B common stock
    are entitled to ten votes per share on all matters to be voted
    on by stockholders. Earnings per common share amounts represent
    per share amounts for both classes of common stock.</TD>
</TR>


<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>


<TR valign="top">
    <TD>(2)&nbsp;</TD>
    <TD align="left">
    The holders of Holdco Class&nbsp;A and Class&nbsp;B common stock
    generally have identical rights, except that the holders of
    Holdco Class&nbsp;A common stock are entitled to one vote per
    share and the holders of Holdco Class&nbsp;B common stock are
    entitled to ten votes per share on all matters to be voted on by
    stockholders. Earnings per common share amounts represent per
    share amounts for both classes of common stock.</TD>
</TR>


</TABLE>

<P align="center" style="font-size: 10pt;">16

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>RECENT DEVELOPMENTS</B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>GameStop Unaudited Results for Second Quarter of GameStop
Fiscal 2005</B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
On August&nbsp;18, 2005, GameStop announced its financial
results for the second quarter of GameStop fiscal 2005. GameStop
reported net earnings for the second quarter of
$7.9&nbsp;million, compared with net earnings of
$7.7&nbsp;million in the prior year quarter. Diluted earnings
per Class&nbsp;A and Class&nbsp;B common share increased 7.7%,
to $0.14&nbsp;per diluted share, as compared to $0.13&nbsp;per
diluted share in the prior year quarter. GameStop sales
increased 20.3% to $415.9&nbsp;million in the second quarter of
2005, compared with $345.6&nbsp;million in the prior year
quarter. Comparable store sales increased 6.2% during the second
quarter of GameStop fiscal 2005.
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>EB Unaudited Results for Second Quarter of EB Fiscal 2006</B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
On August&nbsp;29, 2005, EB announced its financial results for
the second quarter of EB fiscal 2006. EB&nbsp;reported net
earnings of $1.6&nbsp;million, compared with net earnings of
$3.9&nbsp;million in the prior year quarter. Diluted earnings
per share for the second quarter of EB fiscal 2006 totalled
$0.06&nbsp;per share, as compared to $0.16 per diluted share in
the prior year quarter. EB&#146;s total revenue increased 23.9%
to $448.3&nbsp;million in the second quarter of EB fiscal 2006,
compared with total revenue of $361.9&nbsp;million in the prior
year quarter. Comparable store sales increased 2.6% during the
second quarter of EB fiscal 2006.
</DIV>


<P align="center" style="font-size: 10pt;">17
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<B>RISK FACTORS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>In addition to the other information contained in or
incorporated by reference into this joint proxy
statement-prospectus, including the matters addressed under the
caption &#147;Information Regarding Forward-Looking
Statements&#148; on page&nbsp;22, you should carefully consider
the following risk factors in deciding whether to vote for
adoption of the merger proposal. Additional risk factors
regarding GameStop and EB can be found in the Annual Reports on
Forms&nbsp;10-K (as amended) for the fiscal year ended
January&nbsp;29, 2005 of GameStop and EB filed with the SEC and
available at the SEC&#146;s Internet site
(http://www.sec.gov).</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><I>Because the exchange ratios are fixed, the market value of
Holdco common stock issued to you may be less than the value of
your shares of GameStop common stock or EB common stock.</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
GameStop stockholders and EB stockholders who receive shares in
the mergers will receive a fixed number of shares of common
stock of Holdco rather than a number of shares with a particular
fixed market value. The market values of GameStop and EB common
stock at the time of the mergers may vary significantly from
their prices on the date the merger agreement was executed, the
date of this joint proxy statement-prospectus or the date on
which GameStop and EB stockholders vote on the mergers. Because
the exchange ratio will not be adjusted to reflect any changes
in the market value of GameStop or EB common stock, the market
value of the Holdco common stock issued in the mergers and the
GameStop and EB common stock surrendered in the mergers may be
higher or lower than the values of such shares on such earlier
dates. Stock price changes may result from a variety of factors
that are beyond the control of GameStop and EB, including
changes in their businesses, operations and prospects,
regulatory considerations and general and industry specific
market and economic conditions. Neither GameStop nor EB is
permitted to terminate the merger agreement solely because of
changes in the market price of either party&#146;s common stock.
</DIV>

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<B><I>Holdco&#146;s significant indebtedness following the
mergers could adversely impact cash availability for growth and
operations and may increase vulnerability to general adverse
economic and industry conditions.</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
GameStop&#146;s indebtedness for borrowed money as of
August&nbsp;30, 2005 was approximately $37.0&nbsp;million.
EB&#146;s indebtedness for borrowed money as of August&nbsp;30,
2005 was approximately $9.5&nbsp;million. Holdco&#146;s pro
forma total indebtedness, after giving effect to the mergers, is
expected to be approximately $996.5&nbsp;million. Holdco&#146;s
debt service obligations with respect to this increased
indebtedness could have an adverse impact on its earnings and
cash flows for as long as the indebtedness is outstanding.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Holdco&#146;s increased indebtedness could have important
consequences to holders of its common stock. For example, it
could:
</DIV>

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    make it more difficult for Holdco to pay its debts as they
    become due during general adverse economic and market industry
    conditions because any related decrease in revenues could cause
    Holdco&#146;s cash flows from operations to decrease and make it
    difficult for Holdco to make its scheduled debt payments;</TD>
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    limit Holdco&#146;s flexibility in planning for, or reacting to,
    changes in its business and the industry in which it operates
    and, consequently, place Holdco at a competitive disadvantage to
    its competitors with less debt;</TD>
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    require a substantial portion of Holdco&#146;s cash flow from
    operations to be used for debt service payments, thereby
    reducing the availability of its cash flow to fund working
    capital, capital expenditures, acquisitions and other general
    corporate purposes; and</TD>
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    result in higher interest expense in the event of increases in
    interest rates since some of Holdco&#146;s borrowings are, and
    will continue to be, at variable rates of interest.</TD>
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Additionally, if the rating of Holdco&#146;s indebtedness is
downgraded, Holdco&#146;s ability to borrow additional funds
could be limited or the interest rates applicable to
Holdco&#146;s indebtedness could increase.
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
There can be no assurance that Holdco will be able to make all
of the principal and interest payments when such payments are
due under Holdco&#146;s proposed credit facilities, the
indenture governing the proposed Holdco notes and/or the
proposed bridge facility. For more information see &#147;The
Mergers&nbsp;&#151; Financing.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 9pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><I>The failure to successfully integrate GameStop&#146;s and
EB&#146;s businesses and operations in the expected timeframe
may adversely affect Holdco&#146;s future results.</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
GameStop and EB have operated and, until the completion of the
mergers, will continue to operate independently. Holdco will
face significant challenges in consolidating GameStop and EB
functions, integrating their organizations, procedures and
operations in a timely and efficient manner and retaining key
GameStop and EB personnel. The integration of GameStop and EB
will be costly, complex and time consuming, and management of
Holdco will have to devote substantial resources and efforts to
it.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The integration process and other disruptions from the mergers
could result in the disruption of each company&#146;s ongoing
business or inconsistencies in standards, controls, procedures
and policies that adversely affect their ability to maintain
relationships with customers, suppliers, employees and others
with whom they have business dealings or to achieve the
anticipated benefits of the mergers.
</DIV>

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<B><I>We may fail to realize the anticipated synergies, cost
savings and other benefits expected from the mergers.</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The success of the mergers will depend, in part, on our ability
to realize the anticipated growth opportunities and cost savings
from combining the businesses of GameStop and EB. Management of
GameStop and EB have estimated that the combined company will
realize approximately $30&nbsp;million in cost savings and
operating synergies by the end of the fiscal year ending
February&nbsp;3, 2007 and $50&nbsp;million annually thereafter
by capitalizing on consolidation and integration of certain
functions as well as through the adoption by Holdco of the best
practices of both GameStop and EB. However, to realize the
anticipated benefits from the mergers, we must successfully
combine the businesses of GameStop and EB in a manner that
permits those cost savings synergies to be realized. In
addition, we must achieve these savings without adversely
affecting our revenues. If we are not able to successfully
achieve these objectives, the anticipated benefits of the
mergers may not be realized fully or at all or may take longer
to realize than expected.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 9pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><I>The merger agreement limits GameStop&#146;s and EB&#146;s
ability to pursue alternatives to the mergers.</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The merger agreement contains &#147;no shop&#148; provisions
that, subject to limited exceptions, limit GameStop&#146;s and
EB&#146;s ability to discuss, facilitate or commit to competing
third-party proposals to acquire all or a significant part of
either GameStop or EB. In addition, GameStop and EB have agreed
that if the merger agreement is terminated under certain
circumstances, GameStop or EB will pay the other a termination
fee of $40&nbsp;million. These provisions might discourage a
potential competing acquiror that might have an interest in
acquiring all or a significant part of GameStop or EB from
considering or proposing an acquisition even if it were prepared
to pay consideration with a higher per share price than that
proposed in the mergers, or might result in a potential
competing acquiror proposing to pay a lower per share price to
acquire GameStop or EB than it might otherwise have proposed to
pay.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><I>The mergers are subject to certain closing conditions
that, if not satisfied or waived, will result in the mergers not
being completed, which may cause the market price of GameStop
common stock or EB common stock to decline.</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The mergers are subject to customary conditions to closing,
including the receipt of required approvals of the stockholders
of GameStop and EB. If any condition to the mergers is not
satisfied or, if permissible, waived, the mergers will not be
completed. In addition, GameStop and EB may terminate the merger
agreement in certain circumstances. If GameStop and EB do not
complete the mergers, the market price of GameStop common stock
or EB common stock may fluctuate to the extent that the current
market prices of those shares reflect a market assumption that
the mergers will be completed. GameStop and EB will also be
obligated to pay certain investment banking, financing, legal
and accounting fees and related expenses in connection with the
mergers, whether or not the mergers are completed. In addition,
</DIV>

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<DIV align="left" style="font-size: 10pt;">
GameStop and EB have each diverted significant management
resources in an effort to complete the mergers and are each
subject to restrictions contained in the merger agreement on the
conduct of its business. If the mergers are not completed,
GameStop and EB will each have incurred significant costs,
including the diversion of management resources, for which it
will have received little or no benefit. Further, in specified
circumstances, GameStop and EB may be required to pay to the
other a termination fee of $40&nbsp;million if the merger
agreement is terminated. For a detailed description of the
circumstances in which such termination fee will be paid, see
&#147;The Mergers&nbsp;&#151; The Merger Agreement&nbsp;&#151;
Termination&#148; on page&nbsp;89 and
&#147;&#151;&nbsp;Termination Fees&#148; on page&nbsp;89.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><I>Directors of GameStop and EB may have potential conflicts
of interest in recommending that you vote in favor of the
adoption of the merger agreement.</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
A number of directors of GameStop and a number of directors of
EB who recommend that you vote in favor of the adoption of the
merger agreement have employment or severance agreements, equity
compensation and other benefit arrangements or other interests
that provide them with interests in the mergers that differ from
yours. In addition, certain directors of EB will continue as
directors of Holdco while other directors will not, and in
either case, Holdco will indemnify and provide insurance for
their services as directors of GameStop and EB prior to the
mergers. Leonard Riggio, a GameStop director, is a significant
beneficial stockholder of GameStop and EB&#146;s Chairman, James
J. Kim, is a significant beneficial stockholder of EB. You
should be aware of these interests when you consider your board
of directors&#146; recommendation that you vote in favor of the
mergers.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><I>Holdco does not expect to pay dividends for the
foreseeable future, and you must rely on increases in the
trading prices of Holdco stock for returns on your
investment.</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Holdco does not expect to pay dividends in the foreseeable
future. Former GameStop and EB stockholders who become
stockholders of Holdco must rely on increases, if any, in the
trading price of Holdco common stock for any return on their
investment.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><I>The former EB stockholders will have limited voting rights
in the combined company.</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The shares of Holdco Class&nbsp;A common stock that the current
stockholders of EB will receive in connection with the EB merger
will be entitled to one vote per share whereas the shares of
Holdco Class&nbsp;B common stock that will be outstanding
following the mergers will be entitled to ten votes per share.
Accordingly, although the former stockholders of EB will own
approximately 27.9% of the outstanding common stock of Holdco
upon the closing of the mergers, their shares of stock will only
represent approximately 5.9% of the combined voting power of
Holdco.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><I>The loss of key personnel may adversely affect
Holdco.</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Following the mergers, Holdco will be dependent upon the
contributions of its senior management team, including R.
Richard Fontaine and Daniel A. DeMatteo, and other key employees
for its future success. While Mr.&nbsp;Fontaine and
Mr.&nbsp;DeMatteo have employment agreements with GameStop, if
any of these executives or other key employees, were to cease to
be employed by Holdco, including as a result of the integration
of GameStop and EB following the mergers, Holdco could be
adversely affected.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><I>Former EB stockholders who become stockholders of Holdco
will be governed by the amended and restated certificate of
incorporation and amended and restated bylaws of Holdco.</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
EB stockholders who receive Holdco common stock in the mergers
will become Holdco stockholders and their rights as stockholders
will be governed by the amended and restated certificate of
incorporation and amended and restated bylaws of Holdco and
Delaware corporate law. As a result, there will be material
differences between the current rights of EB stockholders and
the rights they can expect to have as Holdco stockholders.
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
For example, among other differences, EB&#146;s certificate of
incorporation does not provide for a staggered board of
directors but Holdco&#146;s certificate of incorporation does,
and thus an acquisition or change in control of Holdco by a
third party that the board, in its judgment, might not have
favored may be more difficult to effect.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><I>Former GameStop stockholders who become stockholders of
Holdco will be governed by the amended and restated certificate
of incorporation and amended and restated bylaws of
Holdco.</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
GameStop stockholders who receive Holdco common stock in the
mergers will become Holdco stockholders and their rights as
stockholders will be governed by the amended and restated
certificate of incorporation and amended and restated bylaws of
Holdco and Delaware corporate law. As a result, there will be
material differences between the current rights of GameStop
stockholders and the rights they can expect to have as Holdco
stockholders.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
For example, among other differences, GameStop&#146;s
certificate of incorporation (without taking into effect the
amendment to be voted upon in connection with this joint proxy
statement-prospectus) provides that in connection with a merger,
consolidation, etc. the holders of GameStop Class&nbsp;A common
stock and GameStop Class&nbsp;B common stock will receive the
same consideration. Holdco&#146;s amended and restated
certificate of incorporation provides that the holders of Holdco
Class&nbsp;A common stock and Holdco Class&nbsp;B common stock
will receive the same consideration, provided that the holders
of Holdco Class&nbsp;B common stock may receive securities that
differ on a per share basis as to voting rights and powers (but
not more than ten to one) than those of the holders of Holdco
Class&nbsp;A common stock.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><I>&#147;Market overhang&#148; could depress the market price
of Holdco common stock.</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Upon the effectiveness of the registration statement required to
be filed with the SEC under the registration rights agreement
with the Kim Group, 9.1&nbsp;million shares of Holdco
Class&nbsp;A common stock will be available to be sold
immediately into the public market. That &#147;market
overhang,&#148; as well as any sales of such shares, could
depress the market price of the Holdco common stock.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><I>The combined company may be required to make severance
payments to EB&#146;s senior officers in connection with the
mergers.</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Certain senior officers of EB have the right to terminate their
employment with EB following the mergers. If these EB senior
officers elect to so terminate their employment, EB will be
required to make severance payments in an amount equal to their
current total compensation for a period equal to the greater of
(i)&nbsp;the balance of their employment term under their
employment agreements and (ii)&nbsp;twelve months, and to
continue to provide them with their current benefits during such
period. If all of the EB senior officers who have the right to
these severance payments elect to terminate their employment
following the closing of the mergers, EB will have to make
aggregate severance payments estimated to be up to approximately
$4.4&nbsp;million to these senior officers.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><I>GameStop and EB may be in default under certain of their
store leases upon the closing of the mergers.</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Certain of the store leases for GameStop and EB contain
provisions that require the consent of the landlord before the
tenant can complete a transaction such as the mergers or take
other actions that may be required following the closing of the
mergers. GameStop and EB may be in default under these store
leases upon the closing of the mergers. If the landlords under
these leases attempt to exercise any remedies available to them
following the closing of the mergers, the business, financial
condition and results of operations of the combined company may
be adversely affected.
</DIV>

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<A name='136'></A>
</DIV>

<!-- link1 "INFORMATION REGARDING FORWARD-LOOKING STATEMENTS" -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>INFORMATION REGARDING FORWARD-LOOKING STATEMENTS</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
This joint proxy statement-prospectus contains
&#147;forward-looking statements&#148; within the meaning of the
Private Securities Litigation Reform Act of 1995. These
statements may be made directly in this joint proxy
statement-prospectus or they may be made a part of this joint
proxy statement-prospectus by appearing in other documents filed
with the SEC by GameStop, EB and Holdco and incorporated by
reference in this joint proxy statement-prospectus. These
statements may include statements regarding the period following
completion of the mergers.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Words such as &#147;anticipate,&#148; &#147;estimate,&#148;
&#147;expect,&#148; &#147;project,&#148; &#147;intend,&#148;
&#147;plan,&#148; &#147;believe,&#148; &#147;target,&#148;
&#147;objective,&#148; &#147;goal,&#148; &#147;should&#148; and
words and terms of similar substance used in connection with any
discussion of future operating or financial performance of
GameStop, EB or Holdco or of the mergers identify
forward-looking statements. All forward-looking statements are
management&#146;s present expectations or forecasts of future
events and are subject to a number of factors and uncertainties
that could cause actual results to differ materially from those
described in the forward-looking statements. In addition to the
factors relating to the mergers discussed under the caption
&#147;Risk Factors&#148; beginning on page&nbsp;18 above, the
following factors, among others, could cause actual results to
differ from those set forth in the forward-looking statements:
</DIV>


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    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>


<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the failure of GameStop and EB stockholders to approve the
    transaction; the risk that the businesses will not be integrated
    successfully;</TD>
</TR>


<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the risk that the cost savings and any other synergies from the
    transaction may not be fully realized or may take longer to
    realize than expected;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    disruption from the transaction making it more difficult to
    maintain relationships with customers, employees or
    suppliers;&nbsp;and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>


<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    competition and its effect on pricing, spending, third-party
    relationships and revenues. Additional factors that could cause
    GameStop&#146;s and EB&#146;s results to differ materially from
    those described in the forward-looking statements can be found
    in the Annual Reports on Forms&nbsp;10-K (as amended) for the
    fiscal year ended January&nbsp;29, 2005 of GameStop and EB filed
    with the SEC and available at the SEC&#146;s Internet site at
    http://www.sec.gov.</TD>
</TR>


</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
We caution you not to place undue reliance on the
forward-looking statements, which speak only as of the date of
this joint proxy statement-prospectus in the case of
forward-looking statements contained in this joint proxy
statement-prospectus, or the dates of the documents incorporated
by reference in this joint proxy statement-prospectus in the
case of forward-looking statements made in those incorporated
documents. Except as may be required by law, none of GameStop,
EB or Holdco has any obligation to update or alter these
forward-looking statements, whether as a result of new
information, future events or otherwise.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
We expressly qualify in their entirety all forward-looking
statements attributable to GameStop, EB or Holdco or any person
acting on our behalf by the cautionary statements contained or
referred to in this section.
</DIV>

<P align="center" style="font-size: 10pt;">22

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<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV align="left" style="font-size: 10pt;">
<A name='137'></A>
</DIV>

<!-- link1 "THE GAMESTOP ANNUAL MEETING" -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>THE GAMESTOP ANNUAL MEETING</B>
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='138'></A>
</DIV>

<!-- link1 "Joint Proxy Statement-Prospectus" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Joint Proxy Statement-Prospectus</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
This joint proxy statement-prospectus is being furnished to you
in connection with the solicitation of proxies by the GameStop
board of directors in connection with GameStop&#146;s annual
meeting of stockholders.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
This joint proxy statement-prospectus is first being furnished
to GameStop stockholders on or about September&nbsp;7, 2005.
</DIV>


<DIV align="left" style="font-size: 10pt;">
<A name='139'></A>
</DIV>

<!-- link1 "Date, Time and Place of the GameStop Annual Meeting" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Date, Time and Place of the GameStop Annual Meeting</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The GameStop annual meeting is scheduled to be held as follows:
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
Thursday, October&nbsp;6, 2005
</DIV>



<DIV align="center" style="font-size: 10pt;">
Wyndham Anatole Hotel
</DIV>



<DIV align="center" style="font-size: 10pt;">
2201 Stemmons Freeway
</DIV>



<DIV align="center" style="font-size: 10pt;">
Dallas, Texas
</DIV>



<DIV align="center" style="font-size: 10pt;">
12:00 p.m., local time
</DIV>


<DIV align="left" style="font-size: 10pt;">
<A name='140'></A>
</DIV>

<!-- link1 "Purpose of the GameStop Annual Meeting" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Purpose of the GameStop Annual Meeting</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
At the GameStop annual meeting, GameStop&#146;s stockholders
will be asked:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    1.&nbsp;To consider and vote on a proposal to (i)&nbsp;adopt the
    Agreement and Plan of Merger, dated as of April&nbsp;17, 2005,
    by and among GameStop, GameStop, Inc., GSC Holdings Corp., Eagle
    Subsidiary LLC, Cowboy Subsidiary LLC and EB, including the
    transactions contemplated thereby, including the GameStop
    merger, pursuant to which, among other things, separate
    subsidiaries of Holdco will be merged with and into GameStop and
    EB, (ii)&nbsp;approve the amendment to GameStop&#146;s
    certificate of incorporation to provide for the payment of the
    merger consideration as contemplated by the merger agreement and
    (iii)&nbsp;to approve the amendment to the GameStop Amended and
    Restated 2001 Incentive Plan to provide for the issuance of
    Holdco Class&nbsp;A common stock under the plan. In the proposed
    mergers, EB common stockholders will have the right to receive
    $38.15 in cash and .78795 of a share of Holdco Class&nbsp;A
    common stock for each share of EB common stock that they own. In
    addition, GameStop stockholders will receive one share of Holdco
    Class&nbsp;A common stock for each share of GameStop
    Class&nbsp;A common stock that they own and one share of Holdco
    Class&nbsp;B common stock for each share of GameStop
    Class&nbsp;B common stock that they own. A copy of the merger
    agreement is attached as <U>Annex&nbsp;A</U> to the accompanying
    joint proxy statement-prospectus.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    2.&nbsp;To consider and vote on the adoption of the Holdco 2005
    Incentive Plan.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    3.&nbsp;To elect three members to GameStop&#146;s board of
    directors.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    4.&nbsp;To ratify the appointment of BDO Seidman, LLP as
    GameStop&#146;s registered independent public accounting firm
    for GameStop&#146;s fiscal year ending January&nbsp;28, 2006.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    5.&nbsp;To transact such other business as may properly come
    before the GameStop annual meeting or any adjournment or
    postponement of the GameStop annual meeting.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt;">
<A name='141'></A>
</DIV>

<!-- link1 "Record Date for the GameStop Annual Meeting" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Record Date for the GameStop Annual Meeting</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The board of directors of GameStop has fixed the close of
business on August&nbsp;30, 2005 as the GameStop record date for
determination of GameStop stockholders entitled to notice of and
to vote at the GameStop annual meeting of stockholders.
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
On the GameStop record date, there were 21,949,509&nbsp;shares
of GameStop Class&nbsp;A common stock and 29,901,662&nbsp;shares
of GameStop Class&nbsp;B common stock outstanding and entitled
to vote at the
</DIV>


<P align="center" style="font-size: 10pt;">23
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<DIV align="left" style="font-size: 10pt;">
GameStop annual meeting, held by approximately 31 and
1,410&nbsp;holders of record, respectively. Shares that are held
in GameStop&#146;s treasury are not entitled to vote at the
GameStop annual meeting.
</DIV>


<DIV align="left" style="font-size: 10pt;">
<A name='142'></A>
</DIV>

<!-- link1 "Recommendation of the Board of Directors of GameStop" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Recommendation of the Board of Directors of GameStop</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>As discussed elsewhere in this joint proxy
statement-prospectus, GameStop&#146;s board of directors has
approved the merger agreement and the transactions contemplated
thereby, including the GameStop merger, and has determined that
the transactions contemplated by the merger agreement are
advisable and fair to and in the best interests of GameStop and
its stockholders. The GameStop board of directors recommends
that GameStop stockholders vote:</B>
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    FOR the proposal to adopt the merger agreement and the
    transactions contemplated thereby, including the GameStop
    merger, the amendment to GameStop&#146;s certificate of
    incorporation to provide for the payment of the GameStop merger
    consideration as contemplated by the merger agreement and the
    amendment to the GameStop Amended and Restated 2001 Incentive
    Plan to provide for the issuance of Holdco Class&nbsp;A common
    stock under the plan;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    FOR the adoption of the Holdco 2005 Incentive Plan;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    FOR the election of the GameStop nominees for directors named in
    this joint proxy statement-prospectus;&nbsp;and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    FOR the ratification of BDO Seidman, LLP as GameStop&#146;s
    registered independent public accounting firm for
    GameStop&#146;s fiscal year ending January&nbsp;28, 2006.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt;">
<A name='143'></A>
</DIV>

<!-- link1 "GAMESTOP PROPOSAL 1 -- THE MERGERS" -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>GAMESTOP PROPOSAL&nbsp;1&nbsp;&#151; THE MERGERS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
As discussed elsewhere in this joint proxy statement-prospectus,
GameStop stockholders are considering and voting on a proposal
to adopt the merger agreement and the transactions contemplated
thereby, including the GameStop merger, an amendment to
GameStop&#146;s certificate of incorporation to provide for the
payment of the GameStop merger consideration as contemplated by
the merger agreement and the amendment to the GameStop Amended
and Restated 2001 Incentive Plan to provide for the issuance of
Holdco Class&nbsp;A common stock under the plan. You should
carefully read this entire joint proxy statement-prospectus,
including the full text of the merger agreement, which is
attached as <U>Annex&nbsp;A</U>, and the other documents we
refer you to for a more complete understanding of the mergers.
In addition, we incorporate important business and financial
information about each of GameStop and EB into this joint proxy
statement-prospectus by reference. You may obtain the
information incorporated by reference into this joint proxy
statement-prospectus without charge by following the
instructions in the section entitled &#147;Where You Can Find
More Information&#148; which begins on page&nbsp;162.
</DIV>


<DIV align="left" style="font-size: 10pt;">
<A name='144'></A>
</DIV>

<!-- link1 "Effect of the GameStop Merger; What You Will Receive in the GameStop Merger" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Effect of the GameStop Merger; What You Will Receive in the
GameStop Merger</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Upon completion of the GameStop merger, Cowboy Subsidiary LLC, a
wholly-owned subsidiary of Holdco newly organized to effect the
GameStop merger, will merge with and into GameStop. GameStop
will be the surviving corporation in the GameStop merger and
will thereby become a wholly-owned subsidiary of Holdco.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In the GameStop merger, each outstanding share of GameStop
Class&nbsp;A common stock (other than shares owned by GameStop,
Cowboy Subsidiary LLC or EB) will be converted into one share of
Holdco Class&nbsp;A common stock and each share of GameStop
Class&nbsp;B common stock (other than shares owned by GameStop,
Cowboy Subsidiary LLC or EB) will be converted into one share of
Holdco Class&nbsp;B common stock. The exchange ratio is fixed
and will not be adjusted to reflect stock price changes prior to
the date of the GameStop merger. Each share of GameStop common
stock owned by GameStop, Cowboy Subsidiary LLC or EB will be
cancelled without consideration.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
All outstanding GameStop stock options will be converted into
options to purchase the same number of shares of Holdco
Class&nbsp;A common stock, subject to the same terms and
conditions. Holdco shall
</DIV>

<P align="center" style="font-size: 10pt;">24

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<DIV align="left" style="font-size: 10pt;">
assume the GameStop Amended and Restated 2001 Incentive Plan, as
amended. As of August&nbsp;30, 2005, there were approximately
three million shares remaining available for grant pursuant to
this plan.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In connection with the mergers, Article&nbsp;Fourth (b)(v) of
the amended and restated certificate of incorporation of
GameStop relating to the equal treatment of holders of GameStop
Class&nbsp;A common stock and GameStop Class&nbsp;B common stock
in mergers, consolidations, etc., will be amended, subject to
GameStop stockholder approval, to permit the receipt by holders
of GameStop Class&nbsp;B common stock, in any consolidation,
merger, combination or other transaction in which shares of
GameStop common stock are exchanged for other securities or
property, of securities that differ as to voting rights and
powers on a per share basis from the securities received by
holders of GameStop Class&nbsp;A common stock, provided that
such difference shall not exceed ten to one. This amendment is
necessary to allow for the payment of the GameStop merger
consideration in accordance with the terms of the merger
agreement. This amendment requires the affirmative vote of a
majority of the outstanding shares of GameStop Class&nbsp;A
common stock, voting as a single class, and the affirmative vote
of a majority of the GameStop Class&nbsp;A common stock and
GameStop Class&nbsp;B common stock, voting together as a single
class.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
GameStop stockholders who receive Holdco common stock in the
mergers will become Holdco stockholders and their rights as
stockholders will be governed by the amended and restated
certificate of incorporation and amended and restated bylaws of
Holdco and Delaware corporate law. As a result, there will be
material differences between the current rights of GameStop
stockholders and the rights they can expect to have as Holdco
stockholders. The rights pertaining to Holdco common stock and
Holdco&#146;s amended and restated certificate of incorporation
and amended and restated bylaws are described under
&#147;Description of Holdco Capital Stock&nbsp;&#151; Common
Stock&#148; on page&nbsp;141 and the differences between the
rights of Holdco and GameStop&#146;s stockholders are described
under &#147;Comparison of Stockholder Rights&#148; on
page&nbsp;144.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>The GameStop board of directors recommends you vote&nbsp;FOR
the merger proposal, and your proxy will be so voted unless you
specify otherwise.</B>
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='145'></A>
</DIV>

<!-- link1 "GAMESTOP PROPOSAL 2 -- ADOPTION OF" -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>GAMESTOP PROPOSAL&nbsp;2&nbsp;&#151; ADOPTION OF</B>
</DIV>

<DIV align="center" style="font-size: 10pt;">
<B>HOLDCO 2005 INCENTIVE PLAN</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The board of directors of Holdco has approved, subject to the
approval of GameStop&#146;s stockholders and EB&#146;s
stockholders, the adoption of Holdco&#146;s 2005 Incentive Plan
(the Incentive Plan or the Holdco 2005 Incentive Plan).
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='146'></A>
</DIV>

<!-- link1 "Holdco 2005 Incentive Plan" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Holdco 2005 Incentive Plan</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The following is a summary of the Holdco 2005 Incentive Plan.
This summary is qualified in all respects by reference to the
full text of the Incentive Plan included herein as
<U>Annex&nbsp;K</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>General.</I> The Incentive Plan provides for the grant of
awards to key officers, employees, consultants, advisors and
directors of Holdco, its subsidiaries and affiliates selected
from time to time by the Incentive Plan Committee. The purpose
of the Incentive Plan is to assist Holdco in attracting and
retaining selected individuals to serve as directors, officers,
consultants, advisors and employees who will contribute to its
success and to achieve long-term objectives which will inure to
the benefit of all its stockholders through the additional
incentive inherent in the ownership of Holdco Class&nbsp;A
common stock. Awards under the Incentive Plan may take the form
of stock options, including corresponding share appreciation
rights (SARs), restricted stock awards and other share-based
awards.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Options available and outstanding.</I> If approved, the
maximum number of shares that may be the subject of awards under
the Incentive Plan would be 5,000,000&nbsp;shares of Holdco
Class&nbsp;A common stock. This is in addition to the
approximately 3,000,000&nbsp;shares of Holdco Class&nbsp;A
common stock that may be issued under the GameStop Amended and
Restated 2001 Incentive Plan, as described in &#147;The
Mergers&nbsp;&#151; Amendment to GameStop Amended and Restated
2001 Incentive Plan&#148; on page&nbsp;97. Shares are counted
against the maximum number of authorized shares only to the
extent they are actually issued. Thus, shares
</DIV>


<P align="center" style="font-size: 10pt;">25

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<DIV align="left" style="font-size: 10pt;">
which terminate by expiration, forfeiture, cancellation, or
otherwise, are settled in cash in lieu of shares, or exchanged
for awards not involving shares, shall again be available for
grant. Also, if the option price or tax withholding requirements
of any award is satisfied by tendering shares to Holdco, or if a
SAR is exercised, only the number of shares issued, net of the
shares tendered, will be deemed issued under the Incentive Plan.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Incentive Plan also imposes annual per-participant award
limits. In any given year, the maximum number of shares with
respect to which options or SARs may be granted to any employee
is 1,000,000&nbsp;shares, the maximum number of restricted share
awards or other share-based awards that may be granted to any
participant is 1,000,000&nbsp;shares, and the maximum aggregate
amount awarded or credited with respect to cash-based awards to
any one participant may not exceed $5,000,000.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Incentive Plan Administration.</I> The Holdco Compensation
Committee (the Committee) will administer the Incentive Plan.
Subject to the provisions of the Incentive Plan, the Committee
has authority, in its sole discretion, to grant awards under the
Incentive Plan, to interpret the provisions of the Incentive
Plan and, subject to the requirements of applicable law, to
prescribe, amend, and rescind rules and regulations relating to
the Incentive Plan or any award thereunder as it may deem
necessary or advisable. The Committee may alter, amend, suspend
or terminate the Incentive Plan as it deems advisable, subject
to any requirement for stockholder approval imposed by
applicable law, including Sections&nbsp;162(m) and 422 of the
Code, or any rule of any stock exchange or quotation system on
which shares are listed or quoted; provided that the Committee
may not amend the Incentive Plan, without the approval of
Holdco&#146;s stockholders, to increase the number of shares
that may be the subject of options under the Incentive Plan. In
addition, except to the extent necessary to avoid the imposition
of additional tax or interest under Section&nbsp;409A of the
Code, no amendment to, or termination of, the Incentive Plan
shall in any way impair the rights of an optionee or a
participant under any award previously granted without such
optionee&#146;s or participant&#146;s consent.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Options.</I> The Incentive Plan permits the granting of
&#147;incentive stock options&#148; meeting the requirements of
Section&nbsp;422 of the Code, and &#147;nonqualified stock
options&#148; that do not meet such requirements. The term of
each option is determined by the Committee, but no incentive
stock option may be exercised more than ten years after the date
of grant. Options may also be subject to restrictions on
exercise, such as exercise in periodic installments, as
determined by the Committee. In general, the exercise price for
options must be at least equal to 100% of the fair market value
of the shares on the date of the grant. The exercise price can
be paid in cash, or if approved by the Committee, by tendering
shares owned by the participant, or any combination of the
foregoing. Awards are not transferable except by will or the
laws of descent and distribution and may generally be exercised
only by the participant (or his or her guardian or legal
representative) during his or her lifetime, provided, however,
nonqualified stock options may, under certain circumstances, be
transferable to family members and trusts for the benefit of the
participant or his or her family members.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Share Appreciation Rights.</I> The Incentive Plan provides
that the Committee may grant SARs in connection with the grant
of options. Each SAR must be associated with a specific option
and must be granted at the time of grant of such option. A SAR
is exercisable only to the extent the related option is
exercisable. Upon the exercise of a SAR, the recipient is
entitled to receive from Holdco up to, but no more than, an
amount in shares equal to the excess of (i)&nbsp;the fair market
value of one share on the date of such exercise over
(ii)&nbsp;the exercise price of any related option, multiplied
by the number of shares in respect of which such SAR shall have
been exercised. Upon the exercise of a SAR, the related option,
or the portion thereof in respect of which such SAR is
exercised, will terminate. Upon the exercise of an option
granted in tandem with a SAR, such tandem SAR will terminate.
SARs may be granted only if Holdco shares are traded on an
established securities market at the date of grant.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Restricted Stock.</I> The Committee may award restricted
shares under the Incentive Plan. Restricted shares give a
participant the right to receive shares subject to a risk of
forfeiture based upon certain conditions. The forfeiture
restrictions on the shares may be based upon performance
standards, length of service or other criteria as the Committee
may determine. Until all restrictions are satisfied, lapsed or
</DIV>

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<DIV align="left" style="font-size: 10pt;">
waived, we will maintain custody over the restricted shares but
the participant will be able to vote the shares and will be
entitled to all distributions paid with respect to the shares,
as provided by the Committee. During such restrictive period,
the restricted shares may not be sold, assigned, transferred,
pledged or otherwise encumbered. Upon termination of employment,
the participant forfeits the right to the shares to the extent
the applicable performance standards, length of service
requirements, or other measurement criteria have not been met.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Antidilution Provisions.</I> In general, the Committee may
adjust the number of shares authorized to be issued under the
Incentive Plan and subject to outstanding awards (and the grant
or exercise price thereof) to prevent dilution or enlargement of
rights in the event of any dividend or other distribution,
recapitalization, stock split, reverse stock split,
reorganization, merger, consolidation, split-up, spin-off,
combination, repurchase or exchange of shares or other
securities, the issuance of warrants or other rights to purchase
shares or other securities, or other similar capitalization
change.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Termination and Amendment.</I> The Incentive Plan will
terminate by its terms and without any action by the board of
directors in 2015. No awards may be made after that date. Awards
outstanding on such termination date will remain valid in
accordance with their terms. In general, the Committee may amend
the Incentive Plan as it shall deem advisable, except that it
may not amend the Incentive Plan to increase the number of
shares authorized for issuance under the Incentive Plan without
the consent of Holdco stockholders and it may not alter
outstanding awards without a participant&#146;s consent unless
necessary to avoid imposition of additional tax or interest
under Code Section&nbsp;409A.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Treatment of Awards Upon a Change of Control and Related
Transactions.</I> One or more awards may be subject to the terms
and conditions set forth in a written agreement between Holdco
and a participant providing for different terms or provisions
with respect to such awards upon a &#147;change of control&#148;
of Holdco (as that term may be defined in such written
agreement), <U>provided</U>, that such written agreement may not
increase the maximum amount of such awards.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Awards for Non-U.S.&nbsp;Employees.</I> To comply with the
laws in other countries in which Holdco or its affiliates or
subsidiaries operate or may operate or have employees, officers,
directors, or third-party service providers, the Committee may
establish, among other things, subplans under the Incentive Plan
and modify the terms of the awards made to such employees,
officers, directors or third-party service providers.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Certain Federal Income Tax Consequences of The Incentive
Plan.</I> The following is a brief summary of the principal
federal income tax consequences of awards under the Incentive
Plan. The summary is based upon current federal income tax laws
and interpretations thereof, all of which are subject to change
at any time, possibly with retroactive effect. The summary is
not intended to be exhaustive and, among other things, does not
describe state, local or foreign tax consequences.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
A participant is not subject to federal income tax either at the
time of grant or at the time of exercise of an incentive stock
option. However, upon exercise, the difference between the fair
market value of the shares and the exercise price is an item of
tax preference subject to the possible application of the
alternative minimum tax. If a participant does not dispose of
shares acquired through the exercise of an incentive stock
option in a &#147;disqualifying disposition&#148; (i.e., no
disposition occurs within two years from the date of grant of
the incentive stock option nor within one year of the transfer
of the shares to the participant), then the participant will be
taxed only upon the gain, if any, from the sale of such shares,
and such gain will be taxable as gain from the sale of a capital
asset.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Holdco will not receive any tax deduction on the exercise of an
incentive stock option or, if the above holding period
requirements are met, on the sale of the underlying shares. If
there is a disqualifying disposition (i.e., one of the holding
period requirements is not met), the participant will be treated
as receiving compensation subject to ordinary income tax in the
year of the disqualifying disposition and Holdco will be
entitled to a deduction for compensation expense in an amount
equal to the amount included in income by the participant. The
participant generally will be required to include in income an
amount equal to the difference between the fair market value of
the shares at the time of exercise and the
</DIV>

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<DIV align="left" style="font-size: 10pt;">
exercise price. Any appreciation in value after the time of
exercise will be taxed as capital gain and will not result in
any deduction by Holdco.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If nonqualified stock options are granted to a participant,
there are no federal income tax consequences at the time of
grant. Upon exercise of the option, the participant must report
as ordinary income an amount equal to the difference between the
exercise price and the fair market value of the shares on the
date of exercise. Holdco will receive a tax deduction in like
amount. Any appreciation in value after the time of exercise
will be taxed as capital gain and will not result in any
deduction by Holdco.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
No income will be realized by the participant in connection with
the grant of any SAR. The participant must include in ordinary
income the amount of cash received and the fair market value on
the exercise date of any shares received upon the exercise of a
SAR. Holdco will be entitled to a deduction equal to the amount
included in such participant&#146;s income by reason of the
exercise of any SAR.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Except as described in the following paragraph, a grant of
restricted shares does not constitute a taxable event for either
a participant or Holdco. However, the participant will be
subject to tax, at ordinary income tax rates, based on the fair
market value of the shares when they are no longer subject to a
substantial risk of forfeiture or they become transferable.
Holdco will be entitled to take a commensurate deduction at that
time.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
A participant may elect to recognize taxable ordinary income at
the time restricted shares are awarded in an amount equal to the
fair market value of the shares at the time of grant, determined
without regard to any forfeiture restrictions. Any such election
must be filed with the Internal Revenue Service within
30&nbsp;days following the date of grant. If such an election is
made, Holdco will be entitled to a deduction at that time in the
same amount. Future appreciation on the shares will be taxed at
the capital gains rate when the shares are sold. However, if,
after making such an election, the shares are forfeited, the
participant will be unable to claim a deduction.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Pursuant to Section&nbsp;162(m) of the Code, Holdco may not
deduct compensation of more than $1,000,000 that is paid to an
individual who, on the last day of the taxable year, is either
Holdco&#146;s chief executive officer or is among one of the
four other most highly-compensated officers for that taxable
year as reported in Holdco&#146;s proxy statement (a Covered
Employee). The limitation on deductions does not apply to
certain types of compensation, including qualified
performance-based compensation. It is intended that awards under
the Incentive Plan made to Covered Employees in the form of
options, performance-based restricted share awards, SARs, and
cash payments under annual incentive awards will constitute
qualified performance-based compensation and, as such, will be
exempt from the $1,000,000 limitation on deductible
compensation, but no assurance can be made in this regard.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The American Jobs Creation Act of 2004, enacted at the end of
2004, added new Section&nbsp;409A of the Code. Section&nbsp;409A
imposes additional tax and interest charges on service providers
who receive certain deferred compensation that does not meet the
requirements of Section&nbsp;409A. Holdco intends that awards
under the Incentive Plan will meet the requirements of
Section&nbsp;409A, but no assurance can be made in this regard.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Awards made to participants under the Incentive Plan may be
subject to federal, state and local income tax and employment
tax withholding obligations and Holdco will comply with any
requirements to withhold such taxes.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>ERISA Status.</I> The Incentive Plan is not subject to the
provisions of the Employee Retirement Income Security Act of
1974, as amended.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>The GameStop board of directors recommends you vote&nbsp;FOR
the adoption of the Holdco 2005 Incentive Plan, and your proxy
will be so voted unless you specify otherwise.</B>
</DIV>

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<DIV align="left" style="font-size: 10pt;">
<A name='147'></A>
</DIV>

<!-- link1 "GAMESTOP PROPOSAL 3 -- ELECTION OF GAMESTOP DIRECTORS" -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>GAMESTOP PROPOSAL&nbsp;3&nbsp;&#151; ELECTION OF GAMESTOP
DIRECTORS</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
GameStop&#146;s board of directors currently consists of seven
directors. GameStop&#146;s certificate of incorporation divides
its board of directors into three classes: Class&nbsp;I, whose
terms will expire at the GameStop annual meeting of stockholders
to be held in 2006, Class&nbsp;II, whose terms will expire at
the GameStop annual meeting of stockholders to be held in 2007,
and Class&nbsp;III, whose terms will expire at this year&#146;s
GameStop annual meeting. Michael N. Rosen and Edward A. Volkwein
are in Class&nbsp;I; R.&nbsp;Richard Fontaine and Stephanie M.
Shern are in Class&nbsp;II; and Daniel A. DeMatteo, Leonard
Riggio and Gerald R. Szczepanski are in Class&nbsp;III and are
nominated for re-election at this year&#146;s GameStop annual
meeting. At each GameStop annual meeting of stockholders, the
successors to directors whose terms will then expire will be
elected to serve from the time of election and qualification
until the third GameStop annual meeting following election.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In addition, GameStop&#146;s certificate of incorporation
provides that the authorized number of directors may be changed
only by resolution of the GameStop board of directors and may be
from three to fifteen. Any additional directorships resulting
from an increase in the number of directors will be distributed
among the three classes so that, as nearly as possible, each
class will consist of one-third of the total number of directors.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In accordance with the recommendation of the Nominating and
Corporate Governance Committee, the GameStop board of directors
has nominated Daniel A. DeMatteo, Leonard Riggio and Gerald R.
Szczepanski, each of whom is currently a member of the GameStop
board of directors, for election as Class&nbsp;III directors. If
elected, such nominees will serve for three-year terms to expire
at GameStop&#146;s annual meeting of stockholders in 2008 or
until their successors are duly elected and qualified. If the
proposed mergers are consummated, Daniel&nbsp;A. DeMatteo, if he
is re-elected, will become a Class&nbsp;I director whose term
will expire in 2006.
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
For information regarding the Class&nbsp;III directors nominated
for reelection, and regarding the GameStop board of directors as
a whole, see &#147;Information about GameStop&nbsp;&#151;
Information about the Board of Directors and Executive Officers
of GameStop&#148; on page&nbsp;99.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>The GameStop board of directors recommends you vote&nbsp;FOR
the election of the GameStop nominees for director named above,
and your proxy will be so voted unless you specify otherwise.</B>
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='148'></A>
</DIV>

<!-- link1 "GAMESTOP PROPOSAL 4 -- RATIFICATION OF THE APPOINTMENT OF" -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>GAMESTOP PROPOSAL&nbsp;4&nbsp;&#151; RATIFICATION OF THE
APPOINTMENT OF</B>
</DIV>

<DIV align="center" style="font-size: 10pt;">
<B>GAMESTOP&#146;S REGISTERED INDEPENDENT PUBLIC ACCOUNTING
FIRM</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The GameStop board of directors has appointed the firm of BDO
Seidman, LLP, which firm was engaged as GameStop&#146;s
registered independent public accounting firm for the fiscal
year ended January&nbsp;29, 2005, to audit the financial
statements of GameStop for the fiscal year ending
January&nbsp;28, 2006. A proposal to ratify this appointment is
being presented to the GameStop stockholders at the GameStop
annual meeting. A representative of BDO Seidman will be present
at the GameStop annual meeting and will have the opportunity to
make a statement and will be available to respond to appropriate
questions.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
For information regarding audit-related and other fees, see
&#147;Information about GameStop&nbsp;&#151; GameStop Registered
Independent Public Accounting Firm&#148; on page&nbsp;116.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>The GameStop board of directors considers BDO Seidman to be
well qualified and recommends you vote&nbsp;FOR the
ratification, and your proxy will be so voted unless you specify
otherwise.</B>
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='149'></A>
</DIV>

<!-- link1 "Votes Required" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Votes Required</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The presence of a majority of the voting power of the shares of
GameStop common stock entitled to vote at the GameStop annual
meeting must be represented in person or by proxy at the
GameStop annual meeting to constitute a quorum. The adoption of
the merger agreement and the transactions contemplated thereby,
including the GameStop merger, and the approval of the amendment
to GameStop&#146;s certificate of incorporation and the
amendment to the GameStop Amended and Restated 2001 Incentive
Plan
</DIV>

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<DIV align="left" style="font-size: 10pt;">
(collectively, the merger proposal) requires the affirmative
vote of a majority of the outstanding shares of GameStop
Class&nbsp;A common stock, voting as a single class, and the
affirmative vote of a majority of the outstanding shares of
GameStop Class&nbsp;A common stock and GameStop Class&nbsp;B
common stock, voting together as a single class. The adoption of
the Holdco 2005 Incentive Plan requires the affirmative vote of
a majority of the voting power of GameStop common stock voting
on the proposal in person or by proxy at the GameStop annual
meeting. The three nominees for GameStop director receiving the
highest vote totals will be elected as directors of GameStop to
serve until the 2008 GameStop annual meeting of stockholders.
The ratification of BDO Seidman, LLP as GameStop&#146;s
registered independent public accounting firm requires the
affirmative vote of a majority of the voting power of GameStop
common stock voting on the proposal in person or by proxy at the
GameStop annual meeting. At the GameStop annual meeting, each
holder of GameStop Class&nbsp;A common stock is entitled to one
vote for each share of GameStop Class&nbsp;A common stock, and
each holder of GameStop Class&nbsp;B common stock is entitled to
ten votes for each share of GameStop Class&nbsp;B common stock,
held as of the GameStop record date on all matters properly
submitted to the GameStop stockholders.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Pursuant to a voting agreement, the Riggio Group has agreed to
vote their shares of GameStop common stock in favor of the
adoption of the merger proposal. As of August&nbsp;30, 2005, the
GameStop record date, the Riggio Group owned approximately
5.3&nbsp;million shares of GameStop Class&nbsp;B common stock,
which represents approximately 16.4% of the combined voting
power of all classes of GameStop&#146;s voting stock. The Riggio
Group also holds exercisable options to acquire
4,500,000&nbsp;shares of GameStop Class&nbsp;A common stock.
These options are not expected to be exercised prior to the
GameStop record date and therefore the Riggio Group is not
expected to have any voting power with respect to the GameStop
Class&nbsp;A common stock.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
A complete list of GameStop stockholders entitled to vote at the
GameStop annual meeting will be available for inspection at the
executive offices of GameStop during regular business hours for
a period of no less than ten days before the GameStop annual
meeting.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='150'></A>
</DIV>

<!-- link1 "Adjournment or Postponement" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Adjournment or Postponement</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The GameStop annual meeting may be adjourned or postponed by
GameStop&#146;s chairman and other authorized persons in order
to permit further solicitation of proxies. However, no proxy
that is voted against a proposal described in this joint proxy
statement-prospectus will be voted in favor of an adjournment.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='151'></A>
</DIV>

<!-- link1 "Proxies" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Proxies</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
All shares of GameStop common stock represented by properly
executed proxies or voting instructions (including those given
through electronic voting through the Internet or by telephone)
received before or at the GameStop annual meeting prior to the
closing of the polls will, unless revoked, be voted in
accordance with the instructions indicated on those proxies or
voting instructions. If no instructions are indicated on a
properly executed proxy card, the shares will be voted FOR
adoption of the GameStop proposals described herein. If you
return a properly executed proxy card or voting instruction card
and have indicated that you have abstained from voting, your
GameStop common stock represented by the proxy will be
considered present at the GameStop annual meeting for purposes
of determining a quorum, but will have the same effect as a vote
against adopting the merger proposal described herein. We urge
you to mark each applicable box on the proxy card or voting
instruction card to indicate how to vote your shares.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If your GameStop shares are held in an account at a broker or
bank, you must instruct the broker or bank on how to vote your
GameStop shares. If an executed proxy card returned by a broker
or bank holding GameStop shares indicates that the broker or
bank does not have discretionary authority to vote on a
particular matter, the shares will be considered present at the
GameStop annual meeting for purposes of determining the presence
of a quorum, but will have the same effect as a vote against
adopting the merger proposal. This is called a broker non-vote.
Your broker or bank will vote your GameStop shares
</DIV>

<P align="center" style="font-size: 10pt;">30

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV align="left" style="font-size: 10pt;">
over which it does not have discretionary authority only if you
provide instructions on how to vote by following the
instructions provided to you by your broker or bank.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Because the adoption of the merger proposal requires the
affirmative vote of a majority of the outstanding shares of
GameStop Class&nbsp;A common stock, voting as a single class,
and the affirmative vote of a majority of the GameStop
Class&nbsp;A common stock and GameStop Class&nbsp;B common
stock, voting together as a single class, abstentions, failures
to vote and broker non-votes will have the same effect as votes
against adopting the merger proposal.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
GameStop does not expect that any matter other than the
proposals described herein will be brought before its annual
meeting. If, however, other matters are properly presented, the
persons named as proxies will vote in accordance with their
judgment with respect to those matters, unless you withhold
authority to do so on the proxy card or voting instruction card.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The persons named as proxies may vote for one or more
adjournments of the GameStop annual meeting to permit further
solicitations in favor of the proposals to be considered at
those meetings. However, no proxy that is voted against a
proposal described in this joint proxy statement-prospectus will
be voted in favor of an adjournment.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
You may revoke your proxy at any time before it is voted by:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    filing a written notice of revocation with the Secretary,
    GameStop Corp., 625 Westport Parkway, Grapevine, Texas 76051;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    delivering a subsequently dated proxy;&nbsp;or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    appearing in person and voting at the GameStop annual meeting if
    you are a holder of record.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Attendance at the GameStop annual meeting will not in and of
itself constitute revocation of a proxy. If the GameStop annual
meeting is postponed or adjourned, it will not affect the
ability of GameStop stockholders of record as of the GameStop
record date to exercise their voting rights or to revoke any
previously-granted proxy using the methods described above.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='152'></A>
</DIV>

<!-- link1 "Voting Electronically or by Telephone" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Voting Electronically or by Telephone</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Because Delaware, the state in which GameStop is incorporated,
permits electronic submission of proxies through the Internet or
by telephone, instead of submitting proxies by mail on the
enclosed proxy card or voting instruction card, GameStop
stockholders of record and many GameStop stockholders who hold
their shares through a broker or bank will have the option to
submit their proxies or voting instructions electronically
through the Internet or by telephone. Please note that there are
separate arrangements for using the Internet and telephone
depending on whether your shares are registered in
GameStop&#146;s stock records in your name or in the name of a
broker, bank or other holder of record. If you hold your
GameStop shares through a broker, bank or other holder of
record, you should check your proxy card or voting instruction
card forwarded by your broker, bank or other holder of record to
see which options are available.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Stockholders of record of GameStop common stock at the close of
business on August&nbsp;30, 2005, the GameStop record date, may
submit their proxies:
</DIV>


<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    through the Internet by visiting a website established for that
    purpose at http://www.proxyvotenow.com/gme and following the
    instructions;&nbsp;or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    by telephone by calling the toll-free number 866-407-4408 in the
    United States, Puerto Rico or Canada on a touch-tone phone and
    following the recorded instructions.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In order to vote via the telephone or the Internet, please have
in front of you either your proxy card, or if you have consented
to receive your materials electronically, your e-mail
notification advising that materials are available on-line. A
phone number and an Internet website address are contained on
each of
</DIV>

<P align="center" style="font-size: 10pt;">31

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<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV align="left" style="font-size: 10pt;">
the documents. Upon entering either the phone number or the
Internet website address, you will be instructed on how to
proceed.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='153'></A>
</DIV>

<!-- link1 "Solicitation of Proxies" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Solicitation of Proxies</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
To assist in the solicitation of proxies, GameStop has retained
Georgeson Shareholder Communications, Inc. for a fee not to
exceed $9,000 plus reimbursement of expenses. GameStop and its
proxy solicitor will also request banks, brokers and other
intermediaries holding shares of GameStop common stock
beneficially owned by others to send this joint proxy
statement-prospectus to, and obtain proxies from, the beneficial
owners and will, if requested, reimburse the record holders for
their reasonable out-of-pocket expenses in so doing.
Solicitation of proxies by mail may be supplemented by telephone
and other electronic means, advertisements and personal
solicitation by the directors, officers or employees of
GameStop. No additional compensation will be paid to
GameStop&#146;s directors, officers or employees for soliciting
votes in connection with the GameStop annual meeting.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='154'></A>
</DIV>

<!-- link1 "THE EB ANNUAL MEETING" -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>THE EB ANNUAL MEETING</B>
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='155'></A>
</DIV>

<!-- link1 "Joint Proxy Statement-Prospectus" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Joint Proxy Statement-Prospectus</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
This joint proxy statement-prospectus is being furnished to you
in connection with the solicitation of proxies by the EB board
of directors in connection with EB&#146;s annual meeting of
stockholders.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
This joint proxy statement-prospectus is first being furnished
to EB stockholders on or about September&nbsp;7, 2005.
</DIV>


<DIV align="left" style="font-size: 10pt;">
<A name='156'></A>
</DIV>

<!-- link1 "Date, Time and Place of the EB Annual Meeting" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Date, Time and Place of the EB Annual Meeting</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The EB annual meeting is scheduled to be held as follows:
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
Thursday, October&nbsp;6, 2005
</DIV>



<DIV align="center" style="font-size: 10pt;">
EB&#146;s Executive Offices
</DIV>



<DIV align="center" style="font-size: 10pt;">
931 South Matlack Street
</DIV>



<DIV align="center" style="font-size: 10pt;">
West Chester, Pennsylvania
</DIV>



<DIV align="center" style="font-size: 10pt;">
1:00 p.m., local time
</DIV>


<DIV align="left" style="font-size: 10pt;">
<A name='157'></A>
</DIV>

<!-- link1 "Purpose of the EB Annual Meeting" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Purpose of the EB Annual Meeting</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
At the EB annual meeting, EB&#146;s stockholders will be asked:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    1.&nbsp;To consider and vote on a proposal to adopt the
    Agreement and Plan of Merger, dated as of April&nbsp;17, 2005,
    by and among GameStop, GameStop, Inc., GSC Holdings Corp., Eagle
    Subsidiary LLC, Cowboy Subsidiary LLC and EB, including the
    transactions contemplated thereby, including the EB merger,
    pursuant to which, among other things, separate subsidiaries of
    Holdco will be merged with and into GameStop and EB. In the
    proposed mergers, EB common stockholders will have the right to
    receive $38.15 in cash and .78795 of a share of Holdco
    Class&nbsp;A common stock for each share of EB common stock that
    they own. In addition, GameStop stockholders will receive one
    share of Holdco Class&nbsp;A common stock for each share of
    GameStop Class&nbsp;A common stock that they own and one share
    of Holdco Class&nbsp;B common stock for each share of GameStop
    Class&nbsp;B common stock that they own. A copy of the merger
    agreement is attached as <U>Annex&nbsp;A</U> to the accompanying
    joint proxy statement-prospectus.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    2.&nbsp;To consider and vote on the adoption of the Holdco 2005
    Incentive Plan.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    3.&nbsp;To elect seven directors as EB&#146;s board of directors.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    4.&nbsp;To consider and vote upon a proposal to ratify the
    appointment of KPMG LLP as EB&#146;s registered independent
    public accounting firm for EB&#146;s fiscal year ending
    January&nbsp;28, 2006.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">32

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    5.&nbsp;To transact such other business as may properly come
    before the EB annual meeting or any adjournment or postponement
    of the EB annual meeting.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt;">
<A name='158'></A>
</DIV>

<!-- link1 "Record Date for the EB Annual Meeting" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Record Date for the EB Annual Meeting</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The EB board of directors has fixed the close of business on
August&nbsp;30, 2005 as the EB record date for determination of
EB stockholders entitled to notice of and to vote at EB&#146;s
annual meeting of stockholders.
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
On the EB record date, there were 25,383,744&nbsp;shares of EB
common stock outstanding and entitled to vote at the EB annual
meeting, held by approximately 41&nbsp;holders of record. Shares
that are held in EB&#146;s treasury are not entitled to vote at
the EB annual meeting.
</DIV>


<DIV align="left" style="font-size: 10pt;">
<A name='159'></A>
</DIV>

<!-- link1 "Recommendation of the Board of Directors of EB" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Recommendation of the Board of Directors of EB</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>As discussed elsewhere in this joint proxy
statement-prospectus, EB&#146;s board of directors has approved
the merger agreement and the transactions contemplated thereby,
including the EB merger, and has determined that the
transactions contemplated by the merger agreement are advisable
and fair to and in the best interests of EB and its
stockholders. The EB board of directors recommends that EB
stockholders vote:</B>
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    FOR the proposal to adopt the merger agreement and the
    transactions contemplated thereby, including the EB merger;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    FOR the adoption of the Holdco 2005 Incentive Plan;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    FOR the election of the EB nominees for director named in this
    joint proxy statement-prospectus;&nbsp;and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    FOR the ratification of KPMG LLP as EB&#146;s registered
    independent public accounting firm for EB&#146;s fiscal year
    ending January&nbsp;28, 2006.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt;">
<A name='160'></A>
</DIV>

<!-- link1 "EB PROPOSAL 1 -- THE MERGERS" -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>EB PROPOSAL&nbsp;1&nbsp;&#151; THE MERGERS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
As discussed elsewhere in this joint proxy statement-prospectus,
EB stockholders are considering and voting on a proposal to
adopt the merger agreement and the transactions contemplated
thereby, including the EB merger. You should carefully read this
entire joint proxy statement-prospectus, including the full text
of the merger agreement, which is attached as
<U>Annex&nbsp;A</U>, and the other documents we refer you to for
a more complete understanding of the mergers. In addition, we
incorporate important business and financial information about
each of GameStop and EB into this joint proxy
statement-prospectus by reference. You may obtain the
information incorporated by reference into this joint proxy
statement-prospectus without charge by following the
instructions in the section entitled &#147;Where You Can Find
More Information&#148; which begins on page&nbsp;162.
</DIV>


<DIV align="left" style="font-size: 10pt;">
<A name='161'></A>
</DIV>

<!-- link1 "Effect of the EB Merger; What You Will Receive in the EB Merger" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Effect of the EB Merger; What You Will Receive in the EB
Merger</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Upon completion of the EB merger, Eagle Subsidiary LLC, a
wholly-owned subsidiary of Holdco newly organized to effect the
EB merger, will merge with and into EB. EB will be the surviving
corporation in the EB merger and will thereby become a
wholly-owned subsidiary of Holdco.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If the EB merger is completed, EB common stockholders will
receive $38.15 in cash and .78795 of a share of Holdco
Class&nbsp;A common stock for each share of EB common stock that
they own. Upon completion of the mergers, current holders of EB
common stock will, as a group, own approximately 27.9% of the
outstanding common stock of the combined company, which equals
approximately 5.9% of the combined voting power of Holdco.
Holdco will not issue fractional shares of Holdco common stock
in exchange for shares of EB. Holders of EB common stock that
would otherwise be entitled to a fractional share of Holdco
common stock will instead receive an amount in cash equal to
such fraction multiplied by
</DIV>

<P align="center" style="font-size: 10pt;">33
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV align="left" style="font-size: 10pt;">
the average of the closing sale prices of GameStop Class&nbsp;A
common stock on the ten trading days prior to the date on which
the EB merger is completed.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Each outstanding EB stock option will be exchanged for the right
to receive cash in an amount equal to (1)&nbsp;$38.15
<U>plus</U> (2) .78795 <U>multiplied by</U> the average of the
closing prices of GameStop Class&nbsp;A common stock for the ten
trading days prior to the closing date <U>minus</U> (3)&nbsp;the
exercise price per share of such stock option <U>minus</U>
(4)&nbsp;any applicable tax withholding.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The rights pertaining to Holdco common stock will be different
from the rights pertaining to EB common stock because the
amended and restated certificate of incorporation and amended
and restated bylaws of Holdco in effect immediately after the
mergers are completed will be different from those of EB. A
further description of the rights pertaining to Holdco common
stock and Holdco&#146;s amended and restated certificate of
incorporation and amended and restated bylaws which will be in
effect immediately after the mergers are completed is further
described under &#147;Description of Holdco Capital
Stock&nbsp;&#151; Common Stock&#148; on page&nbsp;141 and
&#147;Comparison of Stockholder Rights&#148; beginning on
page&nbsp;144.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>The EB board of directors recommends you vote&nbsp;FOR the
adoption of the merger agreement and the transactions
contemplated thereby, including the EB merger, and your proxy
will be so voted unless you specify otherwise.</B>
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='162'></A>
</DIV>

<!-- link1 "EB PROPOSAL 2 -- ADOPTION OF" -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>EB PROPOSAL&nbsp;2&nbsp;&#151; ADOPTION OF</B>
</DIV>

<DIV align="center" style="font-size: 10pt;">
<B>HOLDCO 2005 INCENTIVE PLAN</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Holdco board of directors has approved, subject to the
approval of EB&#146;s stockholders and GameStop&#146;s
stockholders, the adoption of the Holdco 2005 Incentive Plan. A
copy of the Incentive Plan is included as <U>Annex&nbsp;K</U> to
this joint proxy statement-prospectus.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='163'></A>
</DIV>

<!-- link1 "Holdco 2005 Incentive Plan" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Holdco 2005 Incentive Plan</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
For a description of the Holdco 2005 Incentive Plan, see
&#147;The GameStop Annual Meeting&nbsp;&#151; GameStop
Proposal&nbsp;2&nbsp;&#151; Adoption of Holdco 2005 Incentive
Plan&#148; on page&nbsp;25.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>The EB board of directors recommends you vote&nbsp;FOR the
adoption of the Holdco 2005 Incentive Plan, and your proxy will
be so voted unless you specify otherwise.</B>
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='164'></A>
</DIV>

<!-- link1 "EB PROPOSAL 3 -- ELECTION OF EB DIRECTORS" -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>EB PROPOSAL&nbsp;3&nbsp;&#151; ELECTION OF EB DIRECTORS</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
EB&#146;s certificate of incorporation and bylaws provide that
its directors serve for a term of one year and until their
successors are elected.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The EB board of directors has nominated for election as EB
directors:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    Dean S. Adler,</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    Jeffrey W. Griffiths,</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    James J. Kim,</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    Susan Y. Kim,</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    Louis J. Siana,</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    Alfred J. Stein,&nbsp;and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    Stanley (Mickey) Steinberg.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Each nominee is currently a member of the EB board of directors.
If elected, these nominees will serve for a term of one year
which expires at EB&#146;s annual meeting of stockholders in
2006, until their successors are duly elected and qualified or
until their earlier resignation.
</DIV>

<P align="center" style="font-size: 10pt;">34

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The EB board of directors has no reason to believe that any of
the nominees will not serve if elected, but if any nominee
should subsequently become unavailable to serve as a director,
the persons named as proxies may, in their discretion, vote for
a substitute nominee designated by the EB board of directors or,
alternatively, the EB board of directors may reduce the number
of directors to be elected at the EB annual meeting.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
For information regarding the seven nominees for EB&#146;s board
of directors, see &#147;Information about EB&nbsp;&#151;
Information about the Board of Directors and Executive Officers
of EB&#148; beginning on page&nbsp;119.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>The EB board of directors recommends you vote&nbsp;FOR the
election of the EB nominees for director named above, and your
proxy will be so voted unless you specify otherwise.</B>
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='165'></A>
</DIV>

<!-- link1 "EB PROPOSAL 4 -- RATIFICATION OF THE APPOINTMENT OF" -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>EB PROPOSAL&nbsp;4&nbsp;&#151; RATIFICATION OF THE
APPOINTMENT OF</B>
</DIV>

<DIV align="center" style="font-size: 10pt;">
<B>EB&#146;S REGISTERED INDEPENDENT PUBLIC ACCOUNTING FIRM</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The EB board of directors has appointed the firm of KPMG LLP,
which firm was engaged as EB&#146;s registered independent
public accounting firm for the fiscal year ended
January&nbsp;29, 2005, to audit the financial statements of EB
for the fiscal year ending January&nbsp;28, 2006. A proposal to
ratify this appointment is being presented to the EB
stockholders at the EB annual meeting. A representative of KPMG
will be present at the EB annual meeting and will have the
opportunity to make a statement and will be available to respond
to appropriate questions.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
For information regarding audit-related and other fees, see
&#147;Information about EB&nbsp;&#151; EB Registered Independent
Public Accounting Firm&#148; on page&nbsp;132.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>The EB board of directors considers KPMG to be well qualified
and recommends you vote&nbsp;FOR the ratification, and your
proxy will be so voted unless you specify otherwise.</B>
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='166'></A>
</DIV>

<!-- link1 "Votes Required" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Votes Required</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The presence of a majority of the outstanding shares of EB
common stock entitled to vote at the EB annual meeting must be
represented in person or by proxy at the EB annual meeting to
constitute a quorum. The adoption of the merger agreement and
the transactions contemplated thereby, including the EB merger,
requires the affirmative vote of a majority of the outstanding
shares of EB common stock. The adoption of the Holdco 2005
Incentive Plan requires the affirmative vote of a majority of
the outstanding shares of EB common stock voting on the proposal
in person or by proxy at the EB annual meeting. The seven
nominees for EB director receiving the highest vote totals will
be elected as directors of EB to serve until the next EB annual
meeting of stockholders or their earlier resignation. The
ratification of KPMG LLP as EB&#146;s registered independent
public accounting firm requires the affirmative vote of a
majority of the outstanding shares of EB common stock voting on
the proposal in person or by proxy at the EB annual meeting. At
the EB annual meeting, each holder of EB common stock is
entitled to one vote for each share of EB common stock held as
of the EB record date on all matters properly submitted to the
EB stockholders.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Pursuant to a voting agreement, subject to certain limitations,
the Kim Group has agreed to vote its shares of EB common stock
in favor of the adoption of the merger agreement. As of
August&nbsp;30, 2005, the EB record date, the Kim Group
beneficially owned approximately 11.6&nbsp;million shares of EB
common stock which represents approximately 45.6% of the
outstanding shares of EB common stock entitled to vote at the EB
annual meeting.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
A complete list of EB stockholders entitled to vote at the EB
annual meeting will be available for inspection at the executive
offices of EB during regular business hours for a period of no
less than ten days before the EB annual meeting.
</DIV>

<P align="center" style="font-size: 10pt;">35

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<DIV align="left" style="font-size: 10pt;">
<A name='167'></A>
</DIV>

<!-- link1 "Adjournment or Postponement" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Adjournment or Postponement</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The EB annual meeting may be adjourned or postponed by EB&#146;s
chairman and other authorized persons in order to permit further
solicitation of proxies. However, no proxy that is voted against
a proposal described in this joint proxy statement-prospectus
will be voted in favor of an adjournment.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='168'></A>
</DIV>

<!-- link1 "Proxies" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Proxies</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
All shares of EB common stock represented by properly executed
proxies or voting instructions (including those given through
electronic voting through the Internet or by telephone) received
before or at the EB annual meeting prior to the closing of the
polls will, unless revoked, be voted in accordance with the
instructions indicated on those proxies or voting instructions.
If no instructions are indicated on a properly executed proxy
card, the shares will be voted FOR adoption of the proposals
described herein. If you return a properly executed proxy card
or voting instruction card and have indicated that you have
abstained from voting, your EB common stock represented by the
proxy will be considered present at the EB annual meeting for
purposes of determining a quorum, but will have the same effect
as a vote against adopting the merger agreement as described
herein. We urge you to mark each applicable box on the proxy
card or voting instruction card to indicate how to vote your
shares.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If your EB shares are held in an account at a broker or bank,
you must instruct the broker or bank on how to vote your EB
shares. If an executed proxy card returned by a broker or bank
holding EB shares indicates that the broker or bank does not
have discretionary authority to vote on a particular matter, the
shares will be considered present at the EB annual meeting for
purposes of determining the presence of a quorum, but will have
the same effect as a vote against adopting the merger agreement.
This is called a broker non-vote. Your broker or bank will vote
your EB shares over which it does not have discretionary
authority only if you provide instructions on how to vote by
following the instructions provided to you by your broker or
bank.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Because the adoption of the merger agreement requires the
affirmative vote of a majority of the outstanding shares of EB
common stock, abstentions, failures to vote and broker non-votes
will have the same effect as votes against adopting the merger
agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
EB does not expect that any matter other than the proposals
described herein will be brought before its annual meeting. If,
however, other matters are properly presented, the persons named
as proxies will vote in accordance with their judgment with
respect to those matters, unless you withhold authority to do so
on the proxy card or voting instruction card.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The persons named as proxies may vote for one or more
adjournments of the EB annual meeting to permit further
solicitations in favor of the proposals to be considered at
those meetings. However, no proxy that is voted against a
proposal described in this joint proxy statement-prospectus will
be voted in favor of an adjournment.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
You may revoke your proxy at any time before it is voted by:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    filing a written notice of revocation with the Secretary,
    Electronics Boutique Holdings Corp., 931&nbsp;South Matlack
    Street, West Chester, Pennsylvania 19382, if you are an EB
    stockholder;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    delivering a subsequently dated proxy;&nbsp;or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    appearing in person and voting at the EB annual meeting if you
    are a holder of record.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Attendance at the EB annual meeting will not in and of itself
constitute revocation of a proxy. If the EB annual meeting is
postponed or adjourned, it will not affect the ability of EB
stockholders of record as of the EB record date to exercise
their voting rights or to revoke any previously-granted proxy
using the methods described above.
</DIV>

<P align="center" style="font-size: 10pt;">36

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<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV align="left" style="font-size: 10pt;">
<A name='169'></A>
</DIV>

<!-- link1 "Voting Electronically or by Telephone" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Voting Electronically or by Telephone</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Because Delaware, the state in which EB is incorporated, permits
electronic submission of proxies through the Internet or by
telephone, instead of submitting proxies by mail on the enclosed
proxy card or voting instruction card, EB stockholders of record
and many EB stockholders who hold their shares through a broker
or bank will have the option to submit their proxies or voting
instructions electronically through the Internet or by
telephone. Please note that there are separate arrangements for
using the Internet and telephone depending on whether your
shares are registered in EB&#146;s stock records in your name or
in the name of a broker, bank or other holder of record. If you
hold your EB shares through a broker, bank or other holder of
record, you should check your proxy card or voting instruction
card forwarded by your broker, bank or other holder of record to
see which options are available.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Stockholders of record of EB common stock at the close of
business on August&nbsp;30, 2005, the EB record date, may submit
their proxies:
</DIV>


<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    through the Internet by visiting a website established for that
    purpose at http://www.eproxyvote.com/ELBO and following the
    instructions;&nbsp;or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    by telephone by calling the toll-free number 877-779-8683 in the
    United States, Puerto Rico or Canada on a touch-tone phone and
    following the recorded instructions.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In order to vote via the telephone or the Internet, please have
in front of you either your proxy card, or if you have consented
to receive your materials electronically, your e-mail
notification advising that materials are available on-line. A
phone number and an Internet website address are contained on
each of the documents. Upon entering either the phone number or
the Internet website address, you will be instructed on how to
proceed.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='170'></A>
</DIV>

<!-- link1 "Solicitation of Proxies" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Solicitation of Proxies</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
To assist in the solicitation of proxies, EB has retained
Georgeson Shareholder Communications, Inc. for a fee not to
exceed $9,000 plus reimbursement of expenses. EB and its proxy
solicitor will also request banks, brokers and other
intermediaries holding shares of EB common stock beneficially
owned by others to send this joint proxy statement-prospectus
to, and obtain proxies from, the beneficial owners and will, if
requested, reimburse the record holders for their reasonable
out-of-pocket expenses in so doing. Solicitation of proxies by
mail may be supplemented by telephone and other electronic
means, advertisements and personal solicitation by the
directors, officers or employees of EB. No additional
compensation will be paid to EB&#146;s directors, officers or
employees for soliciting votes in connection with the EB annual
meeting.
</DIV>

<P align="center" style="font-size: 10pt;">37

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<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV align="left" style="font-size: 10pt;">
<A name='171'></A>
</DIV>

<!-- link1 "THE MERGERS" -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>THE MERGERS</B>
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='172'></A>
</DIV>

<!-- link1 "Background of the Mergers" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Background of the Mergers</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
On several isolated occasions prior to January 2005,
representatives of EB approached Leonard Riggio, a director of
GameStop and Chairman of Barnes&nbsp;&#38; Noble, about the
possibility of either combining EB and GameStop or EB acquiring
a controlling interest in GameStop from Barnes&nbsp;&#38; Noble.
In each case, the contacts were preliminary and did not result
in any negotiations regarding a transaction involving EB or
GameStop or any discussions of significant economic terms with
respect to any transaction involving either of the two companies.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
On January&nbsp;10, 2005, R. Richard Fontaine, GameStop&#146;s
Chairman and Chief Executive Officer, and John R. Panichello,
EB&#146;s Executive Vice President and Chief Operating Officer,
met while attending the same social function. Mr.&nbsp;Fontaine
and Mr.&nbsp;Panichello briefly discussed whether a combination
of GameStop and EB might be beneficial for the stockholders of
both companies. Messrs.&nbsp;Fontaine and Panichello agreed to
further examine independently the benefits of such a combination.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
On January&nbsp;12, 2005, representatives of Merrill Lynch,
EB&#146;s financial advisor, met with Mr.&nbsp;Riggio. At the
meeting, the Merrill Lynch representatives indicated that EB was
willing to consider purchasing GameStop, either for
consideration consisting entirely of cash or some combination of
cash and EB common stock. The Merrill Lynch representatives and
Mr.&nbsp;Riggio agreed that Merrill Lynch would have discussions
with James J. Kim, EB&#146;s Chairman, with the aim of
developing a proposal to present to GameStop.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
On February&nbsp;9, 2005, Messrs.&nbsp;Fontaine and Riggio met
with Mr. Kim and representatives of Merrill Lynch and Keane
Advisors, LLC, an additional EB financial advisor, to discuss in
general terms a possible purchase of GameStop by EB. No proposal
was made at that time, although EB continued to express an
interest in developing one that would be mutually acceptable.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
On February&nbsp;10, 2005, representatives of Merrill Lynch
further discussed with Mr.&nbsp;Riggio a possible transaction
between GameStop and EB.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
On February&nbsp;14, 2005, Mr.&nbsp;Fontaine met with
Mr.&nbsp;Kim to discuss the possible benefits of a combination
and the roles Mr.&nbsp;Fontaine might be expected to assume with
the combined company. Mr.&nbsp;Fontaine met later that day with
a representative of Keane Advisors to discuss similar matters.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
On February&nbsp;24, 2005, Mr.&nbsp;Riggio had a conference call
with representatives of Merrill Lynch to further discuss a
possible transaction between GameStop and EB.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
On March&nbsp;1, 2005, Messrs.&nbsp;Kim and Panichello, along
with Jeffrey W. Griffiths, EB&#146;s President and Chief
Executive Officer and a member of EB&#146;s board of directors,
attended an industry marketing event where they met with Daniel
A. DeMatteo, GameStop&#146;s Vice Chairman (then President) and
Chief Operating Officer. They discussed the benefits of a
combination and the roles Mr.&nbsp;DeMatteo might be expected to
assume with the combined company.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
During the first two weeks of March 2005, GameStop considered an
unrelated alternative acquisition while awaiting a proposal from
EB. Mr.&nbsp;Riggio indicated to representatives of Merrill
Lynch at this time that he would expect that any proposal EB
might make to GameStop would reflect a substantial premium to
GameStop stockholders to the then-current trading price of
GameStop common stock.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
On March&nbsp;14, 2005, Citigroup Global Markets,
GameStop&#146;s financial advisor, and Merrill Lynch met to
discuss possible terms of a transaction between GameStop and EB.
Although Merrill Lynch indicated that EB preferred to be the
purchaser in any combination of the two companies, Merrill Lynch
did not propose any transaction that GameStop management
considered to provide an acceptable market premium to
GameStop&#146;s stockholders. As a result, it was subsequently
determined that discussions would cease so that each company
could pursue its own opportunities independently. During this
time, GameStop continued to consider an alternative acquisition.
</DIV>

<P align="center" style="font-size: 10pt;">38

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
On March&nbsp;29, 2005, Messrs.&nbsp;Fontaine, DeMatteo and
Riggio, together with GameStop&#146;s financial advisor, met to
discuss GameStop&#146;s strategic growth alternatives.
GameStop&#146;s financial advisor was authorized to contact EB
with a proposal for the acquisition of EB by GameStop.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
On March&nbsp;31, 2005, GameStop&#146;s financial advisor and
Merrill Lynch met to discuss the following GameStop proposal:
GameStop would acquire all of EB&#146;s outstanding common stock
for $38.15 in cash and 0.78795 of a share of GameStop
Class&nbsp;A common stock for each share of EB common stock.
Based upon the then-current trading price of GameStop
Class&nbsp;A common stock, the proposal had a value of
$54.50&nbsp;per share of EB common stock (with the consideration
consisting of approximately 70% cash and 30% GameStop
Class&nbsp;A common stock), reflecting an approximately 30%
premium to the then-current trading price of EB common stock.
GameStop&#146;s proposal also provided that GameStop&#146;s
board of directors would control the combined company and that
Messrs.&nbsp;Fontaine and DeMatteo would become Chairman and
Chief Executive Officer, and Vice Chairman and Chief Operating
Officer, respectively, of the combined company. Citigroup
indicated that GameStop had requested a prompt response from EB
so that GameStop would be in a position to determine whether to
pursue the alternative time-sensitive acquisition that it was
considering and that GameStop was prepared to work toward
announcing a transaction with EB by April&nbsp;18, 2005. Merrill
Lynch agreed to communicate GameStop&#146;s proposal and provide
EB&#146;s response as soon as practicable.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
On April&nbsp;2, 2005, a representative of Merrill Lynch
contacted GameStop&#146;s financial advisor and stated that,
subject to the completion of satisfactory due diligence, EB was
prepared to move forward with the transaction proposed by
GameStop. Merrill Lynch also indicated that EB would require
that Mr.&nbsp;Kim and an independent director to be selected by
EB become members of the board of directors of the combined
company. GameStop&#146;s financial advisor and Merrill Lynch
also discussed the desirability of obtaining, in connection with
the proposed transaction, agreements from each company&#146;s
significant stockholders (the Kim Group in the case of EB and
the Riggio Group in the case of GameStop) to vote in favor of
the transaction.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
On or about April&nbsp;6, 2005, representatives of the companies
held discussions regarding structural aspects of the proposed
transaction, including the use of Holdco, as a new holding
company, to acquire both GameStop (solely for Holdco stock) and
EB (for cash and Holdco stock). EB&#146;s representatives also
indicated that the Kim Group would require registration rights
with respect to the shares of Holdco stock it would receive in
the transaction as a condition to entering into the Kim Group
voting agreement given that, unlike the shares of Holdco
Class&nbsp;A common stock to be received by other EB
stockholders, those shares would not be freely transferable. In
addition, GameStop&#146;s representatives indicated to certain
of EB&#146;s representatives that one of GameStop&#146;s
conditions to proceeding with a transaction would be that
Mr.&nbsp;Kim enter into a non-competition agreement in favor of
GameStop.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
On April&nbsp;7, 2005, GameStop&#146;s and EB&#146;s
representatives had a conference call to discuss the respective
roles and responsibilities of the parties in proceeding with the
proposed transaction.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
On April&nbsp;8, 2005, GameStop and EB executed a mutual
confidentiality agreement pursuant to which they each agreed to
use the confidential information provided to it by the other
solely in connection with evaluating the proposed transaction
and to keep all such information confidential.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Following the signing of the mutual confidentiality agreement,
and continuing through April&nbsp;17, 2005, the parties and
their representatives exchanged information in response to their
respective due diligence requests and asked and answered
questions with respect to the exchanged materials. During that
period, through their counsel, the parties also prepared and
negotiated the relevant transaction documents, including the
merger agreement, the Kim Group voting agreement, the Riggio
Group voting agreement, the lender financing commitments and
forms of the non-competition agreement and the registration
rights agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
On April 11 and April&nbsp;12, 2005, Mr.&nbsp;Fontaine, together
with a representative of Keane Advisors, met with members of
EB&#146;s senior management to discuss their views with respect
to the proposed transaction and their willingness to continue
employment with the combined company.
</DIV>

<P align="center" style="font-size: 10pt;">39

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
On April&nbsp;11, 2005, the GameStop board of directors met
telephonically to discuss the terms of the proposed merger
agreement and the related financing, the merits of the
transaction and the status of the negotiations and due diligence
efforts. At this meeting, Citigroup reviewed with the GameStop
board of directors financial aspects of the proposed
transaction, and Bryan Cave reviewed with the board of directors
legal matters pertaining to the proposed transaction. After
discussion, the board of directors directed GameStop management
to continue to negotiate a final form of merger agreement and
related transaction documents, including lender financing
commitments, on the terms discussed at the meeting. The board of
directors agreed to meet again on April&nbsp;15, 2005 for a
further update on the status of the negotiations and due
diligence efforts and, if appropriate, to consider approval of
the transaction.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
On April&nbsp;12, 2005, the EB board of directors met at
EB&#146;s executive offices to discuss the terms of the proposed
merger agreement, the merits of the transaction and the status
of the negotiations and due diligence efforts. Merrill Lynch
reviewed with the EB board of directors financial aspects of the
proposed transaction, and Klehr Harrison reviewed with the EB
board of directors legal matters pertaining to the proposed
transaction. After discussion, the board of directors directed
EB management to continue to negotiate a final form of merger
agreement and related transaction documents on the terms
discussed at the meeting. The EB board of directors agreed to
meet again on or prior to April&nbsp;17, 2005 for a further
update on the status of the negotiations and due diligence
efforts and, if appropriate, to consider approval of the
transaction.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
On or about April&nbsp;12, 2005, EB retained Peter J. Solomon
Company as an additional financial advisor to provide a second
fairness opinion in connection with the possible business
combination transaction with GameStop in light of the
anticipated role of Merrill Lynch to assist in arranging
financing for the transaction. The EB board of directors
selected Peter J. Solomon Company as a result of its
qualifications, reputation and experience, particularly in the
retail sector.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
On April&nbsp;15, 2005, the GameStop board of directors met
telephonically to receive an update on the status of the
negotiations and due diligence findings. At this meeting,
Citigroup reviewed with the board of directors its financial
analysis of the proposed EB merger consideration. Bryan Cave
reviewed with the board of directors the changes made to the
merger agreement and other transaction documents since the last
board of directors meeting. The board of directors agreed to
meet on April&nbsp;17, 2005 once the merger agreement was
finalized, with the expectation that the board of directors
would consider approval of the final form of the merger
agreement at that meeting.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
On April&nbsp;17, 2005, the GameStop board of directors met
telephonically to receive a final update on the status of the
negotiations and due diligence findings. At this meeting,
Citigroup rendered to the board of directors its oral opinion,
confirmed by delivery of a written opinion dated April&nbsp;17,
2005, to the effect that, as of that date and based on and
subject to the matters described in its opinion, the EB merger
consideration was fair, from a financial point of view, to
GameStop. Bryan Cave reviewed with the board of directors the
final changes made to the merger agreement and other transaction
documents since the last board of directors meeting. The board
of directors authorized and directed GameStop&#146;s management
to execute and deliver to EB the final form of merger agreement
and related transaction documents presented to the board of
directors at the meeting and resolved to recommend the adoption
of the merger agreement to GameStop&#146;s stockholders.
GameStop exchanged with its lenders executed counterpart
signature pages of their financing commitments.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Also on April&nbsp;17, 2005, following the GameStop board of
directors meeting, the EB board of directors met telephonically
to receive a final update on the status of the negotiations and
the due diligence findings. Merrill Lynch rendered to the EB
board of directors its oral opinion, confirmed by delivery of a
written opinion dated April&nbsp;17, 2005, to the effect that,
as of that date and based on and subject to the assumptions
made, matters described and qualifications and limitations in
its written opinion, the merger consideration to be received in
the EB merger was fair, from a financial point of view, to
EB&#146;s stockholders other than GameStop, its affiliates and
the Kim Group. Peter&nbsp;J. Solomon Company rendered to the EB
board of directors its oral opinion, confirmed by delivery of a
written opinion dated April&nbsp;17, 2005, to the effect that,
as of that date and based on and subject to the assumptions
made, matters described and
</DIV>

<P align="center" style="font-size: 10pt;">40

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<DIV align="left" style="font-size: 10pt;">
qualifications and limitations in its written opinion, the
merger consideration proposed to be received by the holders of
EB common stock in the EB merger was fair, from a financial
point of view, to the holders of EB common stock, excluding the
Kim Group. Klehr Harrison reviewed with the board of directors
the final changes made to the merger agreement and other
transaction documents since the last board of directors meeting.
The board of directors authorized and directed EB&#146;s
management to execute and deliver to GameStop the final form of
the merger agreement and related transaction documents presented
to the board of directors at the meeting and resolved to
recommend the adoption of the merger agreement to EB&#146;s
stockholders. Following the meeting, executed counterpart
signature pages of the merger agreement and the Kim Group and
Riggio Group voting agreements were exchanged by the parties.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
On April&nbsp;18, 2005, prior to the opening of trading on the
NYSE and the NASDAQ National Market, GameStop and EB issued a
joint press release announcing the execution of the merger
agreement.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='173'></A>
</DIV>

<!-- link1 "GameStop&#146;s Reasons for the GameStop Merger; Recommendation of the GameStop Merger by the GameStop Board of Directors" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>GameStop&#146;s Reasons for the GameStop Merger;
Recommendation of the GameStop Merger by the GameStop Board of
Directors</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The GameStop board of directors believes that the merger
agreement and the transactions contemplated thereby, including
the GameStop merger, the amendment to GameStop&#146;s
certificate of incorporation to provide for the payment of the
GameStop merger consideration as contemplated by the merger
agreement and the amendment to the GameStop Amended and Restated
2001 Incentive Plan to provide for the issuance of Holdco
Class&nbsp;A common stock under the plan, are advisable and fair
to and in the best interests of GameStop and its stockholders.
Accordingly, the GameStop board of directors has approved the
merger proposal and recommends that the GameStop stockholders
vote&nbsp;FOR adoption of the merger proposal.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
As described above under &#147;Background of the Mergers,&#148;
the GameStop board of directors consulted with GameStop&#146;s
senior executive officers and GameStop&#146;s legal and
financial advisors in connection with its evaluation of the
merger agreement and the transactions contemplated thereby. In
reaching its decision, the GameStop board of directors
considered a variety of factors, including the following:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

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    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the transaction will create one of the leading video game
    retailers in the world, effectively doubling GameStop&#146;s
    size to over 4,000 stores with estimated pro forma combined
    sales of over $3.8&nbsp;billion in GameStop fiscal 2004,
    increasing the ability of Holdco to compete successfully in the
    highly competitive interactive entertainment industry on a
    global basis;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the transaction will significantly expand GameStop&#146;s
    international operations, a targeted growth area for GameStop,
    from 25 stores in Ireland and the United Kingdom generating less
    than 2% of GameStop&#146;s revenues as of January&nbsp;29, 2005
    to 545 stores in Australia, Canada, Denmark, Germany, Ireland,
    Italy, New Zealand, Norway, Sweden and the United Kingdom
    generating approximately 16% of Holdco&#146;s revenues on a pro
    forma basis as of January&nbsp;29, 2005, providing Holdco with a
    strong platform for further international growth;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    as an industry leader of substantial size, Holdco is expected to
    be well-positioned to capitalize on the new video game cycle
    anticipated to commence with the release in late 2005 and 2006
    of next generation video game systems and related software;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the cost savings and operating synergies expected to be realized
    by Holdco through consolidation and integration of certain
    functions as well as through the adoption of best practices from
    both GameStop and EB, which are estimated to exceed
    $30&nbsp;million in GameStop fiscal 2006 and $50&nbsp;million
    annually thereafter;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the anticipated significant accretive affect of the transaction
    on GameStop&#146;s earnings per share in the fiscal year ending
    February&nbsp;3, 2007 and thereafter;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the recent and historical information concerning GameStop&#146;s
    and EB&#146;s respective businesses, financial performance and
    stock trading prices;</TD>
</TR>

</TABLE>

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<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the similarity in operating strategies between GameStop and EB,
    which is expected to facilitate the combination of the two
    companies;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the results of the due diligence review of EB&#146;s business
    and operations conducted by GameStop&#146;s senior management
    and legal advisors;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the competitive pressures placed on GameStop&#146;s business by
    Wal-Mart, Best Buy, Target and other big-box retailers, by other
    specialty retailers expanding their video game businesses such
    as Blockbuster/Game Rush and Hollywood Video/Game Crazy, by
    internet sellers and renters of video games, and by the
    emergence of additional channels of video game distribution such
    as internet downloads and interactive on-demand television;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    GameStop&#146;s board of directors will constitute seven of the
    nine members of Holdco&#146;s board of directors and will
    control the business of the combined company;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    R. Richard Fontaine, GameStop&#146;s Chairman and Chief
    Executive Officer, and Daniel A. DeMatteo, GameStop&#146;s Vice
    Chairman and Chief Operating Officer, will be the Chairman and
    Chief Executive Officer and the Vice Chairman and Chief
    Operating Officer, respectively, of Holdco;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    in addition to Messrs.&nbsp;Fontaine and DeMatteo, Holdco will
    have available to it the combined management talent of GameStop
    and EB;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the agreement by James J. Kim to not compete with Holdco for
    three years following the mergers, and to not interfere with
    Holdco customers or suppliers or solicit Holdco employees for
    two years following the mergers;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    as then calculated EB&#146;s stockholders would receive only
    27.6% (5.7% by vote) of the outstanding common stock of Holdco,
    and the remaining 72.4% (94.3% by vote) of the outstanding
    common stock of Holdco would be received by GameStop&#146;s
    stockholders;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the limited and customary conditions to be met in connection
    with GameStop&#146;s financing commitments with its lenders to
    fund the cash portion of the EB merger consideration;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    because the limited conditions under which GameStop&#146;s
    lenders can terminate their financing commitments are
    substantially the same as those that would allow GameStop to
    terminate the merger agreement without GameStop&#146;s payment
    of a termination fee, it is not expected that GameStop will be
    obligated to consummate the merger agreement without sufficient
    lender financing commitments in place;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    because the stock portion of the EB merger consideration is a
    fixed number of Holdco shares, Holdco will not need to increase
    the amount of shares it issues to EB stockholders if the value
    of GameStop&#146;s common stock decreases after the date of the
    merger agreement;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the Holdco stock to be issued to GameStop stockholders in the
    GameStop merger is expected to be received tax-free by GameStop
    stockholders;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the terms of the merger agreement, including the
    representations, warranties and covenants of each of the parties
    and the conditions to their respective obligations, are believed
    to be reasonable and customary in transactions of this type;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the conditions required to be satisfied prior to completion of
    the mergers, such as the receipt of stockholder approval and
    antitrust clearance, are expected to be fulfilled and the
    corresponding likelihood that the mergers will be consummated;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>


<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the terms of the merger agreement provide that, under certain
    circumstances, and subject to certain conditions more fully
    described in the section entitled &#147;The Merger
    Agreement&nbsp;&#151; No Solicitations by GameStop of
    Alternative Transactions&#148; beginning on page&nbsp;87,
    GameStop is permitted to furnish information to and conduct
    negotiations with a third party in connection with an
    unsolicited proposal for a business combination or acquisition
    of GameStop and the GameStop board of</TD>
</TR>


</TABLE>

<P align="center" style="font-size: 10pt;">42

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<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD></TD>
    <TD align="left">
    directors can terminate the merger agreement for such a proposal
    or change its recommendation prior to the GameStop stockholder
    approval of the merger agreement in certain circumstances;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>


<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the limited circumstances in which the EB board of directors may
    terminate the merger agreement or change or modify its
    recommendation to its stockholders to approve the merger
    agreement, and that EB agreed to pay a termination fee of
    $40&nbsp;million to GameStop in the event that the EB board of
    directors terminates the merger agreement or changes or modifies
    its recommendation in certain circumstances, as described in the
    section entitled &#147;The Merger Agreement&nbsp;&#151;
    Termination Fees&#148; on page&nbsp;89;</TD>
</TR>


<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the fact that the Kim Group, holders of approximately 46.7% of
    the then outstanding shares of EB common stock, have entered
    into a voting agreement and irrevocable proxy pursuant to which
    they agreed to vote in favor of the adoption of the merger
    agreement at the EB stockholders&#146; meeting;&nbsp;and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    Citigroup&#146;s opinion, dated April&nbsp;17, 2005, to the
    GameStop board as to the fairness, from a financial point of
    view and as of the date of the opinion, to GameStop of the EB
    merger consideration, as more fully described below under the
    caption &#147;Opinion of GameStop&#146;s Financial Advisor.&#148;</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In addition to these factors, the GameStop board of directors
also considered the potential adverse impact of other factors
weighing negatively against the proposed transaction, including
the following:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    Holdco is expected to incur indebtedness of approximately
    $950&nbsp;million in connection with the mergers, which debt may
    adversely impact Holdco&#146;s results of operations following
    the mergers;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the risk that the mergers might not be completed, including the
    effect of the pendency of the mergers and such failure to be
    completed may have on:</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="5%"></TD>
    <TD width="1%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the trading price of GameStop&#146;s common stock;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    GameStop&#146;s operating results, including the expenses
    associated with the transaction;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    GameStop&#146;s ability to expand in Europe and other
    international markets;&nbsp;and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    GameStop&#146;s ability to make other acquisitions.</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the possibility of significant costs and delays resulting from
    seeking antitrust clearance necessary for completion of the
    mergers;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the possibility that the pendency of the mergers will result in
    loss of business, supplier relationships or key personnel at EB;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the challenges of combining the businesses, operations and
    workforces of GameStop and EB and realizing the anticipated cost
    savings and operating synergies;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the management time, effort and expense associated with the
    integration of the two companies, and the risk that such
    diversion will have an adverse effect on Holdco&#146;s business
    and results of operations;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the risks associated with substantially increasing
    GameStop&#146;s international operations, including those
    resulting from currency exchange rate fluctuations, economic
    downturns, international incidents or government instability;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    because the stock portion of the EB merger consideration is a
    fixed number of shares of Holdco Class&nbsp;A common stock, the
    consideration received by EB stockholders could be substantially
    more than GameStop intended to pay if the trading price of
    GameStop Class&nbsp;A common stock increases significantly after
    the date of execution of the merger agreement, and the merger
    agreement does not provide GameStop with a price-based
    termination right or other similar protection for GameStop or
    its stockholders;</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">43

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<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the possible effects on the long-term stock price and financial
    results of Holdco if the benefits and synergies expected of the
    mergers are not obtained or are obtained only in part or on a
    delayed basis;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>


<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the &#147;market overhang&#148; effect on Holdco&#146;s stock
    price created by the registration pursuant to the registration
    rights agreement of approximately 9.1&nbsp;million shares of
    Holdco Class&nbsp;A common stock owned by the Kim Group, as
    described in the section entitled &#147;Risk Factors&#148; on
    page&nbsp;18;</TD>
</TR>


<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>


<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the limitations on GameStop imposed in the merger agreement on
    certain activities as described in the section entitled
    &#147;The Merger Agreement&nbsp;&#151; Conduct of Business
    Pending the Mergers&#148; on page&nbsp;90, and on the
    solicitation by GameStop of alternative business combinations
    prior to the completion of the mergers;</TD>
</TR>


<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>


<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the requirement that GameStop must pay to EB a termination fee
    of $40&nbsp;million if the merger agreement is terminated under
    circumstances specified in the merger agreement, as described in
    the section entitled &#147;The Merger Agreement&nbsp;&#151;
    Termination Fees&#148; beginning on page&nbsp;89;</TD>
</TR>


<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    EB must obtain the approval of its stockholders in order to
    adopt the merger agreement;&nbsp;and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>


<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the risks described in the section entitled &#147;Risk
    Factors&#148; beginning on page&nbsp;18.</TD>
</TR>


</TABLE>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The GameStop board of directors also considered the interests
that certain executive officers and directors of GameStop have
with respect to the mergers, as described in the section
entitled &#147;Interests of Directors and Executive Officers in
the Mergers&#148; on page&nbsp;68.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The GameStop board of directors concluded that the positive
factors significantly outweighed the negative factors described
above. This discussion of the information and factors considered
by the GameStop board of directors includes material positive
and negative factors considered by the GameStop board of
directors, but it is not intended to be exhaustive and may not
include all of the factors considered by the GameStop board of
directors. In reaching its determination to approve and
recommend the merger agreement and the transactions contemplated
thereby, the GameStop board of directors did not quantify or
assign any relative or specific weights to the various factors
that it considered in reaching its determination that the merger
agreement and the transactions contemplated thereby are
advisable and fair to and in the best interests of GameStop and
its stockholders. Rather, the GameStop board of directors viewed
its recommendation as being based on the totality of the
information presented to it and all of the factors considered by
it. In addition, in considering the factors described above,
individual members of the GameStop board of directors may have
given different weights to different factors.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
After considering this information, the GameStop board of
directors approved the merger agreement and the transactions
contemplated thereby, and recommended that GameStop stockholders
adopt the merger agreement and the transactions contemplated
thereby, including the GameStop merger, the amendment to
GameStop&#146;s certificate of incorporation to provide for the
payment of the GameStop merger consideration as contemplated by
the merger agreement and the amendment to the GameStop Amended
and Restated 2001 Incentive Plan to provide for the issuance of
Holdco Class&nbsp;A common stock under the plan.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='174'></A>
</DIV>

<!-- link1 "EB&#146;s Reasons for the EB Merger; Recommendation of the EB Merger by the EB Board of Directors" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>EB&#146;s Reasons for the EB Merger; Recommendation of the EB
Merger by the EB Board of Directors</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The EB board of directors believes that the merger agreement and
the transactions contemplated thereby, including the EB merger,
are advisable and fair to and in the best interests of EB and
its stockholders. Accordingly, the EB board of directors has
approved the merger agreement and the transactions contemplated
thereby, and recommends that the EB stockholders vote&nbsp;FOR
adoption of the merger agreement and the transactions
contemplated thereby, including the EB merger.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
As described above under &#147;Background of the Mergers,&#148;
the EB board of directors, prior to and in reaching its decision
at its meeting on April&nbsp;17, 2005 to adopt the merger
agreement and the transactions
</DIV>

<P align="center" style="font-size: 10pt;">44

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<DIV align="left" style="font-size: 10pt;">
contemplated thereby, consulted with EB&#146;s senior executive
officers and EB&#146;s financial and legal advisors and
considered a variety of factors weighing positively in favor of
the EB merger, including the following:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the value to be received by holders of EB common stock in the EB
    merger, including the fact that, based on the closing price of
    EB&#146;s common stock and GameStop Class&nbsp;A common stock on
    April&nbsp;15, 2005 (the last trading day before the
    announcement of the signing of the merger agreement), the value
    of the EB merger consideration represented a premium of
    approximately 34.2% over the closing price of EB&#146;s common
    stock on April&nbsp;15, 2005 and 32.6% over the average closing
    price of EB&#146;s common stock for the 30 trading days ending
    April&nbsp;15, 2005;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the strategic nature of the transaction, which will combine
    EB&#146;s and GameStop&#146;s respective businesses to create
    one of the leading video game retailers in the world, with pro
    forma combined sales of over $3.8&nbsp;billion for the fiscal
    year ended January&nbsp;29, 2005, all of which should provide
    the combined company with the opportunity to become a stronger
    global competitor in the interactive entertainment industry;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the EB board of directors&#146; analysis and understanding of
    management&#146;s operating plans for EB in the context of the
    competitive conditions in the interactive entertainment industry
    given the competitive pressures on EB&#146;s business by
    Wal-Mart, Best Buy, Target and other big-box retailers, by other
    retailers expanding their video game businesses such as
    Blockbuster/Game Rush and Hollywood Video/Game Crazy, by the
    internet and other channels of video game distribution such as
    interactive on-demand television, and the EB board of
    directors&#146; analysis of the business, operations, financial
    performance, financial condition, earnings and prospects of EB
    on a stand-alone basis, together with the EB board of
    directors&#146; belief, based on its analysis and understanding,
    that Holdco, with its greater size and scale, would be better
    positioned to compete effectively in the interactive
    entertainment industry;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the fact that the initial approximately 70/30 split of cash and
    stock in the EB merger consideration affords EB stockholders
    both the opportunity to participate in the growth and
    opportunities of the combined company through the stock
    component of the EB merger consideration and to receive cash for
    the value of their shares through the cash component of the EB
    merger consideration;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    because the stock portion of the EB merger consideration is a
    fixed number of shares of Holdco Class&nbsp;A common stock, the
    opportunity for the EB stockholders to benefit from any increase
    in the trading price of GameStop Class&nbsp;A common stock
    between the announcement of the mergers and the completion of
    the mergers, as well as any increase in the trading price of
    Holdco Class&nbsp;A common stock after completion of the mergers;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the fact that there are limited conditions to be met in
    connection with GameStop obtaining financing to fund the cash
    portion of the EB merger consideration;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the fact that as then calculated EB stockholders as a group
    would own, on a fully-diluted basis, approximately 27.6% of the
    outstanding Holdco common stock immediately following the
    mergers;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the recent and historical information concerning EB&#146;s and
    GameStop&#146;s respective businesses and financial performance;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the results of the due diligence review of GameStop&#146;s
    business and operations conducted by EB&#146;s senior management
    and EB&#146;s legal advisors;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the EB board of directors&#146; understanding of the anticipated
    cost savings and operating synergies available to the combined
    company from the mergers, after consultation with EB&#146;s
    financial advisors, through consolidation and integration of
    certain functions and the adoption of best practices from both
    GameStop and EB across the combined company, which is expected
    to positively enhance the combined company&#146;s earnings and
    create value for stockholders;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the EB board of directors&#146; analysis of other strategic
    alternatives for EB, including continued growth as an
    independent company and the potential to acquire or combine with
    third parties;</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">45

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<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>


<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the expected qualification of the mergers as a transaction
    described in Section&nbsp;351 of the Code, resulting in the
    consideration to be received by the EB stockholders not being
    subject to federal income tax except to the extent of the lesser
    of the cash consideration received in, or the gain realized upon
    completion of, the EB merger, as described in the section
    entitled &#147;Material United States Federal Income Tax
    Consequences&#148; beginning on page&nbsp;72;</TD>
</TR>


<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the belief that the terms of the merger agreement, including the
    parties&#146; representations, warranties and covenants and the
    conditions to their respective obligations, are reasonable;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the fact that the conditions required to be satisfied prior to
    completion of the mergers, such as the receipt of stockholder
    approval and antitrust clearance, are expected to be fulfilled
    and the corresponding likelihood that the mergers will be
    consummated;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the fact that James J. Kim and one additional person chosen by
    EB&#146;s board of directors who is considered independent under
    the rules of the NYSE will be appointed to the Holdco board of
    directors, which is expected to provide a degree of continuity
    and involvement by EB in the combined company following the
    mergers;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>


<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the fact that the terms of the merger agreement provide that,
    under certain circumstances, and subject to certain conditions
    more fully described in the section entitled &#147;The Merger
    Agreement&nbsp;&#151; No Solicitations by EB of Alternative
    Transactions&#148; beginning on page&nbsp;85, EB is permitted to
    furnish information to and conduct negotiations with a third
    party in connection with an unsolicited proposal for a business
    combination or acquisition of EB that may reasonably be expected
    to lead to a company superior proposal and the EB board of
    directors can terminate the merger agreement for a company
    superior proposal or change its recommendation prior to
    stockholder approval of the merger agreement in certain
    circumstances;</TD>
</TR>


<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>


<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the fact that there are limited circumstances in which the
    GameStop board of directors may terminate the merger agreement
    or change or modify its recommendation to its stockholders to
    approve the merger agreement, and that GameStop agreed to pay a
    termination fee of $40&nbsp;million to EB in the event that the
    GameStop board of directors terminates the merger agreement or
    changes or modifies its recommendation in certain circumstances,
    as described in the section entitled &#147;The Merger
    Agreement&nbsp;&#151; Termination Fees&#148; on page&nbsp;89;</TD>
</TR>


<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>


<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the fact that the Riggio Group, holders of approximately 16.4%
    of the combined voting power as then calculated, have entered
    into a voting agreement and irrevocable proxy pursuant to which
    they agreed to vote their shares of GameStop common stock in
    favor of the adoption of the merger agreement at the GameStop
    annual meeting;</TD>
</TR>


<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>


<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    Merrill Lynch&#146;s opinion described in the section entitled
    &#147;Opinions of EB&#146;s Financial Advisors&#148; beginning
    on page&nbsp;55, including its analysis rendered orally on and
    confirmed in writing as of April&nbsp;17, 2005, to the effect
    that, as of the date of such opinion, and based on and subject
    to various assumptions made, matters considered, limitations and
    qualifications described in its written opinion, the
    consideration proposed to be received by holders of EB common
    stock (other than GameStop, its affiliates and the Kim Group) in
    the EB merger was fair from a financial point of view to such
    holders;&nbsp;and</TD>
</TR>


<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>


<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    Peter J. Solomon Company, L.P.&#146;s opinion described in the
    section entitled &#147;Opinions of EB&#146;s Financial
    Advisors&#148; beginning on page&nbsp;62, including its analysis
    rendered orally on and confirmed in writing as of April&nbsp;17,
    2005, to the effect that, as of the date of such opinion, and
    based on and subject to various assumptions made, matters
    considered, limitations and qualifications described in its
    written opinion, the consideration proposed to be received by
    holders of EB common stock in the EB merger was fair, from a
    financial point of view, to such holders, excluding the Kim
    Group.</TD>
</TR>


</TABLE>

<P align="center" style="font-size: 10pt;">46

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In addition to these factors, the EB board of directors also
considered the potential adverse impact of other factors
weighing negatively against the proposed transaction, including,
without limitation, the following:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

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    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the fact that Holdco will incur indebtedness of approximately
    $950&nbsp;million in connection with the mergers, which debt may
    adversely impact Holdco&#146;s operations following the mergers;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the risk that the mergers might not be completed, including the
    effect of the pendency of the mergers and such failure to be
    completed may have on:</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

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    <TD width="5%"></TD>
    <TD width="1%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the trading price of EB&#146;s common stock;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    EB&#146;s operating results, including the expenses associated
    with the transaction;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    EB&#146;s ability to expand in Europe and other international
    markets;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    EB&#146;s ability to attract and retain key personnel;&nbsp;and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    EB&#146;s ability to retain customers and maintain sales;</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

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<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the possibility of significant costs and delays resulting from
    seeking antitrust clearance necessary for completion of the
    proposed mergers;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    because the stock portion of the EB merger consideration is a
    fixed number of shares of Holdco Class&nbsp;A common stock, the
    EB stockholders could be adversely affected by a decrease in the
    trading price of GameStop Class&nbsp;A common stock after the
    date of execution of the merger agreement, and the merger
    agreement does not provide EB with a price-based termination
    right or other similar protection for EB or its stockholders;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    because the stock portion of the EB merger consideration is a
    fixed number of shares of Holdco Class&nbsp;A common stock, and
    not shares of Holdco Class&nbsp;B common stock which shall
    contain super voting rights similar to GameStop Class&nbsp;B
    common stock, the stock consideration to be received by
    EB&#146;s stockholders in the merger as then calculated would
    represent only 5.7% of the combined voting power of
    Holdco&#146;s common stock following the mergers;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the risk that the financial results and the stock price of the
    combined company might decline in the short-term;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the possible effects on the long-term stock price and financial
    results of the combined company if the benefits and synergies
    expected of the mergers are not obtained on a timely basis or at
    all;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the limitations imposed in the merger agreement on the
    solicitation by EB of alternative business combinations prior to
    the completion of the mergers;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>


<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the requirement that EB must pay to GameStop a termination fee
    of $40&nbsp;million if the merger agreement is terminated under
    circumstances specified in the merger agreement, as described in
    the section entitled &#147;The Merger Agreement-Termination
    Fees&#148; beginning on page&nbsp;89;</TD>
</TR>


<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the challenges of combining the businesses, operations and
    workforces of GameStop and EB and realizing the anticipated cost
    savings and operating synergies;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the fact that GameStop must obtain the approval of its
    stockholders, including a majority of its Class&nbsp;A common
    stock, in order to adopt the merger agreement;&nbsp;and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>


<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the risks described in the section entitled &#147;Risk
    Factors&#148; beginning on page&nbsp;18.</TD>
</TR>


</TABLE>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The EB board of directors also considered the interests that
certain executive officers and directors of EB have with respect
to the mergers, as described in the section entitled
&#147;Interests of Directors and Executive Officers in the
Mergers&#148; on page&nbsp;68.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The EB board of directors concluded that the positive factors
significantly outweighed the negative factors described above.
This discussion of the information and factors considered by the
EB board of
</DIV>

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<DIV align="left" style="font-size: 10pt;">
directors includes material positive and negative factors
considered by the EB board of directors, but it is not intended
to be exhaustive and may not include all of the factors
considered by the EB board of directors. In reaching its
determination to approve and recommend the merger agreement and
the transactions contemplated thereby, the EB board of directors
did not find it useful to and did not quantify or assign any
relative or specific weights to the various factors that it
considered in reaching its determination that the merger
agreement and the transactions contemplated thereby, are
advisable and fair to and in the best interests of EB and its
stockholders. Rather, the EB board of directors viewed its
position and recommendation as being based on an overall
analysis and on the totality of the information presented to and
factors considered by it. In addition, in considering the
factors described above, individual members of the EB board of
directors may have given different weights to different factors.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
After considering this information, the EB board of directors
approved the merger agreement and the transactions contemplated
thereby, and recommended that EB stockholders adopt the merger
agreement and the transactions contemplated thereby, including
the EB merger.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='175'></A>
</DIV>

<!-- link1 "Opinion of GameStop&#146;s Financial Advisor" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Opinion of GameStop&#146;s Financial Advisor</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
GameStop has retained Citigroup as GameStop&#146;s financial
advisor in connection with the mergers. In connection with this
engagement, GameStop requested that Citigroup evaluate the
fairness, from a financial point of view, to GameStop of the EB
merger consideration to be paid pursuant to the merger
agreement. On April&nbsp;17, 2005, at a meeting of the GameStop
board of directors held to evaluate the mergers, Citigroup
rendered to the GameStop board an oral opinion, which was
confirmed by delivery of a written opinion dated the same date,
to the effect that, as of that date and based on and subject to
the matters described in its opinion, the EB merger
consideration was fair, from a financial point of view, to
GameStop.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In arriving at its opinion, Citigroup:
</DIV>

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    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    reviewed the merger agreement;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    held discussions with senior officers, directors and other
    representatives and advisors of GameStop and senior officers and
    other representatives and advisors of EB concerning
    GameStop&#146;s and EB&#146;s businesses, operations and
    prospects;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    examined publicly available business and financial information
    relating to GameStop and EB;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    examined financial forecasts and other information and data
    relating to EB which were provided to or discussed with
    Citigroup by the managements of GameStop and EB, including
    adjustments to the forecasts and other information and data
    relating to EB prepared by GameStop&#146;s management;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    reviewed information prepared by GameStop&#146;s management
    relating to the potential strategic implications and operational
    benefits, including their amount, timing and achievability,
    anticipated by GameStop&#146;s management to result from the
    mergers;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    reviewed the financial terms of the mergers as described in the
    merger agreement in relation to, among other things, current and
    historical market prices of GameStop Class&nbsp;A common stock
    and EB common stock, and GameStop&#146;s and EB&#146;s
    historical and projected earnings and other operating data,
    capitalization and financial condition;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    considered, to the extent publicly available, the financial
    terms of other transactions which Citigroup considered relevant
    in evaluating the mergers;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    analyzed financial, stock market and other publicly available
    information relating to the businesses of other companies whose
    operations Citigroup considered relevant in evaluating those of
    GameStop and EB;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    reviewed the potential pro forma projected earnings per share of
    the combined company relative to the projected earnings per
    share of GameStop on a standalone basis based on financial
    forecasts</TD>
</TR>

</TABLE>

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    <TD>&nbsp;</TD>
    <TD></TD>
    <TD align="left">
    and other information and data provided to or discussed with
    Citigroup by the managements of GameStop and EB;&nbsp;and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    conducted other analyses and examinations and considered other
    financial, economic and market criteria as Citigroup deemed
    appropriate in arriving at its opinion.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In rendering its opinion, Citigroup assumed and relied, without
assuming any responsibility for independent verification, on the
accuracy and completeness of all financial and other information
and data publicly available or provided to or otherwise reviewed
by or discussed with it and on the assurances of the managements
of GameStop and EB that they were not aware of any relevant
information that was omitted or remained undisclosed to
Citigroup. With respect to financial forecasts and other
information and data provided to or otherwise reviewed by or
discussed with Citigroup, including adjustments to the forecasts
and other information and data relating to EB prepared by
GameStop&#146;s management and the potential strategic
implications and operational benefits anticipated by
GameStop&#146;s management to result from the mergers, Citigroup
was advised by the managements of GameStop and EB that the
forecasts and other information and data were reasonably
prepared on bases reflecting the best currently available
estimates and judgments of the managements of GameStop and EB as
to the future financial performance of GameStop and EB and the
potential strategic implications and operational benefits and
other matters covered by such forecasts and other information
and data. Citigroup assumed, with GameStop&#146;s consent, that
the financial results, including potential strategic
implications and operational benefits, reflected in the
forecasts and other information and data would be realized in
the amounts and at the times projected. Citigroup also assumed,
with GameStop&#146;s consent, that the mergers would be
consummated in accordance with its terms, without waiver,
modification or amendment of any material term, condition or
agreement and that, in the course of obtaining the necessary
regulatory or third party approvals, consents, releases and
waivers for the mergers, no delay, limitation, restriction or
condition would be imposed that would have an adverse effect on
GameStop, EB or Holdco or on the contemplated benefits of the
mergers. Citigroup further assumed, with GameStop&#146;s
consent, that each of the GameStop merger and the EB merger
would qualify for federal income tax purposes as a transaction
described in Section&nbsp;351 of the Code, as amended.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Citigroup did not express any opinion as to what the value of
Holdco common stock actually would be when issued pursuant to
the mergers or the prices at which Holdco common stock, GameStop
common stock or EB common stock would trade at any time.
Citigroup did not make, and was not provided with, an
independent evaluation or appraisal of the assets or
liabilities, contingent or otherwise, of GameStop, EB or Holdco,
and did not make any physical inspection of the properties or
assets of GameStop, EB or Holdco. Citigroup did not express any
view as to, and its opinion did not address, GameStop&#146;s
underlying business decision to effect the mergers, the relative
merits of the mergers as compared to any alternative business
strategies that might exist for GameStop or the effect of any
other transaction in which GameStop might engage.
Citigroup&#146;s opinion was necessarily based on information
available to Citigroup, and financial, stock market and other
conditions and circumstances existing and disclosed to
Citigroup, as of the date of its opinion. Except as described
above, GameStop imposed no other instructions or limitations on
Citigroup with respect to the investigations made or procedures
followed by Citigroup in rendering its opinion.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>The full text of Citigroup&#146;s written opinion, dated
April&nbsp;17, 2005, which describes the assumptions made,
procedures followed, matters considered and limitations on the
review undertaken, is attached to this joint proxy
statement-prospectus as <U>Annex&nbsp;G</U> and is incorporated
into this joint proxy statement-prospectus by reference.
Citigroup&#146;s opinion was provided to the GameStop board of
directors in connection with its evaluation of the EB merger
consideration and relates only to the fairness, from a financial
point of view, to GameStop of the EB merger consideration.
Citigroup&#146;s opinion does not address any other aspect of
the mergers and does not constitute a recommendation to any
stockholder as to how such stockholder should vote or act on any
matters relating to the proposed mergers.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In preparing its opinion, Citigroup performed a variety of
financial and comparative analyses, including those described
below. The summary of these analyses is not a complete
description of the analyses underlying Citigroup&#146;s opinion.
The preparation of a financial opinion is a complex analytical
</DIV>

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<DIV align="left" style="font-size: 10pt;">
process involving various determinations as to the most
appropriate and relevant methods of financial analysis and the
application of those methods to the particular circumstances
and, therefore, a financial opinion is not readily susceptible
to summary description. Citigroup arrived at its ultimate
opinion based on the results of all analyses undertaken by it
and assessed as a whole, and did not draw, in isolation,
conclusions from or with regard to any one factor or method of
analysis for purposes of its opinion. Accordingly, Citigroup
believes that its analyses must be considered as a whole and
that selecting portions of its analyses and factors or focusing
on information presented in tabular format, without considering
all analyses and factors or the narrative description of the
analyses, could create a misleading or incomplete view of the
processes underlying its analyses and opinion.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In its analyses, Citigroup considered industry performance,
general business, economic, market and financial conditions and
other matters existing as of the date of its opinion, many of
which are beyond the control of GameStop and EB. No company,
business or transaction used in those analyses as a comparison
is identical to GameStop, EB or the mergers, and an evaluation
of those analyses is not entirely mathematical. Rather, the
analyses involve complex considerations and judgments concerning
financial and operating characteristics and other factors that
could affect the acquisition, public trading or other values of
the companies, business segments or transactions analyzed.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The estimates contained in Citigroup&#146;s analyses and the
valuation ranges resulting from any particular analysis are not
necessarily indicative of actual values or predictive of future
results or values, which may be significantly more or less
favorable than those suggested by its analyses. In addition,
analyses relating to the value of businesses or securities do
not necessarily purport to be appraisals or to reflect the
prices at which businesses or securities actually may be sold.
Accordingly, the estimates used in, and the results derived
from, Citigroup&#146;s analyses are inherently subject to
substantial uncertainty.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The type and amount of consideration payable in the EB merger
was determined through negotiation between GameStop and EB and
the decision to enter into the mergers was solely that of
GameStop&#146;s board of directors. Citigroup&#146;s opinion was
only one of many factors considered by the GameStop board of
directors in its evaluation of the mergers and should not be
viewed as determinative of the views of the GameStop board of
directors or management with respect to the mergers or the
consideration payable in the mergers.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The following is a summary of the material financial analyses
presented to the GameStop board of directors in connection with
Citigroup&#146;s opinion. <B>The financial analyses summarized
below include information presented in tabular format. In order
to fully understand Citigroup&#146;s financial analyses, the
tables must be read together with the text of each summary. The
tables alone do not constitute a complete description of the
financial analyses. Considering the data below without
considering the full narrative description of the financial
analyses, including the methodologies and assumptions underlying
the analyses, could create a misleading or incomplete view of
Citigroup&#146;s financial analyses.</B> For purposes of the
following summary of Citigroup&#146;s financial analyses, the
term &#147;implied per share value of the EB merger
consideration&#148; refers to the implied aggregate value of the
cash consideration payable in the EB merger of $38.15&nbsp;per
share and the stock consideration issuable in the EB merger
based on the exchange ratio provided for in the EB merger of
0.78795 and the per share closing price of GameStop Class&nbsp;A
common stock on April&nbsp;14, 2005 of $20.91.
</DIV>

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I>EB Analyses</I></B></TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <I>Selected Companies Analysis</I></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Citigroup reviewed financial and stock market information of EB,
GameStop and the following twelve selected publicly held
companies in the specialty retailing industry:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    Advance Auto Parts, Inc.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    Barnes&nbsp;&#38; Noble, Inc.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    Bed Bath&nbsp;&#38; Beyond Inc.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">50

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    Best Buy Co., Inc.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    Blockbuster Inc.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    Borders Group, Inc.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    The Home Depot, Inc.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    Linens&#146; N Things, Inc.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    Lowe&#146;s Companies, Inc.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    Office Depot, Inc.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    PETCO Animal Supplies, Inc.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    Staples, Inc.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Citigroup reviewed, among other things, closing stock prices as
a multiple of calendar years 2005 and 2006 estimated earnings
per share (EPS). Citigroup then applied a range of selected
multiples of calendar years 2005 and 2006 estimated EPS derived
from GameStop and the selected companies to EB&#146;s estimated
EPS for the fiscal years ending January&nbsp;28, 2006 (EB fiscal
2006) and February&nbsp;3, 2007 (EB fiscal 2007). Multiples for
GameStop and the selected companies were based on closing stock
prices as of April&nbsp;14, 2005 and estimated financial data of
research analysts as compiled by First Call Corporation (a
financial research company), commonly referred to as First Call
estimates. Estimated financial data for EB were based on
internal estimates of EB&#146;s management as adjusted by
GameStop&#146;s management. This analysis indicated the
following implied per share equity reference ranges for EB, as
compared to the implied per share value of the EB merger
consideration:
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; margin-top: 6pt; ">

<TR style="font-size: 1pt;">
    <TD width="16%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="14%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="16%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>


<TR style="font-size: 8pt;">
    <TD colspan="6" align="center" nowrap><B>Implied per Share</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Implied per Share</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD colspan="6" align="center" nowrap><B>Equity Reference</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Value of EB</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD colspan="6" align="center" nowrap><B>Range for EB</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Merger Consideration</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="6" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD colspan="2" align="center" nowrap><B>EB Fiscal 2006</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>EB Fiscal 2007</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">$</TD>
    <TD align="right" valign="top" nowrap>43.73 - $48.87</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>47.98 - $54.38</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>54.63</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>
</CENTER>

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <I>Precedent Transactions Analysis</I></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Citigroup reviewed the transaction value multiples paid in the
following 36 selected transactions in the specialty retailing
industry announced since October 1998:
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 9pt; margin-top: 6pt; ">

<TR style="font-size: 1pt;">
    <TD width="14%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="42%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="38%">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD align="center" nowrap><B>Date Announced</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap><B>Acquiror</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap><B>Target</B></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    March 2005</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;Kohlberg Kravis Roberts&nbsp;&#38; Co., Bain Capital
    Partners LLC, Vornado Realty Trust</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;Toys &#147;R&#148; Us, Inc.</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    January 2005</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;Saunders Karp&nbsp;&#38; Megrue</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;Bob&#146;s Discount Furniture, Inc.</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    December 2004</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;Oak Hill Capital Partners, L.P.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;Duane Reade Inc.</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    November 2004</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;The Dress Barn, Inc.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;Maurices Incorporated</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    November 2004</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;Bain Capital Partners, LLC</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;S. Rossy Inc. and Dollar A.M.A. Inc. (Dollarama
    business)</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    November 2004</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;Jones Apparel Group, Inc.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;Barneys New York, Inc.</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    October 2004</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;The Children&#146;s Place Retail Stores, Inc.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;The Disney Store North America</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    September 2004</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;Management-led Investor Group</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;Eastern Mountain Sports, Inc.</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    July 2004</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;Cerberus Capital Management, L.P., Sun Capital
    Partners, Inc. and Lubert-Adler and Klaff Partners, L.P.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;Target Corporation (Mervyn&#146;s business unit)</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    July 2004</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;Bridgepoint Capital Limited</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;Pets at Home Limited</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    June 2004</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;Dick&#146;s Sporting Goods, Inc.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;Galyan&#146;s Trading Company, Inc.</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    May 2004</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;Castle Harlan, Inc.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;Caribbean Restaurants LLC</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    April 2004</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;Crescent Capital Investments, Inc.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;Loehmann&#146;s Holdings Inc.</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    April 2004</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;Wasserstein&nbsp;&#38; Co., L.P.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;Bear Creek Corporation</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    April 2004</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;Weston Presidio</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;Nebraska Book Company, Inc.</TD>
</TR>

</TABLE>
</CENTER>

<P align="center" style="font-size: 10pt;">51

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 9pt; ">

<TR style="font-size: 1pt;">
    <TD width="14%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="44%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="36%">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD align="center" nowrap><B>Date Announced</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap><B>Acquiror</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap><B>Target</B></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    February 2004</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;Genesco Inc.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;Hat World Corporation</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    January 2004</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;Sun Capital Partners, Inc.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;Anchor Blue</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    November 2003</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;CVC Capital Partners Ltd., Texas Pacific Group</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;Debenhams PLC</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    October 2003</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;Apollo Management, L.P.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;General Nutrition Companies, Inc.</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    September 2003</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;TBC Corporation</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;National Tire&nbsp;&#38; Battery</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    July 2003</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;Boise Cascade Corporation</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;OfficeMax, Inc.</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    June 2003</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;Bed Bath&nbsp;&#38; Beyond Inc.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;Christmas Tree Shops, Inc.</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    June 2003</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;Dollar Tree Stores, Inc.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;Greenbacks, Inc.</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    February 2003</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;Gart Sports Company</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;The Sports Authority, Inc.</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    May 2002</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;The Blackstone Group LP</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;The Columbia House Company</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    August 2001</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;Best Buy Co., Inc.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;Future Shop, Ltd.</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    August 2001</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;Advance Auto Parts, Inc.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;Discount Auto Parts, Inc.</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    June 2001</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;Tweeter Home Entertainment Group, Inc.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;Sound Advice, Inc.</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    February 2001</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;Luxottica Group S.p.A.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;Sunglass&nbsp;Hut International, Inc.</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    December 2000</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;Best Buy Co., Inc.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;Musicland Stores Corporation</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    August 2000</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;Zale Corporation</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;Piercing Pagoda, Inc.</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    May 2000</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;Barnes&nbsp;&#38; Noble, Inc. (Babbage&#146;s Etc.
    LLC)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;Funco, Inc.</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    May 2000</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;Leonard Green&nbsp;&#38; Partners, L.P., Texas
    Pacific Group</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;PETCO Animal Supplies, Inc.</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    November 1999</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;Three Cities Research, Inc.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;Garden Ridge Corporation</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    October 1999</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;Barnes&nbsp;&#38; Noble, Inc.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;Babbage&#146;s Etc. LLC</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    October 1998</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;Trans World Entertainment Corporation</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &#149;&nbsp;Camelot Music Holdings, Inc.</TD>
</TR>

</TABLE>
</CENTER>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Citigroup reviewed enterprise values in the selected
transactions, calculated as the equity value implied for the
target company based on the consideration payable in the
selected transaction, plus net debt, minority interests and
preferred stock, less investments in unconsolidated affiliates,
as a multiple of latest twelve months estimated earnings before
interest, taxes, depreciation and amortization (EBITDA).
Citigroup then applied a range of selected latest twelve months
EBITDA multiples derived from the selected transactions to EB
fiscal 2006 estimated EBITDA, with particular focus on the Bain
Capital Partners, LLC/ Dollarama L.P., Weston Presidio/ Nebraska
Book Company, Inc., and Dick&#146;s Sporting Goods, Inc./
Galyans Trading Company, Inc. transactions given that they were
recent transactions involving target companies generally with
growth characteristics similar to those of EB. Multiples for the
selected transactions were based on publicly available financial
information at the time of announcement of the relevant
transaction. Estimated financial data for EB were based on
internal estimates of EB&#146;s management as adjusted by
GameStop&#146;s management. This analysis indicated the
following implied per share equity reference range for EB, as
compared to the implied per share value of the EB merger
consideration:
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; margin-top: 6pt; ">

<TR style="font-size: 1pt;">
    <TD width="47%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="25%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="24%">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD align="center" nowrap><B>Implied per Share</B></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Implied per Share</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD align="center" nowrap><B>Equity Reference</B></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Value of EB</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD align="center" nowrap><B>Range for EB</B></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Merger Consideration</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    $50.97 - $61.98</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>54.63</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>
</CENTER>

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <I>Discounted Cash Flow Analysis</I></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Citigroup performed a discounted cash flow analysis of EB to
calculate the estimated present value of the standalone
unlevered, after-tax free cash flows that EB could generate over
EB fiscal 2007 through the fiscal year ending January&nbsp;30,
2010 (EB fiscal 2010). Estimated financial data for EB were
based on internal estimates of EB&#146;s management as adjusted
by GameStop&#146;s management. Citigroup calculated a range of
estimated terminal values by applying a range of EBITDA terminal
value multiples of 7.0x to 8.0x to EB fiscal 2010 estimated
EBITDA. The present value of the cash flows and terminal values
were calculated using discount rates ranging from 10.5% to
11.5%. This analysis indicated the following implied
</DIV>

<P align="center" style="font-size: 10pt;">52

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV align="left" style="font-size: 10pt;">
per share equity reference range for EB, as compared to the
implied per share value of the EB merger consideration:
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; margin-top: 6pt; ">

<TR style="font-size: 1pt;">
    <TD width="47%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="25%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="24%">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD align="center" nowrap><B>Implied per Share</B></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Implied per Share</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD align="center" nowrap><B>Equity Reference</B></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Value of EB</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD align="center" nowrap><B>Range for EB</B></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Merger Consideration</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    $90.04 - $103.43</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>54.63</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>
</CENTER>

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I>GameStop Trading Multiples Analysis</I></B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Citigroup reviewed closing stock prices of GameStop, EB and the
publicly held companies in the specialty retailers industry
referred to above under &#147;EB Analyses&nbsp;&#151; Selected
Companies Analysis&#148; as a multiple of calendar years 2005
and 2006 estimated EPS and also reviewed price-to-earnings
ratios of GameStop, EB and the selected companies as a multiple
of estimated long-term earnings growth rates for calendar years
2005 and 2006. Citigroup reviewed enterprise values, calculated
as the equity value implied by the closing stock price, plus net
debt, minority interests and preferred stock, less investments
in unconsolidated affiliates, as a multiple of latest twelve
months EBITDA and calendar year 2005 estimated EBITDA. Citigroup
then compared the multiples derived for the selected companies
and EB with corresponding multiples implied for GameStop based
on the weighted average closing price of GameStop Class&nbsp;A
common stock and GameStop Class&nbsp;B common stock on
April&nbsp;14, 2005. Multiples were based on First Call
estimates and closing stock prices as of April&nbsp;14, 2005.
This analysis indicated the following implied high, low, mean
and median multiples for the selected companies and EB, as
compared to corresponding multiples implied for GameStop based
on the weighted average closing price of GameStop Class&nbsp;A
common stock and GameStop Class&nbsp;B common stock on
April&nbsp;14, 2005:
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 9pt; margin-top: 6pt; ">

<TR style="font-size: 1pt;">
    <TD width="3%">&nbsp;</TD>
    <TD width="42%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="15">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Implied</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Implied</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="14" align="center" nowrap><B>Implied Multiples for</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Multiples</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Multiples</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="14" align="center" nowrap><B>Selected Companies</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>for EB</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>for GameStop</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="14" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>High</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Low</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Mean</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Median</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Closing Stock Price as Multiple of:</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    EPS</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Calendar year 2005</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>29.7</TD>
    <TD align="left" valign="bottom" nowrap>x</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>14.0</TD>
    <TD align="left" valign="bottom" nowrap>x</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>18.0</TD>
    <TD align="left" valign="bottom" nowrap>x</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>16.6</TD>
    <TD align="left" valign="bottom" nowrap>x</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>17.1</TD>
    <TD align="left" valign="bottom" nowrap>x</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>15.1x</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Calendar year 2006</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>18.3</TD>
    <TD align="left" valign="bottom" nowrap>x</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>12.5</TD>
    <TD align="left" valign="bottom" nowrap>x</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>14.6</TD>
    <TD align="left" valign="bottom" nowrap>x</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>14.2</TD>
    <TD align="left" valign="bottom" nowrap>x</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>14.8</TD>
    <TD align="left" valign="bottom" nowrap>x</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>12.9x</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Price-to-Earnings Ratio as Multiple of:</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Long-Term Earnings Growth Rate</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Calendar year 2005</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1.9</TD>
    <TD align="left" valign="bottom" nowrap>x</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0.9</TD>
    <TD align="left" valign="bottom" nowrap>x</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1.2</TD>
    <TD align="left" valign="bottom" nowrap>x</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1.1</TD>
    <TD align="left" valign="bottom" nowrap>x</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1.0</TD>
    <TD align="left" valign="bottom" nowrap>x</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0.9x</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Calendar year 2006</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1.3</TD>
    <TD align="left" valign="bottom" nowrap>x</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0.8</TD>
    <TD align="left" valign="bottom" nowrap>x</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1.0</TD>
    <TD align="left" valign="bottom" nowrap>x</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1.0</TD>
    <TD align="left" valign="bottom" nowrap>x</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0.9</TD>
    <TD align="left" valign="bottom" nowrap>x</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0.8x</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Enterprise Value as Multiple of:</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    EBITDA</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Latest twelve months</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>12.3</TD>
    <TD align="left" valign="bottom" nowrap>x</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>5.4</TD>
    <TD align="left" valign="bottom" nowrap>x</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>8.4</TD>
    <TD align="left" valign="bottom" nowrap>x</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>8.5</TD>
    <TD align="left" valign="bottom" nowrap>x</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>7.5</TD>
    <TD align="left" valign="bottom" nowrap>x</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>7.6x</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Calendar year 2005</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>11.3</TD>
    <TD align="left" valign="bottom" nowrap>x</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>5.3</TD>
    <TD align="left" valign="bottom" nowrap>x</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>7.6</TD>
    <TD align="left" valign="bottom" nowrap>x</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>7.5</TD>
    <TD align="left" valign="bottom" nowrap>x</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>6.4</TD>
    <TD align="left" valign="bottom" nowrap>x</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>6.3x</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>
</CENTER>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Citigroup also reviewed historical closing prices of GameStop
Class&nbsp;A common stock from April&nbsp;15, 2002 to
April&nbsp;14, 2005 as a multiple of GameStop&#146;s forward
twelve months estimated EPS based on First Call estimates.
Citigroup noted that the average forward twelve months estimated
EPS multiple for GameStop over the one-year and three-year
periods ended April&nbsp;14, 2005 was 15.0x and 16.0x,
respectively, as compared to the forward twelve months estimated
EPS multiple for GameStop based on the closing price of GameStop
Class&nbsp;A common stock on April&nbsp;14, 2005 of 15.1x.
</DIV>

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I>Pro Forma Accretion/ Dilution Analysis</I></B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Citigroup analyzed the potential pro forma effect of the mergers
on the combined company&#146;s estimated EPS for the fiscal
years ending January&nbsp;28, 2006 through January&nbsp;30,
2010, after giving effect to potential synergies anticipated by
GameStop&#146;s management to result from the mergers, relative
to GameStop&#146;s estimated EPS during such period on a
standalone basis. Estimated financial data for
</DIV>

<P align="center" style="font-size: 10pt;">53

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<DIV align="left" style="font-size: 10pt;">
GameStop were based on internal estimates of the management of
GameStop. Estimated financial data for EB were based on internal
estimates of EB&#146;s management as adjusted by GameStop&#146;s
management. This analysis suggested that the mergers could be
accretive to the combined company&#146;s estimated EPS relative
to GameStop&#146;s estimated EPS on a standalone basis in each
of the periods observed. The actual results achieved by the
combined company may vary from projected results and the
variations may be material.
</DIV>

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

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<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I>Other Factors</I></B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In rendering its opinion, Citigroup also reviewed and considered
other factors, including:
</DIV>

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<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the relationship between movements in GameStop common stock and
    EB common stock;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the implied per share values of the EB merger consideration
    based on illustrative closing prices of GameStop Class&nbsp;A
    common stock at 10% levels above and below the closing price of
    GameStop Class&nbsp;A common stock on April&nbsp;14, 2005;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the premiums implied for EB based on the EB merger consideration
    relative to the closing price of EB common stock on
    April&nbsp;14, 2005 and on the average closing price for EB
    common stock over the 20-day period ended April&nbsp;14,
    2005;&nbsp;and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the premiums implied for EB based on selected implied
    transaction multiples for EB relative to corresponding trading
    multiples for GameStop based on the weighted average closing
    price of GameStop Class&nbsp;A common stock and GameStop
    Class&nbsp;B common stock on April&nbsp;14, 2005.</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

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<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I>Miscellaneous</I></B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Under the terms of Citigroup&#146;s engagement, GameStop has
agreed to pay Citigroup for its financial advisory services in
connection with the mergers an aggregate fee of between
$7&nbsp;million and $8&nbsp;million. GameStop also has agreed to
reimburse Citigroup for expenses incurred by Citigroup in
performing its services, including reasonable fees and expenses
of its legal counsel, and to indemnify Citigroup and related
persons against liabilities, including liabilities under the
federal securities laws, arising out of its engagement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In the ordinary course of business, Citigroup and its affiliates
may actively trade or hold the securities of GameStop and EB for
their own account or for the account of customers and,
accordingly, may at any time hold a long or short position in
those securities. Citigroup and its affiliates in the past have
provided, and currently are providing, services to GameStop and
its affiliates unrelated to the mergers, for which services
Citigroup and its affiliates have received, and expect to
receive, compensation, including having acted as GameStop&#146;s
financial advisor in 2004 in connection with GameStop&#146;s
repurchase of a portion of the shares of GameStop Class&nbsp;B
common stock held by Barnes&nbsp;&#38; Noble, an affiliate of
Leonard Riggio, who is a director and stockholder of GameStop,
and the subsequent distribution of the remaining shares of
GameStop Class&nbsp;B common stock held by Barnes&nbsp;&#38;
Noble to its stockholders, and having acted as financial advisor
to Barnes&nbsp;&#38; Noble in 2004 in connection with its
acquisition of barnesandnoble.com inc. Citigroup and its
affiliates also in the past have provided services to EB and its
affiliates unrelated to the mergers, for which services
Citigroup and its affiliates have received compensation,
including having acted as lead manager in 2003 and 2004 for
equity and debt securities financings, and as sole bookrunner in
2003 for an equity securities financing, of affiliates of James
Kim, who is Chairman of the Board of EB. An affiliate of
Citigroup also will be acting as administrative agent and will
be a lender under, and Citigroup will be acting as lead
bookrunner for, bank and debt or equity securities financings
contemplated to be undertaken by GameStop in connection with the
mergers, for which services Citigroup and its affiliates expect
to receive compensation. In addition, Citigroup and its
affiliates, including Citigroup Inc. and its affiliates, may
maintain relationships with GameStop, EB and their respective
affiliates.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
GameStop selected Citigroup as its financial advisor in
connection with the mergers based on Citigroup&#146;s
reputation, experience and familiarity with GameStop, EB and
their respective businesses. Citigroup is an internationally
recognized investment banking firm which regularly engages in
the valuation of businesses and their securities in connection
with mergers and acquisitions, negotiated underwritings,
</DIV>

<P align="center" style="font-size: 10pt;">54

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<DIV align="left" style="font-size: 10pt;">
competitive bids, secondary distributions of listed and unlisted
securities, private placements and valuations for estate,
corporate and other purposes.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='176'></A>
</DIV>

<!-- link1 "Opinions of EB&#146;s Financial Advisors" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Opinions of EB&#146;s Financial Advisors</B>
</DIV>

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    <TD></TD>
    <TD>
    <B><I>Merrill Lynch, Pierce, Fenner&nbsp;&#38; Smith
    Incorporated</I></B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
EB engaged Merrill Lynch to act as its financial advisor in
connection with the proposed mergers, and to render an opinion
as to whether the consideration to be received pursuant to the
EB merger is fair from a financial point of view to the holders
of the common stock of EB (other than GameStop, its affiliates
and the Kim Group) (the Public Holders).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
On April&nbsp;17, 2005, Merrill Lynch delivered its oral opinion
to the board of directors of EB, subsequently confirmed in
writing as of the same date, that, as of that date, and based
upon and subject to the assumptions made, matters considered,
and qualifications and limitations set forth, in the written
opinion (which are described below), the consideration of
(i)&nbsp;$38.15 in cash and (ii)&nbsp;0.78795&nbsp;shares of
Holdco Class&nbsp;A common stock to be received per share of the
EB common stock pursuant to the EB merger was fair, from a
financial point of view, to the Public Holders.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>The full text of the written opinion of Merrill Lynch, which
sets forth the assumptions made, matters considered, and
qualifications and limits on the scope of review undertaken by
Merrill Lynch, is attached to this joint proxy
statement-prospectus as <U>Annex&nbsp;H</U> and is incorporated
into this joint proxy statement-prospectus by reference. The
following summary of the material provisions of Merrill
Lynch&#146;s opinion is qualified by reference to the full text
of the opinion. Stockholders are urged to read and consider the
entire opinion carefully.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The opinion is addressed to EB&#146;s board of directors and
addresses only the fairness, from a financial point of view, of
the consideration to be received by the Public Holders pursuant
to the EB merger, as of the date of the opinion. The opinion
does not address the merits of the underlying decision by EB to
engage in the EB merger and does not constitute, nor should it
be construed as, a recommendation to any stockholder as to how
the stockholder should vote with respect to the EB merger or any
related matter. Merrill Lynch was not asked to address, and its
opinion did not address, the fairness to, or any other
consideration of, the holders of any class of securities,
creditors or other constituencies of EB, other than the Public
Holders. Although Merrill Lynch provided advice to EB during
negotiations among the parties, the consideration to be received
by the Public Holders was determined by GameStop and EB and was
approved by EB&#146;s board of directors. Merrill Lynch did not
determine or recommend the amount of consideration to be paid in
the transaction. In addition, as described above, Merrill
Lynch&#146;s fairness opinion was among several factors taken
into consideration by EB&#146;s board of directors in making its
determination to approve the merger agreement and the EB merger.
Consequently, Merrill Lynch&#146;s analyses described below
should not be viewed as determinative of the decision of
EB&#146;s board of directors to approve the merger agreement or
to recommend the EB merger to EB&#146;s stockholders.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In arriving at its opinion, Merrill Lynch, among other things:
</DIV>

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<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    Reviewed certain publicly available business and financial
    information relating to GameStop and EB that Merrill Lynch
    deemed to be relevant;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    Reviewed certain information, including financial forecasts,
    relating to the business, earnings, cash flow, assets,
    liabilities and prospects of GameStop and EB, as well as the
    amount and timing of the cost savings and related expenses and
    synergies (the Expected Synergies) expected to result from the
    mergers, and furnished to Merrill Lynch by each of GameStop and
    EB;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    Conducted discussions with members of senior management of
    GameStop and EB concerning the matters described in the first
    and second clauses above, as well as their respective businesses
    and prospects before and after giving effect to the mergers and
    the Expected Synergies;</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">55

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<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    Reviewed the market prices and valuation multiples for EB&#146;s
    common stock and GameStop&#146;s common stock and compared them
    with those of certain publicly traded companies that Merrill
    Lynch deemed to be relevant;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    Reviewed the results of operations of GameStop and EB and
    compared them with those of certain publicly traded companies
    that Merrill Lynch deemed to be relevant;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    Compared the proposed financial terms of the mergers with the
    financial terms of certain other transactions that Merrill Lynch
    deemed to be relevant;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    Participated in certain discussions and negotiations among
    representatives of GameStop and EB and their financial and legal
    advisors;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    Reviewed the potential pro forma impact of the mergers;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    Reviewed an April&nbsp;17, 2005 draft of the merger agreement;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    Reviewed an April&nbsp;17, 2005 draft of the Kim Group voting
    agreement;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    Reviewed an April&nbsp;16, 2005 draft of the Riggio Group voting
    agreement;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    Reviewed an April&nbsp;17, 2005 form of the registration rights
    agreement;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    Reviewed an April&nbsp;16, 2005 form of the non-competition
    agreement;&nbsp;and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    Reviewed such other financial studies and analyses and took into
    account such other matters as Merrill Lynch deemed necessary,
    including Merrill Lynch&#146;s assessment of general economic,
    market and monetary conditions.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In preparing its opinion, Merrill Lynch assumed and relied on
the accuracy and completeness of all information supplied or
otherwise made available to it, discussed with or reviewed by or
for it, or publicly available. Merrill Lynch did not assume any
responsibility for independently verifying such information or
undertake any independent evaluation or appraisal of any of the
assets or liabilities of GameStop or EB, was not furnished with
any such evaluation or appraisal, and did not evaluate the
solvency or fair value of GameStop or EB under any state or
federal laws relating to bankruptcy, insolvency or similar
matters. In addition, Merrill Lynch did not assume any
obligation to conduct any physical inspection of the properties
or facilities of GameStop or EB. With respect to the financial
forecast information and the Expected Synergies furnished to or
discussed with Merrill Lynch by GameStop or EB, Merrill Lynch
assumed that such information had been reasonably prepared and
reflected the best currently available estimates and judgment of
EB&#146;s or GameStop&#146;s management as to the expected
future financial performance of GameStop or EB, as the case may
be, and the Expected Synergies. Merrill Lynch further assumed
that the exchange of GameStop Class&nbsp;A common stock,
GameStop Class&nbsp;B common stock and EB common stock for
Holdco Class&nbsp;A common stock and Holdco Class&nbsp;B common
stock, as applicable, pursuant to the mergers, taken together,
shall qualify as a transaction described in Section&nbsp;351 of
the Code. Merrill Lynch also assumed that the final forms of the
merger agreement, the Kim Group voting agreement, the Riggio
Group voting agreement, the registration rights agreement and
the non-competition agreement would be substantially similar to
the last drafts reviewed by it.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The opinion of Merrill Lynch is necessarily based upon market,
economic and other conditions as they existed and could be
evaluated on, and on the information made available to Merrill
Lynch as of, the date of its opinion. Merrill Lynch assumed that
in the course of obtaining the necessary regulatory or other
consents or approvals (contractual or otherwise) for the
mergers, no restrictions, including any divestiture requirements
or amendments or modifications, will be imposed that will have a
material adverse effect on the contemplated benefits of the
mergers.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In connection with the preparation of its opinion, Merrill Lynch
was not authorized by EB or EB&#146;s board of directors to
solicit, nor did it solicit, third-party indications of interest
for the acquisition of all or any part of EB.
</DIV>

<P align="center" style="font-size: 10pt;">56

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
At the board of directors meeting of EB held on April&nbsp;17,
2005, Merrill Lynch presented certain financial and comparative
analyses accompanied by written materials in connection with the
delivery of its opinion. The following is a summary of the
material financial and comparative analyses performed by Merrill
Lynch in arriving at its opinion. However, it does not purport
to be a complete description of the analyses performed by
Merrill Lynch or of its presentations to EB&#146;s board of
directors. Some of the summaries of financial analyses include
information presented in tabular format. In order to understand
fully the financial analyses performed by Merrill Lynch, the
tables must be read together with the accompanying text of each
summary. The tables alone do not constitute a complete
description of the financial and comparative analyses, including
the methodologies and assumptions underlying the analyses, and
if viewed in isolation could create a misleading or incomplete
view of the financial and comparative analyses performed by
Merrill Lynch.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Management Case and Street Case.</I> For purposes of the
analyses discussed below, Merrill Lynch used a set of
projections provided by EB management (the management case). For
the street case, Merrill Lynch used available Wall Street
research estimates which assumed lower sales growth and lower
operating margins than in the management case.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Merger Consideration.</I> Merrill Lynch&#146;s analysis is
based on share price information as of April&nbsp;14, 2005. As
of April&nbsp;14, 2005 the implied merger consideration was
$54.63, calculated based on (i)&nbsp;$38.15 in cash per share
plus (ii)&nbsp;0.78795&nbsp;shares multiplied by the GameStop
Class&nbsp;A common stock closing share price of $20.91 as of
April&nbsp;14, 2005 (the $54.63&nbsp;per share merger
consideration). The closing share price of GameStop Class&nbsp;A
common stock on April&nbsp;15, 2005 (the last trading day prior
to the April&nbsp;17, 2005 meeting of EB&#146;s board of
directors) was $21.61, which implies a per share merger
consideration of $55.18.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Historical Share Price Performance.</I> Merrill Lynch
reviewed the historical performance of EB&#146;s common stock
based on a historical analysis of trading prices for the three
years ending April&nbsp;14, 2005. The following table reflects
the implied premium that the $54.63&nbsp;per share merger
consideration represents to the various closing prices and
average closing prices at various points in time prior to the
public announcement of GameStop&#146;s merger proposal:
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; margin-top: 6pt; ">

<TR style="font-size: 1pt;">
    <TD width="69%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Price</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Implied Premium</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    April&nbsp;14, 2005</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>40.86</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>33.7</TD>
    <TD align="left" valign="bottom" nowrap>%</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    5-Day Trading Average</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>42.19</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>29.5</TD>
    <TD align="left" valign="bottom" nowrap>%</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    30-Day Trading Average</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>41.57</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>31.4</TD>
    <TD align="left" valign="bottom" nowrap>%</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    90-Day Trading Average</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>39.29</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>39.0</TD>
    <TD align="left" valign="bottom" nowrap>%</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    1-Year Trading Average</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>33.40</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>63.6</TD>
    <TD align="left" valign="bottom" nowrap>%</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    3-Year Trading Average</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>27.58</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>98.1</TD>
    <TD align="left" valign="bottom" nowrap>%</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    52-Week High</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>47.02</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>16.2</TD>
    <TD align="left" valign="bottom" nowrap>%</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    52-Week Low</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>23.60</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>131.5</TD>
    <TD align="left" valign="bottom" nowrap>%</TD>
</TR>

</TABLE>
</CENTER>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Research Analyst Price Targets.</I> Based on publicly
available Wall Street research analyst views, target prices of
EB range from $44.00 to $52.00&nbsp;per share. Merrill Lynch
compared this range to the $54.63&nbsp;per share merger
consideration.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Analysis of Selected Comparable Publicly Traded
Companies.</I> Using publicly available information concerning
historical and projected financial results, Merrill Lynch
compared financial and operating information and ratios for EB
with the corresponding financial and operating information for
the selected group of publicly traded companies that Merrill
Lynch deemed to be reasonably comparable to EB. The following
companies were selected as the primary comparable companies to
EB.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Specialty Hardline Retailers
</DIV>

<DIV style="margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    Barnes&nbsp;&#38; Noble, Inc.</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    Best Buy Co., Inc.</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    Borders Group, Inc.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">57

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<DIV style="margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    Circuit City Stores, Inc.</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    Guitar Center, Inc.</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    Petco Animal Supplies, Inc.</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    RadioShack Corp.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Video Rental Chains
</DIV>

<DIV style="margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    Blockbuster, Inc.</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    Movie Gallery, Inc.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
There are few public companies which are directly comparable to
EB. The video game industry is highly fragmented. Other than
specialty retailers, industry players include mass merchants,
toy retailers, consumer electronics stores and video rental
chains. Merrill Lynch selected these comparable companies
because they are publicly traded companies with operating
profiles that Merrill Lynch deemed reasonably similar to that of
EB. For each of the comparable companies, Merrill Lynch
calculated enterprise value as of April&nbsp;14, 2005 as a
multiple of last twelve months&#146; earnings before interest,
taxes, depreciation and amortization (LTM EBITDA) and current
stock price as a multiple of 2005 estimated earnings per share
(2005E P/ E multiple).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Based on reported financial results, the enterprise value as a
multiple of LTM EBITDA analysis resulted in a range of multiples
from 5.1x to 11.7x, with a mean of 7.6x for Specialty Hardline
Retailers and 5.3x for Video Rental Chains, as of April&nbsp;14,
2005, as compared to the 7.5x multiple for EB pre-announcement
and the 10.6x multiple implied by the $54.63&nbsp;per share
merger consideration. Based on its analysis of the multiples
calculated for the comparable companies, including qualitative
judgments involving non-mathematical considerations, Merrill
Lynch determined the relevant range to be 6.5x to 8.5x LTM
EBITDA, for an implied equity value range for EB of $36.50 to
$45.25&nbsp;per share.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Based on the street case, 2005E P/ E multiple analysis resulted
in a range of multiples from 11.6x to 28.6x, with a mean of
17.9x for Specialty Hardline Retailers and 21.5x for Video
Rental Chains, as of April&nbsp;14, 2005. Based on its analysis
of the multiples calculated for the comparable companies,
including qualitative judgments involving non-mathematical
considerations, Merrill Lynch determined the relevant range to
be 16.0x to 20.0x 2005E P/ E, for an implied equity value range
for EB of $38.50 to $48.00&nbsp;per share based on street case
and $42.25 to $52.75 based on management case.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
None of the selected comparable companies are identical to EB.
Accordingly, a complete analysis of the results of the foregoing
calculations cannot be limited to a quantitative review of the
results and involves complex considerations and judgments
concerning differences in financial and operating
characteristics of the selected comparable companies, and other
factors that could affect the public trading dynamics of the
selected comparable companies, as well as those of EB.
</DIV>

<P align="center" style="font-size: 10pt;">58

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<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Analysis of Selected Comparable Transactions.</I> Using
publicly available information concerning past transactions,
Merrill Lynch compared the proposed financial terms of the EB
merger with the financial terms of certain other transactions
that Merrill Lynch deemed to be relevant:
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; margin-top: 6pt; ">

<TR style="font-size: 1pt;">
    <TD width="32%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="33%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="29%">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD align="center" nowrap><B>Date</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap><B>Target</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap><B>Acquiror</B></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    3/17/2005</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    Toys &#147;R&#148; Us, Inc.&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    Bain, KKR and Vornado</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    12/2/2004</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    Eye Care Centers of America, Inc.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    Moulin International Holdings Ltd.&nbsp;&#38; Golden Gate
    Private Equity</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    11/19/2004</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    Hollywood Entertainment Corp.&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    Movie Gallery, Inc.</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    6/21/2004</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    Galyan&#146;s Trading Company, Inc.&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    Dick&#146;s Sporting Goods, Inc.</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    3/31/2004</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    InterTAN, Inc.&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    Circuit City Stores Inc.</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    7/14/2003</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    OfficeMax, Inc.&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    Boise Cascade Holdings LLC</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    2/20/2003</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    The Sports Authority, Inc.&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    Gart Sports Co.</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    8/14/2001</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    Future Shop Ltd.&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    Best Buy Co., Inc.</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    12/8/2000</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    K.B. Toys, Inc.&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    Bain Capital, Inc.</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    12/7/2000</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    Musicland Stores Corp.&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    Best Buy Co., Inc.</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    5/17/2000</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    Petco Animal Supplies, Inc.&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    Leonard Green&nbsp;&#38; Partners/TPG</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    5/4/2000</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    Funco, Inc.&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    Barnes&nbsp;&#38; Noble, Inc.</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    1/23/2000</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    CompUSA, Inc.&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    Grupo Sanborns SA de CV</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    1/15/2000</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    Micro Warehouse, Inc.&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    Freeman Spogli&nbsp;&#38; Co.</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    10/28/1999</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    Babbage&#146;s Etc. LLC</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    Barnes&nbsp;&#38; Noble, Inc.</TD>
</TR>

</TABLE>
</CENTER>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The comparable transaction analysis resulted in a range of
transaction values as a multiple of LTM EBITDA from 4.3x to
10.7x, with a mean of 7.2x. Based on the analysis, including
qualitative judgments involving non-mathematical considerations,
Merrill Lynch determined the relevant range to be 7.5x to 9.5x
LTM EBITDA for an implied equity value range for EB of $41.00 to
$49.75&nbsp;per share.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
No transaction used in the analysis above is identical to the
proposed transaction. A complete analysis involves complex
considerations and judgments concerning differences in financial
and operating characteristics of the companies involved in these
transactions and other facts that could affect the transaction
multiples in such comparable transactions to which the proposed
transaction is being compared; mathematical analysis (such as
determining the mean) is not by itself a meaningful method of
using selected transaction data. In addition, Merrill
Lynch&#146;s analysis did not take into account different market
or other conditions during the periods in which the selected
transactions occurred.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Discounted Cash Flow Analysis.</I> Merrill Lynch performed
discounted cash flow analyses of EB for three and five years
ending January&nbsp;31, 2007 and 2009, respectively. Merrill
Lynch based these discounted cash flow analyses upon street case
and management case projections. Merrill Lynch calculated a net
present value for unlevered free cash flow during the projected
periods (<I>i.e.,</I>three and five years) using discount rates
from 13.0% to 16.0%. Merrill Lynch calculated terminal values on
January&nbsp;31, 2007 and January&nbsp;31, 2009 with two
methodologies, EBITDA Multiple Method and Perpetuity Growth
Method. For the EBITDA Multiple Method, Merrill Lynch assumed
EBITDA multiples ranging from 6.0x to 8.0x. For the Perpetuity
Growth Method, Merrill Lynch assumed perpetuity growth rates
ranging from 2.0% to 3.0%. The analyses resulted in the
following implied per share equity value ranges for EB:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    Street case projections:</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="5%"></TD>
    <TD width="1%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    EBITDA Multiple Method: $39.00 to $51.25 (3-Year); $41.25 to
    $55.00 (5-Year)</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    Perpetuity Growth Method: $25.00 to $32.25 (3-Year); $30.00 to
    $39.25 (5-Year)</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">59

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    Management case projections:</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="5%"></TD>
    <TD width="1%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    EBITDA Multiple Method: $49.00 to $65.50 (3-Year); $63.25 to
    $86.75 (5-Year)</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    Perpetuity Growth Method: $33.00 to $44.00 (3-Year); $47.50 to
    $65.50 (5-Year)</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The projections of terminal value EBITDA multiples and
perpetuity growth rates were based upon Merrill Lynch&#146;s
judgment and expertise as well as its review of publicly
available business and financial information and the respective
financial and business characteristics of EB and the comparable
companies.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Present Value of Future Stock Prices Assuming Status Quo.</I>
Using both the street case and management case projections,
Merrill Lynch applied EB&#146;s current 2005E P/ E multiple,
which is 17.0x for street case and 15.5x for management case, in
each case, as of April&nbsp;14, 2005, to the projected 2005-2009
earnings assuming status quo to calculate an estimated future
stock price in each of the aforementioned years. Merrill Lynch
estimated the implied range of values to current stockholders as
of April&nbsp;14, 2005 by discounting these estimated future
stock prices at an estimated 16% equity cost of capital. The
following table reflects the theoretical implied range of values
obtained by Merrill Lynch for the various scenarios using
projections provided by EB:
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; margin-top: 6pt; ">

<TR style="font-size: 1pt;">
    <TD width="61%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Street Case</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Management Case</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Status Quo</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>40.75 - $45.75</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>41.00 - $70.25</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>
</CENTER>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Historical Implied Exchange Ratio.</I> Merrill Lynch analyzed
the historical implied exchange ratio between EB common stock
and GameStop Class&nbsp;A common stock between April&nbsp;14,
2002 and April&nbsp;14, 2005. The historical implied exchange
ratio was calculated by dividing the average price of EB common
stock by the average price of GameStop Class&nbsp;A common stock
for the indicated historical time periods. For comparative
purposes, Merrill Lynch has adjusted the stock portion of the
exchange ratio of 0.78795 to include the exchange ratio implied
from the cash portion of the merger consideration, which implies
an adjusted exchange ratio of 2.612, calculated by dividing the
offer price of $54.63 by the GameStop Class&nbsp;A common stock
price of $20.91 as of April&nbsp;14, 2005.
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; margin-top: 6pt; ">

<TR style="font-size: 1pt;">
    <TD width="79%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Historical</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD align="left" nowrap><B>Historical Time Period</B></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Exchange Ratio</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Close as of April&nbsp;14, 2005</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1.954</TD>
    <TD align="left" valign="bottom" nowrap>x</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Average over one month</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1.958</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Average over three months</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1.932</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Average over six months</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1.876</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Average over one year</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1.790</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Average over two years</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1.719</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Average over three years</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1.627</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>
</CENTER>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Relative Valuation Analysis.</I> Merrill Lynch calculated a
range of implied exchange ratios by comparing theoretical values
of EB common stock and GameStop Class&nbsp;A common stock. The
exchange ratio is calculated by dividing the theoretical value
of EB common stock by the theoretical value of GameStop
Class&nbsp;A common stock. Merrill Lynch multiplied these
exchange ratios by the GameStop Class&nbsp;A common stock
closing price of $20.91 as of April&nbsp;14, 2005 to determine
the implied per share equity values of EB.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Merrill Lynch calculated the theoretical value of GameStop
Class&nbsp;A common stock based on projections provided by
GameStop management (GameStop management case). Merrill Lynch
did not assume any responsibility for independently verifying
such information nor did it undertake any independent evaluation
or appraisal of any of the assets or liabilities of GameStop.
The methodologies that
</DIV>

<P align="center" style="font-size: 10pt;">60

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV align="left" style="font-size: 10pt;">
Merrill Lynch used to determine the theoretical values of
GameStop and EB, as well as the implied exchange ratios and the
implied per share equity values of EB, are detailed in the table
below:
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 9pt; margin-top: 6pt; ">

<TR style="font-size: 1pt;">
    <TD width="3%">&nbsp;</TD>
    <TD width="33%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
</TR>


<TR style="font-size: 7pt;">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="14" align="center" nowrap><B>Implied per Share Value</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap><B>Implied Exchange</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="7">&nbsp;</TD>
</TR>

<TR style="font-size: 7pt;">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="14" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap><B>Ratio</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap><B>Implied Offer Price</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="7">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="7">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR style="font-size: 7pt;">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap><B>EB</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap><B>GameStop</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Low EB</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>High EB</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Low EB</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>High EB</B></TD><TD></TD>
</TR>

<TR style="font-size: 7pt;">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>to High</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>to Low</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>to High</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>to Low</B></TD><TD></TD>
</TR>

<TR style="font-size: 7pt;">
    <TD colspan="2" align="center" nowrap><B>Methodology</B></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Low</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>High</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Low</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>High</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>GameStop</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>GameStop</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>GameStop</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>GameStop</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <B>Public Comparables</B></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    2004 EBITDA</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>36.50</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>45.25</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>19.50</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>24.00</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1.521</TD>
    <TD align="left" valign="bottom" nowrap>x</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>2.321</TD>
    <TD align="left" valign="bottom" nowrap>x</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>31.75</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>48.50</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <B>Discounted Cash Flow Analysis (3-Year)</B></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="6" align="left" valign="top">
    EB Street Case/ GameStop Management Case</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Perpetuity Growth</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>25.00</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>32.25</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>15.50</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>20.50</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1.220</TD>
    <TD align="left" valign="bottom" nowrap>x</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>2.081</TD>
    <TD align="left" valign="bottom" nowrap>x</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>25.50</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>43.50</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    EBITDA Multiple</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>39.00</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>51.25</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>21.50</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>28.25</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1.381</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>2.384</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>28.75</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>49.75</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="10" align="left" valign="top">
    EB Management Case/ GameStop Management Case</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Perpetuity Growth</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>33.00</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>44.00</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>15.50</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>20.50</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1.610</TD>
    <TD align="left" valign="bottom" nowrap>x</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>2.839</TD>
    <TD align="left" valign="bottom" nowrap>x</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>33.75</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>59.25</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    EBITDA Multiple</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>49.00</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>65.50</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>21.50</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>28.25</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1.735</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>3.047</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>36.25</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>63.75</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <B>Research Targets</B></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>44.00</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>52.00</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>25.00</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>30.00</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1.467</TD>
    <TD align="left" valign="bottom" nowrap>x</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>2.080</TD>
    <TD align="left" valign="bottom" nowrap>x</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>30.75</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>43.50</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>
</CENTER>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Pro Forma Acquisition Analysis.</I> Merrill Lynch prepared
pro forma analyses for the financial impact of the mergers using
management case for both GameStop and EB. Based on such
analyses, Merrill Lynch determined that the proposed transaction
would be accretive to GameStop&#146;s stockholders, after
synergies, in each of the calendar years 2006 and 2007.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The summary set forth above does not purport to be a complete
description of the analyses underlying the Merrill Lynch opinion
or the presentations made by Merrill Lynch to EB&#146;s board of
directors. The preparation of a fairness opinion is a complex
process and is not necessarily susceptible to partial analysis
or summary description. Merrill Lynch believes that selecting
any portion of its analyses or of the summary set forth above,
without considering the analyses as a whole, would create an
incomplete view of the process underlying Merrill Lynch&#146;s
opinion. In arriving at its opinion, Merrill Lynch considered
the results of all its analyses and did not attribute any
particular weight to any analysis or factor considered by it,
but rather made qualitative judgments as to the significance or
relevance of each analysis and factor. The analyses performed by
Merrill Lynch include analyses based upon forecasts or future
results, which may be significantly more or less favorable than
those underlying Merrill Lynch&#146;s analyses. The analyses do
not purport to be appraisals or to reflect the prices at which
EB&#146;s or GameStop&#146;s common stock may trade at any time
after announcement of the mergers or how the Holdco common stock
may trade following consummation of the mergers. The analyses
were prepared solely for the purposes of Merrill Lynch providing
its opinion to the EB board of directors. The matters considered
by Merrill Lynch in its analyses were based on numerous
macroeconomic, operating and financial assumptions with respect
to industry performance, general business and economic
conditions and other matters, many of which are beyond
EB&#146;s, GameStop&#146;s or Merrill Lynch&#146;s control, and
involve the application of complex methodologies and educated
judgments. In addition, no company utilized as a comparison in
the analyses described above is identical to GameStop or EB, and
none of the transactions utilized as a comparison is identical
to the mergers. Because the analyses are inherently subject to
uncertainty, neither Merrill Lynch nor any other person assumes
responsibility if future results or actual values are materially
different from those forecasted. Merrill Lynch has no obligation
to update its opinion to take into account events occurring
after the date that its opinion was delivered to EB&#146;s board
of directors. Circumstances could develop prior to consummation
of the proposed transaction that, if known at the time Merrill
Lynch rendered its opinion, would have altered its opinion.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The board of directors of EB selected Merrill Lynch as its
financial advisor because of Merrill Lynch&#146;s reputation as
an internationally recognized investment banking and advisory
firm with substantial experience in transactions similar to the
mergers and because Merrill Lynch is familiar with EB and its
business. As part of its investment banking and advisory
business, Merrill Lynch is continually engaged in
</DIV>

<P align="center" style="font-size: 10pt;">61

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV align="left" style="font-size: 10pt;">
the valuation of businesses and their securities in connection
with mergers and acquisitions, negotiated underwritings,
competitive biddings, secondary distributions of listed and
unlisted securities, private placements and valuations for
corporate and other purposes.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Under the terms of a letter agreement dated April&nbsp;7, 2005,
pursuant to which EB engaged Merrill Lynch as its financial
advisor, EB agreed to pay $10.0&nbsp;million to Merrill Lynch
for its services, $200,000 of which was paid upon the
announcement of the entry by EB into the merger agreement, and
the remainder of which is contingent upon consummation of the
proposed transactions. In the event that EB receives a
&#147;break-up&#148; or similar fee or payment, EB agreed to pay
Merrill Lynch a fee of 10% of all such amounts less any fee
previously paid to Merrill Lynch pursuant to the letter
agreement. The aggregate amount of all fees under the letter
agreement may not exceed $10.0&nbsp;million. In addition to any
fees payable to Merrill Lynch under the letter agreement, EB
agreed to reimburse Merrill Lynch for its reasonable
out-of-pocket expenses incurred in connection with providing its
services and rendering its opinion, including the reasonable
fees of its legal counsel. Subject to certain exceptions, EB
also agreed to indemnify Merrill Lynch and related parties
against various liabilities, including liabilities arising under
the federal securities laws or related to or arising out of the
mergers or the engagement of Merrill Lynch.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
With the consent of the board of directors of EB, Merrill Lynch
and certain of its affiliates are acting as initial lender and
joint book-running lead arranger for a senior credit facility,
and are engaged as joint book-running managing underwriter,
placement agent, or initial purchaser, in each case along with
certain other financial institutions, to provide financing to
GameStop in connection with the mergers. Merrill Lynch and its
affiliates will receive underwriting, commitment and other fees
in connection with such financing. The financing fee Merrill
Lynch and its affiliates will receive is contingent upon, among
other factors, the structure of the financing, and credit
ratings of the facilities. See &#147;The Mergers&nbsp;&#151;
Financing&#148; on page&nbsp;97.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In addition, Merrill Lynch has, in the past, provided financial
advisory and financing services to GameStop and EB and/or their
affiliates and may continue to do so and has received, and may
receive, fees for the rendering of such services. Except as
described above, Merrill Lynch has not received any fees from
EB, GameStop and/or their affiliates during the last two years.
In the ordinary course of its business, Merrill Lynch may
actively trade shares of EB common stock and other securities of
EB, as well as common stock of GameStop and other securities of
GameStop, for Merrill Lynch&#146;s own account and for the
accounts of its customers and, accordingly, may at any time hold
a long or short position in such securities.
</DIV>

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I>Peter J. Solomon Company, L.P.</I></B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In April 2005, EB engaged Peter J. Solomon Company, L.P.
(PJSC)&nbsp;to act as its financial advisor with respect to
rendering a fairness opinion regarding the consideration
proposed to be received by the holders of EB common stock in the
EB merger. On April&nbsp;17, 2005, PJSC rendered its oral
opinion telephonically to EB&#146;s board of directors, which
opinion was confirmed by delivery of a written opinion
(PJSC&#146;s opinion) to the effect that, based upon and subject
to various considerations set forth in such opinion, as of
April&nbsp;17, 2005, the consideration proposed to be received
by the holders of EB common stock in connection with the EB
merger was fair from a financial point of view to the holders of
EB common stock, other than the Kim Group.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>The full text of PJSC&#146;s opinion, which sets forth
assumptions made, procedures followed, matters considered,
limitations on and scope of the review by PJSC in rendering
PJSC&#146;s opinion, is attached to this joint proxy
statement-prospectus as <U>Annex&nbsp;I</U> and is incorporated
by reference into this joint proxy statement-prospectus.
PJSC&#146;s opinion was directed only to the fairness of the
consideration proposed to be received by the holders of EB
common stock, other than the Kim Group, in the EB merger from a
financial point of view, was provided to EB&#146;s board of
directors in connection with its evaluation of the mergers, did
not address any other aspect of the mergers and did not, and
does not, constitute a recommendation to any holder of EB common
stock as to how any stockholder should vote or act on any matter
with respect to the mergers. The summary of PJSC&#146;s opinion
set forth in this joint proxy</B>
</DIV>

<P align="center" style="font-size: 10pt;">62

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<DIV align="left" style="font-size: 10pt;">
<B>statement-prospectus is qualified in its entirety by
reference to the full text of such opinion. Holders of EB common
stock are urged to read PJSC&#146;s opinion carefully and in its
entirety. PJSC has consented to the use of PJSC&#146;s opinion
in this joint proxy statement-prospectus.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In connection with PJSC&#146;s opinion, PJSC:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    reviewed certain publicly available financial statements and
    other information of GameStop&nbsp;and EB;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    reviewed certain internal financial statements and other
    financial and operating data concerning GameStop and EB prepared
    by the management of GameStop and EB, respectively;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    reviewed certain financial projections for GameStop and EB,
    including certain potential benefits of the proposed business
    combination, prepared by the management of GameStop and EB,
    respectively;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    discussed the past and current operations, financial condition
    and prospects of GameStop and EB with the management of GameStop
    and EB, respectively;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    reviewed the reported prices and trading activity of EB common
    stock and GameStop common stock;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    compared the financial performance and condition of GameStop and
    EB and the reported prices and trading activity of EB common
    stock and GameStop common stock with that of certain other
    comparable publicly traded companies;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    reviewed publicly available information regarding the financial
    terms of certain transactions comparable, in whole or in part,
    to the mergers;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    participated in certain discussions among representatives of
    each of GameStop and EB;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    reviewed the draft merger agreement dated as of April&nbsp;16,
    2005 and the draft Kim Group and Riggio Group voting agreements
    dated as of April&nbsp;17, 2005;&nbsp;and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    performed such other analyses as PJSC deemed appropriate.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
PJSC assumed and relied upon the accuracy and completeness of
the information reviewed by PJSC for the purposes of its opinion
and PJSC did not assume any responsibility for independent
verification of such information. With respect to the financial
projections, including the estimates made by EB&#146;s
management and GameStop&#146;s management of certain potential
benefits of the mergers, PJSC assumed that the financial
projections were reasonably prepared on bases reflecting the
best currently available estimates and judgments of the future
financial performance of GameStop and EB, respectively. PJSC did
not conduct a physical inspection of the facilities or property
of GameStop or EB. PJSC did not assume any responsibility for
any independent valuation or appraisal of the assets or
liabilities of GameStop or EB, nor was PJSC furnished with any
such valuation or appraisal. Furthermore, PJSC did not consider
any tax effects of the mergers or the transaction structure on
any person or entity.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
PJSC assumed that the final form of the merger agreement and the
voting agreements would be substantially the same as the last
draft of each agreement reviewed by PJSC. PJSC also assumed that
the mergers would be consummated in accordance with the terms of
the merger agreement, without waiver, modification or amendment
of any material term, condition or agreement, and that, in the
course of obtaining the necessary regulatory or third party
approvals, consents and releases for the mergers, no delay,
limitation, restriction or condition would be imposed that would
have a material adverse effect on GameStop or EB or the
contemplated benefits of the mergers. PJSC further assumed that
all representations and warranties set forth in the merger
agreement and the voting agreements were true and correct and
that all parties to the merger agreement and the voting
agreements will comply with all covenants of such party
thereunder. PJSC also assumed that Holdco Class&nbsp;A common
stock and Holdco Class&nbsp;B common stock have identical
powers, preferences and rights, except that holders of Holdco
Class&nbsp;A common stock will have one vote per share and
holders of Holdco Class&nbsp;B common stock will have ten votes
per share, in each case on matters for which the stockholders of
Holdco are entitled to vote.
</DIV>

<P align="center" style="font-size: 10pt;">63

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
PJSC&#146;s opinion was necessarily based on economic, market
and other conditions as in effect on, and the information made
available to PJSC as of, April&nbsp;15, 2005. In particular,
PJSC did not express any opinion as to the prices at which
shares of EB common stock, GameStop common stock or Holdco
common stock would trade at any future time. Furthermore,
PJSC&#146;s opinion did not address EB&#146;s underlying
business decision to undertake any part of the mergers.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In arriving at PJSC&#146;s opinion, PJSC was not authorized to
solicit, and did not solicit, interest from any party with
respect to a merger or other business combination transaction
involving EB or any of its assets. No limitations were imposed
by EB&#146;s board of directors upon PJSC with respect to
investigations made or procedures followed by PJSC in rendering
PJSC&#146;s opinion.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The following summarizes the significant financial analyses
performed by PJSC and reviewed with EB&#146;s board of directors
on April&nbsp;17, 2005 in connection with the delivery of
PJSC&#146;s opinion. The financial analyses summarized below
include information presented in tabular format. In order to
fully understand PJSC&#146;s financial analyses, the tables must
be read together with the text of each summary. The tables alone
do not constitute a complete description of the financial
analyses. Considering the data in the tables below without
considering the full narrative description of the financial
analyses, including the methodologies and assumptions underlying
the analyses, could create a misleading or incomplete view of
PJSC&#146;s financial analyses.
</DIV>

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I>Historical Share Price Analysis&nbsp;&#151; EB</I></B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
PJSC reviewed the closing prices and trading volumes of EB
common stock on the NASDAQ National Market from April&nbsp;14,
2000 to April&nbsp;14, 2005 (two trading days prior to the
rendering of PJSC&#146;s opinion) to obtain background
information and perspective with respect to the historical share
price of EB common stock. During the twelve months ended
April&nbsp;14, 2005, the high closing price for EB common stock
was $47.02&nbsp;per share and the low closing price was
$23.60&nbsp;per share. In addition, during the twelve months
ended April&nbsp;14, 2005, the average closing price for EB
common stock was $33.40&nbsp;per share and the median closing
price was $33.10&nbsp;per share. During the period from
April&nbsp;14, 2000 to April&nbsp;14, 2005, the high closing
price for EB common stock was $47.02&nbsp;per share and the low
closing price was $12.05&nbsp;per share.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
PJSC analyzed the implied value per share of the EB merger
consideration of $54.63 for each outstanding share of EB common
stock, which we refer to herein as the implied per share merger
consideration, which was determined based on the merger
consideration of $38.15 in cash and the 0.78795&nbsp;shares of
GameStop Class&nbsp;A common stock valued at $20.91 based on the
closing price of GameStop Class&nbsp;A common stock on
April&nbsp;14, 2005, to derive premiums over the median price of
EB common stock for the specified time periods below. PJSC
derived premiums over the median price of EB common stock for
periods prior to April&nbsp;14, 2005 (two trading days prior to
the rendering of PJSC&#146;s opinion). The derived premiums were:
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; margin-top: 6pt; ">

<TR style="font-size: 1pt;">
    <TD width="82%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Premium to</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD align="left" nowrap><B>Time Periods Prior to April&nbsp;14, 2005:</B></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Median</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    7 Days Prior</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>28.6</TD>
    <TD align="left" valign="bottom" nowrap>%</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    30 Days Prior</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>28.9</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    60 Days Prior</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>36.3</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    90 Days Prior</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>42.2</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    180 Days Prior</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>40.7</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Last 1&nbsp;Year Prior</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>65.0</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Last 3&nbsp;Years Prior</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>101.1</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Last 5&nbsp;Years Prior</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>102.3</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>
</CENTER>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
PJSC also reviewed the relative performance from
February&nbsp;12, 2002 (the date of GameStop&#146;s initial
public offering) to April&nbsp;14, 2005 of (1)&nbsp;EB common
stock, (2)&nbsp;GameStop Class&nbsp;A common stock and
(3)&nbsp;the Standard&nbsp;&#38; Poor&#146;s 500 Index. During
the period from April&nbsp;14, 2004 to April&nbsp;14, 2005 (two
</DIV>

<P align="center" style="font-size: 10pt;">64

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<DIV align="left" style="font-size: 10pt;">
trading days prior to the rendering of PJSC&#146;s opinion), the
price of EB common stock increased 43.8%, the price of GameStop
Class&nbsp;A common stock increased 16.8% and the S&#38;P 500
Index increased 3.0%. During the period from February&nbsp;12,
2002 to April&nbsp;14, 2005, the price per share of EB common
stock increased 11.0%, the price per share of GameStop
Class&nbsp;A common stock increased 16.2% and the S&#38;P 500
Index increased 4.9%.
</DIV>

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I>Analysis of Selected Publicly Traded Comparable
    Companies</I></B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
PJSC reviewed and compared selected financial data of EB with
similar data using publicly available information of the
following publicly traded companies, which, based on PJSC&#146;s
experience with companies in the specialty retail entertainment
industry, PJSC deemed comparable to EB: GameStop,
Barnes&nbsp;&#38; Noble, Borders Group, Inc., Blockbuster Inc.,
Guitar Center, Inc., Movie Gallery, Inc., RadioShack Corporation
and Trans World Entertainment Corporation. These companies are
referred to herein as the comparable companies.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
PJSC calculated and compared various financial multiples and
ratios, including, among other things: (1)&nbsp;the most recent
stock price per share as a multiple of EPS, for the fiscal years
2004, 2005 and 2006 (ended January 31 of the following year)
based upon (i)&nbsp;the closing stock prices as of
April&nbsp;14, 2005 and the mean estimate of Wall Street
analysts&#146; estimates for EPS as reported by First Call
Investment Research on April&nbsp;14, 2005 (two trading days
prior to the date of rendering of PJSC&#146;s opinion) for the
comparable companies and (ii)&nbsp;EPS for EB based on
(a)&nbsp;actual 2004 EPS of EB and (b)&nbsp;a set of projections
of EB prepared by EB&#146;s management, which we refer to herein
as the Management Projections; and (2)&nbsp;enterprise value
(which represents total equity value plus book values of total
debt, preferred stock and minority interests less cash) as a
multiple of net sales, earnings before interest and taxes
(EBIT), and EBITDA for the comparable companies over the latest
twelve months (LTM)&nbsp;and in this case referred to as fiscal
year 2004 (FY 2004).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Based on this data, as of April&nbsp;14, 2005, PJSC developed a
summary valuation analysis based on a range of trading valuation
multiples and ratios for certain of the comparable companies and
EB. This analysis resulted in the following ranges of multiples
and ratios:
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; margin-top: 6pt; ">

<TR style="font-size: 1pt;">
    <TD width="3%">&nbsp;</TD>
    <TD width="75%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Implied Ratios</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <B>FY 2004</B></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Enterprise Value as a Ratio of:</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Net Sales</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>45.0% - 60.0</TD>
    <TD align="left" valign="bottom" nowrap>%</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    EBITDA</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>5.5x&nbsp;- &nbsp;7.5</TD>
    <TD align="left" valign="bottom" nowrap>x</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    EBIT</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>8.5x&nbsp;- 11.0</TD>
    <TD align="left" valign="bottom" nowrap>x</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Equity Value as a Ratio of:</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    FY 2004 Net Income</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>14.0x&nbsp;- 19.5</TD>
    <TD align="left" valign="bottom" nowrap>x</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <B>Projected Data</B></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Equity Value as a Ratio of:</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    FY 2005 Net Income</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>14.5x&nbsp;- 18.0</TD>
    <TD align="left" valign="bottom" nowrap>x</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    FY 2006 Net Income</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>13.0x&nbsp;- 15.5</TD>
    <TD align="left" valign="bottom" nowrap>x</TD>
</TR>

</TABLE>
</CENTER>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
PJSC calculated the implied equity value per share of EB common
stock using the range of multiples and ratios applied to EB
financial statistics, both excluding and including a
&#147;control premium.&#148; For these purposes, PJSC used a
control premium of 25%, which is the approximate mean premium
paid (to the closing price one week prior to announcement) in
all announced United States mergers and acquisitions
transactions valued between $500&nbsp;million and
$2.0&nbsp;billion since April&nbsp;14, 2002, as reported by
Thomson Financial Mergers&nbsp;&#38; Acquisitions.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Based on the foregoing, this analysis yielded a range of values
from $33.00 to $45.00&nbsp;per share for EB common stock
excluding a control premium and a range of values from $41.25 to
$56.25&nbsp;per share of EB common stock including a control
premium, compared to the implied per share merger consideration
of $54.63.
</DIV>

<P align="center" style="font-size: 10pt;">65

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<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I>Analysis of Selected Comparable Transactions</I></B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Using publicly available information, PJSC reviewed certain
mergers and acquisitions transactions in the specialty retail
entertainment industry which PJSC believed were comparable to
the mergers. The list of transactions reviewed were (including
the acquiror and target in the transaction, respectively):
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; margin-top: 6pt; ">

<TR style="font-size: 1pt;">
    <TD width="78%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD align="left" nowrap><B>Transaction</B></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Date Announced</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    (i) GameStop/ Barnes&nbsp;&#38; Noble</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom" nowrap>October 2004</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    (ii) Barnes&nbsp;&#38; Noble/ Funco, Inc.&nbsp;</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom" nowrap>May 2000</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    (iii) Barnes&nbsp;&#38; Noble/ Babbage&#146;s Etc. LLC</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom" nowrap>October 1999</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    (iv) Highfields Capital Management, LP/ Circuit City Stores,
    Inc.&nbsp;</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom" nowrap>February 2005</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    (v) Movie Gallery, Inc./ Hollywood Entertainment Corporation</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom" nowrap>January 2005</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    (vi) Circuit City Stores, Inc./ InterTAN, Inc.&nbsp;</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom" nowrap>March 2004</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    (vii) Best Buy Co., Inc./ Musicland Stores Corporation</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom" nowrap>December 2000</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    (viii) Trans World Entertainment Corporation/ Camelot Music
    Holdings, Inc.&nbsp;</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom" nowrap>October 1998</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>
</CENTER>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
These transactions are referred to herein as the comparable
transactions.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
PJSC calculated the multiples of net sales, EBITDA and EBIT paid
in these selected comparable transactions. PJSC calculated the
implied equity values per share for EB common stock using this
range of multiples and ratios applied to financials of EB for
fiscal year 2004. This analysis resulted in the following ranges
of multiples and ratios:
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; margin-top: 6pt; ">

<TR style="font-size: 1pt;">
    <TD width="3%">&nbsp;</TD>
    <TD width="75%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD colspan="2" align="left" nowrap><B>FY 2004</B></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Implied Ratios</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Enterprise Value as a Ratio of:</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Net Sales</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>45.0% - 75.0</TD>
    <TD align="left" valign="bottom" nowrap>%</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    EBITDA</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>6.5x&nbsp;- 10.5</TD>
    <TD align="left" valign="bottom" nowrap>x</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    EBIT</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>7.5x&nbsp;- 14.0</TD>
    <TD align="left" valign="bottom" nowrap>x</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Equity Value as a Ratio of:</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    FY 2004 Net Income</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>12.5x&nbsp;- 18.0</TD>
    <TD align="left" valign="bottom" nowrap>x</TD>
</TR>

</TABLE>
</CENTER>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Based on the foregoing, this analysis yielded a range of values
from $36.00 to $54.00&nbsp;per share of EB common stock,
compared to the implied per share merger consideration of $54.63.
</DIV>

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I>Discounted Cash Flow Analysis</I></B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
PJSC performed a discounted cash flow analysis to calculate the
net present value per share of EB common stock based on a set of
projections referred to as the Management Projections. In
performing its discounted cash flow analysis, PJSC considered
various assumptions that it deemed appropriate based on a review
with the management of EB&#146;s prospects and risks. For these
purposes, PJSC utilized various discount rates ranging from
13.0% to 16.0% and EBITDA terminal value multiples ranging from
6.0x to 8.0x to apply to forecasted EBITDA for the fiscal year
2007.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Based on the foregoing, this analysis yielded a range of net
present values from $50.00 to $65.00&nbsp;per share of EB common
stock, compared to the implied per share merger consideration of
$54.63.
</DIV>

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I>Historical Share Price Analysis&nbsp;&#151;
    GameStop</I></B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
PJSC reviewed the closing prices and trading volumes of GameStop
Class&nbsp;A common stock on the NYSE from February&nbsp;12,
2002 (the date of GameStop&#146;s initial public offering) to
April&nbsp;14, 2005 (two trading days prior to the rendering of
PJSC&#146;s opinion). During the twelve months ended
April&nbsp;14, 2005, the high closing price for the GameStop
Class&nbsp;A common stock was $23.50&nbsp;per share and the low
closing price was $14.54&nbsp;per share. In addition, during the
twelve months ended April&nbsp;14, 2005, the average closing
price for GameStop Class&nbsp;A common stock was $18.56&nbsp;per
share and the median closing price was
</DIV>

<P align="center" style="font-size: 10pt;">66

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<DIV align="left" style="font-size: 10pt;">
$18.85&nbsp;per share. During the period from February&nbsp;12,
2002 to April&nbsp;14, 2005, the high closing price for GameStop
Class&nbsp;A common stock was $24.21&nbsp;per share and the low
closing price was $7.59&nbsp;per share.
</DIV>

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I>Relative Contribution Analysis</I></B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
PJSC calculated the relative net sales, EBITDA, EBIT and net
income contributions of GameStop and EB based on actual
historical results and projected results based on projections
prepared by management of GameStop and EB, respectively. PJSC
compared the actual net income contribution of each company for
fiscal years 2002, 2003 and 2004 and the projected net income
contribution of each company for fiscal years 2005, 2006 and
2007 to the equity value contributions of each company to the
combined company based on the implied per share merger
consideration for EB common stock and the closing price for
GameStop Class&nbsp;A common stock as of April&nbsp;14, 2005.
This analysis indicated net income contributions of EB for all
periods analyzed ranging from 37.0% to 49.1%, compared to the
equity value contribution of EB at the implied per share merger
consideration of 54.4%. PJSC also compared the actual net sales,
EBITDA and EBIT contribution of each company for fiscal years
2002, 2003 and 2004 and the projected net sales, EBITDA and EBIT
contribution of each company for fiscal years 2005, 2006 and
2007 to the enterprise value contributions of each company to
the combined company based on the implied per share merger
consideration for EB common stock and the closing price for
GameStop Class&nbsp;A common stock as of April&nbsp;14, 2005.
This analysis indicated net sales, EBITDA and EBIT contributions
of EB for all periods analyzed ranging from 35.5% to 52.1%,
compared to the enterprise value contribution of EB at the
implied per share merger consideration of 54.1%.
</DIV>

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I>Historical Exchange Ratio Analysis</I></B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
PJSC compared the historical per share prices of EB common stock
and GameStop Class&nbsp;A common stock for the one-year period
prior to April&nbsp;14, 2005 in order to determine the implied
average exchange ratio that existed for the period. This
analysis indicated an average exchange ratio of 1.790x for the
one-year period prior to April&nbsp;14, 2005, compared to the
implied exchange ratio in the merger of 2.612x shares of
GameStop Class A common stock for each share of EB common stock
(as of April 14, 2005 and assuming an all-stock transaction).
</DIV>

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I>Pro Forma Merger Analysis</I></B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
PJSC analyzed the pro forma impact of the mergers on
GameStop&#146;s EPS in fiscal years 2006, 2007 and 2008 (ended
January 31 of the following year). PJSC compared the projected
stand-alone earnings per share of GameStop Class&nbsp;A common
stock based on GameStop&#146;s management&#146;s projections of
GameStop, on a stand-alone basis, to the pro forma earnings per
share of the common stock of the combined company based on the
management projections of GameStop and the management
projections of EB. This analysis was performed both with and
without synergies in 2006, 2007 and 2008 based on guidance from
the management of EB. This analysis indicated that, excluding
synergies, the mergers would be dilutive in 2006 and accretive
in 2007 and 2008 to holders of GameStop Class&nbsp;A common
stock. Including the synergies, this analysis indicated that the
mergers would be accretive on an earnings per share basis in
2006, 2007 and 2008 to holders of GameStop Class&nbsp;A common
stock.
</DIV>

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I>Miscellaneous</I></B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In arriving at PJSC&#146;s opinion, PJSC performed a variety of
financial analyses, the material portions of which are
summarized above. The preparation of a fairness opinion is a
complex process involving various determinations as to the most
appropriate and relevant methods of financial analyses and the
application of those methods to the particular circumstances
and, therefore, such an opinion is not necessarily susceptible
to a partial analysis or summary description. In arriving at its
opinion, PJSC did not attribute any particular weight to any
analysis or factor considered by it, but rather made qualitative
judgments as to significance and relevance of each analysis and
factor. Accordingly, PJSC believes that its analysis must be
considered as a whole and that selecting portions of its
analysis, without considering all such analyses, could create an
incomplete view of the process underlying PJSC&#146;s opinion.
</DIV>

<P align="center" style="font-size: 10pt;">67

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In performing its analyses, PJSC relied on numerous assumptions
made by the management of GameStop and EB and made numerous
judgments of its own with regard to current and future industry
performance, general business and economic conditions and other
matters, many of which are beyond the control of GameStop and
EB. Actual values will depend upon several factors, including
changes in interest rates, dividend rates, market conditions,
general economic conditions and other factors that generally
influence the price of securities. The analyses performed by
PJSC are not necessarily indicative of actual values or actual
future results, which may be significantly more or less
favorable than suggested by such analyses. Such analyses were
prepared solely as a part of PJSC&#146;s analysis of the
fairness from a financial point of view of the consideration
proposed to be received by the holders of EB common stock in
connection with the EB merger and were provided to EB&#146;s
board of directors in connection with the delivery of
PJSC&#146;s opinion. The analyses do not purport to be
appraisals or necessarily reflect the prices at which businesses
or securities might actually be sold, which are inherently
subject to uncertainty. Because such analyses are inherently
subject to uncertainty, neither of EB nor PJSC, nor any other
person, assumes responsibility for their accuracy. With regard
to the comparable public company analysis and the comparable
transactions analysis summarized above, PJSC selected comparable
public companies on the basis of various factors for reference
purposes only; however, no public company or transaction
utilized as a comparison is fully comparable to EB or the
mergers. Accordingly, an analysis of the foregoing was not
mathematical; rather, it involves complex considerations and
judgments concerning differences in financial and operating
characteristics of the comparable companies and other factors
that could affect the acquisition or public trading value of the
comparable companies and transactions to which EB and the
mergers were being compared.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The consideration in the mergers was determined through
arm&#146;s-length negotiations between GameStop and EB and was
approved by EB&#146;s board of directors. PJSC did not recommend
any specific merger consideration to EB or that any given merger
consideration constituted the only appropriate merger
consideration for the mergers. In addition, as described
elsewhere in this joint proxy statement-prospectus, PJSC&#146;s
opinion was one of many factors taken into consideration by
EB&#146;s board of directors in evaluating the mergers.
Consequently, the PJSC analyses described above should not be
viewed as determinative of the opinion of EB&#146;s board of
directors or management with respect to the mergers.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
As part of its investment banking activities, PJSC is regularly
engaged in the evaluation of businesses and their securities in
connection with mergers and acquisitions, restructurings and
valuations for corporate or other purposes. EB&#146;s board of
directors selected PJSC to deliver an opinion with respect to
the consideration proposed to be received by the holders of EB
common stock in connection with the EB merger on the basis of
such experience.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The financial advisory services PJSC provided to EB in
connection with the mergers were limited to the delivery of
PJSC&#146;s opinion.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Under the terms of PJSC&#146;s engagement, EB agreed to pay PJSC
a customary transaction fee of $500,000, all of which was
payable upon the delivery of PJSC&#146;s opinion. EB has also
agreed to reimburse PJSC for its out-of-pocket expenses,
including fees and disbursements of its counsel, incurred in
connection with its engagement. In addition, EB agreed to
indemnify PJSC and its affiliates, counsel and other
professional advisors, and the respective directors, officers,
controlling persons, agents and employees of each of the
foregoing, against certain liabilities and expenses arising out
of PJSC&#146;s engagement. PJSC has not received any other
compensation during the last two years for providing investment
banking services to GameStop or EB. During the past two years,
PJSC provided financial advisory services to Barnes&nbsp;&#38;
Noble and/or its affiliates in connection with the sale of
shares of GameStop common stock in a private sale and the
spin-off of shares of GameStop common stock to Barnes&nbsp;&#38;
Noble&#146;s stockholders, for which services PJSC received a
customary fee.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='177'></A>
</DIV>

<!-- link1 "Interests of Directors and Executive Officers in the Mergers" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Interests of Directors and Executive Officers in the
Mergers</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Interests of GameStop Directors and Executive Officers.</I>
In considering the recommendation of the board of directors of
GameStop to vote for the proposal to adopt the merger agreement
and the
</DIV>

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<DIV align="left" style="font-size: 10pt;">
transactions contemplated thereby, including the GameStop
merger, the amendment to the GameStop Amended and Restated 2001
Incentive Plan, the amendment to GameStop&#146;s certificate of
incorporation and the other proposals at the annual meeting,
stockholders of GameStop should be aware that members of the
GameStop board of directors and members of GameStop&#146;s
executive management have relationships, agreements or
arrangements that provide them with interests in the mergers
that may be in addition to or differ from those of
GameStop&#146;s stockholders. The GameStop board of directors
was aware of these relationships, agreements and arrangements
during its deliberations on the merits of the mergers and in
making its decision to recommend to the GameStop stockholders
that they vote to adopt the merger proposal.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Interests of GameStop&#146;s Controlling Stockholders.</I> In
connection with the merger agreement, the Riggio Group entered
into a voting agreement and irrevocable proxy with GameStop and
EB, pursuant to which, the Riggio Group has agreed (1)&nbsp;to
vote their shares of GameStop common stock in favor of the
adoption of the merger agreement and (2)&nbsp;not to transfer or
otherwise dispose of any of their shares of GameStop common
stock until the termination of the voting agreement which occurs
upon the earlier of the termination of the merger agreement or
the day after the effective date of the mergers.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
As of August&nbsp;30, 2005, the GameStop record date, the Riggio
Group owned approximately 5.3&nbsp;million shares of GameStop
Class&nbsp;B common stock, which represents approximately 16.4%
of the combined voting power of all classes of GameStop&#146;s
voting stock. The Riggio Group also holds exercisable options to
acquire 4,500,000&nbsp;shares of GameStop Class&nbsp;A common
stock. These options are not expected to be exercised prior to
the GameStop record date and therefore the Riggio Group is not
expected to have any voting power with respect to the GameStop
Class&nbsp;A common stock. Further information about the
interests of GameStop&#146;s controlling stockholders can be
found at &#147;Risk Factors&nbsp;&#151; Directors of GameStop
and EB may have potential conflicts of interest in recommending
that you vote in favor of adoption of the merger agreement&#148;
on page&nbsp;20, and further information about the voting
agreement can be found under &#147;The Riggio Group Voting
Agreement&#148; on page&nbsp;95.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Other GameStop Share Ownership.</I> R. Richard Fontaine, the
Chairman and Chief Executive Officer of GameStop, holds
exercisable options to acquire approximately 4.2% of the
outstanding GameStop Class&nbsp;A common stock. Daniel A.
DeMatteo, the Vice Chairman and Chief Operating Officer of
GameStop, holds exercisable options to acquire approximately
4.2% of the outstanding GameStop Class&nbsp;A common stock.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>GameStop Management Positions.</I> R. Richard Fontaine, the
Chairman and Chief Executive Officer of GameStop, will be the
Chairman and Chief Executive Officer of Holdco. Daniel A.
DeMatteo, the Vice Chairman and Chief Operating Officer of
GameStop, will be the Vice Chairman and Chief Operating Officer
of Holdco. It is expected that other GameStop executive officers
will hold executive officer positions at Holdco, to be
determined and announced on or about the date of the mergers.
For further information, see &#147;Holdco Board of Directors and
Management After the Mergers&#148; below.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
For additional information about options held by certain
GameStop directors and executives, see &#147;Information about
GameStop&nbsp;&#151; Information about the Directors and
Executive Officers of GameStop&#148; on page&nbsp;99 and for
additional information on the effect of the GameStop merger on
stock options held by GameStop directors and executives, see
&#147;Treatment of Stock Options&#148; on page&nbsp;78.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Holdco Directors.</I> Pursuant to the terms of the merger
agreement, all the members of the current GameStop board will be
among the nine initial directors of the Holdco board of
directors after the mergers. James J. Kim, the current Chairman
of the Board of EB, and Stanley (Mickey) Steinberg, a current
director of EB, will also serve on the board of directors of
Holdco. GameStop directors (other than employees), Mr.&nbsp;Kim
and Mr.&nbsp;Steinberg are expected to be compensated for
serving on the Holdco board of directors in accordance with a
customary director compensation policy. For further information,
see &#147;Holdco Board of Directors and Management after the
Mergers&#148; below.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Indemnification and Insurance.</I> The merger agreement
provides that, upon completion of the mergers, Holdco will, to
the fullest extent permitted by law, indemnify and hold
harmless, and provide
</DIV>

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<DIV align="left" style="font-size: 10pt;">
advancement of expenses to, all past and present officers,
directors and employees of GameStop and its subsidiaries to the
same extent those persons were entitled to indemnification or
advancement of expenses under GameStop&#146;s certificate of
incorporation, bylaws and indemnification agreements.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The merger agreement also provides that Holdco will maintain for
a period of six years after completion of the mergers the
current directors&#146; and officers&#146; liability insurance
policies maintained by GameStop, or policies with a
substantially comparable insurer of at least the same coverage
and amounts containing terms and conditions that are no less
advantageous to the insured, with respect to claims arising from
facts or events that occurred on or before the completion of the
mergers, although Holdco will not be required to make total
premium payments in excess of 300% of the annual premiums
currently paid by GameStop for directors&#146; and
officers&#146; liability insurance.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Interests of EB Directors and Executive Officers.</I> In
considering the recommendation of the board of directors of EB
to vote for the proposal to adopt the merger agreement and the
transactions contemplated thereby, including the EB merger,
stockholders of EB should be aware that members of the EB board
of directors and members of EB&#146;s management team have
relationships, agreements or arrangements that provide them with
interests in the mergers that may be in addition to or differ
from those of EB&#146;s stockholders. The EB board of directors
was aware of these relationships, agreements and arrangements
during its deliberations on the merits of the mergers and in
making its decision to recommend to the EB stockholders that
they vote to adopt the merger agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>EB Management Positions.</I> Certain EB executive officers
may become executive officers of Holdco. It is expected that
Holdco will determine and announce which executive officers of
EB will become executive officers of Holdco on or about the date
of the mergers.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>EB Stock Options and Restricted Shares.</I> Upon completion
of the mergers, each outstanding EB stock option will be
exchanged for the right to receive cash in an amount equal to
(1)&nbsp;$38.15 <U>plus</U> (2) .78795 <U>multiplied by</U> the
average of the closing prices of GameStop Class&nbsp;A common
stock for the ten trading days prior to the closing date
<U>minus</U> (3)&nbsp;the exercise price per share of such stock
option <U>minus</U> (4)&nbsp;any applicable tax withholding.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Assuming that no options are granted or exercised after the date
of this joint proxy statement-prospectus and assuming that the
average of the ten trading day closing prices of GameStop
Class&nbsp;A common stock prior to the closing of the mergers is
$21.61, EB&#146;s directors and executive officers will be paid
an aggregate of approximately $31.0&nbsp;million for their
outstanding options to purchase EB common stock.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
For additional information about options held by certain EB
directors and executives, see &#147;Information About
EB&nbsp;&#151; Information About Directors and Executive
Officers of EB&#148; on page&nbsp;119 and for additional
information on the effect of the EB merger on stock options held
by EB directors and executives, see &#147;Treatment of Stock
Options&#148; on page&nbsp;78.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>EB Bonus Program.</I> In connection with the execution of the
merger agreement, a $10&nbsp;million bonus program was
established for certain of EB&#146;s employees who remain
employed with EB through the completion of the mergers. To be
eligible for a bonus under the program, an EB employee must be
an EB home office associate who has worked for EB for at least
one year as of August&nbsp;1, 2005 and must be employed by EB on
the date of the closing of the mergers. In June 2005, the
EB&nbsp;compensation committee adopted and approved a merger
bonus plan pursuant to the program and approved awards to
238&nbsp;employees in the aggregate amount of $9.8&nbsp;million
under the bonus plan. The EB compensation committee, in
consultation with James J. Kim, EB&#146;s Chairman of the Board,
determined the bonus amounts payable under the plan based upon
an employee&#146;s position and/or years of service with EB.
</DIV>

<P align="center" style="font-size: 10pt;">70

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Under the merger bonus plan, the eight senior officers of EB are
eligible to receive an aggregate of $4.1&nbsp;million under the
merger bonus plan, with the five named executive officers (as
defined in Item&nbsp;402 of Regulation&nbsp;S-K) of EB being
eligible to receive the following awards:
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; margin-top: 6pt; ">

<TR style="font-size: 1pt;">
    <TD width="39%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="41%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Jeffrey W. Griffiths</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    President and Chief Executive Officer</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">$</TD>
    <TD align="right" valign="top" nowrap>800,000</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    John R. Panichello</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Executive Vice President and Chief Operating Officer</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">$</TD>
    <TD align="right" valign="top" nowrap>800,000</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    James A. Smith</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Senior Vice President and Chief Financial Officer</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">$</TD>
    <TD align="right" valign="top" nowrap>600,000</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Seth P. Levy</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Senior Vice President, Logistics and Chief Information Officer</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">$</TD>
    <TD align="right" valign="top" nowrap>400,000</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Steven R. Morgan</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Senior Vice President, President of Stores- North America</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">$</TD>
    <TD align="right" valign="top" nowrap>400,000</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>
</CENTER>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Holdco Directors.</I> Pursuant to the terms of the merger
agreement, James J. Kim (currently Chairman of the Board of EB)
will be among the nine initial directors of the Holdco board of
directors after the mergers. Also pursuant to the merger
agreement, EB&#146;s board of directors has appointed Stanley
(Mickey) Steinberg (currently a director of EB) to serve on the
board of directors of Holdco. EB directors (other than
employees) who serve on the Holdco board of directors are
expected to be compensated for their services in that capacity
in accordance with a customary director compensation policy. For
further information, see &#147;Holdco Board of Directors and
Management after the Mergers&#148; below.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Indemnification and Insurance.</I> The merger agreement
provides that, upon completion of the mergers, Holdco will, to
the fullest extent permitted by law, indemnify and hold
harmless, and provide advancement of expenses to, all past and
present officers, directors and employees of EB and its
subsidiaries to the same extent those persons were entitled to
indemnification or advancement of expenses under EB&#146;s
certificate of incorporation, bylaws and indemnification
agreements.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The merger agreement also provides that Holdco will maintain for
a period of six years after completion of the mergers the
current directors&#146; and officers&#146; liability insurance
policies maintained by EB or policies with a substantially
comparable insurer of at least the same coverage and amounts
containing terms and conditions that are no less advantageous to
the insured, with respect to claims arising from facts or events
that occurred on or before the completion of the mergers,
although Holdco will not be required to make total premium
payments in excess of 300% of the annual premiums currently paid
by EB for directors&#146; and officers&#146; liability insurance.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='178'></A>
</DIV>

<!-- link1 "Holdco Board of Directors and Management after the Mergers" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Holdco Board of Directors and Management after the Mergers</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Holdco Board of Directors.</I> The board of directors of
Holdco after the mergers will have at least nine members,
consisting of the current GameStop board of directors, James J.
Kim and Stanley (Mickey) Steinberg. The GameStop directors will
generally remain in their current classes and serve out their
remaining terms, although to make the three classes equal, one
of the Class&nbsp;III directors being elected at the GameStop
annual meeting (Daniel A. DeMatteo, if he is re-elected) will
become a Class&nbsp;I director whose term will expire in 2006.
Mr.&nbsp;Kim will be in the class of directors whose term
expires in 2007 and Mr.&nbsp;Steinberg will be in the class of
directors whose term expires in 2008.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
For more information on the members of the GameStop board of
directors who will be members of the Holdco board of directors,
see &#147;Information about GameStop&nbsp;&#151; Information
about the Board of Directors and Executive Officers of
GameStop&#148; on page&nbsp;99. For more information on James J.
Kim and
</DIV>


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<DIV align="left" style="font-size: 10pt;">
Stanley (Mickey) Steinberg, see &#147;Information about
EB&nbsp;&#151; Information about the Board of Directors and
Executive Officers of EB&#148; on page&nbsp;119.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Committees of the Holdco Board of Directors.</I> Upon
completion of the mergers, the board of directors of Holdco will
initially have the following three committees: Audit Committee,
Compensation Committee and Nominating and Corporate Governance
Committee. Each of these committees will comply with the
independence requirements of the NYSE.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The table below reflects the membership for each committee upon
the completion of the mergers:
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; margin-top: 6pt; ">

<TR style="font-size: 1pt;">
    <TD width="61%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Nominating</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>and</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Corporate</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD align="left" nowrap><B>Name</B></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Audit</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Compensation</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Governance</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Leonard Riggio</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>X</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Stephanie Shern</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>X</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Gerald R. Szczepanski</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>X</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>X</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>X</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Edward A. Volkwein</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>X</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>X</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>X</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>
</CENTER>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Management.</I> Holdco&#146;s senior management that has been
designated as of the date of this joint proxy
statement-prospectus and their ages as of August&nbsp;30, 2005
are as follows:
</DIV>


<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; margin-top: 6pt; ">

<TR style="font-size: 1pt;">
    <TD width="46%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="44%">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD align="left" nowrap><B>Name</B></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Age</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap><B>Title</B></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    R. Richard Fontaine</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>63</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Chairman of the Board and Chief Executive Officer</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Daniel A. DeMatteo</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>57</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Vice Chairman and Chief Operating Officer</TD>
</TR>

</TABLE>
</CENTER>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
It is expected that additional management of Holdco will be
determined and announced on or near the date of the mergers.
Information on the members of the senior management team of
Holdco who will also serve as directors of Holdco is provided
above under &#147;Holdco Board of Directors and Management after
the Mergers&#148;.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Compensation of Directors and Other Management.</I> Holdco
has not yet paid any compensation to its directors, executive
officers or other managers. The form and amount of the
compensation to be paid to each of Holdco&#146;s directors,
executive officers and other managers will be determined by the
Holdco board of directors as soon as practicable immediately
prior to or following the completion of the mergers.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Information concerning the compensation paid to, and the
employment agreements with, the GameStop Chief Executive Officer
and the other four most highly compensated executive officers of
GameStop for the 2004 fiscal year is contained in
&#147;Information about GameStop&nbsp;&#151; Information about
the Board of Directors and Executive Officers of GameStop&#148;
on page&nbsp;99. Information concerning the compensation paid
to, and the employment agreements with, R. Richard Fontaine, the
current Chairman and Chief Executive Officer of GameStop, and
Daniel A. DeMatteo, the current Vice Chairman and Chief
Operating Officer, is contained in &#147;Information about
GameStop&nbsp;&#151; Information about the Board of Directors
and Executive Officers of GameStop&#148; on page&nbsp;99 and
&#147;Information about GameStop&nbsp;&#151;
GameStop&nbsp;&#151; Certain Relationships and Related
Transactions&#148; on page&nbsp;113. Information concerning the
compensation paid to the Chief Executive Officer and the other
four most highly compensated executive officers of EB for the
2004 fiscal year is contained in &#147;Information about
EB&nbsp;&#151; Information about the Board of Directors and
Executive Officers of EB&#148; on page&nbsp;119.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Registered Independent Public Accounting Firm.</I> It is
expected that upon completion of the mergers, BDO Seidman, LLP
will act as Holdco&#146;s registered independent public
accounting firm for Holdco&#146;s fiscal year ending
January&nbsp;28, 2006.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='179'></A>
</DIV>

<!-- link1 "Material United States Federal Income Tax Consequences" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Material United States Federal Income Tax Consequences</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The following is a discussion of the material United States
federal income tax consequences of the mergers to
U.S.&nbsp;holders of GameStop common stock and U.S.&nbsp;holders
of EB common stock, in each case
</DIV>

<P align="center" style="font-size: 10pt;">72

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<DIV align="left" style="font-size: 10pt;">
who hold such stock as a capital asset. The following discussion
was prepared based on consultation with both Bryan Cave LLP,
counsel to GameStop, and Klehr, Harrison, Harvey,
Branzburg&nbsp;&#38; Ellers LLP, counsel to EB. In the opinion
of Bryan Cave LLP, as it relates to GameStop and
U.S.&nbsp;holders of GameStop common stock, and Klehr, Harrison,
Harvey, Branzburg&nbsp;&#38; Ellers LLP, as it relates to EB and
U.S.&nbsp;holders of EB common stock, the following discussion,
to the extent it constitutes matters of law or legal conclusions
(assuming the facts, representations and assumptions upon which
the discussion is based are accurate), is accurate in all
material respects. The discussion is based on the Code, Treasury
regulations thereunder, and administrative rulings and court
decisions in effect as of the date hereof, all of which are
subject to change at any time, possibly with retroactive effect.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
For purposes of this discussion, the term
&#147;U.S.&nbsp;holder&#148; means:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    a citizen or resident of the United States;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    a corporation created or organized under the laws of the United
    States or any of its political subdivisions;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    a trust that (1)&nbsp;is subject to the primary supervision of a
    court within the United States with respect to its
    administration and is subject to the control of one or more
    United States persons with respect to all of its substantial
    decisions or (2)&nbsp;has a valid election in effect under
    applicable United States Treasury regulations to be treated as a
    United States person;&nbsp;or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    an estate that is subject to United States federal income tax on
    its income regardless of its source.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If a partnership holds GameStop common stock or EB common stock,
the tax treatment of a partner will generally depend on the
status of the partner and the activities of the partnership. If
a U.S.&nbsp;holder is a partner in a partnership holding
GameStop common stock or EB common stock, the U.S.&nbsp;holder
should consult its tax advisors.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
This discussion is not a complete description of all the
consequences of the mergers and, in particular, may not address
United States federal income tax considerations applicable to
stockholders subject to special treatment under United States
federal income tax law (including, for example,
non-U.S.&nbsp;holders, financial institutions, dealers in
securities, insurance companies or tax-exempt entities, 401(k)
plans, holders who acquired GameStop common stock or EB common
stock pursuant to the exercise of an employee stock option or
right or otherwise as compensation, and holders who hold
GameStop common stock or EB common stock as part of a hedge,
straddle or conversion transaction). This discussion does not
address the tax consequences of any transaction other than the
mergers. Also, this discussion does not address United States
federal income tax considerations applicable to holders of
options or warrants to purchase GameStop, EB or Holdco common
stock, or holders of debt instruments convertible into GameStop,
EB or Holdco common stock. In addition, no information is
provided herein with respect to the tax consequences of the
mergers under applicable state, local or non-United States laws,
or under any proposed Treasury regulations that have not taken
effect as of the date of this joint proxy statement-prospectus.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
HOLDERS OF GAMESTOP COMMON STOCK OR EB COMMON STOCK ARE URGED TO
CONSULT WITH THEIR TAX ADVISORS REGARDING THE TAX CONSEQUENCES
OF THE MERGERS TO THEM, INCLUDING THE EFFECTS OF UNITED STATES
FEDERAL, STATE AND LOCAL, FOREIGN AND OTHER TAX LAWS.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The obligations of GameStop and EB to consummate the mergers are
conditioned on the receipt of opinions of their respective tax
counsel, Bryan Cave LLP (as to GameStop) and Klehr, Harrison,
Harvey, Branzburg&nbsp;&#38; Ellers LLP (as to EB), dated the
effective date of the mergers (each, a Tax Opinion), to the
effect that the exchange of EB common stock and GameStop common
stock for Holdco common stock pursuant to the mergers, taken
together, will be treated for United States income tax purposes
as a transaction described in Section&nbsp;351 of the Code. Each
of the Tax Opinions will be subject to customary qualifications
and assumptions, including that the mergers will be completed
according to the terms of the merger agreement. In rendering the
Tax Opinions, each counsel may require and rely upon
representations
</DIV>

<P align="center" style="font-size: 10pt;">73

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<DIV align="left" style="font-size: 10pt;">
and covenants including those contained in the certificates of
officers of GameStop, EB, Holdco and others. Although the merger
agreement allows each of GameStop and EB to waive this condition
to closing, neither GameStop nor EB currently anticipates doing
so. In the unlikely event that either GameStop or EB does waive
this condition, then the party waiving such condition will
inform its stockholders of this decision and ask the affected
stockholders to vote on the mergers taking this into
consideration if there are any material adverse changes in the
U.S.&nbsp;federal income tax consequences to such stockholders.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Tax Opinions are not binding on the IRS or the courts, and
the parties do not intend to request a ruling from the IRS with
respect to the mergers. Accordingly, there can be no assurance
that the IRS will not challenge the conclusions set forth in the
Tax Opinions or that a court will not sustain such a challenge.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The following discussion assumes that the exchange of EB common
stock and GameStop common stock for Holdco common stock pursuant
to the mergers, taken together, will constitute an exchange
described in Section&nbsp;351 of the Code. The following
discussion is not binding on the IRS.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Federal Income Tax Consequences to GameStop Stockholders</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Because a holder of GameStop common stock will receive solely
Holdco common stock in exchange for its GameStop common stock in
the GameStop merger, the holder of GameStop common stock will
not recognize gain or loss upon the exchange. The aggregate tax
basis of the Holdco common stock the holder of GameStop common
stock receives will be equal to the aggregate tax basis of the
GameStop common stock the holder surrenders, and the holding
period of the Holdco common stock will include the holder&#146;s
holding period of the GameStop common stock surrendered.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Federal Income Tax Consequences to EB Stockholders</B>
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I>Exchange of EB Common Stock for a Combination of Holdco
    Common Stock and Cash</I></B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The tax consequences of the EB merger to holders of EB common
stock could be different from those described below if persons
who own at least 50% of the vote or value of the outstanding EB
common stock immediately before the acquisition own at least 50%
of the vote or value of the outstanding Holdco common stock
immediately after the transaction. For such overlapping
ownership to occur it would be necessary for the holders of EB
common stock to own more than 30.6% of the total value of
GameStop&#146;s outstanding common stock immediately prior to
the mergers, which would convert into more than 22.4% of the
value of Holdco common stock in the mergers, in addition to the
approximately 27.6% of Holdco common stock to be received by the
EB stockholders in exchange for their EB common stock. In that
event, cash received by a holder of EB common stock in the
transaction might be treated as a dividend rather than capital
gain. The IRS has indicated, however, that, in the case of a
minority stockholder in a publicly held corporation whose
relative stock interest is minimal and who exercises no control
over the corporation&#146;s affairs, a minimal reduction in the
percentage of stock owned by such stockholder will avoid
dividend treatment. Accordingly, cash received by such a holder
of EB common stock whose percentage interest in Holdco common
stock is less than the holder&#146;s percentage interest in EB
common stock prior to the transaction should not be treated as
constituting a dividend. For purposes of determining such
percentages, stock owned by certain persons related to the
holder or which the holder can acquire pursuant to the exercise
of options would be treated as owned by the holder. The
discussion below is based upon the understanding that no such
overlapping ownership will occur.
</DIV>

<P align="center" style="font-size: 10pt;">74

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The material U.S.&nbsp;federal income tax consequences to a
U.S.&nbsp;holder of EB common stock who receives both cash and
Holdco common stock in the EB merger are determined under
Section&nbsp;351 of the Code, in general, as follows:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    gain will be recognized on the exchange of EB common stock for a
    combination of cash and Holdco common stock pursuant to the EB
    merger equal to the lesser of:</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="6%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (i)&nbsp;the excess of the sum of the fair market value of the
    Holdco common stock and the amount of cash received by the
    U.S.&nbsp;holder of EB common stock in the EB merger over the
    U.S.&nbsp;holder&#146;s adjusted tax basis in its EB common
    stock surrendered in the EB merger,&nbsp;and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (ii)&nbsp;the amount of cash received by the U.S.&nbsp;holder in
    the EB merger;</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    no loss will be recognized by a U.S.&nbsp;holder of EB common
    stock who receives a combination of cash and Holdco common stock
    in the EB merger;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the aggregate adjusted basis of the Holdco common stock received
    in the EB merger will be equal to the aggregate adjusted basis
    of the EB common stock surrendered, reduced by the amount of
    cash the U.S.&nbsp;holder of EB common stock receives and
    increased by the amount of gain that the U.S.&nbsp;holder of EB
    common stock recognizes;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the holding period of the Holdco common stock received in the EB
    merger should include the holding period of the EB common stock
    exchanged for such Holdco common stock;&nbsp;and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    in the case of a U.S.&nbsp;holder who acquired different blocks
    of EB common stock at different times and at different prices,
    any gain or loss will be determined separately with respect to
    each block of EB common stock, and the cash received will be
    allocated pro rata to each such block of stock, and such a
    holder should consult with its tax advisor regarding the manner
    in which the above rules would apply to such U.S.&nbsp;holder.</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I>Cash In Lieu of Fractional Shares</I></B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The receipt of cash in lieu of a fractional share of Holdco
common stock by a U.S.&nbsp;holder of EB common stock may be
treated as if the holder received the fractional shares in the
EB merger and then received the cash in a redemption of the
fractional shares, in which case the holder should generally
recognize gain or loss equal to the difference between the
amount of such cash received and the holder&#146;s adjusted tax
basis allocable to such fractional share. It is possible,
however, that the receipt of cash in lieu of fractional shares
may be treated as cash received in exchange for EB common stock
as described above under &#147;Exchange of EB Common Stock for a
Combination of Holdco Common Stock and Cash.&#148;
</DIV>

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I>Taxation of Capital Gain or Loss</I></B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Gain or loss recognized by a U.S.&nbsp;holder in connection with
the EB merger will generally constitute capital gain or loss,
and any such capital gain or loss will constitute long-term
capital gain or loss if the U.S.&nbsp;holder&#146;s holding
period with respect to its EB common stock is greater than one
year as of the date of the EB merger. For non-corporate
U.S.&nbsp;holders, this long-term capital gain generally will be
taxed at a maximum U.S.&nbsp;federal income tax rate of 15%. The
deductibility of capital losses is subject to limits.
</DIV>

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I>Backup Withholding</I></B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Backup withholding may apply with respect to the cash
consideration received by holders of EB common stock, unless
such holder:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    is a corporation or comes within certain other exempt categories
    and, when required, demonstrates this fact;&nbsp;or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    provides a correct taxpayer identification number, certifies as
    to no loss of exemption from backup withholding and that such
    holder is a U.S.&nbsp;person (including a U.S.&nbsp;resident
    alien) and otherwise complies with applicable requirements of
    the backup withholding rules.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">75

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
A holder of EB common stock who provides Holdco (or the exchange
agent) with an incorrect taxpayer identification number may be
subject to penalties imposed by the IRS. Any amounts withheld
under the backup withholding rules may be allowed as a refund or
a credit against the holder&#146;s federal income tax liability,
provided that the holder furnishes certain required information
to the IRS.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Reporting Requirements</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
U.S.&nbsp;holders of EB common stock or GameStop common stock
receiving Holdco common stock as a result of the mergers will be
required to attach to their income tax returns for the taxable
year in which the closing of the transaction occurs, and
maintain a permanent record of, a complete statement of all the
facts relating to the exchange of stock in connection with the
transaction. The facts to be disclosed by a U.S.&nbsp;holder
include the U.S.&nbsp;holder&#146;s basis in the EB common stock
or the GameStop common stock, as the case may be, transferred to
Holdco, the number of shares of Holdco common stock received in
the transaction, the fair market value per share (as of the
exchange date) of each class of Holdco common stock received in
the transaction and, in the case of a holder of EB common stock,
the amount of cash received in the transaction.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>This discussion under &#147;Material United States Federal
Income Tax Consequences&#148; does not address tax consequences
that may vary with, or are contingent on, individual
circumstances. Moreover, it does not address any non-income tax
or any foreign, state or local tax consequences of the mergers.
Tax matters are very complicated, and the tax consequences of
the mergers to you will depend upon the facts of your particular
situation. Accordingly, we strongly urge you to consult with a
tax advisor to determine the particular federal, state, local,
or foreign income or other tax consequences to you of the
mergers.</B>
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='180'></A>
</DIV>

<!-- link1 "Accounting Treatment" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Accounting Treatment</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The business combination will be accounted for as a
&#147;purchase&#148; by GameStop of EB, as that term is used
under GAAP, for accounting and financial reporting purposes.
GameStop and EB have determined that the business combination
will be accounted for as an acquisition by GameStop of EB. In
identifying GameStop as the acquiring entity, the companies took
into account the relative outstanding share ownership, the
composition of the governing body of the combined entity and the
designation of certain senior management positions. As a result,
the historical financial statements of GameStop will become the
historical financial statements of Holdco. The assets (including
identifiable intangible assets) and liabilities (including
executory contracts and other commitments) of EB as of the
effective time of the mergers will be recorded at their
respective fair market values and added to those of GameStop.
Any excess of purchase price over the net fair values of
EB&#146;s assets and liabilities is recorded as goodwill (excess
purchase price). Any excess of the fair value of EB&#146;s net
assets over the purchase price will be allocated as a pro rata
reduction of the amounts that would otherwise have been assigned
to certain of EB&#146;s non-current assets acquired. Financial
statements of Holdco issued after the mergers will reflect such
fair values and will not be restated retroactively to reflect
the historical financial position or results of operations of
EB. The results of operations of EB will be included in the
results of operations of Holdco beginning on the effective date
of the mergers. See &#147;GSC Holdings Corp. Unaudited Pro Forma
Condensed Consolidated Financial Data&#148; beginning on
page&nbsp;134 for more information.
</DIV>


<DIV align="left" style="font-size: 10pt;">
<A name='181'></A>
</DIV>

<!-- link1 "Regulatory Approvals" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Regulatory Approvals</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>U.S.&nbsp;Antitrust Clearance.</I> Under the HSR Act, and the
rules promulgated thereunder by the Federal Trade Commission
(FTC), the mergers could not be consummated until notifications
have been given and certain information has been furnished to
the FTC and the Antitrust Division of the United States
Department of Justice (the Antitrust Division) and specified
waiting period requirements had been satisfied. The HSR Act
waiting period expired at 11:59&nbsp;p.m. Eastern Time on
June&nbsp;8, 2005. Both before and after the expiration of the
HSR waiting period, the FTC and the Antitrust Division retain
the authority to challenge the mergers on antitrust grounds. In
addition, each state in which GameStop or EB operates may also
seek to review the mergers. It is possible that some of these
authorities may seek to challenge the mergers.
</DIV>

<P align="center" style="font-size: 10pt;">76

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Italy.</I> Under the Italian Law No.&nbsp;287 of 10 October,
1990, GameStop and EB are required to file a notification with
respect to the proposed mergers. The Italian Competition
Authority (the Authority) may order the parties not to proceed
with the transaction until its review is completed. The
Authority must either commence an investigation or notify the
parties of its decision not to investigate within 30&nbsp;days
of receiving a formal notification. GameStop and EB filed a
formal notification with the Authority and received notification
from the Authority that it would not investigate the proposed
mergers.
</DIV>


<DIV align="left" style="font-size: 10pt;">
<A name='182'></A>
</DIV>

<!-- link1 "Conversion of Shares; Exchange of Certificates; Dividends; Withholding" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Conversion of Shares; Exchange of Certificates; Dividends;
Withholding</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Conversion and Exchange of Shares.</I> The conversion of
GameStop shares and EB shares into the right to receive the
applicable merger consideration will occur automatically at the
effective time of the mergers. The exchange agent will, as soon
as reasonably practicable after the effective time of the
mergers, exchange certificates representing GameStop and EB
shares for the applicable merger consideration to be received in
the mergers pursuant to the terms of the merger agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Letter of Transmittal.</I> Promptly after the completion of
the mergers, the exchange agent will send a letter of
transmittal to those persons who were record holders of GameStop
shares holding certificated shares at the effective time of the
GameStop merger and record holders of EB shares holding
certificated shares at the effective time of the EB merger. This
mailing will contain instructions on how to surrender
certificates representing GameStop shares and EB shares in
exchange for the applicable merger consideration the holder is
entitled to receive under the merger agreement. When you deliver
your GameStop stock certificates or EB stock certificates to the
exchange agent along with a properly executed letter of
transmittal and any other required documents, your stock
certificates will be cancelled. If you hold GameStop or EB
shares in book-entry form, your book-entry shares will
automatically be exchanged for book-entry shares of Holdco (and
in the case of EB stockholders, the right to receive cash) and
you will not receive a letter of transmittal. Whether you hold
GameStop or EB shares in certificated or book-entry form, unless
you request otherwise, Holdco will not issue new certificates
and your shares of Holdco common stock will be in book-entry
form.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
DO NOT SUBMIT YOUR GAMESTOP OR EB STOCK CERTIFICATES FOR
EXCHANGE UNTIL YOU RECEIVE THE TRANSMITTAL INSTRUCTIONS AND
LETTER OF TRANSMITTAL FROM THE EXCHANGE AGENT.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If a certificate for GameStop common stock or EB common stock
has been lost, stolen or destroyed, the exchange agent will
issue the applicable merger consideration properly payable under
the merger agreement upon compliance by the applicable
stockholder with the replacement requirements established by the
exchange agent.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Fractional Shares.</I> You will not receive fractional shares
of Holdco&#146;s common stock in connection with the EB merger.
Instead, each holder of EB shares exchanged in the EB merger who
would otherwise have received a fraction of a share of Holdco
common stock will receive cash in an amount determined by
multiplying the fractional interest to which such holder would
otherwise be entitled by the average of the closing prices for a
share of GameStop Class&nbsp;A common stock as reported on the
NYSE for the ten trading days immediately prior to the closing
date of the mergers. Because each share of GameStop Class&nbsp;A
common stock and GameStop Class&nbsp;B common stock is being
exchanged for a share of Holdco Class&nbsp;A common stock and
Holdco Class&nbsp;B common stock, respectively, on a one-for-one
basis, no fractional shares will arise as a result of that
exchange.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Dividends and Distributions.</I> Until GameStop stock
certificates or book-entry shares or EB stock certificates or
book-entry shares are surrendered for exchange, any dividends or
other distributions declared after the effective time of the
mergers with respect to shares of Holdco common stock into which
GameStop shares or EB shares may have been converted will accrue
but will not be paid. Holdco will pay to former GameStop
stockholders and EB stockholders any unpaid dividends or other
distributions, without interest, only after they have duly
surrendered their stock certificates or book-entry shares. After
the effective time of the mergers, there will be no transfers on
the stock transfer books of GameStop or EB of any GameStop
shares or EB shares, respectively. If GameStop stock
certificates or book-entry shares or
</DIV>

<P align="center" style="font-size: 10pt;">77

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<DIV align="left" style="font-size: 10pt;">
EB stock certificates or book-entry shares are presented for
transfer after the completion of the mergers, they will be
cancelled and exchanged for the applicable merger consideration
into which such certificates or book-entry shares have been
converted pursuant to the merger agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Withholding.</I> Holdco or the exchange agent will be
entitled to deduct and withhold from the merger consideration
payable to any GameStop stockholder or EB stockholder the
amounts it is required to deduct and withhold under the Code or
any provision of any state, local or foreign tax law. If the
exchange agent withholds any amounts, these amounts will be
treated for all purposes of the mergers as having been paid to
the stockholders from whom they were withheld.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='183'></A>
</DIV>

<!-- link1 "Treatment of Stock Options" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Treatment of Stock Options</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Upon the completion of the GameStop merger, each option held by
directors and executives of GameStop to purchase shares of
GameStop Class&nbsp;A common stock (whether vested or unvested)
will be converted into the right to purchase the same number of
shares of Holdco Class&nbsp;A common stock at an exercise price
per share equal to the exercise price per share of the GameStop
Class&nbsp;A common stock subject to the option before the
conversion and will continue to be governed by its applicable
terms. Substantially all of the GameStop stock options are held
by GameStop directors and GameStop employees.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Upon completion of the mergers, each outstanding EB stock option
will be exchanged for the right to receive cash in an amount
equal to (1)&nbsp;$38.15 <U>plus</U> (2) .78795 <U>multiplied
by</U> the average of the closing prices of GameStop
Class&nbsp;A common stock for the ten trading days prior to the
closing date of the mergers <U>minus</U> (3)&nbsp;the exercise
price per share of such stock option <U>minus</U> (4)&nbsp;any
applicable tax withholding.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='184'></A>
</DIV>

<!-- link1 "Restrictions on Sales of Shares by Affiliates of GameStop and EB" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Restrictions on Sales of Shares by Affiliates of GameStop and
EB</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The shares of Holdco common stock to be issued in connection
with the mergers will be registered under the Securities Act of
1933, as amended, and will be freely transferable under the
Securities Act, except for shares of Holdco common stock issued
to any person who is deemed to be an &#147;affiliate&#148; of
GameStop or EB at the time of the applicable annual meeting.
Persons who may be deemed to be affiliates include individuals
or entities that control, are controlled by, or are under the
common control of either GameStop or EB and may include our
executive officers and directors, as well as our significant
stockholders. Affiliates may not sell their shares of Holdco
common stock acquired in connection with the mergers except
pursuant to:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    an effective registration statement under the Securities Act
    covering the resale of those shares;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    an exemption under paragraph&nbsp;(d)&nbsp;of Rule&nbsp;145
    under the Securities Act;&nbsp;or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    any other applicable exemption under the Securities Act.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Both GameStop and EB expect that each of their affiliates will
agree with Holdco that the affiliate will not transfer any
shares of stock received in the mergers except in compliance
with the Securities Act. This joint proxy statement-prospectus
does not cover resales of Holdco common stock by affiliates of
GameStop, EB or Holdco.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Under the registration rights agreement, once the registration
statement required thereunder is declared effective by the SEC,
the Kim Group will be free to sell their shares in Holdco
without restriction. For further information, see &#147;Risk
Factors&nbsp;&#151; &#147;Market overhang&#148; could depress
the market price of Holdco Class&nbsp;A common stock&#148; on
page&nbsp;21.
</DIV>


<P align="center" style="font-size: 10pt;">78

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<DIV align="left" style="font-size: 10pt;">
<A name='185'></A>
</DIV>

<!-- link1 "Stock Exchange Listing and Stock Prices" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Stock Exchange Listing and Stock Prices</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
We have applied for the following shares of Holdco to be quoted
on the NYSE upon the completion of the mergers:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    Holdco common stock to be issued in the mergers;&nbsp;and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    Holdco common stock reserved for issuance upon exercise of
    GameStop stock options and Holdco stock options.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The following table sets forth, for the periods indicated, the
high and low sale prices per share of GameStop Class&nbsp;A
common stock, GameStop Class&nbsp;B common stock and EB common
stock as reported on the NYSE Composite Tape and on the NASDAQ
National Market, respectively.
</DIV>


<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; margin-top: 6pt; ">

<TR style="font-size: 1pt;">
    <TD width="3%">&nbsp;</TD>
    <TD width="48%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
</TR>


<TR style="font-size: 8pt;">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap><B>GameStop</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap><B>GameStop</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="7">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap><B>Class&nbsp;A</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap><B>Class&nbsp;B</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap><B>EB</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap><B>Common Stock</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap><B>Common Stock</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap><B>Common Stock</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD colspan="2" align="left" nowrap><B>Fiscal Quarter</B></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>High</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Low</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>High</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Low</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>High</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Low</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    For the Fiscal Year Ended January&nbsp;31, 2004</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    First Quarter</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>13.00</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>7.59</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>19.57</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>11.96</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Second Quarter</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>14.85</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>11.55</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>27.42</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>18.08</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Third Quarter</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>18.92</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>12.66</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>34.80</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>24.77</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Fourth Quarter</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>18.57</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>14.30</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>28.07</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>19.60</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    For the Fiscal Year Ended January&nbsp;29, 2005</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    First Quarter</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>18.65</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>16.29</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>29.94</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>24.87</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Second Quarter</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>18.18</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>14.54</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>28.40</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>23.25</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Third Quarter</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>20.23</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>14.87</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>35.37</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>23.50</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Fourth Quarter</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>23.50</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>18.68</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>24.00</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>18.75</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>43.75</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>33.74</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    For the Fiscal Year Ending January&nbsp;28, 2006</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    First Quarter</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>25.70</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>18.53</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>25.20</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>18.65</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>56.80</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>34.51</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Second Quarter</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>36.17</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>24.62</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>33.76</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>23.08</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>66.15</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>55.54</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Third Quarter (through September&nbsp;1, 2005)</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>35.14</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>28.60</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>32.50</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>26.55</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>65.33</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>60.21</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>
</CENTER>


<DIV align="left" style="font-size: 10pt;">
<A name='186'></A>
</DIV>

<!-- link1 "Rights of Dissenting Stockholders" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Rights of Dissenting Stockholders</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Appraisal rights are statutory rights that enable stockholders
to dissent from an extraordinary transaction, such as a merger,
and to demand that the corporation pay the fair value for their
shares as determined by a court in a judicial proceeding instead
of receiving the consideration offered to stockholders in
connection with the extraordinary transaction. Appraisal rights
are not available in all circumstances, and exceptions to these
rights are provided under the Delaware law, the state of
incorporation of GameStop and EB. As a result of these
exceptions, stockholders of GameStop are not entitled to
appraisal rights in connection with the GameStop merger. If the
EB merger is consummated, holders of shares of EB common stock
are entitled to appraisal rights under Section&nbsp;262 of the
DGCL, provided that they comply with the conditions established
by Section&nbsp;262.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;262 is reprinted in its entirety as
<U>Annex&nbsp;J</U> to this joint proxy statement-prospectus.
The following discussion is not a complete statement of the law
relating to appraisal rights and is qualified in its entirety by
reference to <U>Annex&nbsp;J</U>. This discussion and
<U>Annex&nbsp;J</U> should be reviewed carefully by any holder
who wishes to exercise statutory appraisal rights or who wishes
to preserve the right to do so, as failure to comply with the
procedures set forth herein or therein will result in the loss
of appraisal rights.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
A record holder of shares of EB common stock who makes the
demand described below with respect to such shares, who
continuously is the record holder of such shares through the
effective time of the EB merger, who otherwise complies with the
statutory requirements of Section&nbsp;262 and who neither votes
in favor of the EB merger nor consents thereto in writing will
be entitled to an appraisal by the Delaware
</DIV>

<P align="center" style="font-size: 10pt;">79
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV align="left" style="font-size: 10pt;">
Court of Chancery of the fair value of his or her shares of EB
common stock. All references in this summary of appraisal rights
to a &#147;stockholder&#148; or &#147;holders of shares of EB
common stock&#148; are to the record holder or holders of shares
of EB common stock. Except as set forth herein, stockholders of
EB will not be entitled to appraisal rights in connection with
the EB merger.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Under Section&nbsp;262, where a merger is to be submitted for
approval at a meeting of stockholders, such as the EB annual
meeting, not less than 20&nbsp;days prior to the meeting a
constituent corporation must notify each of the holders of its
stock for whom appraisal rights are available that such
appraisal rights are available and include in each such notice a
copy of Section&nbsp;262. This joint proxy statement-prospectus
shall constitute such notice to the record holders of EB common
stock.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Holders of shares of EB common stock who desire to exercise
their appraisal rights must not vote in favor of the EB merger
and must deliver a separate written demand for appraisal to EB
prior to the vote by the stockholders of EB common stock on the
EB merger. A demand for appraisal must be executed by or on
behalf of the EB stockholder of record and must reasonably
inform EB of the identity of the EB stockholder of record and
that such stockholder intends thereby to demand appraisal of the
EB common stock. A proxy or vote against the EB merger will not
by itself constitute such a demand. Within ten days after the
effective time, EB must provide notice of the effective time to
all EB stockholders who have complied with Section&nbsp;262 and
who have not voted in favor of or consented to the EB merger.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
An EB stockholder who elects to exercise appraisal rights should
mail or deliver his or her written demand to:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Electronics Boutique Holdings Corp.</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Attn: Secretary</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    931 South Matlack Street</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    West Chester, Pennsylvania 19382</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
A person having a beneficial interest in shares of EB common
stock that are held of record in the name of another person,
such as a broker, fiduciary, depositary or other nominee, must
act promptly to cause the record holder to follow the steps
summarized herein properly and in a timely manner to perfect
appraisal rights. If the shares of EB common stock are owned of
record by a person other than the beneficial owner, including a
broker, fiduciary (such as a trustee, guardian or custodian),
depositary or other nominee, such demand must be executed by or
for the record owner. If the shares of EB common stock are owned
of record by more than one person, as in a joint tenancy or
tenancy in common, such demand must be executed by or for all
joint owners. An authorized agent, including an agent for two or
more joint owners, may execute the demand for appraisal for a
stockholder of record; however, the agent must identify the
record owner and expressly disclose the fact that, in exercising
the demand, such person is acting as agent for the record owner.
If a stockholder holds shares of EB common stock through a
broker who in turn holds the shares through a central securities
depository nominee such as Cede&nbsp;&#38; Co., a demand for
appraisal of such shares must be made by or on behalf of the
depository nominee and must identify the depository nominee as
record holder.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
A record holder, such as a broker, fiduciary, depositary or
other nominee, who holds shares of EB common stock as a nominee
for others, may exercise appraisal rights with respect to the
shares held for all or less than all beneficial owners of shares
as to which such person is the record owner. In such case, the
written demand must set forth the number of shares covered by
such demand. Where the number of shares is not expressly stated,
the demand will be presumed to cover all shares of EB common
stock outstanding in the name of such record owner.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Within 120&nbsp;days after the effective time, either EB or any
EB stockholder who has complied with the required conditions of
Section&nbsp;262 may file a petition in the Delaware Court, with
a copy served on EB in the case of a petition filed by an EB
stockholder, demanding a determination of the fair value of the
shares of all dissenting stockholders. There is no present
intent on the part of EB to file an appraisal petition and EB
stockholders seeking to exercise appraisal rights should not
assume that EB will file such a petition or that EB will
initiate any negotiations with respect to the fair value of such
shares.
</DIV>

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<DIV align="left" style="font-size: 10pt;">
Accordingly, holders of EB common stock who desire to have their
shares appraised should initiate any petitions necessary for the
perfection of their appraisal rights within the time periods and
in the manner prescribed in Section&nbsp;262. Within
120&nbsp;days after the effective time, any EB stockholder who
has theretofore complied with the applicable provisions of
Section&nbsp;262 will be entitled, upon written request, to
receive from EB a statement setting forth the aggregate number
of shares of EB common stock not voting in favor of the EB
merger and with respect to which demands for appraisal were
received by EB and the number of holders of such shares. Such
statement must be mailed (i)&nbsp;within 10&nbsp;days after the
written request therefor has been received by EB or
(ii)&nbsp;within 10&nbsp;days after the expiration of the period
for the delivery of demands as described above, whichever is
later.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If a petition for an appraisal is timely filed, at the hearing
on such petition, the Delaware Court will determine which EB
stockholders are entitled to appraisal rights. The Delaware
Court may require the EB stockholders who have demanded an
appraisal for their shares and who hold stock represented by
certificates to submit their certificates of stock to the
Register in Chancery for notation thereon of the pendency of the
appraisal proceedings; and if any EB stockholder fails to comply
with such direction, the Delaware Court may dismiss the
proceedings as to such stockholder. Where proceedings are not
dismissed, the Delaware Court will appraise the shares of EB
common stock owned by such stockholders, determining the fair
value of such shares exclusive of any element of value arising
from the accomplishment or expectation of the EB merger,
together with a fair rate of interest, if any, to be paid upon
the amount determined to be the fair value.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Although EB believes that the EB merger consideration is fair,
no representation is made as to the outcome of the appraisal of
fair value as determined by the Delaware Court and EB
stockholders should recognize that such an appraisal could
result in a determination of a value higher or lower than, or
the same as, the EB merger consideration. Moreover, EB does not
anticipate offering more than the EB merger consideration to any
EB stockholder exercising appraisal rights and reserves the
right to assert, in any appraisal proceeding, that, for purposes
of Section&nbsp;262, the &#147;fair value&#148; of a share of EB
common stock is less than the EB merger consideration. In
determining &#147;fair value,&#148; the Delaware Court is
required to take into account all relevant factors. In
<U>Weinberger&nbsp;v. UOP, Inc</U>. the Delaware Supreme Court
discussed the factors that could be considered in determining
fair value in an appraisal proceeding, stating that &#147;proof
of value by any techniques or methods which are generally
considered acceptable in the financial community and otherwise
admissible in court&#148; should be considered and that
&#147;[f]air price obviously requires consideration of all
relevant factors involving the value of a company.&#148; The
Delaware Supreme Court has stated that in making this
determination of fair value the court must consider market
value, asset value, dividends, earnings prospects, the nature of
the enterprise and any other facts which could be ascertained as
of the date of the merger which throw any light on future
prospects of the merged corporation. Section&nbsp;262 provides
that fair value is to be &#147;exclusive of any element of value
arising from the accomplishment or expectation of the
merger.&#148; In <U>Cede&nbsp;&#38; Co.&nbsp;v. Technicolor,
Inc</U>., the Delaware Supreme Court stated that such exclusion
is a &#147;narrow exclusion [that] does not encompass known
elements of value,&#148; but which rather applies only to the
speculative elements of value arising from such accomplishment
or expectation. In <U>Weinberger</U>, the Delaware Supreme Court
construed Section&nbsp;262 to mean that &#147;elements of future
value, including the nature of the enterprise, which are known
or susceptible of proof as of the date of the merger and not the
product of speculation, may be considered.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The cost of the appraisal proceeding may be determined by the
Delaware Court and taxed against the parties as the Delaware
Court deems equitable in the circumstances. However, costs do
not include attorneys&#146; and expert witness fees. Each
dissenting EB stockholder is responsible for his or her
attorneys&#146; and expert witness expenses, although, upon
application of a dissenting stockholder of EB, the Delaware
Court may order that all or a portion of the expenses incurred
by any dissenting stockholder in connection with the appraisal
proceeding, including without limitation, reasonable
attorneys&#146; fees and the fees and expenses of experts, be
charged pro rata against the value of all shares of stock
entitled to appraisal.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Any holder of shares of EB common stock who has duly demanded
appraisal in compliance with Section&nbsp;262 will not, after
the effective time, be entitled to vote for any purpose any
shares subject to such
</DIV>

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<DIV align="left" style="font-size: 10pt;">
demand or to receive payment of dividends or other distributions
on such shares, except for dividends or distributions payable to
EB stockholders of record at a date prior to the effective time.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
At any time within 60&nbsp;days after the effective time, any EB
stockholder will have the right to withdraw such demand for
appraisal and to accept the terms offered in the EB merger;
after this period, the EB stockholder may withdraw such demand
for appraisal only with the consent of EB. If no petition for
appraisal is filed with the Delaware Court within 120&nbsp;days
after the effective time, EB stockholders&#146; rights to
appraisal shall cease, and all holders of shares of EB common
stock will be entitled to receive the consideration offered
pursuant to the merger agreement. Inasmuch as EB has no
obligation to file such a petition, and EB has no present
intention to do so, any holder of shares of EB common stock who
desires such a petition to be filed is advised to file it on a
timely basis. Any EB stockholder may withdraw such
stockholder&#146;s demand for appraisal by delivering to EB a
written withdrawal of his or her demand for appraisal and
acceptance of the EB merger consideration, except (i)&nbsp;that
any such attempt to withdraw made more than 60&nbsp;days after
the effective time will require written approval of EB and
(ii)&nbsp;that no appraisal proceeding in the Delaware Court
shall be dismissed as to any EB stockholder without the approval
of the Delaware Court, and such approval may be conditioned upon
such terms as the Delaware Court deems just.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='187'></A>
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Delisting and Deregistration of GameStop and EB Stock after
the Mergers</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
When the mergers are completed, the GameStop Class&nbsp;A common
stock and GameStop Class&nbsp;B common stock currently quoted on
the NYSE will cease to be quoted on the NYSE and will be
deregistered under the Securities Exchange Act of 1934, as
amended (the Exchange Act), and the EB common stock currently
listed on the NASDAQ National Market will be delisted from the
NASDAQ National Market and will be deregistered under the
Exchange Act.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='188'></A>
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>The Merger Agreement</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>This section of the joint proxy statement-prospectus
describes the material terms of the merger agreement. The
following summary is qualified in its entirety by reference to
the complete text of the merger agreement, which is incorporated
by reference and attached as <U>Annex&nbsp;A</U> to this joint
proxy statement-prospectus. We urge you to read the full text of
the merger agreement.</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>The merger agreement has been included for your convenience
to provide you with information regarding its terms, and we
recommend that you read it in its entirety. Except for its
status as the contractual document that establishes and governs
the legal relations between GameStop and EB with respect to the
mergers, we do not intend for its text to be a source of
factual, business or operational information about either
GameStop or EB. That kind of information can be found elsewhere
in this joint proxy statement-prospectus and in the other public
filings each of us makes with the SEC, which are available
without charge at the SEC&#146;s website (www.sec.gov). See
&#147;Where You Can Find More Information&#148; beginning on
page&nbsp;162.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>The merger agreement contains representations and warranties
we have made to each other. Those representations and warranties
are qualified in several important respects, which you should
consider as you read them in the merger agreement.</B>
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

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    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
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    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    <B>First, except for the parties themselves, under the terms of
    the merger agreement only certain other specifically identified
    persons are third-party beneficiaries of the merger agreement
    who may enforce it and rely on its terms. As GameStop and EB
    stockholders, you are not third-party beneficiaries of the
    merger agreement and therefore may not directly enforce or rely
    upon its terms and conditions.</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    <B>Second, the representations and warranties are qualified in
    their entirety by schedules each of us prepared and delivered to
    the other immediately prior to signing the merger agreement.</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    <B>Third, all of the representations and warranties that deal
    with the business and operations of GameStop and EB are
    qualified to the extent that any inaccuracy would not reasonably
    be</B></TD>
</TR>

</TABLE>

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    <TD></TD>
    <TD align="left">
    <B>expected to have or result in, individually or in the
    aggregate, a material adverse effect on the party making the
    representation and warranty.</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    <B>Fourth, none of the representations or warranties will
    survive the closing of the mergers and they will therefore have
    no legal effect among the parties to the merger agreement after
    the closing, nor will the parties be able to assert the
    inaccuracy of the representations and warranties as a basis for
    refusing to close unless all such inaccuracies would reasonably
    be expected to have or result in, individually or in the
    aggregate, a material adverse effect on the party that made the
    representations and warranties. Otherwise, for purposes of the
    merger agreement, the representations and warranties will be
    deemed to have been sufficiently accurate to require a
    closing.</B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>Moreover, information concerning the subject matter of the
representations and warranties may have changed since the date
of the merger agreement, and subsequently developed or new
information qualifying a representation or warranty may have
been included in a filing with the SEC made since the date of
the merger agreement (including in this joint proxy
statement-prospectus).</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
On April&nbsp;17, 2005, GameStop Corp., GameStop, Inc., GSC
Holdings Corp., Eagle Subsidiary LLC, Cowboy Subsidiary LLC and
Electronics Boutique Holdings Corp. entered into an Agreement
and Plan of Merger.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Completion of the Mergers.</I> Upon completion of the
GameStop merger, Cowboy Subsidiary LLC, a wholly-owned
subsidiary of Holdco newly organized to effect the GameStop
merger, will merge with and into GameStop. GameStop will be the
surviving corporation in the GameStop merger and will thereby
become a wholly-owned subsidiary of Holdco.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Upon completion of the EB merger, Eagle Subsidiary LLC, a
wholly-owned subsidiary of Holdco newly organized to effect the
EB merger, will merge with and into EB. EB will be the surviving
corporation in the EB merger and will thereby become a
wholly-owned subsidiary of Holdco.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In the GameStop merger, each outstanding share of GameStop
Class&nbsp;A common stock (other than shares owned by GameStop,
Cowboy Subsidiary LLC or EB) will be converted into one share of
Holdco Class&nbsp;A common stock and each outstanding share of
GameStop Class&nbsp;B common stock (other than shares owned by
GameStop, Cowboy Subsidiary LLC or EB) will be converted into
one share of Holdco Class&nbsp;B common stock. The exchange
ratio is fixed and will not be adjusted to reflect stock price
changes prior to the date of the GameStop merger. Each share of
GameStop common stock owned by GameStop, Cowboy Subsidiary LLC
or EB will be cancelled without consideration.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In the EB merger, each outstanding share of EB common stock
(other than shares owned by EB, Eagle Subsidiary LLC or
GameStop) will be converted into the right to receive $38.15 in
cash and .78795 of a share of Holdco Class&nbsp;A common stock.
The exchange ratio is fixed and will not be adjusted to reflect
stock price changes prior to the date of the EB merger. Each
share of EB common stock owned by EB, Eagle Subsidiary LLC or
GameStop will be cancelled without consideration.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Each share of Holdco common stock held by GameStop, Inc. prior
to the effective time will be cancelled without consideration.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Each outstanding GameStop stock option will be converted into an
option to purchase the same number of shares of Holdco
Class&nbsp;A common stock, subject to the same terms and
conditions. Each outstanding EB stock option will be exchanged
for the right to receive cash in an amount equal to
(1)&nbsp;$38.15 <U>plus</U> (2) .78795 <U>multiplied by</U> the
average of the closing prices of GameStop Class&nbsp;A common
stock for the ten trading days prior to the closing date of the
mergers <U>minus</U> (3)&nbsp;the exercise price per share of
such stock option <U>minus</U> (4)&nbsp;any applicable tax
withholding.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Upon completion of the mergers, each option or right to acquire
shares of EB common stock under the EB Amended and Restated 2000
Employee Stock Purchase Plan (the ESPP) will no longer represent
an option or other right to acquire EB common stock and will
instead represent the right to receive, upon the next offering
termination date (as defined in the ESPP), the EB merger
consideration. EB terminated the ESPP as of June&nbsp;30, 2005.
This termination will not affect any options to purchase shares
of EB
</DIV>

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<DIV align="left" style="font-size: 10pt;">
common stock that were issued prior to the date of the merger
agreement and for which shares of EB common stock will be issued
on June&nbsp;30, 2005.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Prior to the closing, Holdco shall adopt a rights agreement
substantially similar to the rights agreement currently adopted
by GameStop.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The mergers will be completed when we file certificates of
merger with the Secretary of State for the State of Delaware.
However, we may agree to a later time for completion of the
mergers and specify that time in the certificates of merger. In
any case, both mergers will become effective at the same time.
We expect to file the certificates of merger as soon as
practicable after the satisfaction or waiver of the closing
conditions in the merger agreement, which are described below.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Conditions to GameStop&#146;s and EB&#146;s Obligations to
Complete the Mergers.</I> GameStop and EB may not complete the
mergers unless each of the following conditions is satisfied or
waived:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

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    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the merger agreement has been adopted by the affirmative vote of
    the holders of a majority of the outstanding shares of EB common
    stock;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the merger agreement and the transactions contemplated thereby,
    including the GameStop merger and the amendment to
    GameStop&#146;s certificate of incorporation to provide for the
    payment of the GameStop merger consideration as contemplated by
    the merger agreement and the amendment to the GameStop Amended
    and Restated 2001 Incentive Plan to provide for the issuance of
    Holdco Class&nbsp;A common stock under such plan has been
    adopted by the affirmative vote of a majority of the outstanding
    shares of GameStop Class&nbsp;A common stock, voting as a single
    class, and the affirmative vote of a majority of the GameStop
    Class&nbsp;A common stock and GameStop Class&nbsp;B common
    stock, voting together as a single class;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    no restraining order or injunction prohibiting completion of the
    mergers is in effect and completion of the mergers is not
    illegal under any applicable law;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the registration statement covering the Holdco shares to be
    issued in the mergers has been declared effective by the SEC and
    is not subject to any stop order or proceedings seeking a stop
    order;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    all regulatory approvals necessary for the completion of the
    mergers have been obtained under the HSR Act and all other
    applicable competition laws;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the shares of Holdco common stock to be issued in the mergers
    have been authorized for listing on the NYSE;&nbsp;and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    Bryan Cave LLP or another law firm selected by GameStop shall
    have delivered to Barnes&nbsp;&#38; Noble a tax opinion as
    required by the Separation Agreement between GameStop and
    Barnes&nbsp;&#38; Noble.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
GameStop and EB&#146;s respective obligations to complete the
mergers are also subject to the satisfaction or waiver of each
of the following additional conditions:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    truth and correctness of the representations and warranties of
    the other party, generally subject to any exceptions that do not
    have, and would not reasonably be expected to have, a material
    adverse effect on the other party or, with respect to EB&#146;s
    obligation to complete the mergers, on GameStop or Holdco after
    the mergers;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the other party&#146;s performance in all material respects of
    all obligations that are required by the merger agreement to be
    performed on or prior to the closing date;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    each party shall have received from the other party customary
    officer&#146;s certificates;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    Holdco shall have received an executed non-competition agreement
    from James J. Kim;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    there shall not have occurred any change in the financial
    condition, business or operations of the other party or its
    subsidiaries, taken as a whole, that would have or would
    reasonably be likely to have a material adverse effect on such
    party;&nbsp;and</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">84

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<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    each of GameStop&#146;s and EB&#146;s receipt of an opinion from
    its counsel to the effect that the exchange of EB common stock
    and GameStop common stock for Holdco common stock pursuant to
    the mergers, taken together, will be treated for federal income
    tax purposes as a transaction described in Section&nbsp;351
    and/or Section&nbsp;368 of the Code.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
For purposes of the merger agreement, the term &#147;material
adverse effect&#148; means, with respect to either of GameStop
or EB, a material adverse effect on the business, financial
condition or results of operations of that company and its
subsidiaries taken as a whole. However, any change or event
relating to the following will not be deemed to have a material
adverse effect:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the economy or financial markets in general, except for such
    changes or events that disproportionately affect one party
    relative to the other participants in the industries in which
    such party operates;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    product shortages and delays in product introductions consistent
    with those that occurred in 2004, except for such changes or
    events that disproportionately affect one party relative to the
    other participants in the industries in which such party
    operates;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    negotiation and entry into the merger agreement, the
    announcement of the merger agreement or the undertaking of the
    obligations contemplated by the merger agreement or necessary to
    consummate the transactions contemplated by the merger agreement
    (including adverse effects on results of operations attributable
    to the uncertainties associated with the period between the date
    hereof and the closing date);</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    fluctuation in the party&#146;s stock price;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the effect of incurring and paying expenses in connection with
    negotiating, entering into, performing and consummating the
    transactions contemplated by the merger agreement;&nbsp;and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    changes in GAAP after the date of the merger agreement.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The completion of the mergers is not subject to a condition that
GameStop receive financing to pay the cash portion of the EB
merger consideration.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Reasonable Best Efforts to Obtain Required Stockholder
Vote.</I> GameStop and EB have each agreed to take all lawful
action to call, give notice of, convene and hold a meeting of
their respective stockholders as promptly as practicable for the
purpose of obtaining the required stockholder vote to adopt the
merger agreement. In addition, they have agreed that they will
use their reasonable best efforts to obtain from their
respective stockholders the required stockholder vote in favor
of adoption of the merger agreement. Nothing in the merger
agreement is intended to relieve the parties of their respective
obligation to submit the merger agreement to their respective
stockholders for a vote on its adoption.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>No Solicitations by EB of Alternative Transactions.</I> The
merger agreement contains detailed provisions prohibiting EB
from seeking an alternative transaction to the mergers. EB has
agreed, and agreed to cause its officers, directors, employees,
financial advisors, attorneys, accountants and other advisors,
investment bankers, representatives and agents, to cease all
existing activities with any parties with respect to or that
could reasonably be expected to lead to a &#147;company takeover
proposal.&#148; A company takeover proposal means any bona fide
written proposal or offer from any person relating to any:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    direct or indirect acquisition or purchase of a business that
    constitutes 50% or more of the net revenues, net income or the
    assets of EB and its subsidiaries, taken as a whole;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    direct or indirect acquisition or purchase of 50% or more of the
    combined voting power of EB;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    any tender offer or exchange offer that if consummated would
    result in any person beneficially owning 50% or more of the
    combined voting power of EB;&nbsp;or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    any merger, consolidation, business combination,
    recapitalization, liquidation, dissolution or similar
    transaction involving EB, other than the transactions
    contemplated by the merger agreement.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">85

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In addition, EB has agreed that it will not, and will not permit
its officers, directors, employees, financial advisors,
attorneys, accountants and other advisors, investment bankers,
representatives and agents to, directly or indirectly:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    solicit, initiate or knowingly encourage or facilitate the
    making of a company takeover proposal;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    approve or recommend, or propose to approve or recommend, or
    enter into any agreement, arrangement or understanding with
    respect to any company takeover proposal;&nbsp;or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    other than informing persons of the existence of the
    non-solicitation provision, participate in any discussions or
    negotiations regarding, or furnish or disclose to any person
    (other than to each other) any non-public information with
    respect to EB in connection with any inquiries or the making of
    any proposal that constitutes, or would reasonably be expected
    to lead to, any company takeover proposal.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Notwithstanding the foregoing, EB may, at any time prior to
obtaining EB stockholder approval, in response to an unsolicited
company takeover proposal that the board of directors of EB
determines in good faith (after consultation with its outside
counsel and a financial advisor of nationally recognized
reputation) may reasonably be expected to constitute or
constitutes a &#147;company superior proposal&#148; (as defined
below), and which company takeover proposal was made after the
date of the merger agreement and did not otherwise result from a
breach of EB&#146;s non-solicitation obligations:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    furnish information with respect to EB to the person making the
    company takeover proposal (and its representatives) pursuant to
    a customary confidentiality agreement not less restrictive of
    the person than the existing confidentiality agreement between
    GameStop and EB, provided that all the information is, in
    substance, simultaneously provided to each other;&nbsp;and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    participate in discussions or negotiations with the person
    making the company takeover proposal (and its representatives)
    regarding the company takeover proposal.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&#147;Company superior proposal&#148; means a company takeover
proposal from any person that the EB board of directors
determines in its good faith judgment (after consulting with a
nationally recognized investment banking firm and outside
counsel), taking into account all legal, financial and
regulatory and other aspects of the proposal and the person
making the proposal (including any break-up fees, expense
reimbursement provisions and conditions to consummation):
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    would be more favorable from a financial point of view to the
    stockholders of EB than the transactions contemplated by the
    merger agreement (including any adjustment to the terms and
    conditions proposed by GameStop in response to such company
    takeover proposal);</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    for which financing, to the extent required, is then committed
    or may reasonably be expected to be committed;&nbsp;and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    is reasonably likely to receive all required governmental
    approvals.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If, prior to EB stockholder approval, the EB board of directors
determines in good faith, after consulting with outside counsel,
that the failure to make a company adverse recommendation change
(as defined below) would be inconsistent with the fulfillment of
its fiduciary duties or any other obligations under applicable
law, then the EB board may make a company adverse recommendation
change, only if EB provides written notice to GameStop advising
them that the EB board of directors intends to take such action
and specifying the reasons therefor, and negotiates in good
faith with GameStop for five business days following its receipt
of such notice to make such adjustments to the terms and
conditions of the merger agreement as would enable EB to proceed
with its recommendation of the merger agreement and/or not
terminate the merger agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Furthermore, in the event that prior to obtaining EB stockholder
approval, EB&#146;s board of directors receives a company
takeover proposal, then EB&#146;s board of directors may
(1)&nbsp;make a company adverse recommendation change and/or
(2)&nbsp;upon termination of the merger agreement and payment of
the termination fee described below, approve and enter into an
agreement relating to a company takeover
</DIV>

<P align="center" style="font-size: 10pt;">86

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<DIV align="left" style="font-size: 10pt;">
proposal that constitutes a superior proposal, if EB&#146;s
board of directors determines in good faith, after consultation
with outside counsel, that the failure to make a company adverse
recommendation change would be inconsistent with its fiduciary
duties and other obligations under applicable law to do so and
if, in either case, EB provides written notice advising GameStop
that the EB board of directors intends to take such action and
specifying the reasons therefor, and negotiates in good faith
with GameStop for five business days following its receipt of
such notice to make such adjustments to the terms and conditions
of the merger agreement as would enable EB to proceed with its
recommendation of the merger agreement and/or not terminate the
merger agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
A &#147;company adverse recommendation change&#148; is where the
board of directors of EB decides to (i)&nbsp;withdraw, or
publicly propose to withdraw (or, in either case, modify in a
manner adverse to the other party) the approval recommendation
or declaration of advisability by the EB board of directors of
the merger agreement or (ii)&nbsp;recommend, adopt or approve,
or propose publicly to recommend, adopt or approve, any company
takeover proposal other than pursuant to the merger agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The merger agreement does not prohibit EB from taking and
disclosing to its stockholders, in compliance with the rules and
regulations of the Exchange Act, a position regarding any
unsolicited tender offer for EB common stock or from making any
other disclosure to EB stockholders if, in the good faith
judgment of the EB board of directors, after consultation with
outside counsel, failure to disclose would be inconsistent with
the fulfillment of the fiduciary duties or any other obligations
of the EB board of directors under applicable law.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>No Solicitations by GameStop of Alternative Transactions.</I>
The merger agreement contains detailed provisions prohibiting
GameStop from seeking an alternative transaction to the mergers.
GameStop has agreed, and agreed to cause its officers,
directors, employees, financial advisors, attorneys, accountants
and other advisors, investment bankers, representatives and
agents, to cease all existing activities with any parties with
respect to or that could reasonably be expected to lead to a
&#147;GameStop takeover proposal.&#148; A GameStop takeover
proposal means any bona fide written proposal or offer from any
person relating to any:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    direct or indirect acquisition or purchase of a business that
    constitutes 50% or more of the net revenues, net income or the
    assets of GameStop and its subsidiaries, taken as a whole;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    direct or indirect acquisition or purchase of 50% or more of the
    combined voting power of GameStop;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    any tender offer or exchange offer that if consummated would
    result in any person beneficially owning 50% or more of the
    combined voting power of GameStop;&nbsp;or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    any merger, consolidation, business combination,
    recapitalization, liquidation, dissolution or similar
    transaction involving GameStop, other than the transactions
    contemplated by the merger agreement.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In addition, GameStop has agreed that it will not, and will not
permit its officers, directors, employees, financial advisors,
attorneys, accountants and other advisors, investment bankers,
representatives and agents to, directly or indirectly:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    solicit, initiate or knowingly encourage or facilitate the
    making of a GameStop takeover proposal;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    approve or recommend, or propose to approve or recommend, or
    enter into any agreement, arrangement or understanding with
    respect to any GameStop takeover proposal;&nbsp;or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    other than informing persons of the existence of the
    non-solicitation provision, participate in any discussions or
    negotiations regarding, or furnish or disclose to any person
    (other than to each other) any non-public information with
    respect to GameStop in connection with any inquiries or the
    making of any proposal that constitutes, or would reasonably be
    expected to lead to, any GameStop takeover proposal.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">87

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Notwithstanding the foregoing, GameStop may, at any time prior
to obtaining GameStop stockholder approval, in response to an
unsolicited GameStop takeover proposal that the board of
directors of GameStop determines in good faith (after
consultation with its outside counsel and a financial advisor of
nationally recognized reputation) may reasonably be expected to
constitute or constitutes a &#147;GameStop superior
proposal&#148; (as defined below), and which GameStop takeover
proposal was made after the date of the merger agreement and did
not otherwise result from a breach of GameStop&#146;s
non-solicitation obligations:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    furnish information with respect to GameStop to the person
    making the GameStop takeover proposal (and its representatives)
    pursuant to a customary confidentiality agreement not less
    restrictive of the person than the existing confidentiality
    agreement between GameStop and EB, provided that all the
    information is, in substance, simultaneously provided to each
    other;&nbsp;and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    participate in discussions or negotiations with the person
    making the GameStop takeover proposal (and its representatives)
    regarding the GameStop takeover proposal.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&#147;GameStop superior proposal&#148; means a GameStop takeover
proposal from any person that the GameStop board of directors
determines in its good faith judgment (after consulting with a
nationally recognized investment banking firm and outside
counsel), taking into account all legal, financial and
regulatory and other aspects of the proposal and the person
making the proposal (including any break-up fees, expense
reimbursement provisions and conditions to consummation):
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    would be more favorable from a financial point of view to the
    GameStop stockholders than the transactions contemplated by the
    merger agreement (including any adjustment to the terms and
    conditions proposed by EB in response to such GameStop takeover
    proposal);</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    for which financing, to the extent required, is then committed
    or may reasonably be expected to be committed;&nbsp;and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    is reasonably likely to receive all required governmental
    approvals.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If, prior to GameStop stockholder approval, the GameStop board
of directors determines in good faith, after consulting with
outside counsel, in the exercise of its fiduciary duties and any
other obligations under applicable law that it should make a
GameStop adverse recommendation change (as defined below), then
the GameStop board may make a GameStop adverse recommendation
change, only if, GameStop provides written notice to EB advising
them that the GameStop board of directors intends to take such
action and specifying the reasons therefor, and negotiates in
good faith with EB for five business days following its receipt
of such notice to make such adjustments to the terms and
conditions of the merger agreement as would enable GameStop to
proceed with its recommendation of the merger agreement and/or
not terminate the merger agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Furthermore, in the event that prior to obtaining GameStop
stockholder approval, the GameStop board of directors receives a
GameStop takeover proposal, then GameStop&#146;s board of
directors may (1)&nbsp;make a GameStop adverse recommendation
change and/or (2)&nbsp;upon termination of the merger agreement
and payment of the termination fee described below, approve and
enter into an agreement relating to a GameStop takeover proposal
that constitutes a GameStop superior proposal, if the GameStop
board of directors determines in good faith, after consultation
with outside counsel, that it should make a GameStop adverse
recommendation change and if, in either case, GameStop provides
written notice advising EB that the GameStop board of directors
intends to take such action and specifying the reasons therefor,
and negotiates in good faith with EB for five business days
following its receipt of such notice to make such adjustments to
the terms and conditions of the merger agreement as would enable
GameStop to proceed with its recommendation of this merger
agreement and/or not terminate the merger agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
A &#147;GameStop adverse recommendation change&#148; is where
the board of directors of GameStop decides to (i)&nbsp;withdraw,
or publicly propose to withdraw (or, in either case, modify in a
manner adverse to the other party) the approval recommendation
or declaration of advisability by the GameStop board of
directors of the merger agreement or (ii)&nbsp;recommend, adopt
or approve, or propose publicly to
</DIV>

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<DIV align="left" style="font-size: 10pt;">
recommend, adopt or approve, any GameStop takeover proposal
other than pursuant to the merger agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The merger agreement does not prohibit GameStop from taking and
disclosing to its stockholders, in compliance with the rules and
regulations of the Exchange Act, a position regarding any
unsolicited tender offer for GameStop common stock or from
making any other disclosure to GameStop stockholders if, in the
good faith judgment of the GameStop board of directors, after
consultation with outside counsel, failure to disclose would be
inconsistent with the fulfillment of the fiduciary duties or any
other obligations of the GameStop board of directors under
applicable law.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Termination.</I> The merger agreement may be terminated in
the following circumstances:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    by mutual consent;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    by either party, if the mergers have not been completed by
    October&nbsp;31, 2005, provided that if the only condition to
    closing that has not been satisfied or waived is that
    (i)&nbsp;there is an order or injunction of a governmental
    entity that prohibits the mergers or (ii)&nbsp;the parties have
    yet to receive antitrust approval, then such date will be
    extended to December&nbsp;31, 2005 or January&nbsp;31, 2006
    (under certain additional circumstances);</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    by either party, if the mergers are not approved by EB&#146;s
    stockholders or GameStop&#146;s stockholders;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    by either party, if any governmental entity issues an order or
    injunction permanently prohibiting the mergers;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    by GameStop, if EB has breached or failed to perform its
    obligations under the merger agreement;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    by GameStop, if the EB board of directors makes a company
    adverse recommendation change;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    by GameStop, if prior to the receipt of the approval of the
    GameStop stockholders, GameStop receives a GameStop superior
    proposal and the GameStop board of directors makes a GameStop
    adverse recommendation change;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    by EB, if GameStop or Holdco has breached or failed to perform
    its obligations under the merger agreement;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    by EB, if the GameStop board of directors makes a GameStop
    adverse recommendation change;&nbsp;or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    by EB, if prior to the receipt of the approval of EB&#146;s
    stockholders, EB receives a company superior proposal and the EB
    board of directors makes a company adverse recommendation change.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Termination Fees.</I> A termination fee is payable by EB:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    if GameStop terminates the merger agreement after EB&#146;s
    board of directors makes a company adverse recommendation
    change, provided that such company adverse recommendation change
    was not solely due to a material adverse effect on GameStop;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    if EB terminates the merger agreement after EB receives a
    company superior proposal and the EB board of directors makes a
    company adverse recommendation change;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    if the merger agreement is terminated by GameStop or EB as a
    result of the conditions to the parties&#146; obligations not
    being satisfied by October&nbsp;31, 2005 or because the EB
    stockholders have not approved the merger agreement (and
    GameStop is not in breach of the merger agreement) and EB
    consummates within twelve months of termination a company
    takeover proposal that was publicly announced at the time of
    termination and not withdrawn;&nbsp;or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    if the merger agreement is terminated by GameStop because EB has
    breached or failed to perform its obligations under the merger
    agreement and EB consummates within twelve months of termination
    a company takeover proposal that was publicly announced at the
    time of termination and not withdrawn.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">89

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
A termination fee is payable by GameStop:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    if EB terminates the merger agreement after GameStop&#146;s
    board of directors makes a GameStop adverse recommendation
    change, provided that such GameStop adverse recommendation
    change was not solely due to a material adverse effect on EB;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    if GameStop terminates the merger agreement after GameStop
    receives a GameStop superior proposal and the GameStop board of
    directors makes a GameStop adverse recommendation change;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    if the merger agreement is terminated by GameStop or EB as a
    result of the conditions to the parties&#146; obligations not
    being satisfied by October&nbsp;31, 2005 or because the GameStop
    stockholders have not approved the merger agreement (and EB is
    not in breach of the merger agreement) and GameStop consummates
    within twelve months of termination a GameStop takeover proposal
    that was publicly announced at the time of termination and not
    withdrawn;&nbsp;or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    if the merger agreement is terminated by EB because GameStop has
    breached or failed to perform its obligations under the merger
    agreement and GameStop consummates within twelve months of
    termination a GameStop takeover proposal that was publicly
    announced at the time of termination and not withdrawn.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The termination fee payable by both parties is $40,000,000.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Conduct of Business Pending the Mergers.</I> Under the merger
agreement, each of us has agreed that, during the period before
completion of the mergers, except as expressly contemplated or
permitted by the merger agreement, or to the extent that the
other party consents in writing, which consent will not be
unreasonably withheld, conditioned or delayed, we will carry on
our respective businesses in the ordinary course and will use
reasonable best efforts to carry on business in the ordinary
course and preserve the business organization intact and
maintain existing relations with customers, suppliers, vendors,
employees, creditors and business partners.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In addition to the above agreements regarding the conduct of
business generally, each of us has agreed with respect to
ourselves and our subsidiaries to various additional specific
restrictions relating to the conduct of our businesses,
including the following (in each case subject to exceptions
specified in the merger agreement):
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    issue, sell, transfer, pledge, dispose of or encumber any
    additional shares of, or securities convertible into or
    exchangeable for, or options, warrants, calls, commitments or
    rights of any kind to acquire, any shares of capital stock of
    any class of the party or its subsidiaries, other than issuances
    pursuant to the exercise of stock options outstanding on the
    date hereof or pursuant to any employee stock purchase plans;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    directly or indirectly, split, combine or reclassify the
    outstanding shares of capital stock of the party, or any
    outstanding capital stock of any of the subsidiaries of the
    party, or redeem, purchase or otherwise acquire directly or
    indirectly any of its capital stock;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    declare, set aside or pay any dividend or other distribution
    payable in cash, stock or property with respect to its capital
    stock;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    amend its certificate of incorporation or bylaws (or other
    comparable organizational documents);</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    sell, lease, license, mortgage or otherwise encumber or subject
    to any lien (other than permitted liens) or otherwise dispose of
    any of its material properties or material assets;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    incur any long-term indebtedness or short-term indebtedness
    other than indebtedness incurred in the ordinary course of
    business or under lines of credit existing on the date of the
    merger agreement;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    other than in the ordinary course of business and consistent
    with past practice, (A)&nbsp;grant any increase in the
    compensation or benefits payable to any current or former
    director, officer, employee</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">90

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<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD></TD>
    <TD align="left">
    or consultant of the party or any of its subsidiaries, (B)
    adopt, enter into, amend or otherwise increase, reprice or
    accelerate the payment or vesting of the amounts payable under
    any benefit plan, (C)&nbsp;enter into or amend any employment,
    bonus, severance, change in control, retention agreement or any
    similar agreement or any collective bargaining agreement or,
    grant any severance, bonus, termination, or retention pay to any
    officer, director, consultant or employee of the party or any of
    its subsidiaries, or (D)&nbsp;pay or award any pension,
    retirement, allowance or other non-equity incentive awards, or
    other employee or director benefit not required by any
    outstanding benefit plan;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    enter into any transaction, agreement, arrangement or
    understanding between (A)&nbsp;the party or any of its
    subsidiaries, on the one hand, and (B)&nbsp;any affiliate of the
    party (other than any subsidiary of the party), on the other
    hand;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    take any action to cause the common stock of the party to cease
    to be listed on the NYSE or NASDAQ National Market, as
    applicable;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    take any action that would make any representation or warranty
    contained in the merger agreement inaccurate in any respect;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    change the accounting methods or principles used by it unless
    required by GAAP (or, if applicable with respect to foreign
    subsidiaries, the relevant foreign generally accepted accounting
    principles) or any governmental entity;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    acquire by merging or consolidating with, by purchasing any
    equity interest in or any assets of, or by any other manner, any
    significant business or any corporation, partnership,
    association or other business organization or division thereof,
    or otherwise acquire any assets, in each case for a total
    purchase price in excess of $35,000,000, except for the purchase
    of assets from suppliers or vendors in the ordinary course of
    business;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    except in the ordinary course of business, make or rescind any
    material express or deemed election, or settle or compromise any
    material claim or action, relating to taxes, or change any of
    its methods of accounting or of reporting income or deductions
    for tax purposes in any material respect;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    satisfy any material claims or liabilities, other than in the
    ordinary course of business or in accordance with their terms;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    make any loans, advances or capital contributions to, or
    investments in, any other person in excess of $5,000,000 in the
    aggregate, except for (A)&nbsp;loans, advances, capital
    contributions or investments between any subsidiary of the party
    and the party or another subsidiary of the party or
    (B)&nbsp;employee advances for expenses in the ordinary course
    of business;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    other than in the ordinary course of business,
    (A)&nbsp;terminate or adversely modify or amend any contract
    having a duration of more than one year and total payment
    obligations of the party in excess of $5,000,000 (other than
    (1)&nbsp;contracts terminable within one year or (2)&nbsp;the
    renewal, on substantially similar terms, of any contract
    existing on the date of the merger agreement), (B)&nbsp;waive,
    release, relinquish or assign any right or claim of material
    value to the party, or (C)&nbsp;cancel or forgive any material
    indebtedness owed to the party or any of its
    subsidiaries;&nbsp;or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    authorize, commit or agree to take any of the foregoing actions.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Holdco, Cowboy Subsidiary LLC and Eagle Subsidiary LLC shall not
engage in any activities other than those set forth in the
merger agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Governance.</I> In the merger agreement, we agreed to adopt
amendments to the certificate of incorporation and bylaws of EB
and the certificate of incorporation and bylaws of GameStop so
that the certificates of incorporation and bylaws of GameStop
and EB after the mergers will be in forms more typical for
wholly-owned subsidiaries. As a result of the mergers,
stockholders of GameStop and stockholders of EB will become
stockholders of Holdco. More information about the amended and
restated certificate of incorporation and amended and restated
bylaws of Holdco which will be in effect
</DIV>

<P align="center" style="font-size: 10pt;">91

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<DIV align="left" style="font-size: 10pt;">
immediately after the mergers are completed can be found in the
section &#147;Comparison of Stockholder Rights&#148; beginning
on page&nbsp;144.
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
On or prior to the effectiveness of the mergers, Holdco&#146;s
board of directors will cause the full board membership to be
set at nine, and will cause the persons indicated in the section
entitled &#147;&#151;&nbsp;Holdco Board of Directors and
Management after the Mergers&#148; beginning on page&nbsp;71 of
this joint proxy statement-prospectus to be appointed to the
Holdco board of directors as of the mergers.
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
On or prior to the effectiveness of the mergers, we will cause
the persons indicated in the section entitled
&#147;&#151;&nbsp;Holdco Board of Directors and Management after
the Mergers&#148; beginning on page&nbsp;71 to be elected or
appointed to the offices of Holdco, GameStop and EB after the
mergers specified in such section.
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Additional Agreements.</I> We have each agreed to use our
reasonable best efforts to take, or cause to be taken, all
actions necessary, proper or advisable to complete and make
effective the mergers and the other transactions contemplated by
the merger agreement, as promptly as practicable, but in no
event later than the outside date of October&nbsp;31, 2005,
unless such date is extended up to and including
December&nbsp;31, 2005 (or January&nbsp;31, 2006 if
GameStop&#146;s lenders agree to extend the terms of the
financing commitment letters) in circumstances described above,
in &#147;&#151;&nbsp;The Merger Agreement&nbsp;&#151;
Termination&#148; beginning on page&nbsp;89. This includes:
</DIV>


<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    obtaining all necessary actions or nonactions, waivers, consents
    and approvals from governmental entities and making all
    necessary registrations and filings and taking all reasonable
    steps as may be necessary to obtain an approval or waiver from,
    or to avoid an action or proceeding by, any governmental entity;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    execution and delivery of any additional instruments necessary
    to consummate the transactions contemplated by the merger
    agreement;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    obtaining all necessary consents, approvals or waivers from
    third parties;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    avoidance or the negotiated settlement of each and every
    impediment under antitrust and competition laws that may be
    asserted by any governmental entity;&nbsp;and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    in the event each and every impediment described above can not
    be avoided, then the defense of lawsuits challenging the mergers.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Neither party is required to defend any lawsuits if in good
faith it does not wish to participate, but it is required to
participate so long as the non-objecting party pays all
expenses. Neither party is required to agree to a remedy that
would reasonably be expected to have a material adverse effect
on such party.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The merger agreement also contains covenants relating to
cooperation in the preparation of this joint proxy
statement-prospectus and additional agreements relating to,
among other things, consultation regarding transition matters,
access to information, notices of specified matters, public
announcements, tax opinions, required amendment to the GameStop
rights agreement and letters from each party&#146;s accountants.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Benefits Matters.</I> We have agreed that our respective
retirement and other employee benefit plans will remain in
effect after completion of the mergers with respect to employees
covered by those plans, until such time as Holdco shall
determine, subject to the terms of such plans. We have also
agreed to negotiate in good faith to formulate benefit plans for
Holdco after the effective time of the mergers on a basis that
does not discriminate between employees who were covered by the
benefit plans of GameStop and employees who were covered by the
benefit plans of EB.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Holdco will adopt a resolution providing that the receipt by
certain GameStop and EB officers and directors of shares of
Holdco common stock to be issued in connection with the mergers
and subject to Section&nbsp;16(b) of the Exchange Act are
intended to be exempt from liability pursuant to
Section&nbsp;16(b).
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Amendment, Extension and Waiver.</I> We may amend the merger
agreement by action taken or authorized by our respective boards
of directors, at any time before or after adoption of the merger
agreement by the stockholders of GameStop or EB. After adoption
of the merger agreement by the stockholders of GameStop or EB,
no amendment may be made which by law requires further approval
by those stockholders, unless we obtain that further approval.
All amendments to the merger agreement must be in writing signed
by all of the parties thereto.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
At any time before the completion of the mergers, we may, by
written action taken or authorized by our respective boards of
directors, to the extent legally allowed:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    extend the time for the performance of any of the obligations or
    other acts provided for in the merger agreement;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    waive any inaccuracies in the representations and warranties
    contained in the merger agreement or in any document delivered
    pursuant to the merger agreement;&nbsp;and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    waive compliance with any of the agreements or conditions
    contained in the merger agreement.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Fees and Expenses.</I> Whether or not the mergers are
completed, all costs and expenses incurred in connection with
the merger agreement and the mergers will be paid by the party
incurring the expense, except that:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    any filing fees required to be paid by GameStop or EB under the
    HSR Act or similar foreign laws shall be shared equally by
    GameStop and EB;&nbsp;and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    all expenses and fees incurred in connection with the filing,
    printing and mailing of this joint proxy statement-prospectus
    and the registration statement of which it is a part will be
    shared equally by GameStop and EB.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Representations and Warranties.</I> The merger agreement
contains customary and substantially reciprocal representations
and warranties by each of us relating to, among other things:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    corporate organization and similar corporate matters;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    subsidiaries;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    capital structure;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    authorization of the merger agreement and absence of conflicts;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    no consents or approvals required except GameStop and EB
    stockholder approvals, SEC approval, the filing of the joint
    proxy statement-prospectus, Exchange Act reports, certificates
    of merger and antitrust filings;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    documents filed with the SEC, financial statements included in
    those documents, regulatory reports filed with governmental
    entities and absence of material undisclosed liabilities;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    information supplied in connection with this joint proxy
    statement-prospectus and the registration statement of which it
    is a part;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    absence of certain changes or events;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    compliance with applicable laws and reporting requirements;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    taxes;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    transactions with affiliates;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the GameStop and EB stockholder votes required to adopt the
    merger agreement;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    board approval and applicable state takeover laws;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    brokers and finders;</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">93

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<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    opinions of financial advisors;&nbsp;and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    no negotiations.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In addition, EB made representations and warranties regarding
the following:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    employee benefits;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    material agreements;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    ownership of properties;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    intellectual property;&nbsp;and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    environmental matters.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In addition, GameStop made representations and warranties
regarding the following:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    financing;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    business of Holdco, Cowboy Subsidiary LLC and Eagle Subsidiary
    LLC;&nbsp;and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    separation agreement with Barnes&nbsp;&#38; Noble.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt;">
<A name='189'></A>
</DIV>

<!-- link1 "The Kim Group Voting Agreement" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>The Kim Group Voting Agreement</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>This section of the joint proxy statement-prospectus
describes the material terms of the Kim Group voting agreement.
The following summary is qualified in its entirety by reference
to the complete text of the Kim Group voting agreement, which is
incorporated by reference and attached as <U>Annex&nbsp;C</U> to
this joint proxy statement-prospectus. We urge you to read the
full text of the Kim Group voting agreement.</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In the Kim Group voting agreement, subject to certain limited
exceptions, the Kim Group agreed to vote their shares of EB
common stock in favor of the adoption of the merger agreement at
the EB stockholders meeting. In addition, the Kim Group has
agreed to vote against any proposal (i)&nbsp;in opposition to
adoption of the merger agreement or in competition or
inconsistent with the EB merger (as defined in the merger
agreement) or any transaction contemplated by the merger
agreement, (ii)&nbsp;any Company takeover proposal (as defined
in the merger agreement), (iii)&nbsp;any change in the
management or board of directors of EB (other than as
contemplated by the merger agreement) and (iv)&nbsp;any action
or agreement that would result in a breach of any
representation, warranty, covenant or agreement or any other
obligation of EB under the merger agreement or of the Kim Group
under the voting agreement. The requirement of the Kim Group to
vote their shares of EB common stock as described above is
subject to limitations if the EB board of directors changes its
recommendation with respect to the adoption of the merger
agreement, in which case only a number of shares equal to
one-third of the outstanding shares of EB common stock would be
required to be so voted, with the remaining shares owned by the
Kim Group being required to be voted in a manner that is
proportionate to the manner in which all holders of EB common
stock (other than the Kim Group) vote in respect of such matter.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Kim Group has also agreed that they will not, directly or
indirectly, sell, transfer, assign, pledge, encumber or
otherwise dispose of any of the EB common stock, or any interest
therein, or any other securities convertible into or
exchangeable for EB common stock (including derivative
securities), or any voting rights with respect thereto or enter
into any contract, option or other arrangement or understanding
with respect thereto (including any voting trust or agreement
and the granting of any proxy) other than (a)&nbsp;pursuant to
the mergers, (b)&nbsp;encumbrances imposed by margin accounts
maintained by each stockholder or pledges to investment banks or
third party lenders and any other transfers resulting therefrom,
(c)&nbsp;transfers to family members of any stockholder,
(d)&nbsp;transfers by operation of law, by will or pursuant to
the laws of descent or distribution, or (e)&nbsp;with the prior
written consent of GameStop.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The voting agreement may be terminated at any time after the
earlier of (a)&nbsp;the termination of the merger agreement in
accordance with its terms or (b)&nbsp;the day following the
effective time (as defined in the merger agreement).
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
As of August&nbsp;30, 2005, the EB record date, these
stockholders beneficially owned approximately 11.6&nbsp;million
shares of EB common stock, which represent the power to vote
approximately 45.6% of the outstanding shares of EB common stock
at the EB annual meeting.
</DIV>


<DIV align="left" style="font-size: 10pt;">
<A name='190'></A>
</DIV>

<!-- link1 "The Riggio Group Voting Agreement" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>The Riggio Group Voting Agreement</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>This section of the joint proxy statement-prospectus
describes the material terms of the Riggio Group voting
agreement. The following summary is qualified in its entirety by
reference to the complete text of the Riggio Group voting
agreement, which is incorporated by reference and attached as
<U>Annex&nbsp;F</U> to this joint proxy statement-prospectus. We
urge you to read the full text of the Riggio Group voting
agreement.</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Pursuant to a voting agreement with the Riggio Group, these
stockholders have agreed to vote their shares of GameStop
Class&nbsp;A common stock and GameStop Class&nbsp;B common stock
in favor of the adoption of the merger agreement. In addition,
the Riggio Group has agreed to vote against any proposal
(i)&nbsp;in opposition to adoption of the merger agreement or in
competition or inconsistent with the GameStop merger or any
transaction contemplated by the merger agreement, (ii)&nbsp;any
GameStop takeover proposal (as defined in the merger agreement),
(iii)&nbsp;any change in the management or board of directors of
GameStop (other than as contemplated by the merger agreement)
and (iv)&nbsp;any action or agreement that would result in a
breach of any representation, warranty, covenant or agreement or
any other obligation of GameStop under the merger agreement or
of such stockholder under the voting agreement. The Riggio Group
has also agreed that they will not directly or indirectly, sell,
transfer, assign, pledge, encumber or otherwise dispose of any
of the GameStop common stock, or any interest therein, or any
other securities convertible into or exchangeable for GameStop
common stock (including derivative securities), or any voting
rights with respect thereto or enter into any contract, option
or other arrangement or understanding with respect thereto
(including any voting trust or agreement and the granting of any
proxy) other than (a)&nbsp;pursuant to the mergers,
(b)&nbsp;encumbrances imposed by margin accounts maintained by
each stockholder or pledges to investment banks or third party
lenders and any other transfers resulting therefrom,
(c)&nbsp;transfers to family members of any stockholder,
(d)&nbsp;transfers by operation of law, by will or pursuant to
the laws of descent or distribution, or (e)&nbsp;with the prior
written consent of EB.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The voting agreement will terminate after the earlier of
(a)&nbsp;the termination of the merger agreement in accordance
with its terms or (b)&nbsp;the day following the effective time
(as defined in the merger agreement).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
As of August&nbsp;30, 2005, the GameStop record date, the Riggio
Group owned approximately 5.3&nbsp;million shares of GameStop
Class&nbsp;B common stock, which represents approximately 16.4%
of the combined voting power of all classes of GameStop&#146;s
voting stock. The Riggio Group also holds exercisable options to
acquire 4,500,000&nbsp;shares of GameStop Class&nbsp;A common
stock. These options are not expected to be exercised prior to
the GameStop record date and therefore the Riggio Group is not
expected to have any voting power with respect to the GameStop
Class&nbsp;A common stock.
</DIV>


<DIV align="left" style="font-size: 10pt;">
<A name='191'></A>
</DIV>

<!-- link1 "The Registration Rights Agreement" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>The Registration Rights Agreement</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In connection with the consummation of the mergers and as a
condition to entering into the voting agreement with the Kim
Group, Holdco will enter into a registration rights agreement
with the Kim Group pursuant to which Holdco will be obligated to
file with the SEC a registration statement registering the
shares of Holdco Class&nbsp;A common stock held by the Kim Group
(the registrable securities) as promptly as practicable after
the closing of the mergers and Holdco shall use its reasonable
best efforts to have such registration statement declared
effective within 90&nbsp;days of the effective time of the
mergers.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If Holdco seeks to register, in a proposed offering for cash,
any Holdco common stock or other equity securities while the
registration rights agreement is in effect, the Kim Group has
the right to request that Holdco include any or all of their
registrable securities in the proposed offering. Holdco must
provide written notice to each member of the Kim Group at least
20 business days prior to the proposed date of filing of the
registration statement. A member of the Kim Group, in a written
request given to Holdco at
</DIV>

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<DIV align="left" style="font-size: 10pt;">
least ten days prior to the proposed filing, may include its
registrable securities in such registration statement, subject
to constraints of marketability of the proposed offering, as
determined by the managing underwriter. In the event marketing
constraints prevent the registration of all registrable
securities requested to be registered, after all shares of
Holdco common stock to be registered by Holdco are included,
such registrable securities shall be registered, to the extent
marketable, on a pro rata basis relative to the respective
members of the Kim Group&#146;s holding of registrable
securities.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Kim Group will pay all underwriting discounts, commissions
and transfer taxes related to the registrable securities offered
for sale by the Kim Group as well as the fees and disbursements
of its counsel. All other fees and expenses in connection with
the registration of registrable securities will be borne by
Holdco. Holdco agrees to indemnify the Kim Group and the
prospective underwriters of registrations of registrable
securities for liabilities arising out of violations by Holdco
of applicable laws relating to the registration statement and
for material misstatements and omissions, not provided by the
Kim Group, included in the registration statement. Likewise,
each member of the Kim Group agrees to indemnify Holdco, all
other members of the Kim Group or any underwriter for
liabilities arising out of violations of applicable laws
relating to its offer and sale of registrable securities and for
material misstatements and omissions made in the registration
statement in reliance on information provided to Holdco by such
member of the Kim Group. Contribution will also be available to
any of the above parties in relation to relative fault, to the
extent that indemnification from an indemnifying party to an
indemnified party is unavailable.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='192'></A>
</DIV>

<!-- link1 "The Non-Competition Agreement" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>The Non-Competition Agreement</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In connection with the consummation of the mergers and as a
condition to the closing of the mergers, Mr.&nbsp;James J. Kim
will enter into a non-compete agreement with Holdco whereby
Mr.&nbsp;Kim (either individually or as a member of any group)
agrees not to compete with Holdco for a period of three years
after the effective date. Except as otherwise provided in the
non-competition agreement, Mr.&nbsp;Kim agrees not to:
(i)&nbsp;acquire any ownership interest in, (ii)&nbsp;provide
services to, (iii)&nbsp;assist or participate in the
organization, promotion or founding of, (iv)&nbsp;except as
contemplated by the merger agreement, serve on the board of
directors or advisory board of, (v)&nbsp;act as a consultant to,
or (vi)&nbsp;serve as an officer, employee, representative or
agent of, or otherwise participate in any capacity in the
management or operations of, any competitive business (as
defined in the non-competition agreement). The territories where
Mr.&nbsp;Kim agrees not to compete with Holdco are: the United
States (including, without limitation, Puerto Rico and Guam),
Australia, Canada, Denmark, Germany, Italy, New Zealand, Norway,
Sweden, United Kingdom, Ireland, France and Spain.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In addition, the agreement also provides that, for a period of
two years after the effective date, Mr.&nbsp;Kim will not
interfere with customers or suppliers of EB or Holdco or any of
its affiliates, or solicit employees or consultants of Holdco or
its affiliates.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='193'></A>
</DIV>

<!-- link1 "Amendment to GameStop&#146;s Certificate of Incorporation" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Amendment to GameStop&#146;s Certificate of Incorporation</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In connection with the mergers, Article&nbsp;Fourth (b)(v) of
the amended and restated certificate of incorporation of
GameStop relating to the equal treatment of holders of GameStop
Class&nbsp;A common stock and GameStop Class&nbsp;B common stock
in mergers, consolidations, etc., will be amended, subject to
GameStop stockholder approval, to permit the receipt by the
holders of GameStop Class&nbsp;B common stock, in any
consolidation, merger, combination or other transaction in which
shares of GameStop common stock are exchanged for other
securities or property, of securities that differ as to voting
rights and powers on a per share basis from the securities
received by holders of GameStop Class A common stock, provided
that such difference shall not exceed ten to one. This amendment
is necessary to allow for the payment of the GameStop merger
consideration in accordance with the terms of the merger
agreement. This amendment requires the affirmative vote of a
majority of the outstanding shares of GameStop Class&nbsp;A
common stock, voting as a single class, and the affirmative vote
of a majority of the GameStop Class&nbsp;A common stock and
GameStop Class&nbsp;B common stock, voting together as a single
class.
</DIV>

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<DIV align="left" style="font-size: 10pt;">
<A name='194'></A>
</DIV>

<!-- link1 "Amendment to GameStop Amended and Restated 2001 Incentive Plan" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Amendment to GameStop Amended and Restated 2001 Incentive
Plan</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In connection with the mergers, there will be an amendment to
the Amended and Restated 2001 Incentive Plan to provide that all
outstanding unexercised stock options under the plan, and any
future stock or stock option awards granted under the plan, will
be in Holdco Class&nbsp;A common stock instead of GameStop
Class&nbsp;A common stock. We are seeking the affirmative vote
of a majority of the outstanding shares of GameStop Class&nbsp;A
common stock, voting as a single class, and the affirmative vote
of the majority of outstanding shares of GameStop Class&nbsp;A
common stock and GameStop Class&nbsp;B common stock, voting
together as a single class, to ensure continued deductibility of
the related compensation expense under Section&nbsp;162(m) of
the Code.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='195'></A>
</DIV>

<!-- link1 "Financing" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Financing</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>The following summary is qualified in its entirety by
reference to the complete text of the commitment letters
referred to therein, which are filed as Exhibits&nbsp;10.4 and
10.5 to the Registration Statement on Form&nbsp;S-4 of which
this joint proxy statement-prospectus is a part. The following
summary may not contain all of the information about the
commitment letters that is important to you. We urge you to read
the full text of the commitment letters carefully and in their
entirety.</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Holdco intends to finance the cash portion of the merger
consideration and to pay fees, expenses and transaction costs
for the mergers through a senior debt financing of approximately
$950&nbsp;million and excess cash.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Holdco expects the senior debt financing to consist of the
issuance of senior notes and senior floating rate notes. The
terms of any such notes have not yet been determined but are
expected to be standard market terms comparable to similar
offerings being made at the time. Holdco also has received
commitments from affiliates of Citigroup, Bank of America and
Merrill Lynch for a $950&nbsp;million senior unsecured bridge
loan facility (the bridge loan facility) to be utilized if
necessary for temporary financing that would be expected to be
replaced with the senior notes, senior floating rate notes
and/or convertible notes.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The maturity date of the bridge loan facility would be the first
anniversary of the closing date for the mergers (subject to
extension as provided in the commitment letter for such
facility). Prior to such first anniversary, loans under the
bridge loan facility would bear interest at a rate per annum
equal to, at Holdco&#146;s election, either (i)&nbsp;the
three-month reserve-adjusted the London Interbank Offered Rate
(or LIBOR) plus a spread initially of 500&nbsp;basis points
(such spread being subject to quarterly increases by
50&nbsp;basis points if the loans are not yet repaid) or
(ii)&nbsp;an alternative base rate (as defined in the commitment
letter) rate plus a spread initially of 400&nbsp;basis points
(such spread being subject to quarterly increases by
50&nbsp;basis points if the loans are not yet repaid).
Notwithstanding the foregoing, the interest rate in effect prior
to the first anniversary of the closing date would not exceed
12.0%&nbsp;per annum or be less than 8.25%&nbsp;per annum.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Holdco also has received commitments from affiliates of Bank of
America, Merrill Lynch and Citigroup for a $400&nbsp;million
senior secured revolving credit facility (the revolving credit
facility) that Holdco expects to enter into in connection with
the closing of the mergers. The commitment letter for the
revolving credit facility provides that such facility will have
a five-year term and will be available for refinancing of
indebtedness, to pay transaction costs in connection with the
mergers and for other general corporate purposes, including
letters of credit, working capital, capital expenditures,
permitted dividends, permitted share repurchases and permitted
acquisitions. The revolving credit facility will be guaranteed
by all of Holdco&#146;s wholly owned U.S.&nbsp;subsidiaries and
secured by substantially all of its assets and those of the
guarantors. Borrowings under the revolving credit facility will
be limited by a borrowing base calculated based on specified
percentages of the value of eligible inventory and eligible
credit card receivables, subject to certain reserves.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Interest on the outstanding balances under the revolving credit
facility will be payable, at the borrower&#146;s option, at an
alternate base rate (as that term is defined in the commitment
letter) or at
</DIV>

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<DIV align="left" style="font-size: 10pt;">
LIBOR, in each case plus an applicable margin ranging from 0% to
1.75% depending on the ratio of total indebtedness to EBITDA and
whether the borrowing is an alternate base rate or LIBOR
borrowing.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Conditions to the financing commitments for the bridge loan
facility and the revolving credit facility include, among other
things:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    execution of definitive documentation for the respective
    financings on terms satisfactory to the financing sources;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the absence of any change, effect, event, occurrence or state of
    facts that is materially adverse to the business, financial
    condition, or results of operations of EB, subject to certain
    exceptions;&nbsp;and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    other customary conditions, including obtaining requisite
    material consents and approvals.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The obligations of the financing sources under the commitment
letters extend through October&nbsp;31, 2005. This date is
automatically extended to December&nbsp;31, 2005 if the outside
date for the completion of the mergers is extended to
December&nbsp;31, 2005 under the merger agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Definitive agreements for the financings have not been finalized
and, accordingly, the form and terms of the financings may
change.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='196'></A>
</DIV>

<!-- link1 "INFORMATION ABOUT GAMESTOP" -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>INFORMATION ABOUT GAMESTOP</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
GameStop Corp. is one of the leading video game and PC
entertainment software retailers in the United States. GameStop
carries one of the largest assortments of new and used video
game hardware, video game software and accessories, PC
entertainment software, and related products, including action
figures, trading cards and strategy guides. GameStop operates
approximately 2,000 stores in the United States, Puerto Rico,
Guam, Ireland and the United Kingdom. GameStop operates most of
its stores under the GameStop name. In addition, GameStop
operates a website at www.gamestop.com and publishes <I>Game
Informer</I>, the industry&#146;s largest circulation
multi-platform video game magazine, with over 2,000,000
subscribers.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Of GameStop&#146;s approximately 2,000 stores, approximately 75%
are located in strip centers and approximately 25% are located
in shopping malls and other locations. GameStop&#146;s strip
center stores, which average approximately 1,600&nbsp;square
feet, carry a balanced mix of new and used video game hardware,
video game software and accessories, which are referred to as
video game products, and PC entertainment software.
GameStop&#146;s mall stores, which average approximately
1,200&nbsp;square feet, carry primarily new video game products
and PC entertainment software, as well as used video game
products. GameStop&#146;s used video game products provide an
attractive value proposition to its customers, and its
purchasing of used video game products provides its customers
with an opportunity to trade in their used video game products
for store credits and apply those credits towards other
merchandise, which, in turn, increases sales.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
GameStop&#146;s corporate office and distribution facilities are
housed in a new 420,000&nbsp;square foot facility in Grapevine,
Texas.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Prior to February&nbsp;12, 2002, GameStop was a wholly-owned
subsidiary of Barnes&nbsp;&#38; Noble. On February&nbsp;12,
2002, GameStop completed an initial public offering of shares of
Class&nbsp;A common stock raising net proceeds of approximately
$347.3&nbsp;million. A portion of those proceeds was used to
repay $250.0&nbsp;million of its $400&nbsp;million indebtedness
to Barnes&nbsp;&#38; Noble, with Barnes&nbsp;&#38; Noble
contributing the remaining $150.0&nbsp;million of indebtedness
to GameStop as additional paid-in-capital. Barnes&nbsp;&#38;
Noble owned approximately 63% of the outstanding shares of
GameStop&#146;s capital stock through its ownership of 100% of
GameStop Class&nbsp;B common stock until October 2004. On
October&nbsp;1, 2004, GameStop repurchased approximately
6.1&nbsp;million shares of its Class&nbsp;B common stock at a
price equal to $18.26&nbsp;per share for aggregate consideration
of approximately $111.5&nbsp;million. On November&nbsp;12, 2004,
Barnes&nbsp;&#38; Noble distributed to its stockholders its
remaining 29.9&nbsp;million shares of GameStop Class&nbsp;B
common stock in a tax-free dividend. Each of GameStop&#146;s
Class&nbsp;A common stock and Class&nbsp;B common stock are
traded on the NYSE under the symbols &#147;GME&#148; and
&#147;GME.B,&#148; respectively.
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
For additional information on GameStop, see &#147;Where You Can
Find More Information&#148; on page&nbsp;162.
</DIV>


<DIV align="left" style="font-size: 10pt;">
<A name='197'></A>
</DIV>

<!-- link1 "Information about the Board of Directors and Executive Officers of GameStop" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Information about the Board of Directors and Executive
Officers of GameStop</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The following table sets forth the names and ages of
GameStop&#146;s directors, the year they first became a director
and the positions they hold with GameStop:
</DIV>


<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; margin-top: 6pt; ">

<TR style="font-size: 1pt;">
    <TD width="43%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="37%">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Director</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD align="center" nowrap><B>Name</B></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Age</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Since</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap><B>Position with GameStop</B></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    R. Richard Fontaine</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>63</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>2001</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Chairman of the Board, Chief Executive Officer and Director</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Daniel A. DeMatteo</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>57</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>2002</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Vice Chairman, Chief Operating Officer and Director</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Michael N. Rosen</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>64</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>2001</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Secretary and Director</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Leonard Riggio(1)</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>64</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>2001</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Director</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Stephanie M. Shern(2)</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>57</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>2002</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Director</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Gerald R. Szczepanski(3)</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>57</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>2002</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Director</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Edward A. Volkwein(3)</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>64</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>2002</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Director</TD>
</TR>

</TABLE>
</CENTER>


<DIV align="left" style="font-size: 3pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<DIV style="width: 18%; border-top: 1.0pt solid black; font-size: 1pt">&nbsp;</DIV>
</DIV>

<DIV style="margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>(1)&nbsp;</TD>
    <TD align="left">
    Member of Nominating and Corporate Governance Committee</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>(2)&nbsp;</TD>
    <TD align="left">
    Member of Audit Committee</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>(3)&nbsp;</TD>
    <TD align="left">
    Member of Compensation Committee, Audit Committee and Nominating
    and Corporate Governance Committee</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I>Nominees for Election as Director</I></B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The following individuals are nominees for director at the
GameStop annual meeting:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>Daniel A. DeMatteo </B>has been GameStop&#146;s Vice Chairman
and Chief Operating Officer since March 2005. Prior to March
2005, Mr.&nbsp;DeMatteo served as President and Chief Operating
Officer of GameStop or its predecessor companies since November
1996. He has served on the board of GameStop since 2002 and has
been an executive officer in the video game industry since 1988.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>Leonard Riggio </B>is a director and a member of the
Nominating Committee. Mr.&nbsp;Riggio was the Chairman of the
Board of GameStop or its predecessor companies from November
1996 until GameStop&#146;s initial public offering in
February&nbsp;2002. He has served as an executive officer or
director in the video game industry since 1987. Mr.&nbsp;Riggio
has been Chairman of the Board and a principal stockholder of
Barnes&nbsp;&#38; Noble since its inception in 1986 and served
as Chief Executive Officer from its inception in 1986 until
February 2002. Since 1965, Mr.&nbsp;Riggio has been Chairman of
the Board, Chief Executive Officer and the principal stockholder
of Barnes&nbsp;&#38; Noble College Booksellers, Inc., one of the
largest operators of college bookstores in the country. Since
1985, Mr.&nbsp;Riggio has been Chairman of the Board and a
principal beneficial owner of MBS Textbook Exchange, Inc., one
of the nation&#146;s largest wholesalers of college textbooks.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>Gerald R. Szczepanski </B>is a director and Chair of the
Compensation Committee and a member of the Audit Committee and
the Nominating and Corporate Governance Committee.
Mr.&nbsp;Szczepanski is currently retired. Mr.&nbsp;Szczepanski
was the co-founder, and, from 1994 to 2005, the Chairman and
Chief Executive Officer of Gadzooks, Inc., a publicly traded,
specialty retailer of casual clothing and accessories for
teenagers. On February&nbsp;3, 2004, Gadzooks, Inc. filed a
voluntary petition under Chapter&nbsp;11 of the United States
Bankruptcy Code in the United States Bankruptcy Court for the
Northern District of Texas, Dallas Division (Case No.
04-31486-11).
</DIV>

<DIV style="margin-top: 9pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I>Other Directors Whose Terms of Office Continue After the
    GameStop Annual Meeting</I></B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>R.&nbsp;Richard Fontaine </B>has been GameStop&#146;s
Chairman of the Board and Chief Executive Officer since
GameStop&#146;s initial public offering in February 2002.
Mr.&nbsp;Fontaine has served as the Chief Executive
</DIV>

<P align="center" style="font-size: 10pt;">99

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<DIV align="left" style="font-size: 10pt;">
Officer of GameStop&#146;s predecessor companies since November
1996. He has been an executive officer or director in the video
game industry since 1988.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>Michael N. Rosen </B>is GameStop&#146;s Secretary and a
director. Mr.&nbsp;Rosen has served in the same capacities for
GameStop or its predecessor companies since October 1999.
Mr.&nbsp;Rosen has been a partner at Bryan Cave LLP, counsel to
GameStop, since their July 2002 combination with Robinson
Silverman. Prior to that, Mr.&nbsp;Rosen was Chairman of
Robinson Silverman for more than the past five years.
Mr.&nbsp;Rosen is also a director of Barnes&nbsp;&#38; Noble.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>Stephanie M. Shern </B>is a director and Chair of the Audit
Committee. Mrs.&nbsp;Shern formed Shern Associates LLC in
February 2002 to provide business advisory and board services,
primarily to publicly-held companies. From May 2001 until
February 2002, Mrs.&nbsp;Shern served as Senior Vice President
and Global Managing Director of Retail and Consumer Products for
Kurt Salmon Associates. From 1995 until April 2001,
Mrs.&nbsp;Shern was the Vice Chair and Global Director of Retail
and Consumer Products for Ernst&nbsp;&#38; Young LLP and a
member of Ernst&nbsp;&#38; Young&#146;s Management Committee.
Mrs.&nbsp;Shern is currently a director and Chair of the Audit
Committee of The Scotts/ Miracle Gro Company, a director and
Chair of the Audit Committee and member of the Governance
Committee of Nextel Communications, Inc., a director and member
of the Audit Committee of Royal Ahold, and a director and Chair
of the Audit Committee of the Vitamin Shoppe, Inc.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>Edward A. Volkwein </B>is a director and a member of the
Audit Committee, the Compensation Committee and the Nominating
and Corporate Governance Committee. Mr.&nbsp;Volkwein is
President and Chief Operating Officer of Hydro-Photon, Inc., a
water purification technology company. Prior to joining
Hydro-Photon, Mr.&nbsp;Volkwein had a broad marketing career
beginning in brand management for General Foods and
Chesebrough-Ponds, Inc. He served as Senior Vice President
Global Advertising and Promotion for Philips Consumer
Electronics and as Senior Vice President Marketing for Sega of
America, where he was instrumental in developing Sega into a
major video game brand. Mr.&nbsp;Volkwein has also held senior
executive positions with Funk&nbsp;&#38; Wagnalls and Prince
Manufacturing.
</DIV>

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I>Meetings and Committees of the GameStop Board</I></B></TD>
</TR>

</TABLE>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
GameStop was a &#147;controlled company&#148; under the rules of
the NYSE until all of the outstanding shares of GameStop
Class&nbsp;B common stock were distributed by Barnes&nbsp;&#38;
Noble to its stockholders on November&nbsp;12, 2004. Companies
that are &#147;controlled companies&#148; are exempt from the
NYSE&#146;s corporate governance rules requiring that listed
companies have (i)&nbsp;a majority of the board of directors
consist of &#147;independent&#148; directors under the listing
standards of the NYSE, (ii)&nbsp;a nominating/corporate
governance committee composed entirely of
&#147;independent&#148; directors and a written
nominating/corporate governance committee charter meeting the
NYSE&#146;s requirements, and (iii)&nbsp;a compensation
committee composed entirely of &#147;independent&#148; directors
and a written compensation committee charter meeting the
NYSE&#146;s requirements. As required, GameStop currently has a
nominating committee composed entirely of
&#147;independent&#148; directors with a written nominating
committee charter, and a compensation committee which is
composed entirely of &#147;independent&#148; directors and a
written compensation committee charter. GameStop intends to have
a majority of &#147;independent&#148; directors on its board by
November&nbsp;12, 2005, the first anniversary of the
Barnes&nbsp;&#38; Noble distribution.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The GameStop board of directors met six times during GameStop
fiscal 2004. All directors attended at least 75% of all of the
meetings of the GameStop board of directors and the committees
thereof on which they served during GameStop fiscal 2004.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The GameStop board of directors has three standing committees:
the Audit Committee, the Compensation Committee, and the
Nominating and Corporate Governance Committee.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>GameStop Audit Committee.</I> The GameStop Audit Committee
has the principal function of, among other things, reviewing the
adequacy of GameStop&#146;s internal system of accounting
controls, the appointment, compensation, retention and oversight
of the independent certified public accountants, conferring with
the independent public accounting firm concerning the scope of
their examination of the
</DIV>

<P align="center" style="font-size: 10pt;">100

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<DIV align="left" style="font-size: 10pt;">
books and records of GameStop, reviewing and approving related
party transactions and considering other appropriate matters
regarding the financial affairs of GameStop. In addition, the
GameStop Audit Committee has established procedures for the
receipt, retention and treatment of confidential and anonymous
complaints regarding GameStop&#146;s accounting, internal
accounting controls and auditing matters. The GameStop board of
directors has adopted a written charter setting out the
functions of the GameStop Audit Committee, a copy of which is
available on GameStop&#146;s website at www.gamestop.com and is
available in print to any GameStop stockholder who requests it,
in writing to GameStop&#146;s Secretary, GameStop Corp., 625
Westport Parkway, Grapevine, Texas 76051. As required by the
charter, the GameStop Audit Committee will continue to review
and reassess the adequacy of the charter annually and recommend
any changes to the GameStop board of directors for approval. The
current members of the GameStop Audit Committee are Stephanie M.
Shern (Chair), Edward A. Volkwein and Gerald R. Szczepanski, all
of whom are &#147;independent&#148; directors under the listing
standards of the NYSE. In addition to meeting the independence
standards of the NYSE, each member of the GameStop Audit
Committee is financially literate and meets the independence
standards established by the SEC. The GameStop board of
directors has also determined that Mrs.&nbsp;Shern has the
requisite attributes of an &#147;audit committee financial
expert&#148; as defined by regulations promulgated by the SEC
and that such attributes were acquired through relevant
education and experience. The GameStop Audit Committee met ten
times during GameStop fiscal 2004. A copy of the report of the
GameStop Audit Committee is on page&nbsp;116 of this joint proxy
statement-prospectus.
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>GameStop Compensation Committee.</I> The principal function
of the GameStop Compensation Committee is to, among other
things, make recommendations to the GameStop board of directors
with respect to matters regarding the approval of employment
agreements, management and consultant hiring and executive
compensation. The GameStop Compensation Committee is also
responsible for administering GameStop&#146;s Amended and
Restated 2001 Incentive Plan and GameStop&#146;s Supplemental
Compensation Plan (the Supplemental Compensation Plan). The
current members of the GameStop Compensation Committee are
Gerald R. Szczepanski (Chair) and Edward A. Volkwein, both of
whom meet the independence standards of the NYSE. The GameStop
Compensation Committee met one time during GameStop fiscal 2004.
A copy of the report of the GameStop Compensation Committee is
on page&nbsp;109 of this joint proxy statement-prospectus.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>GameStop Nominating and Corporate Governance Committee.</I>
GameStop was a &#147;controlled company&#148; under the rules of
the NYSE until all of the outstanding shares of GameStop
Class&nbsp;B common stock were distributed by Barnes&nbsp;&#38;
Noble to its stockholders on November&nbsp;12, 2004. Subsequent
to this distribution, the GameStop board of directors formed the
GameStop Nominating and Corporate Governance Committee. The
current members of the GameStop Nominating and Corporate
Governance Committee are Leonard Riggio, Gerald R. Szczepanski
and Edward A. Volkwein, all of whom meet the independence
standards of the NYSE. The GameStop board of directors has
adopted a written charter setting out the functions of the
GameStop Nominating and Corporate Governance Committee, a copy
of which can be found on GameStop&#146;s website at
www.gamestop.com.
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <I><U>Minimum Qualification</U></I></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
GameStop does not set specific criteria for directors except to
the extent required to meet applicable legal, regulatory and
stock exchange requirements, including, but not limited to, the
independence requirements of the NYSE and the SEC, as
applicable. Nominees for GameStop director will be selected on
the basis of outstanding achievement in their personal careers;
board experience; wisdom; integrity; ability to make
independent, analytical inquiries; understanding of the business
environment; and willingness to devote adequate time to board of
directors&#146; duties. While the selection of qualified
directors is a complex and subjective process that requires
consideration of many intangible factors, the board of directors
believes that each director should have a basic understanding of
(i)&nbsp;the principal operational and financial objectives and
plans and strategies of GameStop, (ii)&nbsp;the results of
operations and financial condition of GameStop and of any of its
significant subsidiaries or business segments, and
(iii)&nbsp;the relative standing of GameStop and its business
segments in relation to its competitors.
</DIV>

<P align="center" style="font-size: 10pt;">101

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<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <I><U>Nominating Process</U></I></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Consideration of new GameStop board of director&#146;s nominee
candidates, if any, typically involves a series of internal
discussions, review of information concerning candidates and
interviews with selected candidates. The GameStop board of
directors is willing to consider candidates submitted by a
variety of sources (including incumbent directors, GameStop
stockholders (in accordance with the process described below),
management and third-party search firms) when reviewing
candidates to fill vacancies and/or expand the GameStop board of
directors. When nominating a sitting director for re-election at
an annual meeting, the GameStop board of directors will consider
the director&#146;s performance on the GameStop board of
directors and the director&#146;s qualifications in respect of
the foregoing.
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <I><U>Consideration of GameStop Stockholder-Nominated
    Directors</U></I></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The GameStop board of directors will consider potential nominees
submitted by GameStop stockholders if a vacancy arises or if the
GameStop board of directors decides to expand its membership,
and at such other times as the GameStop board of directors deems
necessary or appropriate. GameStop&#146;s bylaws provide that,
in order for a GameStop stockholder to nominate a person for
election to the GameStop board of directors at a GameStop annual
meeting of stockholders, such stockholder must give written
notice to GameStop&#146;s Secretary, GameStop Corp., 625
Westport Parkway, Grapevine, Texas 76051, not less than
30&nbsp;days nor more than 60&nbsp;days prior to the meeting;
provided, however, that in the event that less than 40&nbsp;days
notice or prior public disclosure of the date of the meeting is
given to GameStop stockholders, notice by the GameStop
stockholder must be given not later than the close of business
on the tenth day following the day on which such notice of the
date of the meeting was mailed or such public disclosure was
made. Such notice must contain the proposing GameStop
stockholder&#146;s record name and address, and the class and
number of shares of GameStop which are beneficially owned by
such stockholder. Such notice must also contain all information
relating to such nominee that is required to be disclosed in
solicitations of proxies for election of directors, or is
otherwise required, in each case pursuant to Regulation&nbsp;14A
under the Exchange Act, including such person&#146;s written
consent to being a nominee and to serving as a GameStop director
if elected.
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I>Corporate Governance</I></B></TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <I><U>Code of Business Conduct and Ethics</U></I></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The GameStop board of directors has adopted a Code of Business
Conduct and Ethics. The Code of Business Conduct and Ethics is
available on GameStop&#146;s website at www.gamestop.com and is
available in print to any GameStop stockholder who requests it
in writing to GameStop&#146;s Secretary, GameStop Corp., 625
Westport Parkway, Grapevine, Texas 76051.
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <I><U>Code of Ethics for Senior Financial Officers</U></I></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
GameStop has adopted a Code of Ethics that is applicable to
GameStop&#146;s Chairman of the Board and Chief Executive
Officer, Vice Chairman and Chief Operating Officer, President,
Chief Financial Officer, Vice President-Finance and any
Executive Vice President of GameStop. This Code of Ethics is
attached as Exhibit&nbsp;14.1 to GameStop&#146;s Form&nbsp;10-K
for the fiscal year ended January&nbsp;31, 2004. In accordance
with SEC rules, GameStop intends to disclose any amendment
(other than any technical, administrative, or other
non-substantive amendment) to, or any waiver from, a provision
of the Code of Ethics on GameStop&#146;s website at
www.gamestop.com within five business days following such
amendment or waiver.
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <I><U>Corporate Governance Guidelines</U></I></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The GameStop board of directors adopted Corporate Governance
Guidelines. The Corporate Governance Guidelines are available on
GameStop&#146;s website at www.gamestop.com and are available in
print to any GameStop stockholder who requests it in writing to
GameStop&#146;s Secretary, GameStop Corp., 625 Westport Parkway,
Texas 76051.
</DIV>

<P align="center" style="font-size: 10pt;">102

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <I><U>Communications Between GameStop Stockholders and the
    GameStop Board of Directors</U></I></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
GameStop stockholders and other interested persons seeking to
communicate with the GameStop board of directors should submit
any communications in writing to GameStop&#146;s Secretary,
GameStop Corp., 625 Westport Parkway, Grapevine, Texas 76051.
Any such communication must state the number of shares
beneficially owned by the GameStop stockholder making the
communication. GameStop&#146;s Secretary will forward such
communication to the full GameStop board of directors or to any
individual director or directors (including the presiding
director of the executive sessions of the non-management
directors or the non-management directors as a group) to whom
the communication is directed.
</DIV>

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <I><U>Attendance at GameStop Annual Meetings</U></I></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
All members of the GameStop board of directors are expected to
attend in person GameStop&#146;s annual meetings of stockholders
and be available to address questions or concerns raised by
GameStop stockholders. All seven directors attended the 2004
GameStop annual meeting of stockholders.
</DIV>

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I>Compensation of Directors</I></B></TD>
</TR>

</TABLE>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Directors who are not employees of GameStop will receive
compensation of $30,000&nbsp;per annum and $1,000&nbsp;per
GameStop in-person board or committee meeting. In June 2004,
each of the directors who are not employees of GameStop or
Barnes&nbsp;&#38; Noble (Stephanie M. Shern, Edward A. Volkwein,
Gerald R. Szczepanski and Michael N. Rosen) were granted options
to acquire 21,000&nbsp;shares of GameStop Class&nbsp;A common
stock. Each of these options were granted at an exercise price
equal to the market price of the GameStop Class&nbsp;A common
stock on the grant date ($15.10) and each option vests in equal
increments over a three-year period and expires ten years from
the grant date. GameStop also expects to grant to each of the
directors who are not employees of GameStop 10,000&nbsp;shares
of restricted GameStop Class&nbsp;A common stock and options to
acquire 24,000&nbsp;shares of GameStop Class&nbsp;A common
stock. Each of the options will be granted at an exercise price
equal to the market price of the GameStop Class&nbsp;A common
stock on the grant date and each option will vest in equal
increments over a three-year period and expire ten years from
the grant date. The shares of restricted stock will vest in
equal increments over a two-year period. In addition, GameStop
reimburses its directors for expenses in connection with
attendance at GameStop board and committee meetings. Other than
with respect to reimbursement of expenses, directors who are
GameStop&#146;s employees do not receive additional compensation
for their services as directors.
</DIV>


<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I>Executive Officers</I></B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The following table sets forth the names and ages of
GameStop&#146;s executive officers and the positions they hold:
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; margin-top: 6pt; ">

<TR style="font-size: 1pt;">
    <TD width="44%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="46%">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD align="center" nowrap><B>Name</B></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Age</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap><B>Position</B></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    R. Richard Fontaine</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>63</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Chairman of the Board and Chief Executive Officer</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Daniel A. DeMatteo</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>57</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Vice Chairman and Chief Operating Officer</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Joseph DePinto</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>42</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    President</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    David W. Carlson</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>42</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Executive Vice President and Chief Financial Officer</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Ronald Freeman</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>57</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Executive Vice President of Distribution</TD>
</TR>

</TABLE>
</CENTER>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Information with respect to executive officers of GameStop who
also are directors is set forth in &#147;&#151;&nbsp;Nominees
for Election as Director&#148; and &#147;&#151;&nbsp;Other
Directors Whose Terms of Office Continue After the GameStop
Annual Meeting&#148; above.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>Joseph DePinto </B>has been GameStop&#146;s President since
March 2005. Prior to joining GameStop, Mr.&nbsp;DePinto was Vice
President of Operations of 7-Eleven, Inc. since March 2002.
Prior to March 2002,
</DIV>

<P align="center" style="font-size: 10pt;">103

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV align="left" style="font-size: 10pt;">
Mr.&nbsp;DePinto was Senior Vice President and Chief Operating
Officer for Thornton Quick Caf&#233;&nbsp;&#38; Market. Prior to
joining Thornton Quick Caf&#233;&nbsp;&#38; Market,
Mr.&nbsp;DePinto held various positions with PepsiCo, Inc.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>David W. Carlson </B>has been Executive Vice President and
Chief Financial Officer of GameStop or its predecessor companies
since November 1996. From 1989 to November 1996,
Mr.&nbsp;Carlson held various positions with Barnes&nbsp;&#38;
Noble, including Director of Finance, Director of Accounting and
Manager of Financial Reporting. Prior to 1989, Mr.&nbsp;Carlson
held various positions with the public accounting firm of KPMG
Peat Marwick.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>Ronald Freeman </B>has been GameStop&#146;s Executive Vice
President of Distribution since January 2004. From March 2000 to
January 2004, Mr.&nbsp;Freeman was GameStop&#146;s Vice
President of Distribution and Logistics. Mr.&nbsp;Freeman was
Vice President of Distribution/ Configuration for CompUSA from
July 1997 until March 2000. Mr.&nbsp;Freeman was Vice President
of Distribution and Logistics of Babbage&#146;s, a GameStop
predecessor company, from November 1996 until July 1997.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
GameStop&#146;s executive officers are elected by
GameStop&#146;s board of directors on an annual basis and serve
until the next annual meeting of GameStop&#146;s board of
directors or until their successors have been duly elected and
qualified.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='198'></A>
</DIV>

<!-- link1 "GameStop Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>GameStop Security Ownership of Certain Beneficial Owners and
Management and Related Stockholder Matters</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The following table sets forth the number of shares of GameStop
Class&nbsp;A common stock, Class&nbsp;B common stock and
exercisable options to purchase such stock beneficially owned on
August&nbsp;20, 2005 by each director and each of the executive
officers named in the summary compensation table in the
&#147;&#151;&nbsp;GameStop Executive Compensation&#148; section,
each holder of 5% or more of GameStop Class&nbsp;A common stock
or Class&nbsp;B common stock and all of GameStop&#146;s
directors and executive officers as a group. Except as otherwise
noted, the individual director or executive officer or his or
her family members had sole voting and investment power with
respect to the identified securities. The total number of shares
of GameStop Class&nbsp;A common stock and GameStop Class&nbsp;B
common stock outstanding as of August&nbsp;20, 2005 was
21,906,494 and 29,901,662, respectively.
</DIV>



<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; margin-top: 6pt; ">

<TR style="font-size: 1pt;">
    <TD width="3%">&nbsp;</TD>
    <TD width="51%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>


<TR style="font-size: 8pt;">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="14" align="center" nowrap><B>Shares Beneficially Owned</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="14" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>


<TR style="font-size: 8pt;">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap><B>Class&nbsp;A</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap><B>Class&nbsp;B</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap><B>Common Stock(1)</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap><B>Common Stock</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD colspan="2" align="center" nowrap><B>Name</B></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Shares</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>%</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Shares</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>%</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    FMR Corp.</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>4,676,893</TD>
    <TD align="left" valign="bottom" nowrap>(2)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>21.3</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    82 Devonshire Street<BR>
    Boston, MA 02109</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Wellington Management Company, LLP</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>2,907,800</TD>
    <TD align="left" valign="bottom" nowrap>(2)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>13.3</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    75 State Street<BR>
    Boston, MA 02109</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Franklin Resources, Inc.</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,718,370</TD>
    <TD align="left" valign="bottom" nowrap>(2)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>7.8</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    One Franklin Parkway<BR>
    San&nbsp;Mateo, CA 94403</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    LSV Asset Management</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,586,626</TD>
    <TD align="left" valign="bottom" nowrap>(2)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>5.3</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    1&nbsp;N.&nbsp;Wacker Drive<BR>
    Suite&nbsp;4000, Chicago, IL 60606</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    R. Richard Fontaine</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>961,600</TD>
    <TD align="left" valign="bottom" nowrap>(3)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>4.2</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Daniel A. DeMatteo</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>961,500</TD>
    <TD align="left" valign="bottom" nowrap>(4)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>4.2</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Joseph DePinto</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    David W. Carlson</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>606,000</TD>
    <TD align="left" valign="bottom" nowrap>(4)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>2.7</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Ronald Freeman</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>*</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Michael N. Rosen</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>17,000</TD>
    <TD align="left" valign="bottom" nowrap>(4)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>*</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>4,248</TD>
    <TD align="left" valign="bottom" nowrap>(5)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>*</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>
</CENTER>


<P align="center" style="font-size: 10pt;">104

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>


<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; ">

<TR style="font-size: 1pt;">
    <TD width="54%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>


<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="14" align="center" nowrap><B>Shares Beneficially Owned</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="14" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>


<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap><B>Class&nbsp;A</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap><B>Class&nbsp;B</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap><B>Common Stock(1)</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap><B>Common Stock</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD align="center" nowrap><B>Name</B></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Shares</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>%</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Shares</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>%</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Leonard Riggio</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>4,500,000</TD>
    <TD align="left" valign="bottom" nowrap>(4)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>17.0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>5,559,648</TD>
    <TD align="left" valign="bottom" nowrap>(6)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>18.6</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Stephanie Shern</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>23,000</TD>
    <TD align="left" valign="bottom" nowrap>(7)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>*</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Gerald R. Szczepanski</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>32,000</TD>
    <TD align="left" valign="bottom" nowrap>(7)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>*</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Edward A. Volkwein</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>23,000</TD>
    <TD align="left" valign="bottom" nowrap>(8)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>*</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    All directors and executive officers as a group (10&nbsp;persons)</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>7,124,100</TD>
    <TD align="left" valign="bottom" nowrap>(9)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>24.6</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>5,563,896</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>18.6</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>
</CENTER>


<DIV align="left" style="font-size: 3pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<DIV style="width: 18%; border-top: 1.0pt solid black; font-size: 1pt">&nbsp;</DIV>
</DIV>

<DIV style="margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>*</TD>
    <TD align="left">
    Less than 1.0%</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>


<TR valign="top">
    <TD>(1)&nbsp;</TD>
    <TD align="left">
    Shares of GameStop Class&nbsp;A common stock that an individual
    or group has a right to acquire within 60&nbsp;days after
    August&nbsp;20, 2005 pursuant to the exercise of options,
    warrants or other rights are deemed to be outstanding for the
    purpose of computing the beneficial ownership of shares and
    percentage of such individual or group, but are not deemed to be
    outstanding for the purpose of computing the beneficial
    ownership of shares and percentage of any other person or group
    shown in the table.</TD>
</TR>


<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>(2)&nbsp;</TD>
    <TD align="left">
    Information compiled from Schedule 13G filings.</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>(3)&nbsp;</TD>
    <TD align="left">
    Of these shares, 961,500 are issuable upon exercise of stock
    options.</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>(4)&nbsp;</TD>
    <TD align="left">
    All of these shares are issuable upon exercise of stock options.</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>(5)&nbsp;</TD>
    <TD align="left">
    These shares are owned by Mr.&nbsp;Rosen&#146;s wife.</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>(6)&nbsp;</TD>
    <TD align="left">
    Of these shares, Mr.&nbsp;Riggio is the direct beneficial owner
    of 3,475,077 shares of GameStop Class&nbsp;B common stock.
    Mr.&nbsp;Riggio is the indirect beneficial owner of 1,126,913
    shares of GameStop Class&nbsp;B common stock owned by
    Barnes&nbsp;&#38; Noble College Booksellers, Inc., a New York
    corporation, of which Mr.&nbsp;Riggio owns all of the currently
    outstanding voting securities. As co-trustee of The Riggio
    Foundation, a charitable trust, Mr.&nbsp;Riggio is the indirect
    beneficial owner of 654,946 shares of GameStop Class&nbsp;B
    common stock owned by The Riggio Foundation. Also included are
    302,712 shares of GameStop Class&nbsp;B common stock held in a
    rabbi trust established by Barnes&nbsp;&#38; Noble for the
    benefit of Mr.&nbsp;Riggio pursuant to a deferred compensation
    arrangement, but over which Mr.&nbsp;Riggio has no voting power.</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>


<TR valign="top">
    <TD>(7)&nbsp;</TD>
    <TD align="left">
    Of these shares, 22,000 are issuable upon exercise of stock
    options.</TD>
</TR>


<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>


<TR valign="top">
    <TD>(8)&nbsp;</TD>
    <TD align="left">
    Of these shares, 22,000 are issuable upon exercise of stock
    options. Of the remaining 1,000&nbsp;shares, 500&nbsp;shares are
    owned by Mr.&nbsp;Volkwein&#146;s wife, and 250&nbsp;shares each
    are owned by Mr.&nbsp;Volkwein&#146;s two children.</TD>
</TR>


<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>


<TR valign="top">
    <TD>(9)&nbsp;</TD>
    <TD align="left">
    Of these shares, 7,112,000 are issuable upon exercise of stock
    options.</TD>
</TR>


</TABLE>

<DIV align="left" style="font-size: 10pt;">
<A name='199'></A>
</DIV>

<!-- link1 "GameStop Compensation Committee Interlocks and Insider Participation" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>GameStop Compensation Committee Interlocks and Insider
Participation</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In September 2002, GameStop&#146;s board of directors
established a Compensation Committee, which currently consists
of Gerald R. Szczepanski and Edward A. Volkwein. None of
GameStop&#146;s executive officers serves as a member of the
board of directors or compensation committee of any entity that
has one or more executive officers serving as a member of
GameStop&#146;s board of directors or Compensation Committee.
</DIV>

<P align="center" style="font-size: 10pt;">105

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV align="left" style="font-size: 10pt;">
<A name='200'></A>
</DIV>

<!-- link1 "GameStop Executive Compensation" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>GameStop Executive Compensation</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The following table sets forth the compensation earned during
the years indicated by GameStop&#146;s chief executive officer
and GameStop&#146;s other executive officers.
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; margin-top: 6pt; ">

<TR style="font-size: 1pt;">
    <TD width="3%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Long-Term</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Compensation</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Awards</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Securities</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="7">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Underlying</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap><B>Annual Compensation(1)</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>GameStop</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>GameStop</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Options</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>All Other</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD colspan="2" align="center" nowrap><B>Name and Principal Position</B></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Fiscal Year</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Salary ($)</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Bonus ($)</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>(Shs.)</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Compensation ($)(2)</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    R. Richard Fontaine</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>2004</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>566,153</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>598,500</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>150,000</TD>
    <TD align="left" valign="bottom" nowrap>(4)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>13,031</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Chairman of the Board and</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>2003</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>518,462</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>650,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>141,000</TD>
    <TD align="left" valign="bottom" nowrap>(5)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>10,600</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Chief Executive Officer</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>2002</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>493,873</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>468,750</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>63,000</TD>
    <TD align="left" valign="bottom" nowrap>(6)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>10,271</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Daniel A. DeMatteo</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>2004</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>466,646</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>493,500</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>150,000</TD>
    <TD align="left" valign="bottom" nowrap>(4)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>9,065</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Vice Chairman and Chief</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>2003</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>425,138</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>533,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>141,000</TD>
    <TD align="left" valign="bottom" nowrap>(5)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>7,126</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Operating Officer</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>2002</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>405,150</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>384,375</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>63,000</TD>
    <TD align="left" valign="bottom" nowrap>(6)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>6,995</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    David W. Carlson</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>2004</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>273,077</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>144,375</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>75,000</TD>
    <TD align="left" valign="bottom" nowrap>(4)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>9,539</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Executive Vice President,</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>2003</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>248,077</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>175,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>75,000</TD>
    <TD align="left" valign="bottom" nowrap>(5)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>8,173</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Chief Financial Officer</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>2002</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>223,077</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>118,125</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>45,000</TD>
    <TD align="left" valign="bottom" nowrap>(6)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>7,514</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    and Assistant Secretary</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Ronald Freeman(3)</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>2004</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>249,039</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>93,750</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>66,000</TD>
    <TD align="left" valign="bottom" nowrap>(4)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>8,973</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Executive Vice President</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>2003</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>198,077</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>80,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>66,000</TD>
    <TD align="left" valign="bottom" nowrap>(5)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>7,491</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    of Distribution</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>2002</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>174,038</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>39,375</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>9,000</TD>
    <TD align="left" valign="bottom" nowrap>(6)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>6,421</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>
</CENTER>

<DIV align="left" style="font-size: 3pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<DIV style="width: 18%; border-top: 1.0pt solid black; font-size: 1pt">&nbsp;</DIV>
</DIV>

<DIV style="margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>(1)&nbsp;</TD>
    <TD align="left">
    None of the perquisites or other benefits paid to each named
    executive officer exceeded the lesser of $50,000 or 10% of the
    total annual salary and bonus received by each named executive
    officer.</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>(2)&nbsp;</TD>
    <TD align="left">
    Consists of contributions under GameStop&#146;s 401(k) plan.</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>(3)&nbsp;</TD>
    <TD align="left">
    Mr.&nbsp;Freeman was appointed as Executive Vice President in
    January 2004. The amounts presented above for periods prior to
    2004 reflect compensation while he served as GameStop&#146;s
    Vice President of Distribution and Logistics.</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>(4)&nbsp;</TD>
    <TD align="left">
    Reflects options granted on March&nbsp;11, 2005, based on
    performance for the fiscal year ended January&nbsp;29, 2005.</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>(5)&nbsp;</TD>
    <TD align="left">
    Reflects options granted on March&nbsp;2, 2004, based on
    performance for the fiscal year ended January&nbsp;31, 2004.</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>(6)&nbsp;</TD>
    <TD align="left">
    Reflects options granted on March&nbsp;26, 2003, based on
    performance for the fiscal year ended February&nbsp;1, 2003.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">106

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I>Grants of Stock Options in Last Fiscal Year</I></B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The following table shows all grants of options to acquire
shares of GameStop Class&nbsp;A common stock granted to the
executive officers named in the summary compensation table in
the &#147;&#151;&nbsp;GameStop Executive Compensation&#148;
section of this joint proxy statement-prospectus for the year
ended January&nbsp;29, 2005. The options for executive officers
to acquire shares of GameStop Class&nbsp;A common stock were
granted on March&nbsp;11, 2005, based on performance for the
year ended January&nbsp;29, 2005. The potential realizable value
is calculated based on the term of the option at its date of
grant. It is calculated assuming that the fair market value of
GameStop Class&nbsp;A common stock on the date of grant
appreciates at the indicated annual rates compounded annually
for the entire term of the option and that the option is
exercised and sold on the last day of its term for the
appreciated stock. These numbers are calculated based on the
requirements of the SEC and do not reflect GameStop&#146;s
estimate of future stock price growth.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Option/ SAR Grants In Last Fiscal Year</B>
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; margin-top: 6pt; ">

<TR style="font-size: 1pt;">
    <TD width="31%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
</TR>


<TR style="font-size: 7pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="18" align="center" nowrap><B>Individual Grants</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="18" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="7">&nbsp;</TD>
</TR>

<TR style="font-size: 7pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>% of</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="11">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap><B>Potential Realizable Value</B></TD><TD></TD>
</TR>

<TR style="font-size: 7pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Number of</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Total</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="11">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap><B>at Assumed Annual Rates of</B></TD><TD></TD>
</TR>

<TR style="font-size: 7pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Securities</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Options</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Exercise</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Market</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap><B>Stock Price Appreciation for</B></TD><TD></TD>
</TR>

<TR style="font-size: 7pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Underlying</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Granted</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>or Base</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Price on</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap><B>Option Term</B></TD><TD></TD>
</TR>

<TR style="font-size: 7pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Options</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>in Fiscal</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Price</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Date of</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Expiration</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR style="font-size: 7pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Granted</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Year</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>($/Shs.)</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Grant</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Date</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>5% ($)</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>10% ($)</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    R. Richard Fontaine<BR>
    GameStop Class&nbsp;A common stock</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>150,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>7.1</TD>
    <TD align="left" valign="bottom" nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>20.25</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>20.25</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>3/10/15</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>1,910,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>4,841,000</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Daniel A. DeMatteo<BR>
    GameStop Class&nbsp;A common stock</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>150,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>7.1</TD>
    <TD align="left" valign="bottom" nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>20.25</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>20.25</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>3/10/15</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>1,910,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>4,841,000</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    David W. Carlson<BR>
    GameStop Class&nbsp;A common stock</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>75,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>3.6</TD>
    <TD align="left" valign="bottom" nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>20.25</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>20.25</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>3/10/15</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>955,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>2,420,000</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Ronald Freeman<BR>
    GameStop Class&nbsp;A common stock</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>66,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>3.1</TD>
    <TD align="left" valign="bottom" nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>20.25</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>20.25</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>3/10/15</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>841,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>2,130,000</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>
</CENTER>

<P align="center" style="font-size: 10pt;">107

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I>Fiscal Year End Option Value</I></B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The following table provides information for the executive
officers named in the summary compensation table in the
&#147;&#151;&nbsp;GameStop Executive Compensation&#148; section
of this joint proxy statement-prospectus regarding exercises of
options to purchase shares of GameStop Class&nbsp;A common stock
during the year ended January&nbsp;29, 2005 and GameStop&#146;s
options held as of January&nbsp;29, 2005 by any of
GameStop&#146;s named executive officers. The values realized
upon exercise in the table have been calculated using the stock
price at the times of exercise. The year-end values in the table
for GameStop Class&nbsp;A common stock have been calculated
based on the $18.80&nbsp;per share closing price of GameStop
Class&nbsp;A common stock on January&nbsp;28, 2005 (the last
trading date of the fiscal year), less the applicable exercise
price.
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; margin-top: 6pt; ">

<TR style="font-size: 1pt;">
    <TD width="28%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
</TR>


<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="22" align="center" nowrap><B>Aggregated Option/SAR Exercises in Last Fiscal Year</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="22" align="center" nowrap><B>and Fiscal Year End Option/SAR Values</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="22" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>


<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="7">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap><B>Number of Securities</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap><B>Value of Unexercised</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="7">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap><B>Underlying Unexercised</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap><B>In-the-Money</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Shares</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap><B>Options at Fiscal Year End</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap><B>Options at Fiscal Year End</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Acquired on</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Value</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Exercise</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Realized</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Exercisable</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Unexercisable</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Exercisable</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Unexercisable</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>


<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap><B>(Shs.)</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap><B>($)</B></TD><TD></TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    R. Richard Fontaine GameStop Class&nbsp;A common stock</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>673,500</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>403,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>3,744,500</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>502,500</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Daniel A. DeMatteo GameStop Class&nbsp;A common stock</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>673,500</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>403,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>3,744,500</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>502,500</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    David W. Carlson GameStop Class&nbsp;A common stock</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>449,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>222,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>3,347,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>321,000</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Ronald Freeman<BR>
    GameStop Class&nbsp;A common stock</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>59,250</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>81,105</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>34,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>89,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>27,200</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>70,750</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>
</CENTER>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Equity Compensation Plan Information</B>
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; margin-top: 6pt; ">

<TR style="font-size: 1pt;">
    <TD width="38%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Number of Securities</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Remaining Available</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>for Future Issuance</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Number of Securities</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Under Equity</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>to be Issued</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Weighted-Average</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Compensation Plans</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Upon Exercise of</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Exercise Price of</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>(Excluding Securities</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Outstanding Options,</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Outstanding Options,</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Reflected in</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Warrants and Rights</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Warrants and Rights</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Column&nbsp;(a))</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD align="center" nowrap><B>Plan Category</B></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>(a)</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>(b)</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>(c)</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <B>Equity compensation plans approved by security holders</B></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>11,406,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>10.86</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>5,168,000</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <B>Equity compensation plans not approved by security holders</B></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>not applicable</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <B>Total</B></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>11,406,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>10.86</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>5,168,000</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

</TABLE>
</CENTER>

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I>Employment Agreements</I></B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
GameStop has entered into employment agreements with R. Richard
Fontaine and Daniel A. DeMatteo. The term of each employment
agreement commenced on April&nbsp;11, 2005 and continues for a
period of three years thereafter, with automatic annual renewals
thereafter unless either party gives notice of non-renewal at
least six months prior to automatic renewal.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Mr.&nbsp;Fontaine&#146;s minimum annual salary during the term
of his employment under the employment agreement shall be no
less than $650,000. Mr.&nbsp;DeMatteo&#146;s minimum annual
salary during the term of his employment under the employment
agreement shall be no less than $535,000. Annual bonus
compensation
</DIV>

<P align="center" style="font-size: 10pt;">108

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV align="left" style="font-size: 10pt;">
will be based on the formula and targets established under and
in accordance with GameStop&#146;s Supplemental Compensation
Plan.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Each executive shall be entitled to all benefits afforded to key
management personnel or as determined by the board of directors
of GameStop, including, but not limited to, stock and stock
option benefits, insurance programs, pension plans, vacation,
sick leave, expense accounts and retirement benefits.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Each executive&#146;s employment may be terminated upon death,
disability, by GameStop with or without cause or by the
executive within twelve months of a good reason event. A good
reason event is defined as a change of control, a reduction in
compensation or a material reduction in benefits or
responsibilities, or a relocation of at least 50&nbsp;miles.
Among other things, the employment agreement includes a
severance arrangement if the executive is terminated by GameStop
without cause or by the executive for good reason, which
provides each executive with his base salary through the term of
the agreement, plus the average of the last three annual
bonuses, with a one year minimum, plus the continuation of
medical benefits for 18&nbsp;months and the release of all stock
option restrictions.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Each executive is also restricted from competing with GameStop
for the later of the expiration of the term of the agreement or
one year after termination of employment, unless the contract is
terminated by GameStop without cause or by the executive for
good reason.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='201'></A>
</DIV>

<!-- link1 "GameStop Compensation Committee Report on Executive Compensation" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>GameStop Compensation Committee Report on Executive
Compensation</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
GameStop&#146;s executive officer compensation program is
administered by the GameStop Compensation Committee of the
GameStop board of directors, as discussed below. The program is
based upon the following guiding principles:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    1.&nbsp;The pay and benefits provided by GameStop to its
    executive officers should be competitive and allow GameStop to
    attract and retain individuals whose skills are critical to the
    long-term success of GameStop.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    2.&nbsp;The compensation offered by GameStop should reward and
    motivate individual and team performance in attaining business
    objectives and maximizing stockholder value.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    3.&nbsp;Compensation awards should be based on the fundamental
    principle of aligning the long-term interests of GameStop&#146;s
    employees with those of GameStop&#146;s stockholders.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The GameStop Compensation Committee reviews GameStop&#146;s
executive compensation program each year. This review includes a
comparison of GameStop&#146;s executive compensation, corporate
performance, stock appreciation and total return to GameStop
stockholders with that of other companies, including other
retailers.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The key elements of GameStop&#146;s executive compensation
package consist of base salary, annual bonus and stock options.
GameStop&#146;s policies with respect to each of these elements
are discussed below. In addition, while the elements of
compensation described below are considered separately, the
GameStop Compensation Committee also considers and reviews the
full compensation package afforded by GameStop to its executive
officers, including insurance and other benefits. The GameStop
Compensation Committee makes its determinations after receiving
and considering the recommendations of GameStop&#146;s chief
executive officer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Base Salaries.</I> An executive officer&#146;s base salary is
determined by evaluating the responsibilities of the position
held, the individual&#146;s experience and the competitive
marketplace for executive talent. The base salary is intended to
be competitive with base salaries paid to executive officers
with comparable qualifications, experience and responsibilities
at other companies.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Annual Bonuses.</I> In addition to a base salary, each
executive officer is eligible for an annual cash bonus. Bonuses
for executive officers are based upon the criteria used in, and
are calculated in accordance with, GameStop&#146;s Supplemental
Compensation Plan.
</DIV>

<P align="center" style="font-size: 10pt;">109

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Supplemental Compensation Plan provides that participating
executive officers are entitled to a cash bonus in an amount
equal to a percentage of their base salary which shall be
pre-determined for each participating executive officer by the
GameStop Compensation Committee for each fiscal year. The
purpose of the Supplemental Compensation Plan is to permit
GameStop, through awards of annual incentive compensation that
satisfy the requirements for performance-based compensation
under Section&nbsp;162(m) of the Code, to attract and retain
management who, because of the extent of their responsibilities,
can and do make significant contributions to the success of
GameStop by their ability, industry, loyalty and exceptional
service. The bonus amount is calculated after each fiscal year
in accordance with a sliding scale formula based on the extent
to which a pre-established performance target is attained. In
general, not later than 90&nbsp;days after the commencement of
each fiscal year of GameStop (and before 25% of the relevant
period of service has elapsed), the GameStop Compensation
Committee will establish in writing a performance target for
each participating executive officer (the Target), the
attainment of which is substantially uncertain. Targets are
subject to adjustment for recapitalizations, dividends, stock
splits and reverse splits, reorganizations, issuances of
additional shares, redemptions of shares, option or warrant
exercises, reclassifications, significant acquisitions and
divestitures and other extraordinary events.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Each participating executive officer is entitled to receive a
cash bonus in the amount of their pre-determined percentage of
Base Salary (the Target Bonus) as follows:
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; margin-top: 6pt; ">

<TR style="font-size: 1pt;">
    <TD width="67%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="14%">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Then the Percentage of the</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD align="left" nowrap><B>If the Fiscal Year Results were:</B></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Target Bonus Received is:</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Less than 85% of Target</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>None</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    85% or more but less than 90% of Target</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>50</TD>
    <TD align="left" valign="bottom" nowrap>%</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    90% or more but less than 100% of Target</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>75</TD>
    <TD align="left" valign="bottom" nowrap>%</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    100% or more but less than 110% of Target</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>100</TD>
    <TD align="left" valign="bottom" nowrap>%</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    110% or more but less than 125% of Target</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>110</TD>
    <TD align="left" valign="bottom" nowrap>%</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    125% or more of Target</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>125</TD>
    <TD align="left" valign="bottom" nowrap>%</TD>
</TR>

</TABLE>
</CENTER>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Notwithstanding the foregoing, in no event will the maximum cash
bonus payable to any participating executive officer under the
Supplemental Compensation Plan exceed $1,500,000 with respect to
any fiscal year. No bonuses are paid until the GameStop
Compensation Committee certifies the extent to which the Target
has been attained. R. Richard Fontaine, Daniel A. DeMatteo and
David W. Carlson are the senior executive officers of GameStop
currently participating in the Supplemental Compensation Plan.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Stock Options.</I> The general purpose of long-term awards,
currently in the form of stock options, is to align the
interests of the executive officers with the interests of
GameStop&#146;s stockholders. Additionally, long-term awards
offer executive officers an incentive for the achievement of
superior performance over time and foster the retention of key
management personnel. In determining annual stock option grants,
the GameStop Compensation Committee bases its decision on the
individual&#146;s performance and potential to improve
stockholder value. The issuance of options at 100&nbsp;percent
of the fair market value also assures that executives will
receive a benefit only when the stock price increases.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Compensation of Chief Executive Officer.</I> R. Richard
Fontaine&#146;s compensation is determined pursuant to the
principles noted above, including a bonus as determined by the
criteria used in the Supplemental Compensation Plan. Specific
consideration is given to Mr.&nbsp;Fontaine&#146;s
responsibilities and experience in the industry and the
compensation package awarded to chief executive officers of
other comparable companies.
</DIV>

<P align="center" style="font-size: 10pt;">110

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<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Impact of Section&nbsp;162(m) of the Code.</I> The GameStop
Compensation Committee has considered the potential impact of
Section&nbsp;162(m) of the Code, adopted under the Revenue
Reconciliation Act of 1993. This section disallows a tax
deduction for any publicly held corporation, for individual
compensation exceeding $1,000,000 in any taxable year paid to
its chief executive officer or any of its four other highest
paid officers unless (i)&nbsp;the compensation is payable solely
on account of the attainment of performance goals, (ii)&nbsp;the
performance goals are determined by a committee of two or more
outside directors, (iii)&nbsp;the material terms under which
compensation is to be paid are disclosed to and approved by
stockholders and (iv)&nbsp;the determining committee certifies
that the performance goals were met. Because it is in the best
interests of GameStop to qualify to the maximum extent possible
the compensation of its executives for deductibility under
applicable tax laws, GameStop obtained stockholder approval in
July 2003 for the Supplemental Compensation Plan, which provides
for the payment of compensation in compliance with the above
guidelines.
</DIV>

<DIV style="margin-top: 24pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="60%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <B>GameStop Compensation Committee</B></TD>
</TR>

<TR>
    <TD style="font-size: 24pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Gerald R. Szczepanski, Chair</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Edward A. Volkwein</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">111

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<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV align="left" style="font-size: 10pt;">
<A name='202'></A>
</DIV>

<!-- link1 "Performance Graph -- GameStop Class A Common Stock" -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Performance Graph&nbsp;&#151; GameStop Class&nbsp;A Common
Stock</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The following graph compares the cumulative total stockholder
return on the GameStop Class&nbsp;A common stock for the period
commencing February&nbsp;12, 2002 (the date of GameStop&#146;s
initial public offering) through January&nbsp;28, 2005 (the last
trading date of GameStop fiscal 2004) with the cumulative total
return on the Standard&nbsp;&#38; Poor&#146;s 500 Stock Index
(the S&#38;P 500), the Dow Jones Retailers, Other Specialty
Industry Group Index (the Dow Jones Specialty Retailers Index)
and EB over the same period. Total return values were calculated
based on cumulative total return assuming (i)&nbsp;the
investment of $100 in GameStop Class&nbsp;A common stock, the
S&#38;P 500, the Dow Jones Specialty Retailers Index and EB on
February&nbsp;12, 2002 and (ii)&nbsp;reinvestment of dividends.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<IMG src="y09199ey0919904.gif" alt="(PERFORMANCE GRAPH)">
</DIV>

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    <TD align="center" nowrap style="border-top: 1pt solid #000000;border-left:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD style="border-left:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="center" nowrap><B>February&nbsp;12, 2002</B></TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="center" nowrap><B>February&nbsp;1, 2003</B></TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="center" nowrap><B>January&nbsp;31, 2004</B></TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="center" nowrap><B>January&nbsp;29, 2005</B></TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
</TR>


<TR valign="bottom" style="font-size: 1px">
    <TD align="center" nowrap style="border-top: 1pt solid #000000;border-left:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top" style="border-left:1.5pt solid #000000;">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;GameStop&#146;s Class&nbsp;A common stock</DIV>
    </TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>100.00</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>47.22</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>92.22</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>104.44</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD align="left" style="border-top: 1pt solid #000000;border-left:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>

</TR>

<TR>
    <TD align="left" valign="top" style="border-left:1.5pt solid #000000;">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;EB</DIV>
    </TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>100.00</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>37.50</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>68.51</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>93.51</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD align="left" style="border-top: 1pt solid #000000;border-left:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>

</TR>

<TR>
    <TD align="left" valign="top" style="border-left:1.5pt solid #000000;">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;S&#38;P 500</DIV>
    </TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>100.00</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>71.84</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>97.12</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>105.77</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD align="left" style="border-top: 1pt solid #000000;border-left:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>

</TR>

<TR>
    <TD align="left" valign="top" style="border-left:1.5pt solid #000000;">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;Dow Jones Specialty Retailers</DIV>
    </TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>100.00</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>111.80</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>119.11</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>103.66</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>

</TR>

</TABLE>
</CENTER>

<P align="center" style="font-size: 10pt;">112
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV align="left" style="font-size: 10pt;">
<A name='203'></A>
</DIV>

<!-- link1 "Performance Graph -- GameStop Class B Common Stock" -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Performance Graph&nbsp;&#151; GameStop Class&nbsp;B Common
Stock</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The following graph compares the cumulative total stockholder
return on the GameStop Class&nbsp;B common stock for the period
commencing November&nbsp;12, 2004 (the date of distribution by
Barnes&nbsp;&#38; Noble) through January&nbsp;28, 2005 (the last
trading date of GameStop fiscal 2004) with the cumulative total
return on the S&#38;P 500, the Dow Jones Specialty Retailers
Index and EB over the same period. Total return values were
calculated based on cumulative total return assuming
(i)&nbsp;the investment of $100 in the GameStop Class&nbsp;B
common stock, the S&#38;P 500, the Dow Jones Specialty Retailers
Index and EB on November&nbsp;12, 2004 and
(ii)&nbsp;reinvestment of dividends.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<IMG src="y09199ey0919905.gif" alt="(PERFORMANCE GRAPH)">
</DIV>

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    <TD width="2%">&nbsp;</TD>
    <TD width="14%">&nbsp;</TD>
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</TR>


<TR valign="bottom" style="font-size: 1px">
    <TD align="center" nowrap style="border-top: 1pt solid #000000;border-left:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD style="border-left:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="center" nowrap><B>November&nbsp;12, 2004</B></TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="center" nowrap><B>January&nbsp;28, 2005</B></TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
</TR>


<TR valign="bottom" style="font-size: 1px">
    <TD align="center" nowrap style="border-top: 1pt solid #000000;border-left:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top" style="border-left:1.5pt solid #000000;">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;GameStop&#146;s Class&nbsp;B common stock</DIV>
    </TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>100.00</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>78.13</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD align="left" style="border-top: 1pt solid #000000;border-left:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>

</TR>

<TR>
    <TD align="left" valign="top" style="border-left:1.5pt solid #000000;">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;EB</DIV>
    </TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>100.00</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>84.48</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD align="left" style="border-top: 1pt solid #000000;border-left:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>

</TR>

<TR>
    <TD align="left" valign="top" style="border-left:1.5pt solid #000000;">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;S&#38;P 500</DIV>
    </TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>100.00</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>96.07</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD align="left" style="border-top: 1pt solid #000000;border-left:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>

</TR>

<TR>
    <TD align="left" valign="top" style="border-left:1.5pt solid #000000;">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;Dow Jones Specialty Retailers</DIV>
    </TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>100.00</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>98.92</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>

</TR>

</TABLE>
</CENTER>

<DIV align="left" style="font-size: 10pt;">
<A name='204'></A>
</DIV>

<!-- link1 "GameStop -- Certain Relationships and Related Transactions" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>GameStop&nbsp;&#151; Certain Relationships and Related
Transactions</B>
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I>Agreements With Barnes&nbsp;&#38; Noble</I></B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In connection with the consummation of GameStop&#146;s initial
public offering in February 2002, GameStop entered into various
agreements with Barnes&nbsp;&#38; Noble relating to
GameStop&#146;s relationship with Barnes&nbsp;&#38;&nbsp;Noble
following the completion of GameStop&#146;s initial public
offering.
</DIV>

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <I><U>Separation Agreement</U></I></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
GameStop entered into a &#147;separation agreement&#148; with
Barnes&nbsp;&#38; Noble, which governs GameStop&#146;s
respective rights and duties with respect to its initial public
offering and the distribution to Barnes&nbsp;&#38;
</DIV>

<P align="center" style="font-size: 10pt;">113
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<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV align="left" style="font-size: 10pt;">
Noble stockholders of its shares of GameStop&#146;s capital
stock (the &#147;spin-off&#148;), and contains covenants
designed to facilitate the spin-off and to protect its intended
tax-free nature.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Under the separation agreement, GameStop agreed not to take
certain actions without the approval of Barnes&nbsp;&#38; Noble
or the satisfaction of certain procedures. These actions include:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    until two years after the spin-off, entering into or permitting
    any transaction or series of transactions which would result in
    a person or persons acquiring or having the right to acquire
    shares of GameStop&#146;s capital stock that would comprise 50%
    or more of either the value of all outstanding shares of
    GameStop&#146;s capital stock or the total combined voting power
    of GameStop&#146;s outstanding voting stock;&nbsp;and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    until two years after the spin-off, liquidating, disposing of,
    or otherwise discontinuing the conduct of any portion of
    GameStop&#146;s active trade or business.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
GameStop has generally agreed to indemnify Barnes&nbsp;&#38;
Noble and its affiliates against any and all tax-related losses
incurred by Barnes&nbsp;&#38; Noble in connection with any
proposed tax assessment or tax controversy with respect to the
spin-off to the extent caused by any breach by GameStop of any
of its representations, warranties or covenants made in the
separation agreement. This indemnification does not apply if
Barnes&nbsp;&#38; Noble permits GameStop to take certain actions
or if GameStop otherwise complies with the terms of the
separation agreement. As contemplated by the separation
agreement, it is a condition to the closing of the mergers that
GameStop deliver a tax opinion to Barnes&nbsp;&#38; Noble
concluding that the mergers will not adversely affect the
tax-free treatment of the spin-off. Upon delivery of such tax
opinion in form and substance reasonably acceptable to
Barnes&nbsp;&#38; Noble, GameStop will have complied with its
obligations under the separation agreement regarding the
mergers. However, the remaining provisions of the separation
agreement will survive the closing of the mergers.
</DIV>

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <I><U>Insurance Agreement</U></I></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
GameStop entered into an &#147;insurance agreement&#148; with
Barnes&nbsp;&#38; Noble, pursuant to which Barnes&nbsp;&#38;
Noble allowed GameStop to participate in Barnes&nbsp;&#38;
Noble&#146;s worker&#146;s compensation, property and general
liability and directors&#146; and officers&#146; liability
insurance programs. GameStop shall reimburse Barnes&nbsp;&#38;
Noble for GameStop&#146;s pro rata share of the cost of
providing these insurance programs. In GameStop fiscal 2004,
Barnes&nbsp;&#38; Noble charged GameStop approximately
$2,662,000 for GameStop&#146;s insurance program.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The insurance agreement terminated on June&nbsp;1, 2005 and
GameStop has obtained new insurance coverage.
</DIV>

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <I><U>Operating Agreement</U></I></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
GameStop entered into an &#147;operating agreement&#148; with
Barnes&nbsp;&#38; Noble, pursuant to which it operates the
existing video game departments in ten Barnes&nbsp;&#38; Noble
stores. GameStop pays Barnes&nbsp;&#38; Noble a licensing fee
equal to 7.0% of the aggregate gross sales of each such
department. In GameStop fiscal 2004, Barnes&nbsp;&#38; Noble
charged GameStop approximately $859,000 in connection with its
operation of such departments in Barnes&nbsp;&#38; Noble stores.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The operating agreement will remain in force unless terminated:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    by mutual agreement of GameStop and Barnes&nbsp;&#38; Noble;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    automatically, in the event that GameStop no longer operates any
    department within Barnes&nbsp;&#38; Noble&#146;s stores;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    by GameStop or Barnes&nbsp;&#38; Noble, with respect to any
    department, upon not less than 30&nbsp;days prior notice;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    by Barnes&nbsp;&#38; Noble because of an uncured default by
    GameStop;</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">114

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<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    automatically, with respect to any department, if the applicable
    store lease in which GameStop operates that department expires
    or is terminated prior to its expiration date;&nbsp;or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    automatically, in the event of the bankruptcy or a change in
    control of either GameStop or Barnes&nbsp;&#38; Noble.</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <I><U>Tax Disaffiliation Agreement</U></I></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
GameStop entered into a &#147;tax disaffiliation agreement&#148;
with Barnes&nbsp;&#38; Noble which governs the allocation of
federal, state, local and foreign tax liabilities and contains
agreements with respect to other tax matters arising prior to
and after the date of GameStop&#146;s initial public offering.
The tax disaffiliation agreement became effective at the time of
GameStop&#146;s initial public offering and, among other things,
sets forth the procedures for amending returns filed prior to
the date of GameStop&#146;s initial public offering, tax audits
and contests and record retention. In general, GameStop is
responsible for filing and paying its separate taxes for periods
after GameStop&#146;s initial public offering and
Barnes&nbsp;&#38; Noble is responsible for filing and paying its
separate taxes for periods after GameStop&#146;s initial public
offering. In general, with respect to consolidated or combined
returns that include Barnes&nbsp;&#38; Noble and GameStop prior
to GameStop&#146;s initial public offering, Barnes&nbsp;&#38;
Noble is responsible for filing and paying the related tax
liabilities and will retain any related tax refunds.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Under the tax disaffiliation agreement, without the prior
written consent of Barnes&nbsp;&#38; Noble, GameStop may not
amend any tax return for a period in which GameStop was a member
of Barnes&nbsp;&#38; Noble&#146;s consolidated tax group.
Barnes&nbsp;&#38; Noble has the sole right to represent the
interests of its consolidated tax group, including GameStop, in
any tax audits, litigation or appeals that involve, directly or
indirectly, periods prior to the time that GameStop ceased to be
a member of their consolidated tax group (the date of the
offering), unless GameStop is solely liable for the taxes at
issue and any redetermination of taxes would not result in any
additional tax liability or detriment to any member of
Barnes&nbsp;&#38; Noble&#146;s consolidated tax group. In
addition, GameStop and Barnes&nbsp;&#38; Noble have agreed to
provide each other with the cooperation and information
reasonably requested by the other in connection with the
preparation or filing of any amendment to any tax return, the
determination and payment of any amounts owed relating to
periods prior to the date of the offering and in the conduct of
any tax audits, litigation or appeals.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
GameStop and Barnes&nbsp;&#38; Noble have agreed to indemnify
each other for tax or other liabilities resulting from the
failure to pay any taxes required to be paid under the tax
disaffiliation agreement, tax or other liabilities resulting
from negligence in supplying inaccurate or incomplete
information or the failure to cooperate with the preparation of
any tax return or the conduct of any tax audits, litigation or
appeals. The tax disaffiliation agreement requires GameStop to
retain records, documents and other information necessary for
the audit of tax returns relating to periods prior to the date
GameStop ceased to be a member of Barnes&nbsp;&#38; Noble&#146;s
consolidated tax group and to provide reasonable access to
Barnes&nbsp;&#38; Noble with respect to such records, documents
and information.
</DIV>

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I>Other Transactions and Relationships</I></B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
GameStop has agreed to pay the legal fees and expenses of one of
its directors, Leonard Riggio, in connection with the
transactions contemplated under the merger agreement, including
Mr.&nbsp;Riggio&#146;s legal fees and expenses incurred in
connection with the preparation and filing of
Mr.&nbsp;Riggio&#146;s notification and report form under the
HSR Act (including the filing fee) and in connection with the
negotiation of the Riggio Group voting agreement. GameStop
estimates that the legal fees and expenses in connection with
the preparation and filing of Mr.&nbsp;Riggio&#146;s
notification and report form under the HSR Act and in connection
with the negotiation of the Riggio Group voting agreement will
be approximately $150,000.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In October 2004, GameStop&#146;s board of directors authorized a
repurchase of GameStop Class&nbsp;B common stock held by Barnes
&#38; Noble. GameStop repurchased 6,107,000 shares of GameStop
Class&nbsp;B common stock at a price equal to $18.26 per share
for aggregate consideration of $111.5&nbsp;million. The
repurchase price per share was determined by using a discount of
3.5% on the last reported trade of the
</DIV>

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<DIV align="left" style="font-size: 10pt;">
GameStop Class&nbsp;A common stock on the NYSE prior to the time
of the transaction. GameStop paid $37.5&nbsp;million in cash and
issued a promissory note in the principal amount of
$74.0&nbsp;million, which is payable in installments over the
next three years and bears interest at 5.5% per annum, payable
when principal installments are due. GameStop made a scheduled
principal payment of $37.5&nbsp;million on the promissory note
in January 2005. Interest expense on the promissory note for the
52 weeks ended January&nbsp;29, 2005 totaled $1.3&nbsp;million.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In July 2003, GameStop purchased an airplane from a company
controlled by a member of the GameStop board of directors. The
purchase price was $9.5&nbsp;million and was negotiated through
an independent third party following an independent appraisal.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Michael N. Rosen, GameStop&#146;s Secretary and one of
GameStop&#146;s directors, is a partner of the New York office
of Bryan Cave LLP, which is counsel to GameStop.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='205'></A>
</DIV>

<!-- link1 "GameStop Registered Independent Public Accounting Firm" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>GameStop Registered Independent Public Accounting Firm</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The firm of BDO Seidman, LLP has been selected as the
independent registered public accounting firm for GameStop.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The independent accountants examine annual financial statements
and provide other permissible non-audit and tax-related services
for GameStop. GameStop and the GameStop Audit Committee have
considered whether the non-audit services provided by BDO
Seidman are compatible with maintaining the independence of BDO
Seidman in its audit of GameStop and are not considered
prohibited services under the Sarbanes-Oxley Act of 2002.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Audit Fees.</I> In GameStop fiscal 2004, the professional
services of BDO Seidman totaled $575,907 for GameStop&#146;s
audit of the annual financial statements, for reviews of
GameStop&#146;s financial statements included in GameStop&#146;s
quarterly reports on Form&nbsp;10-Q filed with the SEC and for
the audit of GameStop&#146;s internal controls over financial
reporting. For GameStop fiscal 2003, GameStop paid BDO Seidman
$258,253 for professional services rendered for GameStop&#146;s
audit of the annual financial statements and for reviews of
GameStop&#146;s financial statements included in GameStop&#146;s
quarterly reports on Form&nbsp;10-Q filed with the SEC.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Audit-Related Fees.</I> In GameStop fiscal 2004, GameStop
paid BDO Seidman $122,465 for services in respect of employee
benefit plan audits ($9,000) and consultation concerning
financial accounting and reporting standards ($113,465). In
GameStop fiscal 2003, GameStop paid BDO Seidman $13,450 for
services in respect of employee benefit plan audits ($11,000)
and consultation concerning financial accounting and reporting
standards ($2,450).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Tax Fees.</I> In GameStop fiscal 2004, GameStop paid BDO
Seidman $355,285 for tax-related services. In GameStop fiscal
2003, GameStop paid BDO Seidman $59,390 for tax-related
services. Tax-related services included professional services
rendered for tax compliance, tax advice and tax planning.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>All Other Fees.</I> GameStop did not pay BDO Seidman any
other fees in GameStop fiscal 2004 or fiscal 2003.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Pre-approval Policies and Procedures.</I> The GameStop Audit
Committee Charter adopted by the GameStop board of directors of
GameStop requires that, among other things, the GameStop Audit
Committee pre-approve the rendering by GameStop&#146;s
independent auditor of all audit and permissible non-audit
services. Accordingly, as part of its policies and procedures,
the GameStop Audit Committee considers and pre-approves any such
audit and permissible non-audit services on a case-by-case
basis. Since its formation in September 2002, the GameStop Audit
Committee has approved the services provided by BDO Seidman
referred to above.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='206'></A>
</DIV>

<!-- link1 "GameStop Audit Committee Report on the Fiscal Year Ended January 29, 2005" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>GameStop Audit Committee Report on the Fiscal Year Ended
January&nbsp;29, 2005</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
GameStop management is responsible for GameStop&#146;s internal
controls and the financial reporting process. GameStop&#146;s
registered independent public accountants, BDO Seidman, report
to GameStop&#146;s
</DIV>

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<DIV align="left" style="font-size: 10pt;">
Audit Committee, and are responsible for performing an
independent audit of GameStop&#146;s consolidated financial
statements in accordance with the auditing standards generally
accepted in the United States. BDO Seidman also reports on
GameStop management&#146;s assessment of internal controls over
financial reporting based on the criteria established in
<I>Internal Control&#151;Integrated Framework</I> issued by the
Committee of Sponsoring Organizations of the Treadway
Commission. BDO Seidman has full access to the GameStop Audit
Committee and meets with the GameStop Audit Committee at each of
the GameStop Audit Committee&#146;s regularly scheduled
meetings, generally with and without management being present,
to discuss appropriate matters. BDO Seidman discussed its audit
of GameStop&#146;s financial statements and its report on
GameStop management&#146;s assessment of internal controls over
financial reporting with GameStop management and GameStop&#146;s
Audit Committee.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The GameStop Audit Committee recommended to the GameStop board
of directors that the audited consolidated financial statements
for the fiscal year ended January&nbsp;29, 2005 be included in
GameStop&#146;s Annual Report on Form&nbsp;&nbsp;10-K for such
fiscal year, based on the following:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

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    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    its review of GameStop&#146;s audited consolidated financial
    statements;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    its review of the unaudited interim financial statements
    prepared each quarter since the formation of the GameStop Audit
    Committee in September 2002;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    its review of GameStop&#146;s disclosure committee practices in
    accordance with Sections&nbsp;302 and 906 of the Sarbanes-Oxley
    Act of 2002;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    its discussions with management regarding the audited
    consolidated financial statements;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    its discussions with management regarding the critical
    accounting policies on which the financial statements are based,
    as well as its evaluation of alternative treatments;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    its receipt of management representations that GameStop&#146;s
    financial statements were prepared in accordance with generally
    accepted accounting principles;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    its discussions with outside legal counsel regarding contingent
    liabilities;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    its receipt of written disclosures and the letter from the
    independent auditors required by Independence Standards Board
    Standard No.&nbsp;1;&nbsp;and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    its discussions with the independent auditors regarding their
    independence, the audited consolidated financial statements, the
    matters required to be discussed by the Statement on Auditing
    Standards No.&nbsp;61, as amended, and other matters.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The GameStop Audit Committee also recommended to the GameStop
board of directors that the independent public accounting firm
of BDO Seidman be appointed GameStop&#146;s auditors for the
fiscal year ending January&nbsp;28, 2006.
</DIV>

<DIV style="margin-top: 24pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

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    <TD width="40%"></TD>
    <TD width="60%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <B>GameStop Audit Committee</B></TD>
</TR>

<TR>
    <TD style="font-size: 24pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Stephanie M. Shern, Chair</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Gerald R. Szczepanski</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Edward A. Volkwein</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt;">
<A name='207'></A>
</DIV>

<!-- link1 "GameStop Compliance with Section 16(a) of the Exchange Act" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>GameStop Compliance with Section&nbsp;16(a) of the Exchange
Act</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Section&nbsp;16(a) Beneficial Ownership Reporting
Compliance.</I> Section&nbsp;16(a) of the Exchange Act requires
GameStop&#146;s executive officers and directors, and persons
who own more than ten&nbsp;percent of a registered class of
GameStop&#146;s equity securities, to file initial statements of
beneficial ownership (Form&nbsp;3) and statements of changes in
beneficial ownership (Forms&nbsp;4 and 5)&nbsp;of common stock
of GameStop with
</DIV>

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<DIV align="left" style="font-size: 10pt;">
the SEC. Executive officers, directors and greater than
ten-percent stockholders are required to furnish GameStop with
copies of all such forms they file.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
To GameStop&#146;s knowledge, based solely on its review of the
copies of such forms received by it, or written representations
from certain reporting persons that no additional forms were
required, all filing requirements applicable to GameStop&#146;s
executive officers, directors and greater than ten-percent
stockholders were complied with.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='208'></A>
</DIV>

<!-- link1 "INFORMATION ABOUT HOLDCO" -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>INFORMATION ABOUT HOLDCO</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
GSC Holdings Corp. is a newly incorporated Delaware corporation
that is currently a wholly-owned subsidiary of GameStop, Inc., a
wholly-owned subsidiary of GameStop. Upon consummation of the
proposed mergers, Holdco will become the holding company of
GameStop and EB, which will continue to operate separately under
their respective brand names. After the mergers, Holdco&#146;s
headquarters will be in Grapevine, Texas.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
GameStop and EB stockholders who receive Holdco common stock in
the mergers will become Holdco stockholders and their rights as
stockholders will be governed by the amended and restated
certificate of incorporation and amended and restated bylaws of
Holdco and Delaware laws. The amended and restated certificate
of incorporation and amended and restated bylaws of Holdco are
attached as Exhibits&nbsp;3.1 and 3.2, respectively, to the
Registration Statement on Form&nbsp;S-4 of which this joint
proxy statement-prospectus is a part. For information on certain
differences between the amended and restated certificate of
incorporation and amended and restated bylaws of Holdco and
Delaware laws and the certificates of incorporation and bylaws
of GameStop and EB, see &#147;Comparison of Stockholder
Rights&#148; beginning on page&nbsp;144.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Holdco has not, to date, conducted any material activities other
than those incident to its formation and the matters
contemplated by the merger agreement, including the formation of
each of Eagle Subsidiary LLC and Cowboy Subsidiary LLC as
wholly-owned subsidiaries, and the preparation of this joint
proxy statement-prospectus and the registration statement of
which it forms a part.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='209'></A>
</DIV>

<!-- link1 "INFORMATION ABOUT EB" -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>INFORMATION ABOUT EB</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
EB is one of the leading global retailers of video game hardware
and software, PC entertainment software, pre-played video games
and related accessories and products. EB operates approximately
2,300 stores, primarily under the names EB Games and Electronics
Boutique, in Australia, Canada, Denmark, Finland, Germany,
Italy, New Zealand, Norway, Puerto Rico, Spain, Sweden,
Switzerland and the United States. EB also operates a website
under the URL address www.ebgames.com. EB&#146;s compound annual
growth rates for net sales and pre-tax net income from EB fiscal
2000 through EB fiscal 2005 were 21.2% and 16.6%, respectively.
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
EB operates in the interactive entertainment industry, which was
a $10.8&nbsp;billion business in the United States and a
$600&nbsp;million business in Canada in 2004, as reported by The
NPD Group. According to International Development Group,
industry sales in the European market grew to $8.5&nbsp;billion
during the year. The Australian market also grew in 2004 to
$528&nbsp;million according to GfK Australia. EB has a leading
market share in both the Canadian and Australian markets and
continues to gain market share in the U.S. and European markets.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
EB serves the avid gamer who demands immediate access to new
release titles and who generally purchases more video game
titles and PC entertainment software than the casual gamer. As a
result, EB&#146;s tie ratio of software units sold to hardware
units sold is consistently above the industry average. EB also
</DIV>

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<DIV align="left" style="font-size: 10pt;">
serves the casual, more value conscious gamer by offering
pre-played products at lower prices. EB believes that it
attracts both types of gamers due to its:
</DIV>

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    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
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    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    specialty store focus in strip centers and malls;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    ability to stock sought-after new releases;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    wide variety of pre-played titles;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    acceptance of trade-ins of pre-played products towards new
    purchases;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    breadth of product selection;&nbsp;and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    knowledgeable sales associates.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
EB believes that its vendors recognize the importance of its
customer base and, consequently, often grant EB
disproportionately large allocations of new release titles and
products. EB supports its stores through a highly effective and
centralized inventory management system. This system enables it
to execute its <I>&#147;first-to-market&#148;</I> new release
strategy and efficiently manage overall inventory levels in
order to maximize the sale of new products during peak periods
and avoid markdowns as titles mature.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
EB was incorporated under the laws of the State of Delaware in
March 1998 as a holding company for its operating activities.
EB&#146;s predecessor was incorporated in the Commonwealth of
Pennsylvania in 1977.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
EB maintains an informational website under the URL address
www.ebholdings.com. The reports EB files pursuant to the
Exchange Act (Form&nbsp;&nbsp;10-K, Form&nbsp;10-Q,
Form&nbsp;8-K) may be accessed free of charge through the
SEC&#146;s website following EB&#146;s filings with the SEC. You
may obtain any reports EB files with the SEC at the SEC&#146;s
Public Reference Room at 450&nbsp;Fifth Street, N.W., Washington
D.C. 20549 or by calling the SEC at 1-800-SEC-0330. The SEC also
maintains a website at www.sec.gov where you may access
EB&#146;s Exchange Act reports, proxy statements and other
information.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
For additional information on EB, see &#147;Where You Can Find
More Information&#148; on page&nbsp;162.
</DIV>


<DIV align="left" style="font-size: 10pt;">
<A name='210'></A>
</DIV>

<!-- link1 "Information about the Board of Directors and Executive Officers of EB" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Information about the Board of Directors and Executive
Officers of EB</B>
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I>Nominees for Election as Directors</I></B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The following individuals are EB nominees for director at the EB
annual meeting:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>Dean S. Adler</B>, age&nbsp;48, has served as a director of
EB since March 1998. In March 1997, Mr.&nbsp;Adler formed
Lubert/ Adler Partners, LP, a partnership investing primarily in
real estate and real estate related ventures. Prior thereto,
Mr.&nbsp;Adler was a principal of CMS Companies. Mr.&nbsp;Adler
was also an instructor at The Wharton School of the University
of Pennsylvania. Mr.&nbsp;Adler serves on the Boards of
Directors of Bed Bath&nbsp;&#38; Beyond Inc. and Developers
Diversified Realty Corporation. Mr.&nbsp;Adler is a member of
the EB Compensation Committee and the EB Nominating Committee.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>Jeffrey W. Griffiths</B>, age&nbsp;54, has served as the
President and Chief Executive Officer of EB and as a director
since June 2001. Prior thereto, he served as Senior Vice
President of Merchandising and Distribution from March 1998 to
June 2001. Mr.&nbsp;Griffiths served as Senior Vice President of
Merchandising and Distribution of The Electronics Boutique, Inc.
from March 1996 to March 1998. From March 1987 to February 1996,
Mr.&nbsp;Griffiths served as Vice President of Merchandising of
The Electronics Boutique, Inc., and from April 1984 to February
1987, he served as Merchandise Manager. Since October 2003,
Mr.&nbsp;Griffiths has been a member of the Board of Trustees of
Albright College. Mr.&nbsp;Griffiths also serves on the Board of
Directors of Philadelphia Academies.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>James J. Kim</B>, age&nbsp;69, has served as EB&#146;s
Chairman and as a director since March 1998. Mr.&nbsp;Kim
founded The Electronics Boutique, Inc., the predecessor to EB,
in 1977 and has served as its Chairman since its inception.
Mr.&nbsp;Kim also serves as the Chairman of Amkor Technology,
Inc., a semiconductor
</DIV>

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<DIV align="left" style="font-size: 10pt;">
assembly, test, packaging and technology firm. Mr.&nbsp;Kim is
the father of Susan Y. Kim, a director, and the father-in-law of
John R. Panichello, EB&#146;s Executive Vice President and Chief
Operating Officer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>Susan Y. Kim</B>, age&nbsp;42, has served as a director of EB
since March 1998. Ms.&nbsp;Kim served as a Senior District
Manager of The Electronics Boutique, Inc. from 1991 to 1992, as
The Electronics Boutique, Inc.&#146;s Personnel Manager from
1989 to 1991, as a Buyer for The Electronics Boutique, Inc. from
1986 to 1989, and as a Field Manager for The Electronics
Boutique, Inc. from 1985 to 1986. Ms.&nbsp;Kim is a member of
the Board of Directors of the Philadelphia Orchestra Association
and The Franklin Institute, and is a Trustee at The Shipley
School and the Gesu School. Ms.&nbsp;Kim is the daughter of
James J. Kim, EB&#146;s Chairman and a director, and the wife of
John R. Panichello, EB&#146;s Executive Vice President and Chief
Operating Officer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>Louis J. Siana</B>, age&nbsp;73, has served as a director of
EB since March 1998. Mr.&nbsp;Siana is a certified public
accountant and a senior partner in the accounting firm of Siana,
Carr&nbsp;&#38; O&#146;Connor LLP. Mr.&nbsp;Siana is Chairman of
the EB Audit Committee and a member of the EB Compensation
Committee and the EB Nominating Committee.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>Alfred J. Stein</B>, age&nbsp;72, has served as a director of
EB since March 2003. Mr.&nbsp;Stein served on the Board of
Directors of Applied Materials, Inc. from 1982 through 1999 and
RadioShack Corporation from 1982 through May 2003.
Mr.&nbsp;Stein served as Chairman of the Board and Chief
Executive Officer of VLSI Technology, Inc. from its inception in
1982 until it was acquired by Philips Electronics in 1999.
Mr.&nbsp;Stein currently serves as a member of the Board of
Directors of Advanced Power Technology, Inc., ESS Technology,
Inc. and Simtek Corporation. In addition, Mr.&nbsp;Stein has
served on the Board of Directors for several private companies.
Mr.&nbsp;Stein is a past Chairman of the Board for the
Semiconductor Industry Association and was on the Board of
Trustees for St.&nbsp;Mary&#146;s University of Texas.
Mr.&nbsp;Stein is a member of the EB Audit Committee.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>Stanley (Mickey) Steinberg</B>, age&nbsp;72, has served as a
director of EB since September 1998. Mr.&nbsp;Steinberg
currently serves as a business consultant. From August 1994 to
June 1998, Mr.&nbsp;Steinberg served as Chairman of Sony Retail
Entertainment. From 1989 to 1994, Mr.&nbsp;Steinberg served as
Executive Vice President and Chief Operating Officer of Walt
Disney Imagineering. Mr.&nbsp;Steinberg serves on the Board of
Directors of Reckson Associates Realty Corp. and of two
privately held companies, AMC, Inc., the owner and manager of
the AmericasMart Atlanta trade show center, and ECI Group, an
apartment developer, construction and management company.
Mr.&nbsp;Steinberg is a member of the EB Audit Committee.
</DIV>


<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I>Attendance at Meetings</I></B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The EB board of directors held five meetings during EB fiscal
2005. Mr.&nbsp;Adler attended fewer than 75% of the total number
of meetings of the EB board of directors and committees of the
EB board of directors on which he served.
</DIV>

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I>Committees of the EB Board of Directors</I></B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The EB board of directors has established three standing
committees: the EB Audit Committee, the EB Compensation
Committee and the EB Nominating Committee.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>EB Audit Committee.</I> The EB Audit Committee oversees
EB&#146;s processes of accounting and financial reporting and
provides oversight with respect to the audits and financial
statements of EB. In this role, the EB Audit Committee reviews
the professional services provided by EB&#146;s registered
independent public accountants and the independence of the
accounting firm from the management of EB. The EB Audit
Committee also reviews the scope of the audits by EB&#146;s
independent accountants, the annual financial statements of EB,
its systems of internal accounting controls and other matters
with respect to the accounting, internal auditing and financial
reporting practices and procedures as it finds appropriate or as
may be brought to its attention, and meets from time to time
with members of EB&#146;s finance and internal audit staff. The
EB Audit Committee is comprised of Messrs.&nbsp;Siana, Stein and
Steinberg, each of whom is
</DIV>

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<DIV align="left" style="font-size: 10pt;">
independent as defined by the requirements of The NASDAQ Stock
Market and the rules and regulations of the SEC. The EB board of
directors has determined that two of its three EB Audit
Committee members, Messrs.&nbsp;Siana and Stein, qualify as
&#147;audit committee financial experts&#148; under the
SEC&#146;s rules. The EB Audit Committee met eight times in EB
fiscal 2005. A copy of the report of the EB Audit Committee is
on page&nbsp;133 of this joint proxy statement-prospectus.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The EB Audit Committee has adopted an amended and restated
charter, which was approved by the EB board of directors in
April 2004. A copy of EB&#146;s Audit Committee Charter is
available on EB&#146;s website at www.ebholdings.com.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>EB Compensation Committee.</I> The EB Compensation Committee
reviews and approves the salaries, bonuses and other benefits of
EB&#146;s executive officers, administers the stock option plan
of EB and reviews and recommends compensation for the EB board
of directors and its committees. In addition, the EB
Compensation Committee advises and consults with EB&#146;s
management regarding benefit plans and the compensation policies
and practices of EB. The EB Compensation Committee is comprised
of Messrs.&nbsp;Adler and Siana, each of whom is independent as
defined by the requirements of The NASDAQ Stock Market. The EB
Compensation Committee met once during EB fiscal 2005. A copy of
the report of the EB Compensation Committee is on page&nbsp;125
of this joint proxy statement-prospectus. A copy of EB&#146;s
Compensation Committee Charter is available on EB&#146;s website
at www.ebholdings.com.
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>EB Nominating Committee.</I> The EB board of directors formed
a Nominating Committee in April 2004 and Messrs.&nbsp;Adler and
Siana were appointed to the EB Nominating Committee in February
2005. Each of Messrs.&nbsp;Adler and Siana are independent as
identified by the requirements of The NASDAQ Stock Market. The
EB Nominating Committee identifies and recommends individuals to
the EB board of directors for nomination as members of the EB
board of directors and its committees and assists EB&#146;s
board of directors in the event of a vacancy on the EB board of
directors or any committee by identifying and recommending
individuals qualified to fill the vacancy. The EB Nominating
Committee considers candidates suggested by EB&#146;s
stockholders, provided that the recommendations are made in
accordance with the procedures set forth in EB&#146;s bylaws and
described in this joint proxy statement-prospectus under
&#147;Other Matters with Respect to EB&#146;s Annual
Meeting&#148; on page&nbsp;161. EB stockholder nominations that
comply with the appropriate procedures will receive the same
consideration that the EB Nominating Committee&#146;s nominees
receive. A copy of EB&#146;s Nominating Committee Charter is
available on EB&#146;s website at www.ebholdings.com.
</DIV>


<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I>Compensation of EB Board of Directors</I></B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Non-employee directors receive a $15,000 annual retainer for
services provided to EB, which is paid in four quarterly
installments, and a fee of $1,500 for each EB board of directors
or board committee meeting attended. Non-employee directors also
receive options to purchase&nbsp;5,000&nbsp;shares of EB common
stock, which are awarded at the annual meeting of EB
stockholders for each fiscal year. For EB fiscal 2005,
Mr.&nbsp;Kim, the Chairman of the Board, received a salary of
$416,000, payable quarterly, and a bonus of $812,000. In April
2004, Mr.&nbsp;Kim also received options to
purchase&nbsp;30,000&nbsp;shares of EB common stock. Directors
who are also full-time employees of EB receive no additional
compensation for service as directors.
</DIV>

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I>Communicating with the EB Board of Directors</I></B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
You may communicate with the EB board of directors by writing a
letter to the Chairman of the Board, to the Chairman of the EB
Nominating Committee, or to the independent directors,
c/o&nbsp;Electronics Boutique Holdings Corp., 931 South Matlack
Street, West Chester, Pennsylvania 19382, attention: corporate
secretary. The general counsel or corporate secretary will
regularly forward to the addressee all relevant correspondence.
</DIV>

<P align="center" style="font-size: 10pt;">121

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<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I>Executive Officers</I></B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Set forth below is information regarding the executive officers
of EB who are not members of the EB board of directors.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>Seth P. Levy</B>, age&nbsp;47, has served as Senior Vice
President Logistics, Chief Information Officer and the President
of EB Games Online since June 2001. From March 1999 to June
2001, Mr.&nbsp;Levy served as Senior Vice President, Chief
Information Officer and the President of EB Games Online. From
February 1997 to March 1999, Mr.&nbsp;Levy served as the Vice
President and Chief Information Officer. From 1991 to February
1997, Mr.&nbsp;Levy served as the Director of System Development
for the May Merchandising and May Department Stores
International divisions of May Department Stores.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>Steven R. Morgan</B>, age&nbsp;54, has served as Senior Vice
President, President of Stores&nbsp;&#151; North America and
President of The Electronics Boutique Canada Inc. since April
2002. Prior thereto, Mr.&nbsp;Morgan served as Senior Vice
President of Stores of The Electronics Boutique, Inc. and
Canadian Operations from June 2001 to April 2002.
Mr.&nbsp;Morgan served as Senior Vice President of Stores of EB
from January 2001 to June 2001. From May 1998 to January 2001,
Mr.&nbsp;Morgan served as President and Chief Executive Officer
of Millennium Futures, Inc., a commodity trading company. From
July 1996 to May 1998, he served as Senior Vice President,
Director of Stores at Filene&#146;s Department Stores. From May
1988 to July 1996, he served as Regional Vice President at
Filene&#146;s Department Stores.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>John R. Panichello</B>, age&nbsp;44, has served as Executive
Vice President and Chief Operating Officer since April 2002.
Prior thereto, Mr.&nbsp;Panichello served as Senior Vice
President, Chief Operating Officer and President of EB GameWorld
and BC Sports Collectibles (a former division of EB) and
Secretary of EB from June 2001 to April 2002.
Mr.&nbsp;Panichello served as Senior Vice President, Chief
Financial Officer and President of EB GameWorld and the BC
Sports Collectibles division and Secretary of EB from June 2000
to June 2001. Mr.&nbsp;Panichello served as Senior Vice
President, Chief Financial Officer and President of BC Sports
Collectibles and Secretary of EB from March 1998 to June 2000.
Mr.&nbsp;Panichello served as the Senior Vice President of
Finance of The Electronics Boutique, Inc. and the President of
BC Sports Collectibles division from March 1997 to February
1998. Mr.&nbsp;Panichello served as The Electronics Boutique,
Inc.&#146;s Vice President of Finance and Treasurer from June
1994 to February 1997. Mr.&nbsp;Panichello served as a director
of Game Group from May 1995 to November 1999.
Mr.&nbsp;Panichello is a Certified Public Accountant.
Mr.&nbsp;Panichello is the husband of Susan Y. Kim and the
son-in-law of James J. Kim.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>James A. Smith</B>, age&nbsp;49, has served as Senior Vice
President, Chief Financial Officer and Secretary since June
2001. Prior thereto, Mr.&nbsp;Smith served as Senior Vice
President of Finance of EB from August 2000 to June 2001.
Mr.&nbsp;Smith served as The Electronics Boutique Inc.&#146;s
Vice President-Finance from May 1998 to August 2000. From 1996
to 1998, Mr.&nbsp;Smith served as Vice President and Controller
of The Electronics Boutique, Inc., and from 1993 to March 1996,
he served as Controller of The Electronics Boutique, Inc.
</DIV>

<P align="center" style="font-size: 10pt;">122

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<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I>Executive Compensation</I></B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The following table summarizes for EB&#146;s last three fiscal
years the compensation of EB&#146;s President and Chief
Executive Officer and the other executive officers of EB (the
Named Executive Officers).
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Summary Compensation Table</B>
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; margin-top: 6pt; ">

<TR style="font-size: 1pt;">
    <TD width="3%">&nbsp;</TD>
    <TD width="39%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Long-Term</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Compensation</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="7">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap><B>Annual Compensation</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Securities</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>EB</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Underlying</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>All Other</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD colspan="2" align="center" nowrap><B>Name and Title</B></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Fiscal Year</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Salary</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Bonus(1)</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Options (#)</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Compensation</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Jeffrey W. Griffiths</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>2005</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>531,135</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>390,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>30,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>28,808</TD>
    <TD align="left" valign="bottom" nowrap>(2)</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    President, Chief Executive Officer</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>2004</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>505,740</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>375,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>50,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>26,519</TD>
    <TD align="left" valign="bottom" nowrap>(2)</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    and Director</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>2003</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>449,125</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>337,500</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>50,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>24,019</TD>
    <TD align="left" valign="bottom" nowrap>(2)</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Seth P. Levy</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>2005</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>265,769</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>130,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>8,400</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>17,422</TD>
    <TD align="left" valign="bottom" nowrap>(2)</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Senior Vice President</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>2004</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>254,655</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>125,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>14,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>14,193</TD>
    <TD align="left" valign="bottom" nowrap>(2)</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Logistics, Chief Information Officer</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>2003</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>231,572</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>115,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>14,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>26,043</TD>
    <TD align="left" valign="bottom" nowrap>(2)</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    and President&nbsp;&#151; EB Games Online</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Steven R. Morgan</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>2005</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>305,089</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>150,800</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>8,400</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>2,000</TD>
    <TD align="left" valign="bottom" nowrap>(2)</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Senior Vice President,</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>2004</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>306,246</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>145,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>14,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>2,000</TD>
    <TD align="left" valign="bottom" nowrap>(2)</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    President of Stores&nbsp;&#151; North America</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>2003</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>270,899</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>135,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>14,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>147,555</TD>
    <TD align="left" valign="bottom" nowrap>(3)</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    and President of EB Canada Inc.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    John R. Panichello</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>2005</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>380,056</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>243,360</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>18,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>29,152</TD>
    <TD align="left" valign="bottom" nowrap>(2)</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Executive Vice President and</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>2004</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>363,110</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>234,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>30,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>24,178</TD>
    <TD align="left" valign="bottom" nowrap>(2)</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Chief Operating Officer</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>2003</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>330,739</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>214,500</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>30,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>19,736</TD>
    <TD align="left" valign="bottom" nowrap>(2)</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    James A. Smith</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>2005</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>269,380</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>130,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>8,400</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>20,524</TD>
    <TD align="left" valign="bottom" nowrap>(2)</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Senior Vice President, Chief</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>2004</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>255,670</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>125,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>14,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>17,076</TD>
    <TD align="left" valign="bottom" nowrap>(2)</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Financial Officer and Secretary</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>2003</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>231,103</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>115,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>14,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>14,014</TD>
    <TD align="left" valign="bottom" nowrap>(2)</TD>
</TR>

</TABLE>
</CENTER>

<DIV align="left" style="font-size: 3pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<DIV style="width: 18%; border-top: 1.0pt solid black; font-size: 1pt">&nbsp;</DIV>
</DIV>

<DIV style="margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>(1)&nbsp;</TD>
    <TD align="left">
    Amounts have been listed for the year earned although actually
    paid in the following fiscal year or deferred at the
    executive&#146;s election until a subsequent fiscal year.</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>(2)&nbsp;</TD>
    <TD align="left">
    Consists of EB&#146;s matching contribution pursuant to its
    executive salary deferral plan and 401(k) defined contribution
    plan.</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>(3)&nbsp;</TD>
    <TD align="left">
    Mr.&nbsp;Morgan was reimbursed for expenses related to his
    relocation to the West Chester, Pennsylvania area.</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I>EB Fiscal 2005 Stock Option Grants</I></B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The following table sets forth certain information regarding
grants of stock options made during EB fiscal 2005 to the Named
Executive Officers pursuant to EB&#146;s stock option plan.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Option Grants in Last Fiscal Year</B>
</DIV>

<DIV align="center" style="font-size: 10pt;">
<B>Individual Grants</B>
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; margin-top: 6pt; ">

<TR style="font-size: 1pt;">
    <TD width="27%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
</TR>


<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap><B>Potential Realizable Value</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>% of Total</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap><B>at Assumed Annual Rates</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Number of</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Options</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap><B>of Stock Price Appreciation</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Securities</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Granted to</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap><B>for Option Term</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Underlying</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Employees in</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Exercise</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Expiration</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD align="center" nowrap><B>Name</B></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Options Granted</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Fiscal Year</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Price</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Date</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>5%</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>10%</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Jeffrey W. Griffiths</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>30,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>11.0%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>29.20</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>4/09/14</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>550,912</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>1,396,118</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Seth P. Levy</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>8,400</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>3.1%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>29.20</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>4/09/14</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>154,255</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>390,913</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Steven R. Morgan</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>8,400</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>3.1%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>29.20</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>4/09/14</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>154,255</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>390,913</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    John R. Panichello</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>18,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>6.6%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>29.20</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>4/09/14</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>330,547</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>837,671</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    James A. Smith</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>8,400</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>3.1%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>29.20</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>4/09/14</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>154,255</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>390,913</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>
</CENTER>

<P align="center" style="font-size: 10pt;">123

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Option Exercises and Fiscal Year-End Option Values</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The following table sets forth information regarding the total
number and aggregate value of options exercised by each of the
Named Executive Officers during EB fiscal 2005 and the total
number and aggregate value of options held by each of the Named
Executive Officers at January&nbsp;28, 2005 (the last trading
day of EB fiscal 2005).
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Aggregated Option Exercises in Last Fiscal Year</B>
</DIV>

<DIV align="center" style="font-size: 10pt;">
<B>and Fiscal Year-End Option Values</B>
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; margin-top: 6pt; ">

<TR style="font-size: 1pt;">
    <TD width="24%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="11%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="11%">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Number of</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Securities Underlying</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Value of Unexercised</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Shares</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Unexercised Options at</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>In-the-Money Options at</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Acquired on</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Value</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Fiscal Year-End (#)</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Fiscal Year-End ($)</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD align="center" nowrap><B>Name</B></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Exercise (#)</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Realized ($)(1)</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Exercisable/Unexercisable</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Exercisable/Unexercisable(2)</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Jeffrey W. Griffiths</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>160,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>3,277,196</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>126,574/80,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>1,656,151/$807,300</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Seth P. Levy</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>88,810</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>2,103,087</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>24,333/22,400</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>242,105/$226,038</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Steven R. Morgan</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>74,001</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>1,604,588</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0/22,399</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>0/$226,036</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    John R. Panichello</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>160,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>4,010,072</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>123,571/48,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>1,774,054/$484,380</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    James A. Smith</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>32,143</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>713,124</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>46,500/22,400</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>631,588/$226,044</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>
</CENTER>

<DIV align="left" style="font-size: 3pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<DIV style="width: 18%; border-top: 1.0pt solid black; font-size: 1pt">&nbsp;</DIV>
</DIV>

<DIV style="margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>(1)&nbsp;</TD>
    <TD align="left">
    Values are reported before the payment of any commissions or
    taxes associated with the exercise of the options or the
    subsequent sale of the underlying common stock.</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>(2)&nbsp;</TD>
    <TD align="left">
    In-the-money options are options having a per share exercise
    price below the closing price of shares of EB common stock on
    The NASDAQ Stock Market on January&nbsp;28, 2005 (the last
    trading day of EB fiscal 2005).</TD>
</TR>

</TABLE>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Equity Compensation Plan Information</B>
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; margin-top: 6pt; ">

<TR style="font-size: 1pt;">
    <TD width="38%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Number of Securities</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Remaining Available</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>for Future Issuance</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Number of Securities</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Under Equity</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>to be Issued</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Weighted-Average</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Compensation Plans</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Upon Exercise of</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Exercise Price of</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>(Excluding Securities</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Outstanding Options,</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Outstanding Options,</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Reflected in</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Warrants and Rights</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Warrants and Rights</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Column&nbsp;(a))</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD align="left" nowrap><B>Plan Category</B></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>(a)</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>(b)</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>(c)</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <B>Equity compensation plans approved by security holders</B></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,401,115</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>22.92</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,812,875</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <B>Equity compensation plans not approved by security holders</B></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <B>Total</B></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,401,115</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>22.92</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,812,875</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

</TABLE>
</CENTER>

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I>Employment Agreements, Termination of Employment and
    Change in Control Arrangements</I></B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In November 2002, EB entered into new employment agreements with
Messrs.&nbsp;Griffiths, Panichello, Smith and Levy providing for
their employment as President and Chief Executive Officer,
Executive Vice President and Chief Operating Officer, Senior
Vice President, Chief Financial Officer and Secretary and Senior
Vice President Logistics, Chief Information Officer and
President of EB Games Online, respectively. Each of the
agreements provides for a term of three years and may be
extended automatically for an additional one-year term, unless
terminated by the parties thereto in accordance with their
terms. The current annual base salary for
Messrs.&nbsp;Griffiths, Panichello, Smith and Levy is $546,000,
$393,120, $273,000 and $273,000, respectively, and the
agreements provide for certain fringe and other employee
benefits that are made available to the senior executive
officers of EB.
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In September 2003, EB entered into a new employment agreement
with Mr.&nbsp;Morgan providing for his continued employment as
Senior Vice President, President of Stores&nbsp;&#151; North
America and President of Electronics Boutique Canada, Inc. The
agreement provides for a term ending on the same date as the
employment agreement for EB&#146;s other senior executive
officers. The employment agreement may be extended automatically
for an additional one-year term, unless terminated by either
party in accordance with its terms. The current annual base
salary for Mr.&nbsp;Morgan is $316,680 and the agreement
provides for certain fringe and other employee benefits that are
made available to the senior executive officers of EB.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The employment agreements with Messrs.&nbsp;Griffiths,
Panichello, Smith, Levy and Morgan (each an Executive) provide
that (i)&nbsp;in the event that employment is terminated for any
reason other than death, disability or &#147;cause&#148; (as
defined in their respective agreements), the Executive is
entitled to receive his then current total compensation for the
greater of his remaining term under the employment agreement or
a one year period, (ii)&nbsp;certain severance payments are
limited to an amount equal to $100 less than the maximum that
could be paid to the Executive and deducted by EB under
Section&nbsp;280G of the Code, in the event of termination of
employment for any reason other than death, disability or
&#147;cause,&#148; or if the termination is related to a
&#147;change in control&#148; (as defined in their respective
agreements) and (iii)&nbsp;in the event of disability, EB will
continue to pay 60% of the Executive&#146;s compensation for the
remaining term of his agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In connection with its approval of the merger agreement, the EB
board of directors took action to provide the Executives and
three other senior officers with severance payments in an amount
equal to their current total compensation for a period equal to
the greater of (i)&nbsp;the balance of their employment term
under their employment agreements and (ii)&nbsp;twelve months,
and to continue to provide them with their current benefits for
such period in the event that these officers elect to terminate
their employment with EB in connection with, and upon
consummation of, the mergers.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='211'></A>
</DIV>

<!-- link1 "EB Compensation Committee Report on Executive Compensation" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>EB Compensation Committee Report on Executive Compensation</B>
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I>Overview of EB&#146;s Executive Compensation Policies and
    Practices</I></B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The current members of the EB Compensation Committee are
Messrs.&nbsp;Adler and Siana. Messrs.&nbsp;Adler and Siana are
independent directors of EB. The EB Compensation Committee
reviews and approves the salaries, bonuses and other benefits of
EB&#146;s Executive Officers, administers the stock option plans
of EB and reviews and recommends compensation for the EB board
of directors and its committees. In April 2004, the EB board of
directors adopted a Compensation Committee Charter which is
available on EB&#146;s website at www.ebholdings.com.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The base compensation for the Chief Executive Officer, Jeffrey
W. Griffiths, for EB fiscal 2005 was agreed to in an employment
agreement entered into by EB and Mr.&nbsp;Griffiths in November
2002. The compensation provided for in Mr.&nbsp;Griffiths&#146;
employment agreement was based on recommendations regarding
current market data for similar positions, as well as individual
and EB&#146;s prior year and anticipated future performance. The
employment agreements for Messrs.&nbsp;Levy, Morgan, Panichello
and Smith were also entered into by EB in consultation with the
EB Compensation Committee.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The EB Compensation Committee has developed and continuously
enhances compensation policies, plans and programs that align
the financial interests of EB&#146;s senior management, in their
management capacities, with those of its stockholders. The EB
Compensation Committee believes that (i)&nbsp;executive
compensation should be meaningfully related to the performance
of EB and the value created for EB stockholders;
(ii)&nbsp;compensation programs should support both short and
long-term goals and objectives of EB; (iii)&nbsp;compensation
programs should reward individuals for outstanding contributions
to EB&#146;s success; and (iv)&nbsp;short and long-term
compensation policies play a significant role in attracting and
retaining well qualified executives. For the Chief Executive
Officer&#146;s compensation, the EB Compensation Committee
considers the recommendations of EB&#146;s Chairman. For the
compensation of EB&#146;s other executive officers, the EB
Compensation Committee considers the recommendations of
EB&#146;s Chief Executive Officer.
</DIV>

<P align="center" style="font-size: 10pt;">125

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In setting annual compensation for executive officers, the EB
Compensation Committee reviews a number of criteria relating to
the financial performance of EB generally and of each executive
officer specifically during the prior fiscal year, establishes
expectations with respect to each such individual&#146;s future
contributions to EB and considers industry and comparably-sized
company data. In making its decision on compensation levels, the
EB Compensation Committee does not use any predetermined formula
or assign any particular weight to any individual criterion.
</DIV>

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I>Industry Data</I></B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In EB fiscal 2005, EB engaged William M. Mercer, Incorporated to
prepare a competitive assessment of executive compensation at EB
and the pay/performance relationship at EB compared to an
industry peer group. Mercer analyzed proxy data to help
determine how the market internally values its top management
team and supplemented this information with survey data to
determine how the market functionally values each position.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Market competitive levels were determined for base salary, total
cash compensation (base salary plus annual incentive), total
direct compensation (total cash compensation plus long-term
incentives) and annual stock grant practices.
</DIV>

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I>Base Salary</I></B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Recommendations for base salary levels take into account what is
being paid elsewhere in the market, as described above, so that
EB can remain competitive. Increases in base salary also take
into account what has happened in the business in the prior
fiscal year as well as what is expected to happen in the
upcoming year. These factors include:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt;">

<TR>
    <TD width="28%"></TD>
    <TD width="1%"></TD>
    <TD width="71%"></TD>
</TR>

<TR>
    <TD valign="top">
    Sales</TD>
    <TD></TD>
    <TD valign="top">
    EB&#146;s prior fiscal year sales volume is an important factor
    when evaluating base salary increases. Increased sales volume
    indicates that the executives have ensured that products are in
    EB&#146;s stores at the proper time, stores are staffed with
    knowledgeable sales people, and customers are satisfied with
    EB&#146;s products and services.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    Forecasted Sales</TD>
    <TD></TD>
    <TD valign="top">
    Evaluation of industry forecasts for the retail industry, what
    new products will be introduced into the market and the overall
    economic outlook for the country are all important factors
    regarding EB&#146;s anticipated profitability and, therefore,
    compensation levels.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    Growth</TD>
    <TD></TD>
    <TD valign="top">
    EB&#146;s growth is evaluated, in both absolute terms and as
    compared to planned rates of growth, based on several
    determinants, as follows:</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    &#149;&nbsp;Number of stores</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    &#149;&nbsp;Comparable store sales</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    &#149;&nbsp;Overall sales volume</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    &#149;&nbsp;Market share</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    &#149;&nbsp;Net income</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    &#149;&nbsp;Planned vs. actual growth rates</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    Net Profit Goals</TD>
    <TD></TD>
    <TD valign="top">
    These include an evaluation of store profit and loss, expenses
    associated with the management of the stores and support from
    the home office and distribution center.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">126

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<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I>Bonus</I></B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Bonus payments are made based on EB&#146;s performance for the
prior fiscal year. Bonus amounts included in the agreements are
determined by performance and compared to external research
provided in the surveys and reports described above to ensure
competitiveness within the industry.
</DIV>

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I>Stock Based Incentive Awards</I></B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The EB Compensation Committee believes that it is important for
executives, as well as other employees, to have a vested
interest in EB, through the granting of stock options which
generally vest over a three-year period, thereby more closely
aligning the long-term interest of executives with that of
EB&#146;s stockholders. The EB Compensation Committee believes
that granting stock options provides incentive to executives by
giving them a strong economic interest in maximizing stock price
appreciation and enhancing their performance in attaining the
long-term objectives of EB. In EB fiscal 2004, in anticipation
of possible changes in the accounting for stock option grants,
the EB Compensation Committee began discussing and implementing
a policy pursuant to which it would grant fewer options to
EB&#146;s employees, including its executive officers.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The EB Compensation Committee made grants under EB&#146;s 2000
Equity Participation Plan and granted stock options to purchase
an aggregate of 73,200&nbsp;shares of common stock to the Named
Executive Officers during EB fiscal 2005. Mr.&nbsp;Griffiths
also authorized grants of stock options to new employees with
the approval of the EB Compensation Committee. All stock options
granted during EB fiscal 2005 by EB had exercise prices equal to
the fair market value of the common stock on the date of grant.
All full-time employees of EB at the manager level and above are
eligible to receive grants of stock options under EB&#146;s 2000
Equity Participation Plan.
</DIV>

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I>CEO Compensation</I></B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
As Chief Executive Officer, Mr.&nbsp;Griffiths receives an
annual salary of $546,000 in accordance with the terms of his
employment agreement. Prior to March 2005, Mr.&nbsp;Griffiths
received $520,000 in annual base salary. Under his employment
agreement, Mr.&nbsp;Griffiths earned a bonus of $390,000 in EB
fiscal 2005, which was paid in April 2005. In determining
Mr.&nbsp;Griffiths&#146; bonus, the EB Compensation Committee
considered EB&#146;s performance in a number of key areas,
including the following:
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; margin-top: 6pt; ">

<TR style="font-size: 1pt;">
    <TD width="82%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Percentage</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Change</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>from EB</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD align="left" nowrap><B>Performance Indicator</B></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Fiscal 2004</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Net sales</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>+24.9%</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Number of stores</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>+29.4%</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Comparable store sales</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>+3.1%</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Net income</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>+14.3%</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>
</CENTER>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The EB Compensation Committee believes Mr.&nbsp;Griffith&#146;s
current compensation is fully consistent with EB&#146;s
philosophy on executive compensation and appropriate in view of
EB&#146;s performance in EB fiscal 2005.
</DIV>

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I>Tax Deductibility; Other</I></B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;162(m) of the Internal Revenue Code imposes a
$1&nbsp;million limit on the allowable tax deduction of
compensation paid by a publicly-held corporation to its chief
executive officer and its other four most highly compensated
officers employed at year-end, subject to a qualified
performance-based compensation exception. The EB Compensation
Committee intends to take Section&nbsp;162(m) into account when
formulating its compensation policies for EB&#146;s executive
officers and to comply with the qualified performance-based
compensation exception of Section&nbsp;162(m) where the EB
Compensation Committee determines compliance to be practicable
and in the best interests of EB and its stockholders.
</DIV>

<P align="center" style="font-size: 10pt;">127

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The EB Compensation Committee Report on Executive Compensation
shall not be deemed incorporated by reference by any general
statement incorporating by reference this joint proxy
statement-prospectus into any filing under the Securities Act or
the Exchange Act and shall not otherwise be deemed filed under
the Securities Act or the Exchange Act.
</DIV>

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I>Conclusion</I></B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The EB Compensation Committee intends to continue to operate
under, and to adjust where necessary, these performance-driven
compensation policies and practices to assure that they are
consistent with the goals and objectives of EB, and with the
primary mission of the EB board of directors of increasing
long-term stockholder value.
</DIV>

<DIV style="margin-top: 24pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="60%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Respectfully submitted,</TD>
</TR>

<TR>
    <TD style="font-size: 24pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Dean S. Adler</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Louis J. Siana</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt;">
<A name='212'></A>
</DIV>

<!-- link1 "EB Compensation Committee Interlocks and Insider Participation" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>EB Compensation Committee Interlocks and Insider
Participation</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The members of the EB Compensation Committee during EB fiscal
2005 were Dean S. Adler and Louis J. Siana. None of EB&#146;s
Named Executive Officers serves as a member of the board of
directors or compensation committee of any entity that has one
or more executive officers serving as a member of EB&#146;s
board of directors or Compensation Committee.
</DIV>

<P align="center" style="font-size: 10pt;">128

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV align="left" style="font-size: 10pt;">
<A name='213'></A>
</DIV>

<!-- link1 "EB Comparison of Total Stockholder Return" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>EB Comparison of Total Stockholder Return</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The following graph compares the cumulative total stockholder
return on EB common stock with the S&#38;P 500 Index and the
S&#38;P 500 Specialty Retail Index for the period from
January&nbsp;29, 2000 through January&nbsp;28, 2005 (the last
trading day of EB fiscal 2005), assuming an initial investment
of $100 and the reinvestment of all dividends.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>COMPARISON OF CUMULATIVE FIVE YEAR TOTAL RETURN</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<IMG src="y09199ey0919906.gif" alt="(PERFORMANCE GRAPH)">
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Total Return to Stockholders</B>
</DIV>

<DIV align="center" style="font-size: 10pt;">
<B>(Includes reinvestment of dividends)</B>
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; margin-top: 12pt; ">

<TR style="font-size: 1pt;">
    <TD width="15%">&nbsp;</TD><!-- Left VRule -->
    <TD width="2%">&nbsp;</TD><!-- Right VRule -->
    <TD width="2%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD><!-- Right VRule -->
    <TD width="2%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD><!-- Right VRule -->
    <TD width="2%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD><!-- Right VRule -->
    <TD width="2%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD><!-- Right VRule -->
    <TD width="2%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD><!-- Right VRule -->
    <TD width="2%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD><!-- Right VRule -->
</TR>


<TR valign="bottom" style="font-size: 1px">
    <TD align="center" nowrap style="border-top: 1pt solid #000000;border-left:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>
</TR>


<TR style="font-size: 8pt;">
    <TD style="border-left:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="13" align="center" nowrap><B>INDEXED RETURNS</B></TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD style="border-left:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap><B>Base Period</B></TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="13" align="center" nowrap><B>Fiscal Years Ended</B></TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
</TR>


<TR valign="bottom" style="font-size: 1px">
    <TD style="border-left:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD style="border-left:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap><B>Jan.&nbsp;29, 2000</B></TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap><B>Feb.&nbsp;3, 2001</B></TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap><B>Feb.&nbsp;2, 2002</B></TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap><B>Feb.&nbsp;1, 2003</B></TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap><B>Jan.&nbsp;31, 2004</B></TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap><B>Jan.&nbsp;29, 2005</B></TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
</TR>


<TR valign="bottom" style="font-size: 1px">
    <TD align="center" nowrap style="border-top: 1pt solid #000000;border-left:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top" style="border-left:1.5pt solid #000000;">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;ELECTRONICS BOUTIQUE HOLDINGS CORP.&nbsp;</DIV>
    </TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">
    100</TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">
    115.65</TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">
    226.38</TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">
    84.27</TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">
    153.95</TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">
    210.14</TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD align="left" style="border-top: 1pt solid #000000;border-left:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>

</TR>

<TR>
    <TD align="left" valign="top" style="border-left:1.5pt solid #000000;">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;S&#38;P 500 INDEX</DIV>
    </TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">
    100</TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">
    &nbsp;97.37</TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">
    &nbsp;82.07</TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">
    63.97</TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">
    &nbsp;86.08</TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">
    &nbsp;90.68</TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD align="left" style="border-top: 1pt solid #000000;border-left:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;border-right:1.5pt solid #000000;">&nbsp;</TD>

</TR>

<TR>
    <TD align="left" valign="top" style="border-left:1.5pt solid #000000;">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;S&#38;P 500 SPECIALTY RETAIL INDEX</DIV>
    </TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">
    100</TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">
    &nbsp;91.10</TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">
    &nbsp;99.20</TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">
    61.47</TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">
    &nbsp;94.36</TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">
    105.55</TD>
    <TD style="border-right:1.5pt solid #000000;">&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD style="border-top: 1pt solid #000000;">&nbsp;</TD>

</TR>

</TABLE>
</CENTER>

<P align="center" style="font-size: 10pt;">129
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV align="left" style="font-size: 10pt;">
<A name='214'></A>
</DIV>

<!-- link1 "EB Security Ownership of Certain Beneficial Owners and Management" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>EB Security Ownership of Certain Beneficial Owners and
Management</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The table below sets forth, as of August&nbsp;23, 2005, certain
information regarding the beneficial ownership of common stock
by each stockholder known to EB to be the beneficial owner of
more than 5% of the common stock, each of EB&#146;s directors
and Named Executive Officers, and all directors and executive
officers as a group.
</DIV>


<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; margin-top: 6pt; ">

<TR style="font-size: 1pt;">
    <TD width="3%">&nbsp;</TD>
    <TD width="67%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
</TR>


<TR style="font-size: 8pt;">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap><B>Shares Beneficially</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap><B>Owned(3)</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD colspan="2" align="left" nowrap><B>Name and Address of Beneficial Owner(1)(2)</B></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Number</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Percentage</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    EB Nevada Inc.(4)</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>11,569,100</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>45.6</TD>
    <TD align="left" valign="bottom" nowrap>%</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    2215-B Renaissance Drive, Suite&nbsp;5<BR>
    Las Vegas, Nevada 89119</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Wellington Management Company, LLP(5)</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>2,466,986</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>9.7</TD>
    <TD align="left" valign="bottom" nowrap>%</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    75 State Street<BR>
    Boston, Massachusetts 02109</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    James J. and Agnes C. Kim(4)(6)</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>11,829,995</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>46.1</TD>
    <TD align="left" valign="bottom" nowrap>%</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Dean S. Adler</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>5,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>*</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Susan Y. Kim(4)(6)</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>11,584,114</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>45.6</TD>
    <TD align="left" valign="bottom" nowrap>%</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Louis J. Siana</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>5,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>*</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Alfred J. Stein</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>3,334</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>*</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Stanley Steinberg</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>5,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>*</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Jeffrey W. Griffiths</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>*</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Seth P. Levy</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>*</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Steven R. Morgan</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>*</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    John R. Panichello(4)(6)</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>11,584,114</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>45.6</TD>
    <TD align="left" valign="bottom" nowrap>%</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    James A. Smith</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>*</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    All directors and executive officers as a group (11 persons)(7)</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>294,423</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1.1</TD>
    <TD align="left" valign="bottom" nowrap>%</TD>
</TR>

</TABLE>
</CENTER>

<DIV align="left" style="font-size: 3pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<DIV style="width: 18%; border-top: 1.0pt solid black; font-size: 1pt">&nbsp;</DIV>
</DIV>

<DIV style="margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>*</TD>
    <TD align="left">
    Less than 1.0%</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>(1)&nbsp;</TD>
    <TD align="left">
    Unless otherwise noted, EB believes that all persons named in
    the above table have sole voting and investment power with
    respect to the shares beneficially owned by them.</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>(2)&nbsp;</TD>
    <TD align="left">
    Unless otherwise noted, the address for all beneficial owners is
    931 South Matlack Street, West Chester, Pennsylvania 19382.</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>


<TR valign="top">
    <TD>(3)&nbsp;</TD>
    <TD align="left">
    As of August&nbsp;23, 2005, there were 25,383,344 shares of EB
    common stock issued and outstanding. For purposes of this table,
    a person is deemed to be the &#147;beneficial owner&#148; of any
    shares that such person has the right to acquire within
    60&nbsp;days, including upon the exercise of stock options. For
    purposes of computing the percentage of outstanding shares held
    by each person named above on a given date, any security that
    such person has the right to acquire within 60&nbsp;days is
    deemed to be outstanding, but is not deemed to be outstanding
    for the purpose of computing the percentage ownership of any
    other person.</TD>
</TR>


<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>(4)&nbsp;</TD>
    <TD align="left">
    EB Nevada Inc. is a wholly-owned subsidiary of The Electronics
    Boutique, Inc., all of the outstanding capital stock of which is
    owned by James J. Kim, Agnes C. Kim, the David D. Kim Trust of
    December&nbsp;31, 1987, the John T. Kim Trust of
    December&nbsp;31, 1987 and the Susan Y. Kim Trust of
    December&nbsp;31, 1987. David D. Kim is the trustee of the David
    D. Kim Trust, Susan Y. Kim is the trustee of the Susan Y. Kim
    Trust, and John T. Kim is the trustee of the John T. Kim Trust
    (the trustees of each trust may be deemed to be the beneficial
    owners of the shares held by such trust). In addition, the trust
    agreement for each of these trusts encourages the trustees of
    the trusts to vote the shares of common stock held by them, in
    their discretion, in concert with James J. Kim&#146;s family.
    Accordingly, the trusts, together with their respective trustee
    and James J. and Agnes C. Kim, may</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">130

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD align="left">
    be considered a &#147;group&#148; under Section&nbsp;13(d) of
    the Exchange Act. This group may be deemed to have beneficial
    ownership of the shares owned by EB Nevada Inc.</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>(5)&nbsp;</TD>
    <TD align="left">
    Based on a Schedule&nbsp;13G filed with the SEC by Wellington
    Management Company, LLP (&#147;Wellington&#148;) on
    February&nbsp;10, 2005, Wellington (i) shares voting power with
    respect to 1,927,108 of the reported shares with certain of its
    clients and (ii) shares dispositive power with respect to all of
    the reported shares with certain of its clients.</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>(6)&nbsp;</TD>
    <TD align="left">
    James J. Kim and Agnes C. Kim are the parents of Susan Y. Kim.
    John R. Panichello and Susan Y. Kim are husband and wife.</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>(7)&nbsp;</TD>
    <TD align="left">
    Excludes 11,569,100&nbsp;shares owned by EB Nevada Inc. that may
    be deemed to be beneficially owned by James J. Kim, Susan Y. Kim
    and John R. Panichello.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt;">
<A name='215'></A>
</DIV>

<!-- link1 "EB -- Certain Relationships and Related Transactions" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>EB&nbsp;&#151; Certain Relationships and Related
Transactions</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
On January&nbsp;30, 2004, EB terminated the services agreement
with Game Group initially established in EB fiscal 1996. Under
the services agreement, Game Group was responsible for the
payment of management fees equal to 1.0% of Game Group&#146;s
adjusted sales, plus a bonus calculated on the basis of net
income in excess of a pre-established target set by Game Group.
EB had no management fee receivables as of January&nbsp;29,
2005. EB&#146;s management fee receivable at January&nbsp;31,
2004 was $2.7&nbsp;million and was included in Accounts
receivable-Trade and vendors on EB&#146;s consolidated balance
sheet. In EB fiscal 2005, EB performed no management services
for Game Group. Management fees received from Game Group under
the services agreement for EB fiscal 2004 and EB fiscal 2003
were $8.6&nbsp;million and $7.4&nbsp;million, respectively. As
part of the agreement to terminate the services agreement, Game
Group paid EB $15.0&nbsp;million. EB received this payment in
February 2004. EB recognized $4.7&nbsp;million of this payment
as revenue earned on its consolidated statements of income for
EB fiscal 2004. The termination agreement places restrictions on
EB&#146;s ability to compete with Game Group in the United
Kingdom and Ireland until February 2006. Certain other covenants
not to compete specified in the termination agreement expired as
of January&nbsp;31, 2005. Based on an independent analysis
performed in EB fiscal 2005, these covenants not to compete were
determined to have a value of $10.3&nbsp;million, which was
recorded as deferred revenue as of January&nbsp;31, 2004. In EB
fiscal 2005, EB amortized $5.8&nbsp;million of this deferred
revenue into income and the remaining $4.5&nbsp;million will be
recognized as income in EB fiscal 2006. Game Group was
prohibited from entering the Italian and German markets until
February 2005.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
On November&nbsp;2, 2002, EB sold its BC Sports Collectibles
business to Sports Collectibles Acquisition Corp.
(SCAC)&nbsp;for $2.2&nbsp;million in cash and the assumption of
lease related liabilities in excess of $13&nbsp;million. The
purchaser, SCAC, is owned by the family of James J. Kim,
EB&#146;s Chairman. The transaction included the sale of all
assets of the business including inventory, intellectual
property and furniture, fixtures and equipment, and transitional
services which were provided by EB to SCAC for a six-month
period after the closing for an additional $300,000. $150,000 of
the fee received for transition services was earned and
recognized as income in EB fiscal 2003 and the remaining
$150,000 in EB fiscal 2004. The transaction was negotiated and
approved by a committee of EB&#146;s board of directors
comprised solely of independent directors with the assistance of
an investment banking firm engaged to solicit offers for the BC
Sports Collectibles business.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
EB has agreed to pay the legal fees and expenses of its Chairman
of the Board, James J. Kim, in connection with the transactions
contemplated under the merger agreement, including
Mr.&nbsp;Kim&#146;s legal fees and expenses incurred in
connection with the preparation and filing of
Mr.&nbsp;Kim&#146;s notification and report forms under the HSR
Act (including the filing fee) and in connection with the
negotiation of the Kim Group voting agreement, the
non-competition agreement and the registration rights agreement.
EB estimates that the legal fees and expenses in connection with
the preparation and filing of Mr.&nbsp;Kim&#146;s notification
and report forms under the HSR Act and in connection with the
negotiation of the Kim Group voting agreement, the
non-competition agreement and the registration rights agreement
will be approximately $200,000.
</DIV>

<P align="center" style="font-size: 10pt;">131

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV align="left" style="font-size: 10pt;">
<A name='216'></A>
</DIV>

<!-- link1 "EB Section 16(a) Beneficial Ownership Reporting Compliance" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>EB Section&nbsp;16(a) Beneficial Ownership Reporting
Compliance</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Section&nbsp;16(a) of the Exchange Act requires EB&#146;s
directors and executive officers, and certain persons who own
more than 10% of the outstanding common stock, to file with the
SEC and The NASDAQ Stock Market initial reports of ownership and
reports of changes in ownership of common stock
(Section&nbsp;16(a) Reports). Additionally, executive officers,
directors and greater than 10% stockholders are required by SEC
regulations to furnish EB with copies of all Section&nbsp;16(a)
Reports they file. On April&nbsp;13, 2004, Louis J. Siana, a
member of the EB board of directors, filed a Section&nbsp;16(a)
Report with respect to purchases of 20,000&nbsp;shares of common
stock in December 2003. Except as set forth above, to EB&#146;s
knowledge, all directors, executive officers and beneficial
owners of more than 10% of the common stock outstanding complied
with all applicable filing requirements under Section&nbsp;16(a)
of the Exchange Act with respect to their beneficial ownership
of common stock during EB fiscal 2005.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='217'></A>
</DIV>

<!-- link1 "EB Registered Independent Public Accounting Firm" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>EB Registered Independent Public Accounting Firm</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The EB board of directors, upon the recommendation of the EB
Audit Committee, has appointed the firm of KPMG LLP, registered
independent public accountants, to audit the books, records and
accounts of EB and its subsidiaries for the fiscal year ending
January&nbsp;28, 2006, subject to ratification of this
appointment by EB&#146;s stockholders. KPMG LLP has served as
independent accountants for EB and The Electronics Boutique,
Inc. since EB fiscal 1995, and are considered well qualified.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='218'></A>
</DIV>

<!-- link1 "EB Audit Fees" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>EB Audit Fees</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
During EB fiscal 2005 and EB fiscal 2004, KPMG LLP&#146;s
services rendered to EB primarily consisted of auditing
EB&#146;s consolidated financial statements, EB&#146;s
management&#146;s assessment that EB maintained effective
internal control over financial reporting as of EB&#146;s fiscal
year end and the effectiveness of EB&#146;s internal control
over financial reporting, as well as performing quarterly
reviews of the nature described in Statement on Auditing
Standards No.&nbsp;100 (Interim Financial Information).
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; margin-top: 6pt; ">

<TR style="font-size: 1pt;">
    <TD width="68%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Fiscal 2005</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Fiscal 2004</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Audit fees</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>1,133,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>430,000</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Audit related fees(1)</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>124,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>55,000</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Audit and audit related fees</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,257,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>485,000</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Tax fees(2)</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>400,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>380,000</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    All other fees</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Total fees</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>1,657,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>865,000</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

</TABLE>
</CENTER>

<DIV align="left" style="font-size: 3pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<DIV style="width: 18%; border-top: 1.0pt solid black; font-size: 1pt">&nbsp;</DIV>
</DIV>

<DIV style="margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>(1)&nbsp;</TD>
    <TD align="left">
    Audit related fees consist primarily of employee benefit plan
    audits and assistance with foreign statutory financial
    statements, financial accounting and reporting standards and
    consultations relating to internal controls.</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>(2)&nbsp;</TD>
    <TD align="left">
    Tax fees consist of tax compliance services and other
    consultations on miscellaneous tax matters.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
All audit related services, tax services and other services were
pre-approved by the EB Audit Committee, which concluded that the
provision of such services by KPMG LLP was compatible with the
maintenance of that firm&#146;s independence in the conduct of
its auditing functions. The EB Audit Committee&#146;s policy
provides for pre-approval of audit, audit-related and tax
services specifically prescribed by the EB Audit Committee on an
annual basis and, in addition, individual engagements
anticipated to exceed pre-established thresholds must be
separately approved. The policy authorizes the EB Audit
Committee to delegate to one or more of its members pre-approval
authority with respect to permitted services. Any decision must
be reported to the full EB Audit Committee at its next scheduled
meeting.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The EB Audit Committee has determined that the rendering of
services other than audit services by KPMG LLP is compatible
with maintaining KPMG LLP&#146;s independence.
</DIV>

<P align="center" style="font-size: 10pt;">132

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<DIV align="left" style="font-size: 10pt;">
<A name='219'></A>
</DIV>

<!-- link1 "EB Audit Committee Report" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>EB Audit Committee Report</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Notwithstanding anything to the contrary set forth in EB&#146;s
filings under the Securities Act of 1933 or the Exchange Act
that might incorporate other filings with the Securities and
Exchange Commission, including this joint proxy
statement-prospectus, in whole or in part, the following report
shall not be deemed incorporated by reference into any
Securities Act or Exchange Act filings.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The EB Audit Committee has reviewed and discussed EB&#146;s
audited financial statements and management&#146;s assessment of
internal controls over financial reporting with both management
and KPMG LLP, EB&#146;s registered independent public
accountants. The EB Audit Committee has met with and discussed
with representatives of KPMG LLP various matters including those
required to be discussed by Statement on Auditing Standards
No.&nbsp;61 (Communication with Audit Committees). The EB Audit
Committee has received the written disclosures and the letter
from the independent auditors required by Independence Standards
Board Standard No.&nbsp;1 (Independence Discussions with Audit
Committees) and has discussed them with KPMG LLP.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Based on the reviews and discussions referred to above, the EB
Audit Committee recommended to the EB board of directors that
the financial statements and management&#146;s assessment of
internal controls over financial reporting referred to above be
included in EB&#146;s Annual Report on Form&nbsp;10-K.
</DIV>

<DIV style="margin-top: 24pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="60%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Respectfully submitted,</TD>
</TR>

<TR>
    <TD style="font-size: 24pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Louis J. Siana, Chairman</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Alfred J. Stein</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Stanley Steinberg</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">133

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<DIV align="left" style="font-size: 10pt;">
<A name='220'></A>
</DIV>

<!-- link1 "GSC HOLDINGS CORP. UNAUDITED PRO FORMA CONDENSED CONSOLIDATED FINANCIAL DATA" -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>GSC HOLDINGS CORP.</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>UNAUDITED PRO FORMA CONDENSED CONSOLIDATED FINANCIAL DATA</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The following unaudited pro forma condensed consolidated balance
sheet as of April&nbsp;30, 2005 gives effect to the mergers as
if they occurred on that date. The following unaudited pro forma
condensed consolidated statements of operations for the fiscal
quarter ended April&nbsp;30, 2005 and the year ended
January&nbsp;29, 2005 give effect to the mergers as if they
occurred on February&nbsp;1, 2004. GameStop&#146;s and EB&#146;s
fiscal year is composed of 52 or 53&nbsp;weeks ending on the
Saturday closest to January 31. Reclassifications have been made
to the historical financial statements of GameStop and EB to
conform to the presentation expected to be used by Holdco.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In the proposed mergers, EB common stockholders will have the
right to receive $38.15 in cash and .78795 of a share of Holdco
Class&nbsp;A common stock for each share of EB common stock that
they own. In addition, GameStop stockholders will receive one
share of Holdco Class&nbsp;A common stock for each share of
GameStop Class&nbsp;A common stock that they own and one share
of Holdco Class&nbsp;B common stock for each share of GameStop
Class&nbsp;B common stock that they own.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The mergers and related transactions will be treated as a
purchase business combination for accounting purposes, and
EB&#146;s assets acquired and liabilities assumed will be
recorded at their fair value. We have assumed that the GameStop
Class&nbsp;A common stock price is $21.61&nbsp;per share (based
on the closing price for GameStop Class&nbsp;A common stock on
April 15, 2005) and that 24.783&nbsp;million shares of EB common
stock are outstanding at the date of completion of the mergers.
Approximately 21.4&nbsp;million and 29.9&nbsp;million shares of
Holdco Class&nbsp;A common stock and Holdco Class&nbsp;B common
stock, respectively, will be issued in exchange for all
outstanding common stock of GameStop, based on the one-for-one
exchange ratio. We have assumed that an aggregate
19.5&nbsp;million shares of Holdco Class&nbsp;A common stock
will be issued and $945.5&nbsp;million in cash will be paid in
consideration for all outstanding common stock of EB. In
addition, $40.6&nbsp;million in cash is assumed to be paid in
exchange for all of the outstanding stock options of EB.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The allocations of the purchase price to EB&#146;s assets,
including intangible assets, and liabilities are only
preliminary allocations based on estimates of fair values and
will change when actual fair values are determined. Among the
provisions of Statement of Financial Accounting Standards
No.&nbsp;141, &#147;Business Combinations,&#148; criteria have
been established for determining whether intangible assets
should be recognized separately from goodwill. Statement of
Financial Accounting Standards No.&nbsp;142, &#147;Goodwill and
Other Intangible Assets&#148; provides, among other guidelines,
that goodwill and intangible assets with indefinite lives will
not be amortized, but rather are tested for impairment on at
least an annual basis.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Management of both GameStop and EB expect that the benefits of
the business combination will generate approximately
$30&nbsp;million of cost savings and operating synergies by the
end of the fiscal year ending February&nbsp;3, 2007 and $50
million annually thereafter by capitalizing on consolidation and
integration of certain functions as well as through the adoption
of the best practices of both GameStop and EB. Holdco has not
made any integration decisions and, accordingly, the amounts of
merger-related integration costs have not been determined. The
accompanying unaudited pro forma condensed statements of
operations do not include any cost saving synergies which may be
achievable subsequent to the closing of the mergers or the
impact of non-recurring expenses and costs which are directly
related to the mergers or business combination.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The unaudited pro forma financial information shown under this
heading is presented for informational purposes only, is not
necessarily indicative of the financial position or results of
operations that would actually have occurred had the mergers or
the related transactions been consummated as of the dates or at
the beginning of the periods presented, nor is it necessarily
indicative of future operating results or financial position of
Holdco. The unaudited pro forma financial information under this
heading and the accompanying notes should be read together with
the historical financial statements and related notes contained
in the annual reports and other information that GameStop and EB
have each filed with the SEC and incorporated by reference in
this joint proxy statement-prospectus.
</DIV>

<P align="center" style="font-size: 10pt;">134

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<DIV align="left" style="font-size: 10pt;">
<A name='221'></A>
</DIV>

<!-- link1 "GSC HOLDINGS CORP. UNAUDITED PRO FORMA CONDENSED CONSOLIDATED BALANCE SHEET" -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>GSC HOLDINGS CORP.</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>UNAUDITED PRO FORMA CONDENSED CONSOLIDATED BALANCE SHEET</B>
</DIV>


<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 8pt; margin-top: 8pt; ">

<TR style="font-size: 1pt;">
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="46%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
</TR>

<TR style="font-size: 7pt;">
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Historical</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Historical</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>GSC</B></TD><TD></TD>
</TR>

<TR style="font-size: 7pt;">
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>GameStop</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>EB</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Holdings</B></TD><TD></TD>
</TR>

<TR style="font-size: 7pt;">
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>April&nbsp;30,</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>April&nbsp;30,</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Pro Forma</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Corp. Pro</B></TD><TD></TD>
</TR>

<TR style="font-size: 7pt;">
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>2005</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>2005</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Adjustments</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Forma</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>


<TR style="font-size: 7pt;">
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="14" align="center" nowrap><B>(In thousands)</B></TD><TD></TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="19" align="center" valign="top">
    <B>ASSETS:</B></TD>
</TR>

<TR>
    <TD colspan="3" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Current assets:</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Cash and cash equivalents</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>149,414</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>92,752</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>950,000</TD>
    <TD align="left" valign="bottom" nowrap>(b)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>148,109</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="3"><FONT style="font-size: 8pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(1,014,057</TD>
    <TD align="left" valign="bottom" nowrap>)(c)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="3"><FONT style="font-size: 8pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(23,000</TD>
    <TD align="left" valign="bottom" nowrap>)(e)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="3"><FONT style="font-size: 8pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(7,000</TD>
    <TD align="left" valign="bottom" nowrap>)(f)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Marketable securities</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>45,225</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>45,225</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Receivables, net</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>10,136</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>17,856</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>27,992</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Merchandise inventories</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>255,122</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>329,650</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>584,772</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Prepaid expenses and other current assets</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>18,195</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>18,849</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>37,044</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Prepaid taxes</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,865</TD>
    <TD align="left" valign="bottom" nowrap>(a)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>4,525</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD colspan="2"><FONT style="font-size: 8pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>2,660</TD>
    <TD align="left" valign="bottom" nowrap>(f)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Deferred taxes</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>5,435</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>9,795</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>15,230</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Total current assets</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>438,302</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>514,127</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(89,532</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>862,897</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="3" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Property and equipment:</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Land</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>2,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>8,145</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>4,810</TD>
    <TD align="left" valign="bottom" nowrap>(d)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>14,955</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Building and leasehold improvements</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>114,794</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>155,760</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(17,860</TD>
    <TD align="left" valign="bottom" nowrap>)(d)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>252,694</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Fixtures and equipment</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>197,887</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>160,955</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(59,206</TD>
    <TD align="left" valign="bottom" nowrap>)(d)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>299,636</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Construction in progress</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>2,429</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(1,147</TD>
    <TD align="left" valign="bottom" nowrap>)(d)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,282</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR>
    <TD colspan="3"><FONT style="font-size: 8pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>314,681</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>327,289</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(73,403</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>568,567</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Less accumulated depreciation and amortization</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>133,983</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>153,885</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(153,885</TD>
    <TD align="left" valign="bottom" nowrap>)(d)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>133,983</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Net property and equipment</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>180,698</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>173,404</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>80,482</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>434,584</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="3" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Investment</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,436,057</TD>
    <TD align="left" valign="bottom" nowrap>(c)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="3"><FONT style="font-size: 8pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(1,436,057</TD>
    <TD align="left" valign="bottom" nowrap>)(d)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="3" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Goodwill</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>320,888</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>16,187</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(16,187</TD>
    <TD align="left" valign="bottom" nowrap>)(d)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,316,621</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="3"><FONT style="font-size: 8pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,083,848</TD>
    <TD align="left" valign="bottom" nowrap>(d)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="3"><FONT style="font-size: 8pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(88,115</TD>
    <TD align="left" valign="bottom" nowrap>)(d)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="3" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Other intangible assets</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>7,633</TD>
    <TD align="left" valign="bottom" nowrap>(d)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>7,633</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="3" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Deferred tax asset</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>12,474</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>12,474</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="3" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Deferred financing fees</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>23,000</TD>
    <TD align="left" valign="bottom" nowrap>(e)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>23,000</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="3" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Other noncurrent assets</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>2,268</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>6,876</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>13,203</TD>
    <TD align="left" valign="bottom" nowrap>(d)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>22,347</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Total other assets</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>323,156</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>35,537</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,023,382</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,382,075</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Total assets</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>942,156</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>723,068</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>1,014,332</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>2,679,556</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR>
    <TD colspan="19">&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="19" align="center" valign="top">
    <B>LIABILITIES AND STOCKHOLDERS&#146; EQUITY:</B></TD>
</TR>

<TR>
    <TD colspan="3" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Current liabilities:</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Accounts payable</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>211,686</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>236,098</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>447,784</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Accrued liabilities</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>95,368</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>94,150</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>14,400</TD>
    <TD align="left" valign="bottom" nowrap>(a)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>203,918</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Note payable, current portion</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>12,173</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>12,173</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Accrued income taxes payable</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,497</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>2,110</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(3,607</TD>
    <TD align="left" valign="bottom" nowrap>)(a)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Total current liabilities</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>320,724</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>332,358</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>10,793</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>663,875</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR>
    <TD colspan="3" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Deferred taxes</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>20,197</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>20,197</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="3" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Notes payable, long-term portion</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>24,347</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>950,000</TD>
    <TD align="left" valign="bottom" nowrap>(b)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>974,347</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="3" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Deferred rent and other long-term liabilities</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>14,451</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>33,277</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(6,688</TD>
    <TD align="left" valign="bottom" nowrap>)(d)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>41,040</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Total long-term liabilities</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>58,995</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>33,277</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>943,312</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,035,584</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Total liabilities</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>379,719</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>365,635</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>954,105</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,699,459</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="3" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Stockholders&#146; equity (deficit):</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Preferred stock&nbsp;&#151; authorized 5,000&nbsp;shares; no
    shares issued or outstanding</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Class&nbsp;A common stock&nbsp;&#151; $.001&nbsp;par value;
    authorized</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(3</TD>
    <TD align="left" valign="bottom" nowrap>)(c)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    300,000&nbsp;shares; 21,432&nbsp;shares issued and outstanding</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>25</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>276</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(276</TD>
    <TD align="left" valign="bottom" nowrap>)(d)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>42</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Class&nbsp;B common stock&nbsp;&#151; $.001&nbsp;par value;
    authorized</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>20</TD>
    <TD align="left" valign="bottom" nowrap>(c)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    100,000&nbsp;shares; 29,902&nbsp;shares issued and outstanding</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>30</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>30</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Additional paid-in-capital</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>509,969</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>210,638</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>421,980</TD>
    <TD align="left" valign="bottom" nowrap>(c)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>881,952</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="3"><FONT style="font-size: 8pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(49,997</TD>
    <TD align="left" valign="bottom" nowrap>)(c)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="3"><FONT style="font-size: 8pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(210,638</TD>
    <TD align="left" valign="bottom" nowrap>)(d)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Accumulated other comprehensive income</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>466</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>6,031</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(6,031</TD>
    <TD align="left" valign="bottom" nowrap>)(d)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>466</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Retained earnings</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>101,947</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>206,620</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(197,692</TD>
    <TD align="left" valign="bottom" nowrap>)(d)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>97,607</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="3"><FONT style="font-size: 8pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(8,928</TD>
    <TD align="left" valign="bottom" nowrap>)(a)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="3"><FONT style="font-size: 8pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(4,340</TD>
    <TD align="left" valign="bottom" nowrap>)(f)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Treasury stock, at cost</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(50,000</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(66,132</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>66,132</TD>
    <TD align="left" valign="bottom" nowrap>(d)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="3"><FONT style="font-size: 8pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>50,000</TD>
    <TD align="left" valign="bottom" nowrap>(c)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Total stockholders&#146; equity</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>562,437</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>357,433</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>60,227</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>980,097</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Total liabilities and stockholders&#146; equity (deficit)</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>942,156</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>723,068</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>1,014,332</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>2,679,556</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

</TABLE>
</CENTER>


<P align="center" style="font-size: 10pt;">135

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV align="left" style="font-size: 10pt;">
<A name='222'></A>
</DIV>

<!-- link1 "GSC HOLDINGS CORP. NOTES TO UNAUDITED PRO FORMA CONDENSED CONSOLIDATED BALANCE SHEET (In thousands, except per share data)" -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>GSC HOLDINGS CORP.</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>NOTES TO UNAUDITED PRO FORMA CONDENSED CONSOLIDATED BALANCE
SHEET</B>
</DIV>

<DIV align="center" style="font-size: 10pt;">
<B>(In thousands, except per share data)</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
1.&nbsp;Certain reclassifications have been made to the
historical presentation of GameStop and EB to conform to the
presentation used in the unaudited pro forma condensed
consolidated balance sheet.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
2.&nbsp;In connection with the business combination, EB
stockholders will have the right to receive $38.15 in cash plus
..78795&nbsp;shares of Holdco Class&nbsp;A common stock for each
share of EB common stock that they own. We have assumed that an
aggregate of 19,528&nbsp;shares of Holdco Class&nbsp;A common
stock will be issued based upon an assumed number of outstanding
shares of EB common stock of 24,783 and an assumed stock price
of $21.61&nbsp;per share, with the total consideration
attributable to the Holdco common stock to be issued in the EB
merger equaling $422,000.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Until closing, EB option holders have the right to exercise
their options, giving them the right to receive the same
consideration as the EB stockholders as described above. To the
extent the options are exercised, EB&nbsp;will receive cash
proceeds equal to the exercise price of the option and a tax
benefit equal to the stock value at the date of exercise, net of
the exercise price, multiplied by the effective tax rate. For
those options that remain unexercised as of the closing date,
those option holders have the right to receive $38.15 in cash
plus cash equal to .78795 multiplied by the average of the
closing prices of GameStop Class&nbsp;A common stock for the ten
trading days prior to the closing date less their exercise price
less applicable tax withholding. We have assumed that all
currently outstanding options will be outstanding at the time of
closing in calculating the consideration to EB option holders.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Under the purchase method of accounting, the total estimated
consideration as shown in the table below is allocated to
EB&#146;s tangible and intangible assets and liabilities based
on a preliminary estimate of their fair values as of the date of
the mergers. The preliminary estimated consideration is as
follows:
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 9pt; margin-top: 12pt; ">

<TR style="font-size: 1pt;">
    <TD width="63%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Capital in</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Excess of</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Common</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Par</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Shares</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Value</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Total</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Issuance of Holdco shares to EB (19.528&nbsp;million shares at
    $21.61)</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>20</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>421,980</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>422,000</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Cash consideration paid to EB common stockholders</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>945,471</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Cash consideration paid to EB stock option holders</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>40,586</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Estimated GameStop transaction costs</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>28,000</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Total cash consideration</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,014,037</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Total consideration</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>1,436,057</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

</TABLE>
</CENTER>


<DIV align="left" style="font-size: 10pt; margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The historical net book value of EB at April&nbsp;30, 2005 was
$357,433 resulting in excess cost over book value of $1,083,848,
which has been allocated to EB&#146;s&nbsp;assets and
liabilities on a preliminary basis.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Based upon the preliminary assessment of the fair values, the
allocation of the purchase price to the proportionate amount of
assets acquired and liabilities assumed in the combination with
EB is as follows:
</DIV>


<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 9pt; margin-top: 12pt; ">

<TR style="font-size: 1pt;">
    <TD width="3%">&nbsp;</TD>
    <TD width="81%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Merchandise inventories</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>329,650</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Other current assets</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>175,549</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Property and equipment, net</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>253,886</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Intangibles:</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Executive employment contracts and non-compete agreements</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>4,483</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Point of sale software</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>3,150</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Other noncurrent assets</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>32,553</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Goodwill</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>995,733</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Total assets acquired</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,795,004</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="6">&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Liabilities assumed:</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Accounts payable</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>236,098</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Other current liabilities</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>96,260</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Long-term liabilities</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>26,589</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Total liabilities assumed</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>358,947</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Total purchase price</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>1,436,057</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

</TABLE>
</CENTER>


<P align="center" style="font-size: 10pt;">136

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV align="left" style="font-size: 10pt; margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The executive employment contracts and the point of sale
software have been assigned an estimated useful life of three
years, while the executive non-compete agreement has been
assigned a useful life of two years. The goodwill is considered
to have an indefinite life and will not be amortized.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 9pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Holdco has not completed an assessment of the fair values of
assets and liabilities of EB and the related business
integration plans. Holdco expects that the ultimate purchase
price allocation will include adjustments to the fair values of
depreciable tangible assets, inventory, identifiable intangible
assets (some of which will have indefinite lives) and
liabilities, including the establishment of any potential
liabilities and reserves associated with business integration
plans, sales of underperforming real estate, and termination and
change in control benefits. Accordingly, to the extent such
assessments indicate that the fair value of the assets and
liabilities differ from their net book values, such differences
would be allocated to those assets and liabilities.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(a)&nbsp;To give effect to $10,000 of estimated merger bonuses
and $4,400 of estimated severance payments to certain EB
executives, net of tax benefit.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)&nbsp;To give effect to the receipt of $950,000 resulting
from issuance of senior bonds.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(c)&nbsp;To give effect to the investment in EB by the payment
of cash and issuance of 19,528&nbsp;shares of Holdco
Class&nbsp;A common stock and to the elimination of GameStop
treasury stock.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(d)&nbsp;To eliminate the investment in EB against the
underlying net book value and to reflect the results of the
preliminary allocation of purchase price (pending the appraisal).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(e)&nbsp;To give effect to the deferred financing fees.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(f)&nbsp;To give effect to the commitment fees related to the
bridge loan, net of tax benefit.
</DIV>

<P align="center" style="font-size: 10pt;">137

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV align="left" style="font-size: 10pt;">
<A name='223'></A>
</DIV>

<!-- link1 "GSC HOLDINGS CORP. UNAUDITED PRO FORMA CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS" -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>GSC HOLDINGS CORP.</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>UNAUDITED PRO FORMA CONDENSED CONSOLIDATED STATEMENT OF
OPERATIONS</B>
</DIV>


<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; margin-top: 6pt; ">

<TR style="font-size: 1pt;">
    <TD width="3%">&nbsp;</TD>
    <TD width="38%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Historical</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Historical</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>GameStop</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>EB</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>GSC</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>January&nbsp;29,</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>January&nbsp;29,</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Pro Forma</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Holdings Corp.</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD colspan="2" align="left" nowrap><B>For the Fiscal Year Ended January&nbsp;29, 2005</B></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>2005(a)</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>2005(a)</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Adjustments(b)</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Pro Forma</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>


<TR style="font-size: 8pt;">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="14" align="center" nowrap><B>(in thousands, except per share data)</B></TD><TD></TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Sales</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>1,842,806</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>1,983,537</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>3,826,343</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Management Fees</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>5,845</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>5,845</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Total Revenues</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,842,806</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,989,382</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>3,832,188</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Cost of sales</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,333,506</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,450,205</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>2,783,711</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Gross profit</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>509,300</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>539,177</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,048,477</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Selling, general and administrative expenses</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>373,364</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>422,374</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>795,738</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Depreciation and amortization</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>36,789</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>37,473</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>14,296</TD>
    <TD align="left" valign="bottom" nowrap>(g)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>88,558</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Operating earnings</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>99,147</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>79,330</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(14,296</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>164,181</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Interest income</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(1,919</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(2,350</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(4,269</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Interest expense</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>2,155</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>76,000</TD>
    <TD align="left" valign="bottom" nowrap>(c)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>78,155</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2"><FONT style="font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>3,268</TD>
    <TD align="left" valign="bottom" nowrap>(d)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>3,268</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Earnings (loss) before income tax expense (benefit)</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>98,911</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>81,680</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(93,564</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>87,027</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Income tax expense (benefit)</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>37,985</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>29,393</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(35,554</TD>
    <TD align="left" valign="bottom" nowrap>)(e)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>31,824</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Net earnings (loss)</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>60,926</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>52,287</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>(58,010</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>55,203</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Net earnings (loss) per Class&nbsp;A and Class&nbsp;B common
    share&nbsp;&#151; basic</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>1.11</TD>
    <TD align="left" valign="bottom" nowrap>(h)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>2.16</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>(2.53</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>0.75</TD>
    <TD align="left" valign="bottom" nowrap>(i)</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR>
    <TD colspan="2"><FONT style="font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(24,159</TD>
    <TD align="left" valign="bottom" nowrap>)(f)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Weighted average shares of common stock&nbsp;&#151; basic</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>54,662</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>24,159</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>19,421</TD>
    <TD align="left" valign="bottom" nowrap>(f)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>74,083</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Net earnings (loss) per Class&nbsp;A and Class&nbsp;B common
    share&nbsp;&#151; diluted</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>1.05</TD>
    <TD align="left" valign="bottom" nowrap>(h)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>2.13</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>(2.47</TD>
    <TD align="left" valign="bottom" nowrap>)(f)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>0.71</TD>
    <TD align="left" valign="bottom" nowrap>(i)</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2"><FONT style="font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(24,547</TD>
    <TD align="left" valign="bottom" nowrap>)(f)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Weighted average shares of common stock&nbsp;&#151; diluted</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>57,796</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>24,547</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>19,421</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>77,217</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

</TABLE>
</CENTER>


<DIV align="center" style="font-size: 10pt; margin-top: 9pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
See Notes to Unaudited Pro Forma Condensed Consolidated
Statements of Operations
</DIV>

<P align="center" style="font-size: 10pt;">138

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV align="left" style="font-size: 10pt;">
<A name='224'></A>
</DIV>

<!-- link1 "GSC HOLDINGS CORP. UNAUDITED PRO FORMA CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS" -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>GSC HOLDINGS CORP.</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>UNAUDITED PRO FORMA CONDENSED CONSOLIDATED STATEMENTS OF
OPERATIONS</B>
</DIV>


<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; margin-top: 6pt; ">

<TR style="font-size: 1pt;">
    <TD width="3%">&nbsp;</TD>
    <TD width="44%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Pro Forma</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Pro Forma</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Historical</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Historical</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>GSC</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>GameStop</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>EB</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Holdings</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>April 30,</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>April 30,</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Pro Forma</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Corp.</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>2005</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>2005</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Adjustments</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Pro Forma</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD colspan="2" align="center" nowrap><B>For the Fiscal Quarter Ended April&nbsp;30, 2005</B></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Sales</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>474,727</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>505,961</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>980,688</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Management Fees</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,124</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,124</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Total Revenues</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>474,727</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>507,085</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>981,812</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Cost of sales</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>348,690</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>374,360</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>723,050</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Gross profit</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>126,037</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>132,725</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>258,762</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Selling, general and administrative expenses</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>98,986</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>118,502</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>217,488</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Depreciation and amortization</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>10,194</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>10,802</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>3,573</TD>
    <TD align="left" valign="bottom" nowrap>(g)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>24,569</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Operating earnings</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>16,857</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>3,421</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(3,573</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>16,705</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Interest income</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(655</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(917</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(1,572</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Interest expense</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>738</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>19,000</TD>
    <TD align="left" valign="bottom" nowrap>(c)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>19,738</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2"><FONT style="font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>817</TD>
    <TD align="left" valign="bottom" nowrap>(d)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>817</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Earnings (loss) before income tax expense (benefit)</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>16,774</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>4,338</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(23,390</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(2,278</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Income tax expense (benefit)</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>6,448</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,561</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(8,888</TD>
    <TD align="left" valign="bottom" nowrap>)(e)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(879</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Net earnings (loss)</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>10,326</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>2,777</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>(14,502</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>(1,399</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Net earnings (loss) per Class&nbsp;A and Class&nbsp;B common
    share&nbsp;&#151; basic</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>0.20</TD>
    <TD align="left" valign="bottom" nowrap>(h)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>0.11</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>(0.33</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>(0.02</TD>
    <TD align="left" valign="bottom" nowrap>)(i)</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR>
    <TD colspan="2"><FONT style="font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(24,696</TD>
    <TD align="left" valign="bottom" nowrap>)(f)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Weighted average shares of common stock&nbsp;&#151; basic</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>51,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>24,696</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>19,528</TD>
    <TD align="left" valign="bottom" nowrap>(f)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>70,528</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Net earnings (loss) per Class&nbsp;A and Class&nbsp;B common
    share&nbsp;&#151; diluted</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>0.19</TD>
    <TD align="left" valign="bottom" nowrap>(h)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>0.11</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>(0.32</TD>
    <TD align="left" valign="bottom" nowrap>)(f)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>(0.02</TD>
    <TD align="left" valign="bottom" nowrap>)(i)</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2"><FONT style="font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(25,079</TD>
    <TD align="left" valign="bottom" nowrap>)(f)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Weighted average shares of common stock&nbsp;&#151; diluted</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>54,490</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>25,079</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>19,528</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>74,018</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

</TABLE>
</CENTER>


<DIV align="center" style="font-size: 10pt; margin-top: 9pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
See Notes to Unaudited Pro Forma Condensed Consolidated
Statements of Operations
</DIV>

<P align="center" style="font-size: 10pt;">139

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<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>GSC HOLDINGS CORP.</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>NOTES TO UNAUDITED PRO FORMA CONDENSED CONSOLIDATED</B>
</DIV>

<DIV align="center" style="font-size: 10pt;">
<B>STATEMENTS OF OPERATIONS</B>
</DIV>

<DIV align="center" style="font-size: 10pt;">
<B>(In thousands, except per share data)</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(a)&nbsp;Certain reclassifications have been made to the
historical presentation of GameStop and EB to conform to the
presentation used in the unaudited pro forma condensed
consolidated statement of operations.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)&nbsp;The Unaudited Pro Forma Condensed Consolidated
Statements of Operations exclude the estimated commitment fees,
in the amount of approximately $7,000, related to the bridge
loan and the estimated $10,000 merger bonuses and $4,400
severance payments to certain EB executives, which are
nonrecurring items directly attributable to the transaction.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(c)&nbsp;To give effect to the interest expense incurred related
to the receipt of $950,000 resulting from issuance of senior
bonds, at an assumed interest rate of 8.0%. This is the
mid-point of the 7% to 9% estimated range of Holdco&#146;s high
yield senior bonds.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(d)&nbsp;To give effect to the amortization of deferred
financing fees over seven years.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(e)&nbsp;Represents the aggregate pro forma effective income tax
effect (38%) of Notes&nbsp;(c) and (d) above.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(f)&nbsp;The pro forma earnings per share has been adjusted to
reflect the issuance of Holdco common stock to EB common
stockholders based upon the number of shares expected to be
issued.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(g)&nbsp;To give effect to the intangible asset amortization and
depreciation on the property and equipment adjustment based on
the allocation of the purchase price over the estimated useful
lives.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(h)&nbsp;The holders of GameStop Class&nbsp;A and Class&nbsp;B
common stock generally have identical rights, except that the
holders of GameStop Class&nbsp;A common stock are entitled to
one vote per share and the holders of GameStop Class&nbsp;B
common stock are entitled to ten votes per share on all matters
to be voted on by stockholders. Earnings per common share
amounts represent per share amounts for both classes of common
stock.
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(i)&nbsp;The holders of Holdco Class&nbsp;A and Class&nbsp;B
common stock generally have identical rights, except that the
holders of Holdco Class&nbsp;A common stock are entitled to one
vote per share and the holders of Holdco Class&nbsp;B common
stock are entitled to ten votes per share on all matters to be
voted on by stockholders. Earnings per common share amounts
represent per share amounts for both classes of common stock.
</DIV>


<P align="center" style="font-size: 10pt;">140

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<DIV align="left" style="font-size: 10pt;">
<A name='225'></A>
</DIV>

<!-- link1 "DESCRIPTION OF HOLDCO CAPITAL STOCK" -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>DESCRIPTION OF HOLDCO CAPITAL STOCK</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The following summary is a description of the material terms of
Holdco&#146;s capital stock as of the effective time of the
mergers and is not complete. You should also refer to
(1)&nbsp;Holdco&#146;s amended and restated certificate of
incorporation, which is attached as Exhibit&nbsp;3.1 to the
Registration Statement on Form&nbsp;S-4 of which this joint
proxy statement-prospectus is a part, (2)&nbsp;Holdco&#146;s
amended and restated bylaws, which are attached as
Exhibit&nbsp;3.2 to the Registration Statement on Form&nbsp;S-4
of which this joint proxy statement-prospectus is a part, and
(3)&nbsp;the applicable provisions of the DGCL.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='226'></A>
</DIV>

<!-- link1 "Common Stock" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Common Stock</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
As of the effective time of the mergers, Holdco will be
authorized to issue up to (i)&nbsp;300,000,000&nbsp;shares of
Class&nbsp;A common stock, par value $.001&nbsp;per share and
(ii)&nbsp;100,000,000&nbsp;shares of Class&nbsp;B common stock,
par value $.001&nbsp;per share. Following the mergers, Holdco
expects there to be approximately 41.8&nbsp;million shares of
Class&nbsp;A common stock of Holdco and 29.9&nbsp;million shares
of Class&nbsp;B common stock of Holdco outstanding.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Each holder of Holdco&#146;s common stock is entitled to receive
dividends as may be declared by the board of directors of Holdco
from time to time out of assets or funds of Holdco legally
available for payment, subject to the holders of Holdco&#146;s
preferred stock.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Each holder of Class&nbsp;A common stock is entitled to one vote
per share. Each holder of Class&nbsp;B common stock is entitled
to ten votes per share. Subject to the rights, if any, of the
holders of any series of preferred stock and subject to
applicable law, all voting rights are vested in the holders of
common stock. Holders of shares of common stock are not entitled
to exercise any right of cumulative voting.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In the event of a voluntary or involuntary liquidation,
dissolution or winding up of Holdco, the holders of common stock
will be entitled to share equally in any of the assets available
for distribution after Holdco has paid in full all of its debts
and after the holder of all series of Holdco&#146;s outstanding
preferred stock have received their liquidation preferences in
full.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The issued and outstanding shares of common stock are fully paid
and nonassessable. Holders of common stock have no preemptive or
preferential right. Shares of common stock are not convertible
into shares of any other class of capital stock. The Bank of New
York is the transfer agent for the common stock. Holdco may from
time to time after the consummation of the mergers engage
another transfer agent for its stock as business circumstances
warrant.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='227'></A>
</DIV>

<!-- link1 "Preferred Stock" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Preferred Stock</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
As of the effective time of the mergers, the board of directors
of Holdco will be authorized to issue up to
5,000,000&nbsp;shares of preferred stock, 500,000 of which shall
be designated as &#147;Series&nbsp;A junior preferred
stock,&#148; in one or more series, and to determine the voting
powers, preferences and relative, optional and other special
rights of the shares of such series, and the qualifications,
limitations or restrictions thereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Subject to the determination of the Holdco board of directors in
any certificate of designations for a series of preferred stock,
Holdco&#146;s preferred stock would generally have preference
over common stock with respect to the payment of dividends and
the distribution of assets in the event of a liquidation or
dissolution of Holdco.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Holders of Series&nbsp;A junior preferred stock are entitled to
receive when, as and if declared by the board of directors of
Holdco out of funds legally available for the purpose, dividends
payable in cash on the
30<SUP style="font-size: 85%; vertical-align: text-top">th</SUP>
day of each April, July, October and January in each year or
such earlier date in any such month on which dividends on the
common stock are payable.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Each holder of Series&nbsp;A junior preferred stock is entitled
to 10,000 votes per share on all matters submitted to a vote of
the stockholders of Holdco.
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In the event of a voluntary or involuntary liquidation,
dissolution or winding up of Holdco, the holders of
Series&nbsp;A junior preferred stock will be entitled to receive
$1,000&nbsp;per share, plus an amount equal to accrued and
unpaid dividends and distributions thereon, whether or not
declared. After the full payment of the amount in the preceding
sentence, no additional distributions shall be made to holders
of Series&nbsp;A junior preferred stock unless the holders of
common stock receive the Common Adjustment (as more fully
described in Holdco&#146;s amended and restated certificate of
incorporation). Following the payment of the Common Adjustment,
holders of Series&nbsp;A junior preferred stock and holders of
common stock will receive their ratable and proportionate share
of the remaining assets to be distributed, on a per share basis.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='228'></A>
</DIV>

<!-- link1 "Rights Agreement" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Rights Agreement</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Holdco has adopted a rights agreement substantially similar to
the rights agreement currently adopted by GameStop. EB has not
adopted a rights agreement. Under Holdco&#146;s rights
agreement, one right (a&nbsp;Right) is attached to each
outstanding share of Holdco Class&nbsp;A common stock and each
outstanding share of Holdco Class&nbsp;B Common Stock which will
entitle the registered holder to purchase from Holdco one
one-thousandth of a share of Series&nbsp;A junior preferred
stock at a price of $100.00&nbsp;per one one-thousandth of a
share (the Purchase Price), subject to adjustment. The following
summary is qualified in its entirety by reference to the
complete text of the rights agreement attached as
Exhibit&nbsp;4.2 to the Registration Statement on Form&nbsp;S-4
of which this joint proxy statement-prospectus is a part.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Until the earlier to occur of (i)&nbsp;a public announcement
that, without the prior consent of the board of directors of
Holdco, a person or group of affiliated or associated persons
(an Acquiring Person) has acquired beneficial ownership of 15%
or more of the voting power of the outstanding shares of Holdco
common stock (or an additional 5% or more of the voting power of
the outstanding shares of Holdco common stock in the case of any
Acquiring Person who beneficially owns 15% or more of the voting
power of the outstanding shares of Holdco common stock as of the
date of the rights agreement) or (ii)&nbsp;10 business days (or
such later date as may be determined by action of the board of
directors prior to such time as any person becomes an Acquiring
Person) following the commencement of, or announcement of an
intention to make, a tender offer or exchange offer the
consummation of which would result in the beneficial ownership
by a person or group of 15% or more of the voting power of the
outstanding shares of Holdco common stock (the earlier of such
dates being called the Distribution Date), the Rights will be
evidenced, with respect to any of the Holdco common stock
certificates outstanding, by such Holdco common stock
certificate.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Rights Agreement provides that, until the Distribution Date,
the Rights will be transferred with and only with the shares of
Holdco common stock. Until the Distribution Date (or earlier
redemption or expiration of the Rights), new Holdco common stock
certificates issued in connection with and after the mergers,
upon transfer or new issuance of shares of Holdco common stock,
will contain a notation incorporating the Rights Agreement by
reference. Until the Distribution Date (or earlier redemption or
expiration of the Rights), the surrender for transfer of any
certificates for shares of Holdco common stock outstanding as of
the Record Date, even without such notation or a copy of this
Summary of Rights being attached thereto, will also constitute
the transfer of the Rights associated with the shares of Holdco
common stock represented by such certificate. As soon as
practicable following the Distribution Date, separate
certificates evidencing the Rights (Right Certificates) will be
mailed to holders of record of the shares of Holdco common stock
as of the close of business on the Distribution Date and such
separate Right Certificates alone will evidence the Rights.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Rights are not exercisable until the Distribution Date. The
Rights will expire on October&nbsp;28, 2014 (the Final
Expiration Date), unless the Final Expiration Date is extended
or unless the Rights are earlier redeemed by Holdco, in each
case, as described below.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Purchase Price payable, and the number of one one-thousandth
shares of preferred stock or other securities or property
issuable, upon exercise of the Rights are subject to adjustment
from time to time to prevent dilution (i)&nbsp;in the event of a
stock dividend on, or a subdivision, combination or
reclassification of, the preferred stock, (ii)&nbsp;upon the
grant to holders of the preferred stock of certain rights or
warrants to
</DIV>

<P align="center" style="font-size: 10pt;">142

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<DIV align="left" style="font-size: 10pt;">
subscribe for or purchase preferred stock at a price, or
securities convertible into preferred stock with a conversion
price, less than the then current market price of the preferred
stock or (iii)&nbsp;upon the distribution to holders of the
preferred stock of evidences of indebtedness or assets
(excluding regular periodic cash dividends paid out of earnings
or retained earnings or dividends payable in preferred stock) or
of subscription rights or warrants (other than those referred to
above).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The number of outstanding Rights associated with each share of
Holdco common stock and the voting and economic rights of each
one one-thousandth of a share of preferred stock issuable upon
exercise of each Right are also subject to adjustment in the
event of a stock split of the shares of Holdco common stock or a
stock dividend on the shares of Holdco common stock payable in
shares of Holdco common stock or subdivisions, consolidations or
combinations of the shares of Holdco common stock occurring, in
any such case, prior to the Distribution Date.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In the event that any person becomes an Acquiring Person, each
holder of a Right, other than Rights beneficially owned by the
Acquiring Person and its Affiliates and Associates (which will
thereafter be null and void), will thereafter have the right to
receive upon exercise of the Right and payment of the then
current Purchase Price that number of one one-thousandths of a
share of preferred stock having a market value of two times that
Purchase Price.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In the event that, after the Distribution Date, Holdco is
acquired in a merger or other business combination transaction
or 50% or more of its consolidated assets or earning power are
sold, proper provision will be made so that each holder of a
Right will thereafter have the right to receive, upon the
exercise thereof at the then current Purchase Price of the
Right, that number of shares of common stock of the acquiring
company which at the time of such transaction will have a market
value of two times that Purchase Price.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If Holdco does not have sufficient shares of preferred stock to
satisfy such obligation to issue preferred stock, or if the
board of directors so elects, Holdco shall deliver upon payment
of the Purchase Price of a Right an amount of cash or shares of
Holdco common stock or securities equivalent in value to the
shares of preferred stock issuable upon exercise of a Right;
provided that, if Holdco fails to meet such obligation within
30&nbsp;days following the later of (x)&nbsp;the first
occurrence of an event triggering the right to purchase shares
of Holdco common stock and (y)&nbsp;the date on which
Holdco&#146;s right to redeem the Rights expires, Holdco must
deliver, upon exercise of a Right but without requiring payment
of the Purchase Price then in effect, shares of preferred stock
(to the extent available) and cash equal in value to the
difference between the value of the shares of preferred stock
otherwise issuable upon the exercise of a Right and the Purchase
Price then in effect. The board of directors may extend the
30&nbsp;day period described above for up to an additional
60&nbsp;days to permit the taking of action that may be
necessary to authorize sufficient additional shares of preferred
stock to permit the issuance of preferred stock upon the
exercise in full of the Rights.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
At any time after the acquisition by a person or group of
affiliated or associated persons of beneficial ownership of 15%
or more of the voting power of the outstanding shares of Holdco
common stock and prior to the acquisition by such person or
group of 50% or more of the voting power of the outstanding
shares of Holdco common stock, the board of directors of Holdco
may exchange the Rights (other than Rights owned by such person
or group which have become void), in whole or in part, at an
exchange ratio of one one-thousandth of a share of preferred
stock or one share of Holdco common stock per Right (subject to
adjustment).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
With certain exceptions, no adjustment in the Purchase Price
will be required until cumulative adjustments require an
adjustment of at least 1% in such Purchase Price. No fractional
shares of preferred stock will be issued (other than fractions
which are integral multiples of one one-thousandth of a share of
preferred stock) and in lieu thereof, an adjustment in cash will
be made, based on the market price of the preferred stock on the
last trading day prior to the date of exercise.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
At any time prior to the acquisition by a person or group of
affiliated or associated persons of beneficial ownership of 15%
or more of the voting power of the outstanding shares of Holdco
common
</DIV>

<P align="center" style="font-size: 10pt;">143

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<DIV align="left" style="font-size: 10pt;">
stock, the board of directors of Holdco may redeem the Rights in
whole, but not in part, at a price of $.01&nbsp;per Right (the
Redemption&nbsp;Price). The redemption of the Rights may be made
effective at such time, on such basis and with such conditions
as the board of directors in its sole discretion may establish.
Immediately upon any redemption of the Rights, the right to
exercise the Rights will terminate and the only right of the
holders of Rights will be to receive the Redemption&nbsp;Price.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The preferred stock purchasable upon the exercise of the Rights
will be nonredeemable and junior to any other series of
preferred stock Holdco may issue (unless otherwise provided in
the terms of such stock). Each share of preferred stock will be
entitled to a preferred dividend equal to the greater of
(a)&nbsp;$1.00 or (b)&nbsp;1,000&nbsp;times any dividend
declared on the shares of Holdco common stock. In the event of
liquidation, the holders of preferred stock will receive a
preferred liquidation payment equal to $1,000&nbsp;per share of
preferred stock, plus an amount equal to accrued and unpaid
dividends and distributions thereon. Each share of preferred
stock will have 10,000 votes, voting together with the shares of
Holdco common stock. Notwithstanding the immediately preceding
sentence, in the event that dividends on the preferred stock
shall be in arrears in an amount equal to six quarterly
dividends thereon, holders of the preferred stock shall have the
right, voting as a class, to elect two of Holdco&#146;s
directors. In the event of any merger, consolidation or other
transaction in which shares of Holdco common stock are
exchanged, each share of preferred stock will be entitled to
receive 1,000 times the amount and type of consideration
received per share of Holdco common stock. The rights of the
preferred stock as to dividends, liquidation and voting, and in
the event of mergers and consolidations, are protected by
customary anti-dilution provisions. Fractional shares of
preferred stock in integral multiples of one one-thousandth of a
share of preferred stock will be issuable. In lieu of fractional
shares other than fractions that are multiples of one
one-thousandth of a share, an adjustment in cash will be made
based on the market price of the preferred stock on the last
trading date prior to the date of exercise.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The terms of the Rights may be amended by the board of directors
of Holdco without the consent of the holders of the Rights,
except that from and after such time as any person becomes an
Acquiring Person no such amendment may adversely affect the
interests of the holders of the Rights (other than the Acquiring
Person and its affiliates and associates).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Until a Right is exercised, the holder thereof, as such, will
have no rights as a stockholder of Holdco, including, without
limitation, the right to vote or to receive dividends.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Rights have certain anti-takeover effects. The Rights will
cause substantial dilution to a person or group that attempts to
acquire Holdco without conditioning the offer on the Rights
being redeemed or a substantial number of Rights being acquired.
However, the Rights generally should not interfere with any
merger or other business combination approved by the board of
directors.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='229'></A>
</DIV>

<!-- link1 "COMPARISON OF STOCKHOLDER RIGHTS" -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>COMPARISON OF STOCKHOLDER RIGHTS</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The rights of GameStop stockholders are currently governed by
Delaware law and the certificate of incorporation and bylaws of
GameStop. The rights of EB stockholders are also currently
governed by Delaware law and the certificate of incorporation
and bylaws of EB. Upon completion of the mergers, the rights of
GameStop and EB stockholders who become stockholders of Holdco
in the mergers will be governed by the DGCL and the amended and
restated certificate of incorporation and amended and restated
bylaws of Holdco.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
This section of the joint proxy statement-prospectus describes
the material differences between the rights of GameStop
stockholders and EB stockholders. This section also includes a
brief description of the material rights that Holdco
stockholders are expected to have immediately following
completion of the mergers. In addition, this section contains a
summary of the DGCL.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
This section does not include a description of the provisions of
the certificate of incorporation and bylaws of GameStop that are
no longer operative. This section does not include a complete
description of all differences among the rights of the
stockholders, nor does it include a complete description of the
specific rights of the stockholders. Furthermore, the
identification of some of the differences in the rights
</DIV>

<P align="center" style="font-size: 10pt;">144

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<DIV align="left" style="font-size: 10pt;">
of the stockholders as material is not intended to indicate that
other differences that may be equally important do not exist.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
All GameStop stockholders and EB stockholders are urged to read
carefully the relevant provisions of the DGCL as well as the
certificates of incorporation and bylaws of each of GameStop, EB
and Holdco. Copies of the certificates of incorporation and
bylaws of Holdco, GameStop and EB are available to GameStop
stockholders and EB stockholders upon request. See &#147;Where
You Can Find More Information&#148; on page&nbsp;162.
</DIV>


<DIV align="left" style="font-size: 10pt;">
<A name='230'></A>
</DIV>

<!-- link1 "Authorized Capital Stock" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Authorized Capital Stock</B>
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt;">

<TR>
    <TD width="28%"></TD>
    <TD width="1%"></TD>
    <TD width="71%"></TD>
</TR>

<TR>
    <TD valign="top">
    <I>GameStop</I></TD>
    <TD></TD>
    <TD valign="top">
    The authorized capital stock of GameStop consists of:</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    &#149;&nbsp;300,000,000&nbsp;shares of Class&nbsp;A common
    stock, par value $0.001&nbsp;per share;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    &#149;&nbsp;100,000,000&nbsp;shares of Class&nbsp;B common
    stock, par value $0.001&nbsp;per share; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    &#149;&nbsp;5,000,000&nbsp;shares of preferred stock, par value
    $0.001&nbsp;per share.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <I>Holdco</I></TD>
    <TD></TD>
    <TD valign="top">
    Same as GameStop.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <I>EB</I></TD>
    <TD></TD>
    <TD valign="top">
    The authorized capital stock of EB consists of:</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    &#149;&nbsp;100,000,000&nbsp;shares of common stock, par value
    $0.01&nbsp;per share;&nbsp;and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    &#149;&nbsp;25,000,000&nbsp;shares of preferred stock, par value
    $0.01&nbsp;per share.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt;">
<A name='231'></A>
</DIV>

<!-- link1 "Voting Power of Capital Stock" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Voting Power of Capital Stock</B>
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt;">

<TR>
    <TD width="28%"></TD>
    <TD width="1%"></TD>
    <TD width="71%"></TD>
</TR>

<TR>
    <TD valign="top">
    <I>GameStop</I></TD>
    <TD></TD>
    <TD valign="top">
    Each holder of Class&nbsp;A common stock has the right to cast
    one vote for each share of Class&nbsp;A common stock held of
    record on all matters submitted to a vote of stockholders,
    including the election of directors. Each holder of Class&nbsp;B
    common stock has the right to cast ten votes for each share of
    Class&nbsp;B common stock held of record on all matters
    submitted to a vote of stockholders, including the election of
    directors.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <I>Holdco</I></TD>
    <TD></TD>
    <TD valign="top">
    Same as GameStop.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <I>EB</I></TD>
    <TD></TD>
    <TD valign="top">
    Each holder of common stock has the right to cast one vote for
    each share of common stock held of record on all matters
    submitted to a vote of stockholders.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt;">
<A name='232'></A>
</DIV>

<!-- link1 "Class Voting" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Class&nbsp;Voting</B>
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt;">

<TR>
    <TD width="28%"></TD>
    <TD width="1%"></TD>
    <TD width="71%"></TD>
</TR>

<TR>
    <TD valign="top">
    <I>Delaware</I></TD>
    <TD></TD>
    <TD valign="top">
    Delaware corporate law requires a class vote only with respect
    to amendments to a certificate of incorporation that
    (1)&nbsp;would alter or change the powers, preferences or
    special rights of the shares of such class so as to affect them
    adversely or (2)&nbsp;would increase or decrease the aggregate
    number of authorized shares or the par value of the shares of
    such class.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <I>GameStop</I></TD>
    <TD></TD>
    <TD valign="top">
    Subject to the rights of any preferred stock that may be issued,
    and except as may be otherwise required by law or by the
    certificate of incorporation, the holders of the Class&nbsp;A
    common stock and the Class&nbsp;B common stock vote together as
    a single class on all matters submitted to a vote of
    stockholders. The</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">145

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<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt;">

<TR>
    <TD width="28%"></TD>
    <TD width="1%"></TD>
    <TD width="71%"></TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    holders of Class&nbsp;A common stock are not entitled to vote on
    any alteration or change in the powers, preferences, or special
    rights of the Class&nbsp;B common stock that would not adversely
    affect the rights of the Class&nbsp;A common stock. With respect
    to any proposed amendment to the certificate of incorporation
    that would alter or change the powers, preferences, or special
    rights of the shares of Class&nbsp;A common stock or
    Class&nbsp;B common stock so as to affect them adversely, the
    approval of a majority of the votes entitled to be cast by the
    holders of the shares affected by the proposed amendment, voting
    separately as a class, is required in addition to the approval
    of the holders of at least a majority or such higher percentage
    as is required by law or the certificate of incorporation of the
    voting power of the then outstanding voting stock, voting
    together as a single class.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <I>Holdco</I></TD>
    <TD></TD>
    <TD valign="top">
    Same as GameStop.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <I>EB</I></TD>
    <TD></TD>
    <TD valign="top">
    No specific class voting rights are provided by the certificate
    of incorporation.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt;">
<A name='233'></A>
</DIV>

<!-- link1 "Directors" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Directors</B>
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt;">

<TR>
    <TD width="28%"></TD>
    <TD width="1%"></TD>
    <TD width="71%"></TD>
</TR>

<TR>
    <TD valign="top">
    <I>Delaware</I></TD>
    <TD></TD>
    <TD valign="top">
    The certificate of incorporation or the bylaws of a Delaware
    corporation may contain provisions governing the number and
    terms of directors. However, if the certificate of incorporation
    contains provisions fixing the number of directors, that number
    may not be changed without amending the certificate of
    incorporation. Under Delaware law, the certificate of
    incorporation or a bylaw adopted by the stockholders may provide
    that directors be divided into one, two or three classes.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <I>GameStop</I></TD>
    <TD></TD>
    <TD valign="top">
    The board of directors of GameStop currently has seven members.
    The GameStop certificate of incorporation provides that the
    board of directors will fix the number of directors from time to
    time, but the number of directors may not be less than three nor
    more than fifteen. The certificate of incorporation and bylaws
    of GameStop provide for a classified board of directors.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <I>Holdco</I></TD>
    <TD></TD>
    <TD valign="top">
    The board of directors of Holdco will have nine members upon
    completion of the mergers. The Holdco certificate of
    incorporation provides that the board of directors will fix the
    number of directors from time to time, but the number of
    directors may not be less than three nor more than fifteen. The
    certificate of incorporation and bylaws of Holdco provide for a
    classified board of directors.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <I>EB</I></TD>
    <TD></TD>
    <TD valign="top">
    The board of directors of EB currently has seven members. The
    bylaws of EB provide that the EB board of directors will fix the
    number of directors from time to time, but the number of
    directors may not be less than three nor more than 20. Neither
    the certificate of incorporation or the bylaws of EB provide for
    a classified board of directors.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">146

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<DIV align="left" style="font-size: 10pt;">
<A name='234'></A>
</DIV>

<!-- link1 "Qualifications of Directors" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Qualifications of Directors</B>
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt;">

<TR>
    <TD width="28%"></TD>
    <TD width="1%"></TD>
    <TD width="71%"></TD>
</TR>

<TR>
    <TD valign="top">
    <I>Delaware</I></TD>
    <TD></TD>
    <TD valign="top">
    Under Delaware law, a director need not be a stockholder unless
    the certificate of incorporation or bylaws so require.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <I>GameStop</I></TD>
    <TD></TD>
    <TD valign="top">
    Neither the amended and restated certificate of incorporation
    nor amended and restated bylaws of GameStop contain a provision
    specifying that a director needs to be a stockholder. Directors
    must be at least 21&nbsp;years of age.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <I>Holdco</I></TD>
    <TD></TD>
    <TD valign="top">
    Same as GameStop.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <I>EB</I></TD>
    <TD></TD>
    <TD valign="top">
    Neither the certificate of incorporation nor bylaws of EB
    contain a provision specifying that a director needs to be a
    stockholder.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt;">
<A name='235'></A>
</DIV>

<!-- link1 "Vacancies on the Board of Directors" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Vacancies on the Board of Directors</B>
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt;">

<TR>
    <TD width="28%"></TD>
    <TD width="1%"></TD>
    <TD width="71%"></TD>
</TR>

<TR>
    <TD valign="top">
    <I>Delaware</I></TD>
    <TD></TD>
    <TD valign="top">
    Under Delaware law, unless otherwise provided in the certificate
    of incorporation or the bylaws, vacancies on a board of
    directors and newly created directorships resulting from an
    increase in the authorized number of directors may be filled by
    a majority of the directors then in office, although less than a
    quorum, or by the sole remaining director. In the case of a
    classified board of directors, directors elected to fill
    vacancies or newly created directorships will hold office until
    the next election of the class for which those directors have
    been chosen and until their successors have been duly elected
    and qualified. In addition, if, at the time of the filling of
    any such vacancy or newly created directorship, the directors
    then in office constitute less than a majority of the whole
    board of directors (as constituted immediately before any such
    increase), the Delaware Court of Chancery may, upon application
    of any stockholder or stockholders holding at least 10% of the
    voting stock at the time outstanding having the right to vote
    for such directors, summarily order an election to be held to
    fill any such vacancy or newly created directorship, or replace
    the directors chosen by the directors then in office.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <I>GameStop</I></TD>
    <TD></TD>
    <TD valign="top">
    Subject to the rights of any preferred stock, vacancies on the
    board of directors of GameStop including newly created
    directorships resulting from any increase in the authorized
    number of directors, may be filled by a majority vote of the
    directors then in office, even if those directors do not
    constitute a quorum, or by the sole remaining director, or by
    stockholders if such vacancy was caused by the removal of a
    director by the action of stockholders (in which event such
    vacancy may not be filled by the directors or a majority
    thereof). The directors so elected will hold office for the
    remainder of the full term of the class of directors in which
    the new directorship was created or the vacancy occurred or
    until such director&#146;s successor shall have been duly
    elected and qualified.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <I>Holdco</I></TD>
    <TD></TD>
    <TD valign="top">
    Same as GameStop.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <I>EB</I></TD>
    <TD></TD>
    <TD valign="top">
    The bylaws of EB provide that vacancies and newly created
    directorships resulting from any increase in the number of
    directors may be filled by a majority of the directors then in</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">147

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    <TD></TD>
    <TD valign="top">
    office, although less than a quorum, or by the sole remaining
    director and each director so chosen shall hold office until the
    next annual meeting at which the term of the class to which such
    director has been elected expires and until such director&#146;s
    successor has been duly elected and qualified, or until such
    director&#146;s earlier resignation, removal from office, death
    or incapacity.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt;">
<A name='236'></A>
</DIV>

<!-- link1 "Removal of Directors" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Removal of Directors</B>
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt;">

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    <I>Delaware</I></TD>
    <TD></TD>
    <TD valign="top">
    Under Delaware law, any director may be removed, with or without
    cause, by the holders of a majority in voting power of the
    shares then entitled to vote at an election of directors.
    Members of a classified board of directors, however, may be
    removed only for cause, unless the certificate of incorporation
    provides otherwise.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <I>GameStop</I></TD>
    <TD></TD>
    <TD valign="top">
    The certificate of incorporation of GameStop provides that
    directors may be removed, but only for cause and only upon the
    affirmative vote of the holders of at least 80% of the voting
    power of the then outstanding voting stock.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <I>Holdco</I></TD>
    <TD></TD>
    <TD valign="top">
    Same as GameStop.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <I>EB</I></TD>
    <TD></TD>
    <TD valign="top">
    The bylaws of EB provide that directors may be removed by the
    holders of a majority of the shares then entitled to vote at an
    election of directors, but only for cause.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt;">
<A name='237'></A>
</DIV>

<!-- link1 "Amendments to the Certificate of Incorporation" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Amendments to the Certificate of Incorporation</B>
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt;">

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    <I>Delaware</I></TD>
    <TD></TD>
    <TD valign="top">
    Under Delaware law, unless the certificate of incorporation
    requires a greater vote, a majority of the voting power of the
    outstanding stock entitled to vote thereon and a majority of the
    voting power of the outstanding stock of each class entitled to
    vote thereon, voting in favor of the amendment is required to
    adopt an amendment to the certificate of incorporation.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <I>GameStop</I></TD>
    <TD></TD>
    <TD valign="top">
    Subject to the rights of any preferred stock that may be issued,
    and except as may be otherwise required by law or by the
    certificate of incorporation, the holders of the Class&nbsp;A
    common stock and the Class&nbsp;B common stock vote together as
    a single class on all matters submitted to a vote of
    stockholders. The holders of Class&nbsp;A common stock are not
    entitled to vote on any alteration or change in the powers,
    preferences, or special rights of the Class&nbsp;B common stock
    that would not adversely affect the rights of the Class&nbsp;A
    common stock. With respect to any proposed amendment to the
    certificate of incorporation that would alter or change powers,
    preferences, or special rights of the shares of Class&nbsp;A
    common stock or Class&nbsp;B common stock so as to affect them
    adversely, the approval of a majority of the votes entitled to
    be cast by the holders of the shares affected by the proposed
    amendment, voting separately as a class, is required in addition
    to the approval of the holders of at least a majority or such
    higher percentage as is required by law or the certificate of
    incorporation of the voting power of the then outstanding voting
    stock, voting together as a single class. In addition, an</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">148

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</TD>
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    <TD valign="top">
    amendment to certain provisions of the certificate of
    incorporation requires the approval of the holders of at least
    80% of the voting power of the then outstanding voting stock of
    GameStop entitled to vote generally in the election of
    directors, voting as a single class. Provisions protected by
    this supermajority vote include provisions relating to the
    classified board of directors, vacancies on the board of
    directors, removal of directors, certain amendments to the
    certificate of incorporation, the board&#146;s power to amend
    the bylaws, special meetings of stockholders, stockholder action
    by written consent, notice of special meetings, and advance
    notice of stockholder proposals.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <I>Holdco</I></TD>
    <TD></TD>
    <TD valign="top">
    Same as GameStop.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <I>EB</I></TD>
    <TD></TD>
    <TD valign="top">
    The certificate of incorporation of EB requires the affirmative
    vote of holders of at least 66.67% of the votes entitled to be
    cast by the holders of all outstanding shares entitled to vote
    generally in the election of directors to make, alter, amend,
    change, repeal or adopt certain provisions of the certificate of
    incorporation, including, among other things, provisions
    relating to the power of the board of directors to amend the
    bylaws, the supermajority provision, special meetings of
    stockholders and stockholder action by written consent.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt;">
<A name='238'></A>
</DIV>

<!-- link1 "Amendments to Bylaws" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Amendments to Bylaws</B>
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt;">

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</TR>

<TR>
    <TD valign="top">
    <I>Delaware</I></TD>
    <TD></TD>
    <TD valign="top">
    The power to adopt, amend and repeal bylaws is vested in the
    stockholders. The board of directors may also be granted the
    power to adopt, amend or repeal the bylaws if the certificate of
    incorporation so provides.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <I>GameStop</I></TD>
    <TD></TD>
    <TD valign="top">
    The certificate of incorporation of GameStop provides that the
    board of directors is expressly authorized to adopt, amend or
    repeal the bylaws; provided, however, that the bylaws adopted by
    the board of directors may be amended or repealed by the board
    of directors or by the vote of stockholders having at least 80%
    of the voting power of the then-outstanding stock entitled to
    vote generally in the election of directors. In addition, the
    bylaws provide that any amendment or supplement to the bylaws
    proposed to be acted upon at any meeting must have been
    described or referred to in the notice of the meeting or an
    announcement with respect to the meeting must have been made at
    the last previous board of directors meeting, and no amendment
    or supplement adopted by the board of directors may vary or
    conflict with any amendment or supplement adopted by the
    stockholders. The bylaws also provide that, notwithstanding the
    preceding sentence, the affirmative vote of holders of at least
    80% of the voting power of the then outstanding shares of
    capital stock entitled to vote generally in the election of
    directors, voting together as a single class, is required to
    amend or repeal, or adopt any provisions inconsistent with
    certain bylaw provisions.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">149

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<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

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    <TD width="28%"></TD>
    <TD width="1%"></TD>
    <TD width="71%"></TD>
</TR>

<TR>
    <TD valign="top">
    <I>Holdco</I></TD>
    <TD></TD>
    <TD valign="top">
    The bylaws of Holdco may be adopted, amended or repealed by a
    majority of the entire board of directors. The stockholders also
    have the power to adopt, amend or repeal the bylaws of Holdco;
    provided, however, that in addition to any vote of the holders
    of any class or series of stock of the corporation required by
    law or by the certificate of incorporation, the affirmative vote
    of the holders of at least 80% of the voting power of all of the
    then outstanding shares of the capital stock of the corporation
    entitled to vote generally in the election of directors, voting
    together as a single class, is required to adopt, amend or
    repeal any provision of the bylaws.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <I>EB</I></TD>
    <TD></TD>
    <TD valign="top">
    The certificate of incorporation of EB provides that the board
    of directors may make, adopt, alter, amend, change or repeal the
    bylaws of EB by a majority vote of the entire board of
    directors, subject to any bylaw provision requiring a higher
    vote of the board. Stockholders are prohibited from making,
    adopting, altering, amending, changing or repealing the bylaws
    of the corporation except upon the affirmative vote of at least
    66.67% of the votes entitled to be cast by the holders of all
    outstanding shares entitled to vote generally in the election of
    directors, voting together as a single class.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt;">
<A name='239'></A>
</DIV>

<!-- link1 "Action by Written Consent of Stockholders" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Action by Written Consent of Stockholders</B>
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt;">

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    <TD width="1%"></TD>
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</TR>

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    <TD valign="top">
    <I>Delaware</I></TD>
    <TD></TD>
    <TD valign="top">
    Unless otherwise provided in the certificate of incorporation,
    any action required or permitted to be taken at a meeting of
    stockholders, may be taken without a meeting, without prior
    notice and without a vote, if a written consent or consents,
    setting forth the action so taken is signed by the holders of
    outstanding stock having not less than the minimum number of
    votes that would be necessary to authorize or take such action
    at a meeting at which all shares entitled to vote upon such
    action were present and voted.</TD>
</TR>

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    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <I>GameStop</I></TD>
    <TD></TD>
    <TD valign="top">
    The certificate of incorporation prohibits stockholder action by
    written consent.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <I>Holdco</I></TD>
    <TD></TD>
    <TD valign="top">
    Same as GameStop.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <I>EB</I></TD>
    <TD></TD>
    <TD valign="top">
    Same as GameStop.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt;">
<A name='240'></A>
</DIV>

<!-- link1 "Notice of Stockholders Meeting" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Notice of Stockholders Meeting</B>
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt;">

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    <TD valign="top">
    <I>Delaware</I></TD>
    <TD></TD>
    <TD valign="top">
    Written notice of stockholders meetings must be sent to all
    stockholders of record entitled to vote at the meeting not less
    than 10 nor more than 60&nbsp;days before the date of the
    meeting, except with regard to a meeting where the stockholders
    are asked to vote upon certain business combinations or a sale
    of all or substantially all of the corporation&#146;s assets, in
    which case notice shall be delivered not less than 20 nor more
    than 60&nbsp;days before the date of the meeting.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <I>GameStop</I></TD>
    <TD></TD>
    <TD valign="top">
    The bylaws of GameStop provide that written notice of the place,
    date, time and purposes of a meeting of stockholders must be
    given not less than 10 nor more than 60&nbsp;days before the date</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">150

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</TD>
    <TD></TD>
    <TD valign="top">
    of the meeting to each stockholder of record entitled to vote at
    the meeting.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <I>Holdco</I></TD>
    <TD></TD>
    <TD valign="top">
    Same as GameStop.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <I>EB</I></TD>
    <TD></TD>
    <TD valign="top">
    The bylaws of EB provide that written notice of the time, place
    and date of a meeting must be given to each stockholder entitled
    to vote at such meeting of stockholders not less than 10 nor
    more than 60&nbsp;days before the date of the meeting.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt;">
<A name='241'></A>
</DIV>

<!-- link1 "Ability to Call Special Meetings of Stockholders" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Ability to Call Special Meetings of Stockholders</B>
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt;">

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</TR>

<TR>
    <TD valign="top">
    <I>Delaware</I></TD>
    <TD></TD>
    <TD valign="top">
    Special meetings of stockholders may be called by the board of
    directors or by any person or persons authorized by the
    certificate of incorporation or the bylaws. If there is a
    failure to hold an annual meeting or to take action by written
    consent to elect directors in lieu of an annual meeting for a
    period of 30&nbsp;days after the date designated for the annual
    meeting of stockholders, or, if no date has been designated, for
    a period of 13&nbsp;months after the latest to occur of the
    organization of the corporation, its last annual meeting or the
    last action by written consent to elect directors in lieu of an
    annual meeting, the Delaware Court of Chancery may summarily
    order a meeting to be held upon the application of any
    stockholder or director.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <I>GameStop</I></TD>
    <TD></TD>
    <TD valign="top">
    The certificate of incorporation and the bylaws of GameStop
    provide that special meetings of stockholders may be called only
    by a majority of the total authorized number of directors or by
    the Chairman of the board and not by stockholders.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <I>Holdco</I></TD>
    <TD></TD>
    <TD valign="top">
    The certificate of incorporation of Holdco provides that special
    meetings of the stockholders may only be called by a majority of
    the total authorized number of directors or by the Chairman of
    the board. The bylaws of Holdco provide that the Chief Executive
    Officer is also authorized to call special meetings.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <I>EB</I></TD>
    <TD></TD>
    <TD valign="top">
    The bylaws of EB provide that special meetings of the
    stockholders, for any purpose or purposes, may only be called by
    the Chairman of the board of directors, the Chief Executive
    Officer, the President or a majority of the entire board of
    directors.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt;">
<A name='242'></A>
</DIV>

<!-- link1 "Notice of Stockholder Action" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Notice of Stockholder Action</B>
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt;">

<TR>
    <TD width="28%"></TD>
    <TD width="1%"></TD>
    <TD width="71%"></TD>
</TR>

<TR>
    <TD valign="top">
    <I>GameStop</I></TD>
    <TD></TD>
    <TD valign="top">
    Under GameStop&#146;s bylaws, in order for a stockholder to
    nominate candidates for election to GameStop&#146;s board of
    directors at any annual meeting of stockholders, timely written
    notice must be given to the Secretary of GameStop. Similarly, in
    order for a stockholder to propose business to be brought before
    any meeting, timely written notice must be given to the
    Secretary of GameStop.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    Under GameStop&#146;s bylaws, to be timely, notice in writing of
    stockholder nominations or proposals to be made at annual
    stockholders meetings must be delivered to or mailed and
    received at the principal executive offices of GameStop not less
    than 30&nbsp;days or more than 60&nbsp;days prior to the annual
    meeting;</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">151

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    <TD width="28%"></TD>
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</TD>
    <TD></TD>
    <TD valign="top">
    provided, however, in the event that less than 40&nbsp;days
    notice or prior public disclosure of the date of the annual
    meeting is given to stockholders, then such notice by a
    stockholder must be received no later than the close of business
    on the tenth day following the day on which notice of the date
    of the annual meeting was mailed or such public disclosure was
    made.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    A stockholder&#146;s notice to GameStop for the proposal of
    business to be brought before an annual meeting must set forth
    all of the following with respect to each matter the stockholder
    proposes to bring before the annual meeting:</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    &#149;&nbsp;the name and address of the stockholder as they
    appear on GameStop&#146;s books;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    &#149;&nbsp;a brief description of the business to be brought
    before the meeting and the reasons for conducting such business
    at the meeting;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    &#149;&nbsp;the class and number of shares of GameStop that are
    beneficially owned by the stockholder;&nbsp;and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    &#149;&nbsp;any material interest of the stockholder in such
    business.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    A stockholder&#146;s notice to GameStop for the nomination of
    candidates for election of directors must set forth all of the
    following:</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    &#149;&nbsp;the name and address of the stockholder as they
    appear on GameStop&#146;s books;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    &#149;&nbsp;the class and number of shares of GameStop that are
    beneficially owned by the stockholder;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    &#149;&nbsp;all information relating to each nominee that must
    be disclosed in proxy solicitations for election of directors,
    or is otherwise required, in each case pursuant to
    Regulation&nbsp;14A under the Exchange Act;&nbsp;and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    &#149;&nbsp;written consent of each nominee to being a nominee
    and serving as a director if elected.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <I>Holdco</I></TD>
    <TD></TD>
    <TD valign="top">
    Same as GameStop.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <I>EB</I></TD>
    <TD></TD>
    <TD valign="top">
    Under the bylaws of EB, in order for a stockholder to nominate
    candidates for election to the board of directors at an annual
    meeting, timely written notice must be given to the Secretary of
    EB. Similarly, in order for a stockholder to propose business to
    be brought before any meeting, timely written notice must be
    given to the Secretary of EB.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    Under the bylaws of EB, to be timely, notice in writing of
    stockholder nominations or proposals to be made at annual
    stockholders meetings must be delivered to or mailed and
    received at the principal executive offices of EB not less than
    60&nbsp;days nor more than 90&nbsp;days prior to the meeting;
    provided, however, that if less than 70&nbsp;days notice or
    prior public disclosure of the date of the annual meeting is
    given or made to stockholders, the notice by the stockholder to
    be timely, must be</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">152

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<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt;">

<TR>
    <TD width="28%"></TD>
    <TD width="1%"></TD>
    <TD width="71%"></TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    received no later than the close of business on the
    10<SUP style="font-size: 85%; vertical-align: text-top">th</SUP>
    day following the day on which such notice of the annual meeting
    was mailed or such public disclosure was made.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    A stockholder&#146;s notice to EB for the proposal of business
    to be brought before an annual meeting must set forth all of the
    following as to each matter the stockholder proposes to bring
    before the annual meeting:</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    &#149;&nbsp;the name and address of the stockholder;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    &#149;&nbsp;the class, series and number of shares of EB that
    are owned beneficially by such stockholder;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    &#149;&nbsp;a brief description of the business desired to be
    brought before the meeting;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    &#149;&nbsp;the reasons for conducting such business at the
    meeting;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    &#149;&nbsp;any material interest of the stockholder in such
    business;&nbsp;and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    &#149;&nbsp;the beneficial owner, if any, on whose behalf the
    nomination or proposal is made.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    A stockholder&#146;s notice to EB for the nomination of
    candidates for election of directors must set forth all of the
    following as to each person the stockholder proposes to nominate
    for election or reelection as a director:</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    &#149;&nbsp;the name, age, business address and residence
    address of the person;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    &#149;&nbsp;the principal occupation or employment of the person;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    &#149;&nbsp;the class and number of shares of EB that are
    beneficially owned by such person;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    &#149;&nbsp;any other information relating to the person
    nominated required to be disclosed in solicitation of proxies
    for election of directors pursuant to the Rules and Regulations
    of the SEC under Section&nbsp;14 of the Exchange Act;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    &#149;&nbsp;the nominee&#146;s written consent to being named as
    a nominee and to serving as a director if elected;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    &#149;&nbsp;the name and record address of the stockholder
    giving the notice;&nbsp;and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    &#149;&nbsp;the class and number of shares of capital stock of
    EB that are beneficially owned by the stockholder giving the
    notice.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt;">
<A name='243'></A>
</DIV>

<!-- link1 "Limitation of Personal Liability of Directors and Officers" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Limitation of Personal Liability of Directors and Officers</B>
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt;">

<TR>
    <TD width="28%"></TD>
    <TD width="1%"></TD>
    <TD width="71%"></TD>
</TR>

<TR>
    <TD valign="top">
    <I>Delaware</I></TD>
    <TD></TD>
    <TD valign="top">
    A corporation may include in its certificate of incorporation a
    provision eliminating or limiting the personal liability of a
    director to the corporation or its stockholders for monetary</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">153

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<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt;">

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    <TD width="28%"></TD>
    <TD width="1%"></TD>
    <TD width="71%"></TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    damages for breach of fiduciary duty as a director. However, the
    provision may not eliminate or limit the liability of a director
    for:</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    &#149;&nbsp;breach of the duty of loyalty;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    &#149;&nbsp;acts or omissions not in good faith or that involve
    intentional misconduct or a knowing violation of law;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    &#149;&nbsp;unlawful payments of dividends, certain stock
    repurchases or redemptions;&nbsp;or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    &#149;&nbsp;any transaction from which the director derived an
    improper personal benefit.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <I>GameStop</I></TD>
    <TD></TD>
    <TD valign="top">
    The certificate of incorporation of GameStop contains a
    provision limiting personal liability of directors to the
    corporation or its stockholders for monetary damages for breach
    of fiduciary duty as a director, as described above.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <I>Holdco</I></TD>
    <TD></TD>
    <TD valign="top">
    Same as GameStop.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <I>EB</I></TD>
    <TD></TD>
    <TD valign="top">
    Same as GameStop.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt;">
<A name='244'></A>
</DIV>

<!-- link1 "Indemnification of Directors and Officers" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Indemnification of Directors and Officers</B>
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt;">

<TR>
    <TD width="28%"></TD>
    <TD width="1%"></TD>
    <TD width="71%"></TD>
</TR>

<TR>
    <TD valign="top">
    <I>Delaware</I></TD>
    <TD></TD>
    <TD valign="top">
    Delaware corporate law provides that, subject to certain
    limitations in the case of derivative suits brought by a
    corporation&#146;s stockholders in its name, a corporation may
    indemnify any person who was or is a party or is threatened to
    be made a party to any threatened, pending or completed action,
    suit or proceeding by reason of the fact that the person is or
    was a director, officer, employee or agent of the corporation
    (or is or was serving at the request of the corporation in such
    capacity for another corporation, partnership, joint venture,
    trust or other enterprise) against expenses, including
    attorney&#146;s fees, judgments, fines and amounts paid in
    settlement actually and reasonably incurred by the person in
    connection with such action, suit or proceeding if the person:</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    &#149;&nbsp;acted in good faith and in a manner he or she
    reasonably believed to be in or not opposed to the best
    interests of the corporation;&nbsp;and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    &#149;&nbsp;in a criminal action or proceeding, had no
    reasonable cause to believe the person&#146;s conduct was
    unlawful.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    Delaware corporate law also permits indemnification by a
    corporation under similar circumstances for expenses (including
    attorneys&#146; fees) actually and reasonably incurred by such
    persons in connection with the defense or settlement of a
    derivative action or suit, except that no indemnification may be
    made in respect of any claim, issue or matter as to which the
    person is adjudged to be liable to the corporation unless and
    only to the extent that the court in which the action or suit
    was brought determines, upon application, that the person is
    fairly and reasonably entitled to indemnity for the expenses
    that the court deems to be proper.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">154

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<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt;">

<TR>
    <TD width="28%"></TD>
    <TD width="1%"></TD>
    <TD width="71%"></TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    To the extent a director, officer, employee or agent is
    successful in the defense of such an action, suit or proceeding
    or in defense of any claim, issue or matter therein, the
    corporation is required to indemnify such person for actual and
    reasonable expenses incurred thereby. Expenses (including
    attorneys&#146; fees) incurred by such persons in defending any
    action, suit or proceeding may be paid in advance of the final
    disposition of such action, suit or proceeding.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <I>GameStop</I></TD>
    <TD></TD>
    <TD valign="top">
    GameStop&#146;s certificate of incorporation authorizes the
    corporation to indemnify all persons to the fullest extent
    permitted by law. The bylaws of GameStop require GameStop to
    indemnify each person who was or is made a party or is
    threatened to be made a party to or is otherwise involved in any
    action, suit or proceeding, by reason of the fact that he or she
    is or was a director or an officer of GameStop or is or was
    serving at the request of GameStop as a director, officer,
    employee or agent of another corporation or of a partnership,
    joint venture, trust or other enterprise, including service with
    respect to an employee benefit plan, against all expense,
    liability and loss (including attorneys&#146; fees, judgments,
    fines, ERISA excise taxes or penalties and amounts paid in
    settlement) reasonably incurred or suffered by such person in
    connection with such action, suit or proceeding. The bylaws
    provide that GameStop will indemnify such a director or officer
    who initiates an action, suit or proceeding only if the action,
    suit or proceeding was authorized by the board of directors of
    GameStop.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    In addition, under GameStop&#146;s bylaws, GameStop must pay, in
    advance of the disposition of any action, suit or proceeding,
    any expenses incurred by such indemnitee; provided, however,
    that if required by the DGCL, an advancement of expenses
    incurred by an indemnitee in his or her capacity as a director
    or officer shall be made only upon delivery to GameStop of an
    undertaking to repay such amounts if it is ultimately judicially
    determined that such person is not entitled to be indemnified
    for such expenses. The indemnification rights conferred by
    GameStop are not exclusive of any other right to which persons
    seeking indemnification may be entitled under any statute,
    GameStop&#146;s certificate of incorporation or bylaws, any
    agreement, vote of stockholders or disinterested directors or
    otherwise.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <I>Holdco</I></TD>
    <TD></TD>
    <TD valign="top">
    Same as GameStop.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <I>EB</I></TD>
    <TD></TD>
    <TD valign="top">
    The certificate of incorporation of EB requires EB to indemnify
    any person who was or is a party or is threatened to be made a
    party to any threatened, pending or completed action, suit or
    proceeding whether civil, criminal, administrative or
    investigative (other than an action by or in the right of EB),
    by reason of the fact that the person is or was a director or
    officer of EB, or is or was serving at the request of EB as a
    director or officer of another corporation, partnership, joint
    venture, trust, employee benefit plan or other enterprise in any
    capacity who is made, or threatened to be made, a party to any
    action, suit or proceeding whether civil, criminal,
    administrative or investigative against all</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">155

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<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt;">

<TR>
    <TD width="28%"></TD>
    <TD width="1%"></TD>
    <TD width="71%"></TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    judgments, fines, amounts paid in settlement and all expenses,
    including attorney&#146;s fees, actually and reasonably incurred
    in connection with such action, suit or proceeding if he or she
    acted in good faith and in a manner he reasonably believed to be
    in or not opposed to the best interests of EB, and, with respect
    to any criminal action or proceeding he or she reasonably
    believed to be in or not opposed to the best interests of EB,
    and, with respect to any criminal action or proceeding, had no
    reason to believe his or her conduct was unlawful. The
    indemnification rights conferred by EB are not exclusive of any
    other right to which persons seeking indemnification may be
    entitled to under any bylaw, agreement, contract, vote of
    stockholders or disinterested directors or pursuant to the
    direction of any court of competent jurisdiction or otherwise.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    The certificate of incorporation of EB authorizes, but does not
    require, EB to pay the expenses incurred by a director or
    officer in advance of the final disposition of the action, suit
    or proceeding upon receipt of an undertaking by or on behalf of
    the director or officer to repay such amount if it is ultimately
    determined that he or she is not entitled to be indemnified.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt;">
<A name='245'></A>
</DIV>

<!-- link1 "Preemptive Rights of Stockholders" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Preemptive Rights of Stockholders</B>
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt;">

<TR>
    <TD width="28%"></TD>
    <TD width="1%"></TD>
    <TD width="71%"></TD>
</TR>

<TR>
    <TD valign="top">
    <I>Delaware</I></TD>
    <TD></TD>
    <TD valign="top">
    Delaware corporate law provides that no stockholder has any
    preemptive rights to purchase additional stock or any security
    convertible into stock of a corporation unless the
    corporation&#146;s certificate of incorporation expressly grants
    those rights.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <I>GameStop</I></TD>
    <TD></TD>
    <TD valign="top">
    GameStop&#146;s certificate of incorporation states that
    stockholders do not have preemptive rights.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <I>Holdco</I></TD>
    <TD></TD>
    <TD valign="top">
    Same as GameStop.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <I>EB</I></TD>
    <TD></TD>
    <TD valign="top">
    EB&#146;s certificate of incorporation does not grant preemptive
    rights.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt;">
<A name='246'></A>
</DIV>

<!-- link1 "Dividends" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Dividends</B>
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt;">

<TR>
    <TD width="28%"></TD>
    <TD width="1%"></TD>
    <TD width="71%"></TD>
</TR>

<TR>
    <TD valign="top">
    <I>Delaware</I></TD>
    <TD></TD>
    <TD valign="top">
    The directors of every Delaware corporation, subject to any
    restrictions contained in its certificate of incorporation, may
    declare and pay dividends out of surplus or, if there is no
    surplus, out of net profits for the fiscal year in which the
    dividend is declared and/or the preceding fiscal year. Under
    Delaware law, dividends may not be paid out of net profits if,
    after the payment of the dividend, capital is less than the
    capital represented by the issued and outstanding stock of all
    classes having a preference upon the distribution of assets.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <I>GameStop</I></TD>
    <TD></TD>
    <TD valign="top">
    GameStop&#146;s certificate of incorporation provides that the
    holders of the Class&nbsp;A common stock and the Class&nbsp;B
    common stock shall share equally on a per share basis in all
    dividends or other distributions. In the case of dividends or
    other distributions payable in common stock, including
    distributions pursuant to stock splits or divisions of common
    stock of GameStop, only shares of Class&nbsp;A common stock
    shall be paid or distributed with respect to Class&nbsp;A common
    stock and only shares of Class&nbsp;B</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">156

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    common stock shall be paid or distributed with respect to
    Class&nbsp;B common stock. The number of shares of Class&nbsp;A
    common stock and Class&nbsp;B common stock so distributed on
    each share shall be equal in number.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <I>Holdco</I></TD>
    <TD></TD>
    <TD valign="top">
    Same as GameStop.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <I>EB</I></TD>
    <TD></TD>
    <TD valign="top">
    EB&#146;s certificate of incorporation is silent with respect to
    dividends.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt;">
<A name='247'></A>
</DIV>

<!-- link1 "Inspection of Books and Records and Stockholder List" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Inspection of Books and Records and Stockholder List</B>
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt;">

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    <I>Delaware</I></TD>
    <TD></TD>
    <TD valign="top">
    Delaware law permits stockholders to inspect the stock ledger
    and the other books and records of a corporation for a purpose
    reasonably related to their interest as stockholders upon
    compliance with the statutory procedural requirements. Delaware
    law also requires corporations to prepare, at least 10&nbsp;days
    before every stockholders meeting, a list of stockholders
    entitled to vote at the meeting. The list must be open to the
    examination of any stockholder for any purpose germane to the
    meeting at the principal place of business of the corporation
    during ordinary business hours. The list must also be produced
    and kept at the time and place of the meeting during the entire
    meeting.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <I>GameStop</I></TD>
    <TD></TD>
    <TD valign="top">
    The bylaws of GameStop provide that the stockholder list will be
    available at a place within the city where the meeting is to be
    held, which place must be specified in the notice of the
    meeting, or if not so specified, at the place where the meeting
    is to be held.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <I>Holdco</I></TD>
    <TD></TD>
    <TD valign="top">
    The bylaws of Holdco provide that a complete list of
    stockholders entitled to vote at any meeting of stockholders,
    arranged in alphabetical order for each class of stock and
    showing the address of each such stockholder and the number of
    shares registered in his or her name, shall be open to the
    examination of any such stockholder, for any purpose germane to
    the meeting, at the principal place of business of Holdco.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <I>EB</I></TD>
    <TD></TD>
    <TD valign="top">
    Same as GameStop.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt;">
<A name='248'></A>
</DIV>

<!-- link1 "Anti-Takeover Statute: Section 203" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Anti-Takeover Statute: Section&nbsp;203</B>
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt;">

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    <I>Delaware</I></TD>
    <TD></TD>
    <TD valign="top">
    Section&nbsp;203 of the DGCL (Section&nbsp;203) generally
    prevents corporations from engaging in a &#147;business
    combination&#148; with any &#147;interested stockholder&#148;
    for three years following the date that the stockholder became
    an interested stockholder, unless that business combination has
    been approved in one of a number of specific ways. For purposes
    of Section&nbsp;203, &#147;business combination,&#148; includes,
    among other things, mergers, sales and leases of assets,
    issuances of securities and similar transactions by a
    corporation or a subsidiary with an interested stockholder. In
    general, Section&nbsp;203 defines &#147;interested
    stockholder&#148; as any entity or person beneficially owning
    15% or more of a corporation&#146;s outstanding voting stock, or
    any entity or person affiliated with or controlling or
    controlled by that entity or person.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">157

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    These restrictions on interested stockholders do not apply under
    some circumstances, including if the corporation&#146;s original
    certificate of incorporation contains a provision expressly
    electing not to be governed by the Delaware statute regulating
    business combinations, or if the corporation, by action of its
    stockholders, adopts an amendment to its certificate of
    incorporation or bylaws expressly electing not to be governed by
    these provisions of Delaware corporate law (and such amendment
    is duly approved by the stockholders entitled to vote thereon).</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <I>GameStop</I></TD>
    <TD></TD>
    <TD valign="top">
    GameStop has opted out of Section&nbsp;203 in its certificate of
    incorporation.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <I>Holdco</I></TD>
    <TD></TD>
    <TD valign="top">
    Same as GameStop.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <I>EB</I></TD>
    <TD></TD>
    <TD valign="top">
    EB is governed by Section&nbsp;203.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt;">
<A name='249'></A>
</DIV>

<!-- link1 "Transactions Involving Officers or Directors" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Transactions Involving Officers or Directors</B>
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

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    <I>Delaware</I></TD>
    <TD></TD>
    <TD valign="top">
    A corporation may lend money to, or guarantee any obligation
    incurred by, its officers or directors if, in the judgment of
    the board of directors, the loan or guarantee may reasonably be
    expected to benefit the corporation. Any other contract or
    transaction between the corporation and one or more of its
    directors or officers is neither void nor voidable solely
    because the interested director or officer was present,
    participates or votes at the board or committee meeting that
    authorizes the contract or transaction, if either:</TD>
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    <TD></TD>
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    &#149;&nbsp;the director&#146;s or officer&#146;s interest is
    made known to the disinterested directors or the stockholders of
    the corporation, who thereafter approve the transaction in good
    faith;&nbsp;or</TD>
</TR>

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    <TD style="font-size: 6pt">&nbsp;</TD>
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</TD>
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    &#149;&nbsp;the contract or transaction is fair to the
    corporation as of the time it is approved or ratified by either
    the board of directors, a committee thereof, or the stockholders.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <I>GameStop</I></TD>
    <TD></TD>
    <TD valign="top">
    GameStop&#146;s certificate of incorporation and bylaws are
    silent with respect to transactions involving officers and
    directors.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <I>Holdco</I></TD>
    <TD></TD>
    <TD valign="top">
    Same as GameStop.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <I>EB</I></TD>
    <TD></TD>
    <TD valign="top">
    EB&#146;s bylaws contain a provision that tracks the language of
    the DGCL on this matter.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt;">
<A name='250'></A>
</DIV>

<!-- link1 "Mergers, Acquisitions, Share Purchases and Certain Other Transactions" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Mergers, Acquisitions, Share Purchases and Certain Other
Transactions</B>
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

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    <TD valign="top">
    <I>Delaware</I></TD>
    <TD></TD>
    <TD valign="top">
    Under Delaware corporate law, a merger, consolidation or sale of
    all or substantially all of a corporation&#146;s assets must be
    approved by the board of directors and by a majority of the
    outstanding stock of the corporation entitled to vote thereon.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <I>GameStop</I></TD>
    <TD></TD>
    <TD valign="top">
    According to GameStop&#146;s certificate of incorporation, in
    case of any consolidation, merger, combination or other
    transaction in which shares of common stock are exchanged for or
    changed into other stock or securities, cash and/or any other
    property, each holder of a share of Class&nbsp;A common stock is
    entitled to receive the same kind and amount of shares of stock
    and other securities and property</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">158

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    <TD></TD>
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    (including cash) receivable upon such consolidation, merger,
    combination or other transaction by a holder of a share of
    Class&nbsp;B common stock and each holder of a share of
    Class&nbsp;B common stock is entitled to receive the same kind
    and amount of shares of stock and other securities and property
    (including cash) receivable upon such consolidation, merger,
    combination or other transaction by a holder of a share of
    Class&nbsp;A common stock. In the event that the holders of
    Class&nbsp;A common stock (or of Class&nbsp;B common stock) are
    granted rights to elect to receive one of two or more
    alternative forms of consideration, the foregoing provision will
    be satisfied if holders of Class&nbsp;A common stock and holders
    of Class&nbsp;B common stock are granted substantially identical
    election rights. Notwithstanding the foregoing, in the event of
    any of the foregoing transactions, the holders of Class&nbsp;B
    common stock may receive securities that differ as to voting
    rights and powers on a per share basis from the securities
    received by the holders of Class&nbsp;A common stock, provided,
    however, that such difference shall not exceed ten to one,
    respectively. The provisions set forth above shall not apply in
    the event of any internal restructuring of GameStop that does
    not change the economic terms, voting rights or other provisions
    of such Class&nbsp;A common stock and Class&nbsp;B common stock
    in effect immediately prior to the internal restructuring.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <I>Holdco</I></TD>
    <TD></TD>
    <TD valign="top">
    Same as GameStop.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <I>EB</I></TD>
    <TD></TD>
    <TD valign="top">
    The certificate of incorporation and bylaws of EB are silent
    with respect to mergers.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt;">
<A name='251'></A>
</DIV>

<!-- link1 "Office of the Chairman" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Office of the Chairman</B>
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt;">

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    <I>Delaware</I></TD>
    <TD></TD>
    <TD valign="top">
    Delaware corporate law does not require or prohibit the creation
    of an Office of the Chairman for a Delaware corporation.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <I>GameStop</I></TD>
    <TD></TD>
    <TD valign="top">
    GameStop&#146;s bylaws provide for a Chairman of the board, who
    is the chief executive officer and a director, and who presides
    at the meetings of stockholders and directors. The Chairman of
    the board has general and active responsibility for the
    management of the business and is responsible for implementing
    all orders and resolutions of the board of directors.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <I>Holdco</I></TD>
    <TD></TD>
    <TD valign="top">
    Holdco&#146;s bylaws provide for a Chairman of the board of
    directors. The Chairman of the board is responsible for
    implementing all orders and resolutions of the board. The
    Chairman must be a director and must preside at all meetings of
    stockholders and directors at which he or she is present and
    will have such other powers and duties as the board of directors
    designates.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <I>EB</I></TD>
    <TD></TD>
    <TD valign="top">
    EB&#146;s bylaws provide for a Chairman of the board of
    directors. The Chairman of the board must be a director and must
    exercise and perform such duties and have such powers as
    prescribed by the board of directors or the bylaws.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt;">
<A name='252'></A>
</DIV>

<!-- link1 "LEGAL MATTERS" -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>LEGAL MATTERS</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Bryan Cave LLP, New York, New York, counsel for GameStop, has
provided an opinion for Holdco regarding the validity of the
shares of Holdco offered by this joint proxy
statement-prospectus.
</DIV>

<P align="center" style="font-size: 10pt;">159

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<DIV align="left" style="font-size: 10pt;">
<A name='253'></A>
</DIV>

<!-- link1 "EXPERTS" -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>EXPERTS</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>GameStop.</I> The audited consolidated statements and
schedule of GameStop incorporated in this joint proxy
statement-prospectus by reference to GameStop&#146;s Annual
Report on Form&nbsp;10-K, as amended, as of January&nbsp;29,
2005 and January&nbsp;31, 2004, and for the 52-week periods
ended January&nbsp;29, 2005, January&nbsp;31, 2004 and
February&nbsp;1, 2003, and management&#146;s assessment of the
effectiveness of internal control over financial reporting as of
January&nbsp;29, 2005, have been incorporated in reliance on the
reports of BDO Seidman, LLP, an independent registered public
accounting firm, given on the authority of that firm as experts
in accounting and auditing.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>EB.</I> The consolidated financial statements and schedule of
EB as of January&nbsp;29, 2005 and January&nbsp;31, 2004, and
for each of the years in the three-year period ended
January&nbsp;29, 2005, and management&#146;s assessment of the
effectiveness of internal control over financial reporting as of
January&nbsp;29, 2005 have been incorporated by reference herein
in reliance upon the reports of KPMG LLP, independent registered
public accounting firm, incorporated by reference herein, and
upon the authority of said firm as experts in accounting and
auditing.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='254'></A>
</DIV>

<!-- link1 "OTHER MATTERS WITH RESPECT TO GAMESTOP&#146;S ANNUAL MEETING" -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>OTHER MATTERS WITH RESPECT TO GAMESTOP&#146;S ANNUAL
MEETING</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
GameStop does not intend to present any other business for
action at the GameStop annual meeting and does not know of any
other business intended to be presented by others. If any
matters other than the matters described in the Notice of
GameStop Annual Meeting of Stockholders and this joint proxy
statement-prospectus should be presented for GameStop
stockholder action at the GameStop annual meeting, it is the
intention of the persons designated in the proxy to vote thereon
according to their best judgment.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Proxy Solicitation.</I> To assist in the solicitation of
proxies, GameStop has retained Georgeson Shareholder
Communications, Inc. Solicitation may be made personally, by
telephone, by telegraph or by mail by officers and employees of
GameStop who will not be additionally compensated therefor.
GameStop may request persons such as brokers, nominees and
fiduciaries holding stock in their names for others, or holding
stock for others who have the right to give voting instructions,
to forward proxy materials to their principals and request
authority for the execution of the proxy. GameStop will
reimburse such persons for their expenses in so doing. GameStop
is bearing its portion of the costs of this solicitation.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Financial and Other Information.</I> GameStop&#146;s Annual
Report for the fiscal year ended January&nbsp;29, 2005, as
amended, including financial statements, is being sent to
GameStop stockholders together with this joint proxy
statement-prospectus.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>GameStop Stockholder Proposals.</I> Proposals of GameStop
stockholders intended to be presented at the GameStop annual
meeting of stockholders to be held in 2006 must be received by
the Secretary, GameStop Corp., 625 Westport Parkway, Grapevine,
Texas 76051, no later than January&nbsp;27, 2006.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In addition, GameStop&#146;s bylaws provide that, in order for a
GameStop stockholder to propose business for consideration at a
GameStop annual meeting of stockholders, such stockholder must
give written notice to the secretary of GameStop not less than
30&nbsp;days nor more than 60&nbsp;days prior to the meeting;
provided, however, that in the event that less than 40&nbsp;days
notice or prior public disclosure of the date of the meeting is
given to GameStop stockholders, notice by the GameStop
stockholder must be given not later than the close of business
on the tenth day following the day on which such notice of the
date of the meeting was mailed or such public disclosure was
made. Such notice must contain the proposing GameStop
stockholder&#146;s record name and address, and the class and
number of shares of GameStop which are beneficially owned by
such stockholder. Such notice must also contain (i)&nbsp;a brief
description of the business desired to be brought before the
GameStop annual meeting and the reasons for conducting such
business at the GameStop annual meeting, and (ii)&nbsp;any
material interest of the proposing GameStop stockholder in such
business.
</DIV>

<P align="center" style="font-size: 10pt;">160

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<DIV align="left" style="font-size: 10pt;">
<A name='255'></A>
</DIV>

<!-- link1 "OTHER MATTERS WITH RESPECT TO EB&#146;S ANNUAL MEETING" -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>OTHER MATTERS WITH RESPECT TO EB&#146;S ANNUAL MEETING</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Any EB stockholder proposal intended to be presented at
EB&#146;s 2006 annual meeting of stockholders must conform to
the applicable rules of the Securities and Exchange Commission
concerning the submission and content of proposals. The proposal
must be received in writing by EB, at its principal executive
offices at 931&nbsp;South&nbsp;Matlack Street, West Chester,
Pennsylvania 19382, by June&nbsp;9, 2006, for inclusion in its
proxy, notice of meeting and proxy statement relating to the EB
2006 annual meeting of stockholders. The proposal should be sent
to the attention of EB&#146;s Secretary, James A. Smith.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Under EB&#146;s bylaws, an EB stockholder proposal intended to
be included in the proxy material for the EB 2006 annual meeting
must generally be received by EB not less than 60 nor more than
90&nbsp;days prior to the meeting; provided, however, that in
the event that less than 70&nbsp;days notice or prior public
disclosure of the date of the annual meeting is given or made to
EB stockholders, notice by an EB stockholder, to be timely, must
be received by EB no later than the close of business on the
tenth day following the day on which notice of the date of the
annual meeting was mailed or public disclosure was made,
whichever first occurs. Any such proposal must also comply with
the other provisions contained in EB&#146;s bylaws relating to
EB stockholder proposals.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Notice of a proposed item of business must include:
</DIV>

<DIV style="margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    a brief description of the business desired to be brought before
    the EB annual meeting and the reasons for conducting this
    business at the EB annual meeting;</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    any material interests of the EB stockholder in this business;</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the EB stockholder&#146;s name and address as it appears in
    EB&#146;s records;&nbsp;and</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the number of shares of common stock beneficially owned by the
    EB stockholder.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Any director nomination by an EB stockholder must include the
following information about the nominee:
</DIV>

<DIV style="margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    name;</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    age;</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    business and residence address;</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    principal occupation or employment;</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the number of shares of common stock beneficially owned by the
    nominee;</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    the information that would be required under SEC rules in a
    proxy statement soliciting proxies for the election of
    directors;&nbsp;and</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;&nbsp;</TD>
    <TD align="left">
    a signed consent of the nominee to serve as a director of EB, if
    elected.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt;">
<A name='256'></A>
</DIV>

<!-- link1 "Annual Report On Form 10-K" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Annual Report On Form&nbsp;10-K</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
EB will furnish without charge to any EB stockholder, upon
written request, a copy of EB&#146;s Form&nbsp;10-K, as amended,
for the fiscal year ended January&nbsp;29, 2005. Requests for
this report should be addressed to Investor Relations,
Electronics Boutique Holdings Corp., 931 South Matlack Street,
West Chester, Pennsylvania 19382. You may also obtain a copy of
EB&#146;s Form&nbsp;10-K, as amended, from EB&#146;s website at
www.ebholdings.com or from the SEC&#146;s website at www.sec.gov.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='257'></A>
</DIV>

<!-- link1 "Other Matters" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Other Matters</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The EB board of directors knows of no business that will be
presented for consideration at the EB annual meeting other than
that shown above. However, if any business is properly brought
before the EB annual meeting, the persons named in the enclosed
proxy or their substitutes will vote the proxy in respect of any
such business in accordance with their best judgment pursuant to
the discretionary authority conferred thereby.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
For additional information on EB, see &#147;Where You Can Find
More Information&#148; on page&nbsp;162.
</DIV>


<P align="center" style="font-size: 10pt;">161

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV align="left" style="font-size: 10pt;">
<A name='258'></A>
</DIV>

<!-- link1 "WHERE YOU CAN FIND MORE INFORMATION" -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>WHERE YOU CAN FIND MORE INFORMATION</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
GameStop and EB file annual, quarterly and current reports,
proxy statements and other information with the SEC. You may
read and copy any document they and Holdco file at the
SEC&#146;s public reference room at 450&nbsp;Fifth Street, N.W.,
Washington,&nbsp;D.C. 20549. Please call the SEC at
1-800-SEC-0330 for further information on the public reference
room. SEC filings are also available to the public at the
SEC&#146;s website at http://www.sec.gov. Copies of documents
filed by GameStop, EB and Holdco with the SEC are also available
at the offices of The New York Stock Exchange, 20&nbsp;Broad
Street, New York, New York 10005 (for GameStop and Holdco) and
The NASDAQ Stock Market, Inc., 1 Liberty Plaza, New York, New
York 10006 (for EB).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Holdco has filed a registration statement on Form&nbsp;S-4 under
the Securities Act of 1933, as amended, with the SEC with
respect to Holdco common stock to be issued in the mergers. This
joint proxy statement-prospectus constitutes the prospectus of
Holdco filed as part of the registration statement. This joint
proxy statement-prospectus does not contain all of the
information set forth in the registration statement because
certain parts of the registration statement are omitted in
accordance with the rules and regulations of the SEC. The
registration statement and its exhibits are available for
inspection and copying as set forth above.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The SEC allows us to &#147;incorporate by reference&#148; into
this joint proxy statement-prospectus documents filed with the
SEC by GameStop and EB. This means that we can disclose
important information to you by referring you to those
documents. The information incorporated by reference is
considered to be a part of this joint proxy
statement-prospectus, and later information that we file with
the SEC will update and supersede that information. We
incorporate by reference the documents listed below and any
documents filed by GameStop or EB under Section&nbsp;13(a),
13(c), 14 or 15(d) of the Exchange Act, after the date of this
joint proxy statement-prospectus and before the date of our
annual meetings:
</DIV>


<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; margin-top: 6pt; ">

<TR style="font-size: 1pt;">
    <TD width="50%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD align="center" nowrap><B>GameStop Filings (SEC File No. 001-31228):</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap><B>Period or Date Filed</B></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Annual Report on Form&nbsp;10-K</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Year ended January&nbsp;29, 2005, as filed on April&nbsp;11, 2005</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Annual Report on Form&nbsp;10-K/ A</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Year ended January&nbsp;29, 2005, as filed on September&nbsp;2,
    2005</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Quarterly Report on Form&nbsp;10-Q/ A</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Quarter ended April&nbsp;30, 2005, as filed on September&nbsp;2,
    2005</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Current Reports on Form&nbsp;8-K</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Filed on April&nbsp;15, 2005, April&nbsp;18, 2005, May&nbsp;24,
    2005 and June&nbsp;9, 2005</TD>
</TR>

</TABLE>
</CENTER>



<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; margin-top: 12pt; ">

<TR style="font-size: 1pt;">
    <TD width="50%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD align="center" nowrap><B>EB Filings (SEC File No. 000-24603):</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap><B>Period or Date Filed</B></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Annual Report on Form&nbsp;10-K/ A</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Year ended January&nbsp;29, 2005, as filed on September&nbsp;2,
    2005</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Quarterly Report on Form&nbsp;10-Q/ A</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Quarter ended April&nbsp;30, 2005, as filed on September&nbsp;2,
    2005</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Current Reports on Form&nbsp;8-K</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Filed on April&nbsp;18, 2005, May&nbsp;27, 2005, June&nbsp;9,
    2005 and June&nbsp;15, 2005</TD>
</TR>

</TABLE>
</CENTER>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In addition, GameStop and EB also incorporate by reference
additional documents that either company files with the SEC
between the date of this document and the date of the annual
meetings of the GameStop and EB stockholders. These documents
include periodic reports, such as Annual Reports on
Form&nbsp;10-K, Quarterly Reports on Form&nbsp;10-Q, and Current
Reports on Form&nbsp;8-K, as well as proxy statements.
</DIV>

<P align="center" style="font-size: 10pt;">162
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<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If you are a GameStop or EB stockholder, we may have sent you
some of the documents incorporated by reference, but you can
obtain any of them through GameStop or EB, the SEC or the
SEC&#146;s website as described above. Documents incorporated by
reference are available from GameStop or EB without charge,
excluding all exhibits unless we have specifically incorporated
by reference an exhibit in this joint proxy
statement-prospectus. GameStop and EB stockholders may obtain
documents incorporated by reference in this joint proxy
statement-prospectus by requesting them in writing or by
telephone from the appropriate company at the following
addresses:
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; margin-top: 6pt; ">

<TR style="font-size: 1pt;">
    <TD width="14%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="29%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="13%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
</TR>

<TR>
    <TD colspan="3" align="left" valign="top">
    If you are a GameStop stockholder:</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="left" valign="bottom">
    If you are an EB stockholder:</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    By Mail:</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    GameStop Corp.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    By Mail:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    Electronics Boutique Holdings Corp.</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    625 Westport Parkway</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    931 South Matlack Street</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    Grapevine, Texas 76051</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    West Chester, Pennsylvania 19382</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    Attention: Investor Relations</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    Attention: Investor Relations</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    By Telephone:</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    (817) 424-2000</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    By Telephone:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    (610) 430-8100</TD>
</TR>

</TABLE>
</CENTER>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
This joint proxy statement-prospectus does not constitute an
offer to sell, or a solicitation of an offer to purchase, the
securities offered by this joint proxy statement-prospectus, or
the solicitation of a proxy, in any jurisdiction to or from any
person to whom or from whom it is unlawful to make such offer,
solicitation of an offer or proxy solicitation in such
jurisdiction. Neither the delivery of this joint proxy
statement-prospectus nor any distribution of securities pursuant
to this joint proxy statement-prospectus shall, under any
circumstances, create any implication that there has been no
change in the information set forth or incorporated into this
joint proxy statement-prospectus by reference or in our affairs
since the date of this joint proxy statement-prospectus. The
information contained in this joint proxy statement-prospectus
with respect to GameStop was provided by GameStop, and the
information contained in this joint proxy statement-prospectus
with respect to EB was provided by EB.
</DIV>

<P align="center" style="font-size: 10pt;">163

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<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV align="right" style="font-size: 10pt;">
<B>ANNEX&nbsp;A</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>AGREEMENT AND PLAN OF MERGER</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>BY AND AMONG</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>GAMESTOP CORP.</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>GAMESTOP, INC.</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>GSC HOLDINGS CORP.,</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>COWBOY SUBSIDIARY LLC,</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>EAGLE SUBSIDIARY LLC</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>AND</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>ELECTRONICS BOUTIQUE HOLDINGS CORP.</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>DATED AS OF APRIL&nbsp;17, 2005</B>
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>TABLE OF CONTENTS</B>
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; margin-top: 12pt; ">

<TR style="font-size: 1pt;">
    <TD width="3%">&nbsp;</TD>
    <TD width="13%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="72%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Page</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR>
    <TD colspan="4" align="left" valign="top">
    TABLE OF DEFINED TERMS</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-iv</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="8">&nbsp;</TD>
</TR>

<TR>
    <TD colspan="4" align="left" valign="top">
    ARTICLE&nbsp;I THE MERGERS</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-2</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 1.1
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Holdco</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-2</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 1.2
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    The Mergers</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-2</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 1.3
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Effective Time of the Mergers</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-3</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 1.4
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Closing</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-3</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 1.5
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Certificates of Incorporation and Bylaws of the Surviving
    Corporations</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-3</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 1.6
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Officers and Directors of the Surviving Corporations</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-3</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="8">&nbsp;</TD>
</TR>

<TR>
    <TD colspan="4" align="left" valign="top">
    ARTICLE&nbsp;II EFFECT OF THE MERGERS; SURRENDER OF CERTIFICATES
    AND PAYMENT</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-4</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 2.1
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Conversion of Company Securities</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-4</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 2.2
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Conversion of GameStop Securities</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-4</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 2.3
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Exchange of Certificates</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-5</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 2.4
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Certain Adjustments</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-7</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 2.5
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Appraisal Rights</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-8</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 2.6
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Further Assurances</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-8</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 2.7
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Withholding Rights</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-8</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 2.8
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Stock Options and Other Equity Awards</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-8</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 2.9
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    GameStop Stock Options; GameStop Stock Option Plans</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-9</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="8">&nbsp;</TD>
</TR>

<TR>
    <TD colspan="4" align="left" valign="top">
    ARTICLE&nbsp;III REPRESENTATIONS AND WARRANTIES OF THE COMPANY</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-10</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 3.1
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Organization, Standing and Corporate Power</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-10</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 3.2
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Subsidiaries</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-10</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 3.3
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Capital Structure</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-10</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 3.4
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Authority</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-11</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 3.5
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Non-Contravention; Consents and Approvals</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-11</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 3.6
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    SEC Reports and Financial Statements</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-12</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 3.7
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    No Undisclosed Liabilities</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-13</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 3.8
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Information Supplied</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-13</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 3.9
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Absence of Certain Changes or Events</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-13</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 3.10
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Compliance with Applicable Laws</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-13</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 3.11
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Employee Benefit Plans</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-14</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 3.12
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Taxes</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-14</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 3.13
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Material Contracts</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-15</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 3.14
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Properties</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-16</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 3.15
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Intellectual Property</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-16</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 3.16
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Environmental Matters</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-16</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 3.17
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Transactions with Affiliates</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-17</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 3.18
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Voting Requirements</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-17</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 3.19
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    State Takeover Statutes</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-17</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 3.20
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Opinion of Financial Advisors</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-17</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>
</CENTER>

<P align="center" style="font-size: 10pt;">A-i

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; ">

<TR style="font-size: 1pt;">
    <TD width="3%">&nbsp;</TD>
    <TD width="13%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="72%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Page</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 3.21
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Brokers</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-17</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 3.22
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    No Negotiations</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-17</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="8">&nbsp;</TD>
</TR>

<TR>
    <TD colspan="4" align="left" valign="top">
    ARTICLE&nbsp;IV REPRESENTATIONS AND WARRANTIES OF GAMESTOP AND
    HOLDCO</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-18</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 4.1
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Organization, Standing and Corporate Power</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-18</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 4.2
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Subsidiaries</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-18</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 4.3
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Capital Structure</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-18</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 4.4
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Authority</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-19</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 4.5
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Non-Contravention; Consents and Approvals</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-19</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 4.6
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    SEC Reports and Financial Statements</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-20</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 4.7
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    No Undisclosed Liabilities</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-21</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 4.8
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Information Supplied</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-21</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 4.9
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Absence of Certain Changes or Events</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-21</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 4.10
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Compliance with Applicable Laws</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-22</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 4.11
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Taxes</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-22</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 4.12
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Transactions with Affiliates</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-23</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 4.13
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Financing</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-23</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 4.14
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Voting Requirements</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-23</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 4.15
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Opinion of Financial Advisors</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-23</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 4.16
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    State Takeover Statutes and Rights Plan</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-23</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 4.17
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Brokers</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-24</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 4.18
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Holdco; Merger Subs</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-24</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 4.19
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    No Negotiations</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-24</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 4.20
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Separation Agreement</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-24</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="8">&nbsp;</TD>
</TR>

<TR>
    <TD colspan="4" align="left" valign="top">
    ARTICLE&nbsp;V COVENANTS RELATING TO CONDUCT OF BUSINESS</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-24</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 5.1
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Conduct of Business</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-24</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 5.2
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    No Solicitation by the Company</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-28</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 5.3
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    No Solicitation by GameStop</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-30</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 5.4
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Control of Other Party&#146;s Business</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-32</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 5.5
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Transition</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-32</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="8">&nbsp;</TD>
</TR>

<TR>
    <TD colspan="4" align="left" valign="top">
    ARTICLE&nbsp;VI ADDITIONAL AGREEMENTS</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-33</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 6.1
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Preparation of the Form&nbsp;S-4 and the Joint Proxy Statement;
    Stockholders Meetings</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-33</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 6.2
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Letters of the Company&#146;s Accountants</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-34</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 6.3
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Letters of GameStop&#146;s Accountants</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-34</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 6.4
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Access to Information; Confidentiality</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-34</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 6.5
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Reasonable Best Efforts</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-34</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 6.6
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    [Intentionally Omitted]</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-35</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 6.7
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Cooperation</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-35</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 6.8
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    No Takeover Statutes Apply</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-36</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 6.9
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Tax-Free Qualification</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-36</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 6.10
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Indemnification; Directors&#146; and Officers&#146; Insurance</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-36</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 6.11
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Public Announcements</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-37</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>
</CENTER>

<P align="center" style="font-size: 10pt;">A-ii

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; ">

<TR style="font-size: 1pt;">
    <TD width="3%">&nbsp;</TD>
    <TD width="13%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="72%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Page</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 6.12
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Affiliates</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-38</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 6.13
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    NYSE Listing</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-38</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 6.14
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Stockholder Litigation</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-38</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 6.15
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Section&nbsp;16 Matters</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-38</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 6.16
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Employee Benefit Plans</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-38</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 6.17
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Governance</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-39</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 6.18
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Rights Agreement</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-39</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 6.19
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Tax Opinion</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-40</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="8">&nbsp;</TD>
</TR>

<TR>
    <TD colspan="4" align="left" valign="top">
    ARTICLE&nbsp;VII CONDITIONS PRECEDENT</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-40</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 7.1
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Conditions to Each Party&#146;s Obligation to Effect the Mergers</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-40</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 7.2
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Conditions to Obligations of GameStop and Holdco</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-40</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 7.3
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Conditions to Obligations of the Company</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-41</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 7.4
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Frustration of Closing Conditions</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-42</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="8">&nbsp;</TD>
</TR>

<TR>
    <TD colspan="4" align="left" valign="top">
    ARTICLE&nbsp;VIII TERMINATION</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-42</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 8.1
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Termination</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-42</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 8.2
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Effect of Termination</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-43</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 8.3
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Fees and Expenses</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-43</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="8">&nbsp;</TD>
</TR>

<TR>
    <TD colspan="4" align="left" valign="top">
    ARTICLE&nbsp;IX GENERAL PROVISIONS</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-45</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 9.1
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Nonsurvival of Representations and Warranties</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-45</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 9.2
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Notices</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-45</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 9.3
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Interpretation</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-45</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 9.4
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Counterparts</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-47</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 9.5
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Entire Agreement; No Third-Party Beneficiaries</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-47</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 9.6
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Governing Law</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-48</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 9.7
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Assignment</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-48</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 9.8
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Consent to Jurisdiction; Waiver of Jury Trial</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-48</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 9.9
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Specific Enforcement</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-48</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 9.10
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Amendment</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-48</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 9.11
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Extension; Waiver</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-48</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <FONT style="font-variant:SMALL-CAPS">Section 9.12
    </FONT></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Severability</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-49</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>
</CENTER>

<P align="center" style="font-size: 10pt;">A-iii

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>TABLE OF DEFINED TERMS</B>
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; margin-top: 12pt; ">

<TR style="font-size: 1pt;">
    <TD width="91%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Action</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-46</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Adjusted Option</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-9</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Adjustment Event</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-7</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Affiliate</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-46</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Agreement</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-1</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Amended and Restated Holdco Charter</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-2</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Antitrust and Competition Laws</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-35</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Antitrust Filings</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-35</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Average Closing Price</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-7</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    B&#38;N</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-24</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Bank Commitment Letters</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-23</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Benefit Plans</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-38</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Bryan Cave</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-40</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Business Day</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-46</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Cancelled Shares</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-4</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Certificates</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-5</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Certificates of Merger</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-3</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Citigroup</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-23</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Closing</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-3</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Closing Date</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-3</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Code</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-1</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Company</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-1</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Company Adverse Recommendation Change</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-29</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Company Benefit Plans</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-14</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Company Cash Consideration</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-4</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Company Certificate of Merger</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-3</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Company Certificates</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-4</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Company Common Stock</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-4</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Company Disclosure Letter</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-10</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Company Indemnified Parties</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-36</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Company Intellectual Property</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-16</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Company Merger</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-2</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Company Merger Consideration</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-4</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Company Merger Sub</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-1</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Company Permitted Liens</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-16</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Company Preferred Stock</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-10</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Company Representatives</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-28</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Company SEC Documents</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-12</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Company Stock Consideration</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-4</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Company Stock Option</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-8</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Company Stock Option Plans</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-8</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Company Stockholder Approval</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-17</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Company Stockholders Meeting</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-34</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>
</CENTER>

<P align="center" style="font-size: 10pt;">A-iv

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; ">

<TR style="font-size: 1pt;">
    <TD width="91%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Company Superior Proposal</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-28</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Company Takeover Proposal</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-28</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Company Termination Fee</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-44</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Company&#146;s Current Premium</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-37</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Confidentiality Agreement</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-34</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    DGCL</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-1</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Dissenting Shares</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-8</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Dissenting Stockholder</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-8</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    DLLCA</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-1</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Effective Time</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-3</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Environmental Claim</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-16</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Environmental Laws</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-16</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Environmental Permits</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-16</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    ERISA</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-14</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    ESPP</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-8</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Exchange Act</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-12</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Exchange Agent</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-5</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Exchange Fund</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-5</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Expenses</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-43</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Form&nbsp;S-4</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-13</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    GAAP</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-12</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    GameStop</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-1</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    GameStop Adverse Recommendation Change</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-31</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    GameStop Benefits Plan</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-38</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    GameStop Certificate of Merger</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-3</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    GameStop Certificates</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-5</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    GameStop Charter Amendment</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-23</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    GameStop Class&nbsp;A Common Stock</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-4</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    GameStop Class&nbsp;A Consideration</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-4</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    GameStop Class&nbsp;B Common Stock</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-4</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    GameStop Class&nbsp;B Consideration</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-4</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    GameStop Common Stock</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-4</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    GameStop Disclosure Letter</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-18</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    GameStop Indemnified Parties</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-36</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    GameStop Merger</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-2</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    GameStop Merger Consideration</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-4</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    GameStop Merger Sub</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-1</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    GameStop Preferred Stock</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-18</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    GameStop Representatives</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-30</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    GameStop Rights</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-18</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    GameStop Rights Agreement</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-18</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    GameStop SEC Documents</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-20</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    GameStop Series&nbsp;A Preferred Stock</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-18</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    GameStop Stock Option</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-9</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    GameStop Stock Option Plan</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-9</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>
</CENTER>

<P align="center" style="font-size: 10pt;">A-v

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; ">

<TR style="font-size: 1pt;">
    <TD width="91%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    GameStop Stockholder Approval</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-23</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    GameStop Stockholders Meeting</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-34</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    GameStop Superior Proposal</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-31</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    GameStop Takeover Proposal</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-31</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    GameStop Termination Fee</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-44</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    GameStop, Inc.&nbsp;</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-1</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    GameStop&#146;s Current Premium</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-37</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Governmental Entity</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-11</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Holdco</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-1</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Holdco Class&nbsp;A Common Stock</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-2</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Holdco Class&nbsp;B Common Stock</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-2</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Holdco Common Stock</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-2</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Holdco Preferred Stock</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-2</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Holdco Series&nbsp;A Preferred Stock</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-2</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Holdco Stock Option Plan</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-9</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    HSR Act</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-12</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    HSR Filing</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-35</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Indemnified Parties</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-36</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Infringe</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-16</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Insiders</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-38</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Intellectual Property</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-46</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Joint Proxy Statement</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-12</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Kim Group</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-1</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Kim Group Voting Agreement</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-1</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Klehr Harrison</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-40</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Knowledge</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-46</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Law</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-46</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Liability</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-46</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Liens</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-47</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Material Adverse Effect</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-47</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Material Contract</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-15</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Merger Consideration</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-4</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Merger Subs</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-1</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Mergers</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-2</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Merrill Lynch</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-17</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    New Plans</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-39</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Notice of Company Adverse Recommendation</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-29</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Notice of GameStop Adverse Recommendation</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-31</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Objecting Party</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-35</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Outside Date</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-42</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Permits</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-14</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Permitted Liens</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-47</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Person</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-47</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    PJSC</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-17</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Riggio Group</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-2</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>
</CENTER>

<P align="center" style="font-size: 10pt;">A-vi

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; ">

<TR style="font-size: 1pt;">
    <TD width="91%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Riggio Group Voting Agreement</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-2</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    SEC</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-12</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Section&nbsp;16 Information</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-38</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Securities Act</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-12</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Separation Agreement</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-24</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Spin-Off</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-17</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Subsidiary</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-47</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Substantial Negotiations</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-18</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Takeover Statute</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-17</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Tax Return</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-15</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Taxes</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-15</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Transferee</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-15</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Voting Agreements</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>A-2</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>
</CENTER>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; margin-top: 12pt; ">

<TR style="font-size: 1pt;">
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="77%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" nowrap>Exhibit&nbsp; A</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    Kim Group Voting Agreement</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="9">&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" nowrap>Exhibit&nbsp; B</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    Riggio Group Voting Agreement</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" nowrap>Exhibit&nbsp; C</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    Form of Amended and Restated Certificate of Incorporation of
    Holdco</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" nowrap>Exhibit&nbsp; D</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    Form of Amended and Restated Bylaws of Holdco</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" nowrap>Exhibit&nbsp; E</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    Form of Company Certificate of Merger</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" nowrap>Exhibit&nbsp; F</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    Form of GameStop Certificate of Merger</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" nowrap>Exhibit&nbsp; G</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    Form of Amended and Restated Certificate of Incorporation of the
    Company</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" nowrap>Exhibit&nbsp; H</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    Form of Amended and Restated Bylaws of the Company</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" nowrap>Exhibit&nbsp; I</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    Form of Amended and Restated Certificate of Incorporation of
    GameStop</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="9">&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" nowrap>Exhibit&nbsp; J</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">
    Form of Amended and Restated Bylaws of GameStop</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>
</CENTER>

<P align="center" style="font-size: 10pt;">A-vii
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV align="left" style="font-size: 10pt;">
<A name='259'></A>
</DIV>

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<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>AGREEMENT AND PLAN OF MERGER</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
AGREEMENT AND PLAN OF MERGER (this
&#147;<U>Agreement</U>&#148;), dated as of April&nbsp;17, 2005,
by and among GameStop Corp., a Delaware corporation
(&#147;<U>GameStop</U>&#148;), GameStop, Inc., a Minnesota
corporation (&#147;<U>GameStop, Inc.</U>&#148;) , GSC Holdings
Corp., a Delaware corporation and wholly-owned subsidiary of
GameStop, Inc. (&#147;<U>Holdco</U>&#148;), Cowboy Subsidiary
LLC, a Delaware limited liability company and wholly-owned
subsidiary of Holdco (&#147;<U>GameStop Merger Sub</U>&#148;),
Eagle Subsidiary LLC, a Delaware limited liability company and
wholly-owned subsidiary of Holdco (&#147;<U>Company Merger
Sub</U>&#148; and, together with GameStop Merger Sub, the
&#147;<U>Merger Subs</U>&#148;), and Electronics Boutique
Holdings Corp., a Delaware corporation (the
&#147;<U>Company</U>&#148;).
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
WITNESSETH:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
WHEREAS, the respective Boards of Directors of the Company and
GameStop have each determined that a business combination
between GameStop and the Company is in the best interests of
their respective companies and stockholders and accordingly have
agreed to effect the Mergers upon the terms and subject to the
conditions set forth in this Agreement and in accordance with
the General Corporation Law of the State of Delaware (the
&#147;<U>DGCL</U>&#148;) and the Limited Liability Company Act
of the State of Delaware (the &#147;<U>DLLCA</U>&#148;), whereby
each issued and outstanding share of capital stock of the
Company will be converted into the right to receive shares of
capital stock of Holdco and cash as provided in Section&nbsp;2.1
and each issued and outstanding share of capital stock of
GameStop will be converted into the right to receive shares of
capital stock of Holdco as provided in Section&nbsp;2.2;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
WHEREAS, prior to the date hereof, GameStop, Inc. organized
Holdco for the sole purpose of effectuating the Mergers (as
defined herein) and the other transactions contemplated hereby
and GameStop, Inc. is the sole stockholder of Holdco;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
WHEREAS, prior to the date hereof, Holdco organized Company
Merger Sub and GameStop Merger Sub for the sole purpose of
effectuating the Mergers and Holdco is the sole member of both
Company Merger Sub and GameStop Merger Sub;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
WHEREAS, (i)&nbsp;the Board of Directors of the Company has
determined that the Company Merger (as defined herein) is
advisable and fair to, and in the best interests of, the Company
and its stockholders, (ii)&nbsp;the Board of Directors of
GameStop has determined that the GameStop Merger (as defined
herein) is advisable and fair to, and in the best interests of,
GameStop and its stockholders and (iii)&nbsp;the Board of
Directors of Holdco has determined that the Mergers are
advisable and fair to, and in the best interests of, Holdco and
its stockholders;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
WHEREAS, the Company, GameStop and Holdco desire to make certain
representations, warranties, covenants and agreements in
connection with the Mergers and also to prescribe various
conditions to the Mergers;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
WHEREAS, for Federal income tax purposes, it is intended that
the exchange of GameStop Common Stock (as defined herein) and
Company Common Stock (as defined herein) for Holdco Common Stock
pursuant to the Mergers, taken together, shall qualify as a
transaction described in Section&nbsp;351 of the Internal
Revenue Code of 1986, as amended (the &#147;<U>Code</U>&#148;);
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
WHEREAS, as a condition and inducement to GameStop&#146;s
willingness to enter into this Agreement, EB Nevada Inc., and
James J. Kim (collectively, the &#147;<U>Kim Group</U>&#148;)
are entering into a Voting Agreement, dated as of the date
hereof, in the form of <U>Exhibit&nbsp;A</U> hereto (the
&#147;<U>Kim Group Voting Agreement</U>&#148;), pursuant to
which, among other things, and subject to the terms and
conditions of the Kim Group Voting Agreement, the Kim Group has
agreed to vote all shares of Company Common Stock beneficially
owned by the Kim Group in favor of the adoption of this
Agreement and not to sell or otherwise transfer any shares of
Company Common Stock prior to the termination of such Kim Group
Voting Agreement in accordance with its terms;
</DIV>

<P align="center" style="font-size: 10pt;">A-1

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
WHEREAS, as a condition and inducement to the Kim Group&#146;s
willingness to enter into the Kim Group Voting Agreement,
GameStop has agreed to cause Holdco to enter into a registration
rights agreement in the form attached thereto on or prior to the
Closing Date;&nbsp;and
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
WHEREAS, as a condition and inducement to the Company&#146;s
willingness to enter into this Agreement, Leonard Riggio,
Barnes&nbsp;&#38; Noble College Bookstores, Inc. and The Riggio
Foundation (collectively, the &#147;<U>Riggio Group</U>&#148;)
are entering into a Voting Agreement, dated as of the date
hereof, in the form of <U>Exhibit&nbsp;B</U> hereto (the
&#147;<U>Riggio Group Voting Agreement,</U>&#148; and together
with the Kim Group Voting Agreement, the &#147;<U>Voting
Agreements</U>&#148;), pursuant to which, among other things,
and subject to the terms and conditions of the Riggio Group
Voting Agreement, the Riggio Group has agreed to vote all shares
of GameStop Common Stock beneficially owned by them in favor of
the adoption of this Agreement and not to sell or otherwise
transfer any shares of GameStop Common Stock prior to the
termination of such Riggio Group Voting Agreement in accordance
with its terms.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
NOW, THEREFORE, in consideration of the mutual representations,
warranties, covenants and agreements contained in this
Agreement, and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, and
upon the terms and subject to the conditions set forth herein,
the parties hereto agree as follows (capitalized terms used
below shall have the meanings ascribed thereto as referenced in
the Table of Defined Terms):
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
ARTICLE&nbsp;I
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
THE MERGERS
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;1.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Holdco</U>.</I>
On or prior to the Effective Time, GameStop shall cause Holdco
to amend and restate its certificate of incorporation such that
it will be substantially in the form attached hereto as
<U>Exhibit&nbsp;C</U> (the &#147;<U>Amended and Restated Holdco
Charter</U>&#148;), which, among other things, will increase the
authorized capital stock of Holdco to the following:
(i)&nbsp;300,000,000&nbsp;shares of Class&nbsp;A Common Stock,
par value $0.001&nbsp;per share (the &#147;<U>Holdco
Class&nbsp;A Common Stock</U>&#148;), of which one share shall
be issued to GameStop, Inc.; (ii)&nbsp;100,000,000&nbsp;shares
of Class&nbsp;B Common Stock, par value $0.001 per share (the
&#147;<U>Holdco Class&nbsp;B Common Stock&#148;</U> and,
together with the Holdco Class&nbsp;A Common Stock, the
&#147;<U>Holdco Common Stock</U>&#148;); and
(iii)&nbsp;5,000,000&nbsp;shares of Preferred Stock, par value
$0.001&nbsp;per share (the &#147;<U>Holdco Preferred
Stock</U>&#148;), of which 500,000&nbsp;shares have been
designated Series&nbsp;A Junior Participating Preferred Stock,
par value $0.001&nbsp;per share (the &#147;<U>Holdco
Series&nbsp;A Preferred Stock</U>&#148;). At or immediately
following the Effective Time, Holdco shall amend its amended and
restated certificate of incorporation to change its name to
&#147;GameStop Corp.&#148; On or prior to the Effective Time,
Holdco shall amend and restate its bylaws such that it will be
substantially in the form attached hereto as
<U>Exhibit&nbsp;D</U>. On or prior to the Effective Time, Holdco
shall adopt a Rights Agreement with The Bank of New York, as
rights agent, substantially in the form of the GameStop Rights
Agreement, as amended from time to time, which shall entitle the
holders of Holdco Common Stock to purchase, on the occurrence of
certain events, Holdco Series&nbsp;A Preferred Stock.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;1.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>The
Mergers</U>.</I> At the Effective Time:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (a)&nbsp;The Company Merger Sub shall be merged with and into
    the Company (the &#147;<U>Company Merger</U>&#148;). The Company
    will be the surviving corporation in the Company Merger, and the
    separate existence of the Company Merger Sub shall cease. As a
    result of the Company Merger, the Company shall become a
    wholly-owned Subsidiary of Holdco.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (b)&nbsp;GameStop Merger Sub shall be merged with and into
    GameStop (the &#147;<U>GameStop Merger</U>&#148; and, together
    with the Company Merger, the &#147;<U>Mergers</U>&#148;).
    GameStop will be the surviving corporation in the GameStop
    Merger, and the separate existence of GameStop Merger Sub shall
    cease. As a result of the GameStop Merger, GameStop shall become
    a wholly-owned Subsidiary of Holdco.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (c)&nbsp;The Mergers will have the effects set forth in the DGCL
    and the DLLCA.</TD>
</TR>

</TABLE>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;1.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Effective
Time of the Mergers</U>.</I> Subject to the provisions of this
Agreement, on the Closing Date, the parties shall (and shall
cause their Subsidiaries to) cause the following to occur:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (a)&nbsp;The Company shall execute and deliver for filing a
    certificate of merger in the form of <U>Exhibit&nbsp;E</U>
    hereto (the &#147;<U>Company Certificate of Merger</U>&#148;) to
    the Secretary of State for the State of Delaware, in such form
    and manner provided in the DGCL and the DLLCA. The Company shall
    make all other filings required under the DGCL or the DLLCA to
    effect the Company Merger.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (b)&nbsp;GameStop shall execute and deliver for filing a
    certificate of merger in the form of <U>Exhibit&nbsp;F
    </U>hereto (the &#147;<U>GameStop Certificate of
    Merger</U>&#148; and, together with the Company Certificate of
    Merger, the &#147;<U>Certificates of Merger</U>&#148;) to the
    Secretary of State for the State of Delaware, in such form and
    manner provided in the DGCL and the DLLCA. GameStop shall make
    all other filings required under the DGCL or the DLLCA to effect
    the GameStop Merger.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (c)&nbsp;Each Merger shall become effective upon the filing of
    the appropriate Certificate of Merger with the Secretary of
    State for the State of Delaware or, in each case, at such time
    thereafter as is provided in such Certificate of Merger as
    agreed to by the Company and GameStop; <U>provided</U> that the
    Mergers shall become effective at the same time (such time as
    the Mergers become effective, the &#147;<U>Effective
    Time</U>&#148;).</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;1.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Closing</U>.</I>
The closing of the Mergers (the &#147;<U>Closing</U>&#148;) will
take place at 10:00&nbsp;a.m. on the date (the &#147;<U>Closing
Date</U>&#148;) that is the second Business Day after the
satisfaction or waiver (subject to applicable Law) of the
conditions set forth in Article&nbsp;VII (excluding conditions
that, by their terms, are to be satisfied on the Closing Date,
but subject to the satisfaction or waiver of such conditions),
unless another time or date is agreed to in writing by GameStop
and the Company. The Closing shall be held at the offices of
Bryan Cave LLP, 1290 Avenue of the Americas, New York, New York
10104, unless another place is agreed to in writing.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;1.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Certificates
of Incorporation and Bylaws of the Surviving
Corporations</U>.</I> (a)&nbsp;The certificate of incorporation
and bylaws of the Company as in effect immediately before the
Effective Time shall be amended as of the Effective Time so as
to read in their entirety in the form attached hereto as
<U>Exhibit&nbsp;G</U> and <U>Exhibit&nbsp;H</U>, respectively,
and, as so amended, shall be the certificate of incorporation
and bylaws, respectively, of the Company as the surviving
corporation in the Company Merger, until thereafter changed or
amended as provided therein or by applicable Law.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)&nbsp;The certificate of incorporation and bylaws of GameStop
as in effect immediately before the Effective Time shall be
amended as of the Effective Time so as to read in their entirety
in the form attached hereto as <U>Exhibit&nbsp;I</U> and
<U>Exhibit&nbsp;J</U>, respectively, and, as so amended, shall
be the certificate of incorporation and bylaws, respectively, of
GameStop as the surviving corporation in the GameStop Merger,
until thereafter changed or amended as provided therein or by
applicable Law.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;1.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Officers
and Directors of the Surviving Corporations</U>.</I> (a)&nbsp;At
the Effective Time, the directors and officers of the Company,
as the surviving corporation in the Company Merger, shall be the
same as the directors and officers of Holdco at the Effective
Time, in accordance with Section&nbsp;6.17.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)&nbsp;At the Effective Time, the directors and officers of
GameStop, as the surviving corporation in the GameStop Merger,
shall be the same as the directors and officers of Holdco at the
Effective Time, in accordance with Section&nbsp;6.17.
</DIV>

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<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
ARTICLE&nbsp;II
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
EFFECT OF THE MERGERS; SURRENDER OF CERTIFICATES AND PAYMENT
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;2.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Conversion
of Company Securities</U>.</I> At the Effective Time, by virtue
of the Company Merger and without any action on the part of
Holdco, Company Merger Sub, the Company or the holders of any of
the following securities:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (a)<I>&nbsp;<U>Conversion of Company Common Stock</U>.</I> Each
    share of common stock, par value $0.01&nbsp;per share, of the
    Company (&#147;<U>Company Common Stock</U>&#148;) issued and
    outstanding immediately prior to the Effective Time (other than
    any Cancelled Shares and any Dissenting Shares) shall, subject
    to Section&nbsp;2.3(f), be converted into the right to receive
    the following consideration: (i)&nbsp;$38.15 in cash (the
    &#147;<U>Company Cash Consideration</U>&#148;) without interest
    and (ii)&nbsp;0.78795 validly issued, fully paid, nonassessable
    shares of Holdco Class&nbsp;A Common Stock (the &#147;<U>Company
    Stock Consideration</U>&#148; and, together with the Company
    Cash Consideration, the &#147;<U>Company Merger
    Consideration</U>&#148;).</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (b)<I>&nbsp;<U>Company and GameStop-Owned Shares</U>.</I> Each
    share of Company Common Stock owned by the Company, Company
    Merger Sub or GameStop (&#147;<U>Cancelled Shares</U>&#148;), in
    each case immediately prior to the Effective Time, shall be
    canceled without any conversion thereof, and no consideration
    shall be paid with respect thereto.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (c)<I>&nbsp;<U>Conversion of Company Merger Sub Membership
    Interests</U>.</I> The membership interests of Company Merger
    Sub outstanding immediately prior to the Effective Time shall be
    converted into one fully paid non-assessable share of common
    stock, par value $0.01&nbsp;per share, of the Company, as the
    surviving corporation in the Company Merger.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (d)<I>&nbsp;<U>Exchange of Certificates</U>.</I> Certificates
    that immediately prior to the Effective Time represented shares
    of Company Common Stock (the &#147;<U>Company
    Certificates</U>&#148;) shall be exchanged in accordance with
    Section&nbsp;2.3.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;2.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Conversion
of GameStop Securities</U>.</I> At the Effective Time, by virtue
of the GameStop Merger and without any action on the part of
Holdco, GameStop Merger Sub, GameStop or the holders of any of
the following securities:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (a)<I>&nbsp;<U>Conversion of GameStop Class&nbsp;A Common
    Stock</U>.</I> Each share of Class&nbsp;A common stock, par
    value $0.001&nbsp;per share, of GameStop (&#147;<U>GameStop
    Class&nbsp;A Common Stock</U>&#148;) issued and outstanding
    immediately prior to the Effective Time (other than any shares
    cancelled pursuant to Section&nbsp;2.2(c)) shall be converted
    into the right to receive one validly issued, fully paid and
    non-assessable share of Holdco Class&nbsp;A Common Stock (the
    &#147;<U>GameStop Class&nbsp;A Consideration</U>&#148;).</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (b)<I>&nbsp;<U>Conversion of GameStop Class&nbsp;B Common
    Stock</U>.</I> Each share of Class&nbsp;B common stock, par
    value $0.001&nbsp;per share, of GameStop (&#147;<U>GameStop
    Class&nbsp;B Common Stock</U>&#148; and, together with the
    GameStop Class&nbsp;A Common Stock, the &#147;<U>GameStop Common
    Stock</U>&#148;) issued and outstanding immediately prior to the
    Effective Time (other than any shares cancelled pursuant to
    Section&nbsp;2.2(c)) shall be converted into the right to
    receive one validly issued, fully paid and non-assessable share
    of Holdco Class&nbsp;B Common Stock (the &#147;<U>GameStop
    Class&nbsp;B Consideration</U>&#148;, and together with the
    GameStop Class&nbsp;A Consideration, the &#147;<U>GameStop
    Merger Consideration</U>&#148; and together with the Company
    Merger Consideration, the &#147;<U>Merger
    Consideration</U>&#148;).</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (c)<I>&nbsp;<U>GameStop and Company-Owned Shares</U>.</I> Each
    share of GameStop Class&nbsp;A Common Stock and GameStop
    Class&nbsp;B Common Stock owned by GameStop, GameStop Merger Sub
    or the Company, in each case immediately prior to the Effective
    Time, shall be cancelled without any conversion thereof, and no
    consideration shall be paid with respect thereto.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (d)<I>&nbsp;<U>Conversion of GameStop Merger Sub Membership
    Interests</U>.</I> The membership interests of GameStop Merger
    Sub outstanding immediately prior to the Effective Time shall be
    converted into one fully paid and non-assessable share of common
    stock, par value $0.01&nbsp;per share, of GameStop, as the
    surviving corporation in the GameStop Merger.</TD>
</TR>

</TABLE>

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<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (e)<I>&nbsp;<U>Cancellation of Holdco Common Stock</U>.</I> Each
    share of Holdco Common Stock held by GameStop, Inc. immediately
    prior to the Effective Time shall be cancelled, and no
    consideration shall be paid with respect thereto.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (f)<I>&nbsp;<U>Exchange of Certificates</U>.</I> Certificates
    that immediately prior to the Effective Time represented shares
    of GameStop Common Stock (the &#147;<U>GameStop
    Certificates</U>&#148; and, together with the Company
    Certificates, the &#147;<U>Certificates</U>&#148;) shall be
    exchanged in accordance with Section&nbsp;2.3.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;2.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Exchange
of Certificates</U>.</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(a)<I>&nbsp;<U>Exchange Agent</U>.</I> As soon as practicable
following the date of this Agreement and in any event not less
than 15 Business Days prior to the Closing Date, GameStop will
designate a national bank or trust company reasonably
satisfactory to the Company to act as agent of Holdco for
purposes of, among other things, mailing and receiving
transmittal letters and distributing the Merger Consideration to
the Company&#146;s and GameStop&#146;s stockholders (the
&#147;<U>Exchange Agent</U>&#148;). The Exchange Agent shall
also act as the agent for the Company&#146;s and GameStop&#146;s
stockholders for the purpose of receiving and holding their
Certificates and shall obtain no rights or interests in the
shares represented by such Certificates. As of the Effective
Time, Holdco and the Exchange Agent shall enter into an
agreement which will provide that Holdco shall have deposited
with the Exchange Agent as of the Effective Time, for the
benefit of the holders of shares of Company Common Stock and
GameStop Common Stock for exchange in accordance with this
Article&nbsp;II, through the Exchange Agent, cash and
certificates representing the shares of Holdco Common Stock
(such cash and such shares of Holdco Common Stock, together with
any dividends or distributions with respect thereto with a
record date after the Effective Time and any cash payable in
lieu of any fractional shares of Holdco Common Stock, being
hereinafter referred to as the &#147;<U>Exchange Fund</U>&#148;)
issuable pursuant to Section&nbsp;2.1 and 2.2 in exchange for
outstanding shares of Company Common Stock and GameStop Common
Stock.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)<I>&nbsp;<U>Exchange Procedures</U>.</I>
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (i)&nbsp;As soon as reasonably practicable after the Effective
    Time, the Exchange Agent will mail to each holder of record of a
    Certificate whose shares of Company Common Stock or GameStop
    Common Stock were converted into the right to receive the Merger
    Consideration (A)&nbsp;a letter of transmittal (which will
    specify that delivery will be effected, and risk of loss and
    title to the Certificates will pass, only upon proper delivery
    of the Certificates to the Exchange Agent and will be in such
    form and have such other provisions as Holdco may specify
    consistent with this Agreement) and (B)&nbsp;instructions for
    use in effecting the surrender of the Certificates in exchange
    for the Merger Consideration.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (ii)&nbsp;After the Effective Time, upon surrender of a
    Certificate for cancellation to the Exchange Agent, together
    with the letter of transmittal contemplated in
    Section&nbsp;2.3(b)(i), duly executed, and such other documents
    as may reasonably be required by the Exchange Agent, the holder
    of such Certificate will be entitled to receive in exchange
    therefor the Merger Consideration that such holder has the right
    to receive pursuant to the provisions of this Article&nbsp;II,
    certain dividends or other distributions, if any, in accordance
    with Section&nbsp;2.3(c) and cash in lieu of any fractional
    share of Holdco Common Stock in accordance with
    Section&nbsp;2.3(f), and the Certificate so surrendered will
    forthwith be canceled. In the event of a transfer of ownership
    of shares of Company Common Stock or GameStop Common Stock that
    are not registered in the transfer records of the Company or
    GameStop, as applicable, payment may be issued to a Person other
    than the Person in whose name the Certificate so surrendered is
    registered (the &#147;<U>Transferee</U>&#148;), if such
    Certificate is properly endorsed or otherwise in proper form for
    transfer and the Transferee pays any transfer or other Taxes
    required by reason of such payment to a Person other than the
    registered holder of such Certificate or establishes to the
    satisfaction of the Exchange Agent that such Tax has been paid
    or is not applicable. Until surrendered as contemplated by this
    Section&nbsp;2.3(b), each Certificate will be deemed at any time
    after the Effective Time to represent only the right to receive
    upon such surrender the Merger Consideration that the holder
    thereof has the right to receive in respect of such Certificate
    pursuant to the provisions of this Article&nbsp;II, certain
    dividends or other distributions, if any, in accordance with</TD>
</TR>

</TABLE>

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<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Section&nbsp;2.3(c) and cash in lieu of any fractional share of
    Holdco Common Stock in accordance with Section&nbsp;2.3(f). No
    interest will be paid or will accrue on any cash payable to
    holders of Company Certificates pursuant to the provisions of
    this Article&nbsp;II.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(c)<I>&nbsp;<U>Dividends; Other Distributions</U>.</I> No
dividends or other distributions with respect to Holdco Common
Stock with a record date after the Effective Time will be paid
to the holder of any unsurrendered Certificate with respect to
the shares of Holdco Common Stock represented thereby and no
cash payment in lieu of fractional shares will be paid to any
such holder pursuant to Section&nbsp;2.3(f), and all such
dividends, other distributions and cash in lieu of fractional
shares of Holdco Common Stock will be paid by Holdco to the
Exchange Agent and will be included in the Exchange Fund, in
each case until the surrender of such Certificate in accordance
with this Article&nbsp;II. Subject to the effect of applicable
escheat or similar Laws, following surrender of any such
Certificate in accordance herewith, there will be paid to the
holder of the certificate representing whole shares of Holdco
Common Stock issued in exchange therefor, without interest,
(i)&nbsp;at the time of such surrender, the amount of dividends
or other distributions with a record date after the Effective
Time theretofore paid with respect to such whole shares of
Holdco Common Stock and the amount of any cash payable in lieu
of a fractional share of Holdco Common Stock to which such
holder is entitled pursuant to Section&nbsp;2.3(f) and
(ii)&nbsp;at the appropriate payment date, the amount of
dividends or other distributions with a record date after the
Effective Time but prior to such surrender and with a payment
date subsequent to such surrender payable with respect to such
whole shares of Holdco Common Stock.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(d)<I>&nbsp;<U>No Further Ownership Rights in Company Common
Stock</U>.</I> All shares of Holdco Common Stock issued and all
Company Cash Consideration paid upon the surrender for exchange
of Company Certificates in accordance with the terms of this
Article&nbsp;II (including any cash paid pursuant to
Section&nbsp;2.3(c) and Section&nbsp;2.3(f)) will be deemed to
have been issued or paid, as the case may be, in full
satisfaction of all rights pertaining to the shares of Company
Common Stock theretofore represented by such Company
Certificates, subject, however, to Holdco&#146;s obligation to
pay any dividends or make any other distributions, in each case
with a record date (i)&nbsp;prior to the Effective Time that may
have been declared or made by the Company on such shares of
Company Common Stock in accordance with the terms of this
Agreement or (ii)&nbsp;prior to the date of this Agreement and
in each case which remain unpaid at the Effective Time, and
there will be no further registration of transfers on the stock
transfer books of the surviving corporation of the shares of
Company Common Stock that were outstanding immediately prior to
the Effective Time. If, after the Effective Time, Certificates
are presented to Holdco or the Exchange Agent for any reason,
they will be canceled and exchanged as provided in this
Article&nbsp;II.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(e)<I>&nbsp;<U>No Further Ownership Rights in GameStop Common
Stock</U>.</I> All shares of Holdco Common Stock issued upon the
surrender for exchange of GameStop Certificates in accordance
with the terms of this Article&nbsp;II (including any cash paid
pursuant to Section&nbsp;2.2(c)) will be deemed to have been
issued in full satisfaction of all rights pertaining to the
shares of GameStop Common Stock theretofore represented by such
GameStop Certificates, subject, however, to Holdco&#146;s
obligation to pay any dividends or make any other distributions,
in each case with a record date (i)&nbsp;prior to the Effective
Time that may have been declared or made by GameStop on such
shares of GameStop Common Stock in accordance with the terms of
this Agreement or (ii)&nbsp;prior to the date of this Agreement
and in each case which remain unpaid at the Effective Time, and
there will be no further registration of transfers on the stock
transfer books of Holdco of the shares of GameStop Common Stock
that were outstanding immediately prior to the Effective Time.
If, after the Effective Time, GameStop Certificates are
presented to Holdco or the Exchange Agent for any reason, they
will be canceled and exchanged as provided in this
Article&nbsp;II.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(f)<I>&nbsp;<U>No Fractional Shares</U>.</I>
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

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<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (i)&nbsp;No certificates or scrip representing fractional shares
    of Holdco Common Stock will be issued upon the surrender for
    exchange of Company Certificates, no dividend or distribution of
    Holdco will relate to such fractional share interests and such
    fractional share interests will not entitle the owner thereof to
    vote or to any rights of a stockholder of Holdco.</TD>
</TR>

</TABLE>

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<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (ii)&nbsp;Notwithstanding any other provision of this Agreement,
    each holder of shares of Company Common Stock converted pursuant
    to the Company Merger who would otherwise be entitled to receive
    a fraction of a share of Holdco Common Stock (after taking into
    account all shares of Company Common Stock held at the Effective
    Time by such holder) shall receive, in lieu thereof, an amount
    in cash (without interest), rounded to the nearest cent, equal
    to the product obtained by multiplying (A)&nbsp;the fractional
    share interest to which such former holder would otherwise be
    entitled by (B)&nbsp;the average of the closing prices for a
    share of GameStop Class&nbsp;A Common Stock as reported on the
    NYSE Composite Transactions Reports (as reported in The Wall
    Street Journal, or, if not reported thereby, any other
    authoritative source) for the ten trading days prior to, but not
    including, the Closing Date (the &#147;<U>Average Closing
    Price</U>&#148;).</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (iii)&nbsp;As soon as practicable after the determination of the
    amount of cash, if any, to be paid to holders of Company
    Certificates formerly representing shares of Company Common
    Stock with respect to any fractional share interests, the
    Exchange Agent shall make available such amounts to such holders
    of Company Certificates formerly representing shares of Company
    Common Stock subject to and in accordance with the terms of
    Section&nbsp;2.3(b).</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(g)<I>&nbsp;<U>Termination of Exchange Fund</U>.</I> Any portion
of the Exchange Fund that remains undistributed to the holders
of the Certificates for six months after the Effective Time will
be delivered to Holdco, upon demand, and any holders of
Certificates who have not theretofore complied with this
Article&nbsp;II may thereafter look only to Holdco for payment
of their claim for Merger Consideration, and any dividends or
distributions, if any, with respect to Holdco Common Stock and
any cash in lieu of fractional shares of Holdco Common Stock, as
applicable.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(h)<I>&nbsp;<U>No Liability</U>.</I> None of Holdco, GameStop,
the Company or the Exchange Agent will be liable to any Person
in respect of any shares of Holdco Common Stock, any dividends
or distributions with respect thereto, any cash in lieu of
fractional shares of Holdco Common Stock or any cash from the
Exchange Fund, in each case, delivered to a public official
pursuant to any applicable abandoned property, escheat or
similar Law.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(i)<I>&nbsp;<U>Investment of Exchange Fund</U>.</I> The Exchange
Agent shall invest any cash included in the Exchange Fund as
directed by Holdco in direct obligations of the
U.S.&nbsp;Treasury, on a daily basis. Any interest and other
income resulting from such investments will be paid to Holdco.
If for any reason (including losses) the cash in the Exchange
Fund shall be insufficient to fully satisfy all of the payment
obligations to be made in cash by the Exchange Agent hereunder,
Holdco shall promptly deposit cash into the Exchange Fund in an
amount which is equal to the deficiency in the amount of cash
required to fully satisfy such cash payment obligations.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(j)<I>&nbsp;<U>Lost Certificates</U>.</I> If any Certificate has
been lost, stolen or destroyed, upon the making of an affidavit
of that fact by the Person claiming such Certificate to be lost,
stolen or destroyed and, if required by Holdco the posting by
such Person of a bond in such reasonable amount as Holdco may
direct as indemnity against any claim that may be made against
it with respect to such Certificate, the Exchange Agent shall
issue, in exchange for such lost, stolen or destroyed
Certificate, the Merger Consideration and, if applicable, any
unpaid dividends and distributions on shares of Holdco Common
Stock deliverable in respect thereof and any cash in lieu of
fractional shares, in each case, due to such Person pursuant to
this Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;2.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Certain
Adjustments</U>.</I> If, after the date of this Agreement and at
or prior to the Effective Time, the outstanding shares of Holdco
Common Stock, GameStop Common Stock or Company Common Stock are
changed into a different number of shares by reason of any
reclassification, recapitalization, split-up, stock split,
subdivision, combination or exchange of shares or readjustment,
or any dividend payable in stock or other securities is declared
thereon or rights issued in respect thereof with a record date
within such period, or any similar event occurs (any such
action, an &#147;<U>Adjustment Event</U>&#148;), the Merger
Consideration will be proportionately and appropriately adjusted
to reflect such Adjustment Event.
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;2.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Appraisal
Rights</U>.</I> Shares of Company Common Stock that have not
been voted for adoption of this Agreement and with respect to
which appraisal has been properly demanded in accordance with
Section&nbsp;262 of the DGCL (&#147;<U>Dissenting
Shares</U>&#148;) will not be converted into the right to
receive the Company Merger Consideration at or after the
Effective Time unless and until the holder of such shares (a
&#147;<U>Dissenting Stockholder</U>&#148;) withdraws such demand
for such appraisal (in accordance with Section&nbsp;262(k) of
the DGCL) or becomes ineligible for such appraisal. If a holder
of Dissenting Shares withdraws such demand for appraisal (in
accordance with Section&nbsp;262(k) of the DGCL) or becomes
ineligible for such appraisal, then, as of the Effective Time or
the occurrence of such event, whichever last occurs, each of
such holder&#146;s Dissenting Shares will cease to be a
Dissenting Share and will be converted as of the Effective Time
into and represent the right to receive the Company Merger
Consideration, without interest thereon. The Company shall give
Holdco and GameStop prompt notice of any demands for appraisal,
attempted withdrawals of such demands and any other instruments
received by the Company relating to stockholders&#146; rights of
appraisal, and, prior to the Effective Time Holdco and GameStop
shall have the right to participate in, and after the Effective
Time Holdco shall have the right to direct, all negotiations and
proceedings with respect to such demands except as required by
applicable Law. The Company shall not, except with prior written
consent of Holdco and GameStop, which may be given or withheld
in its sole discretion, make any payment with respect to, or
settle or offer to settle, any such demands, unless and to the
extent required to do so under applicable Law.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;2.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Further
Assurances</U>.</I> At and after the Effective Time, the
officers and directors of Holdco will be authorized to execute
and deliver, in the name and on behalf of the Company, GameStop
or any of the Merger Subs, any deeds, bills of sale, assignments
or assurances and to take and do, in the name and on behalf of
the Company, GameStop or any of the Merger Subs, any other
actions and things to vest, perfect or confirm of record or
otherwise in the surviving corporation of the Mergers any and
all right, title and interest in, to and under any of the
rights, properties or assets acquired or to be acquired by the
surviving corporations in the Mergers as a result of, or in
connection with, the Mergers.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;2.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Withholding
Rights</U>.</I> Holdco or the Exchange Agent, as the case may
be, shall be entitled to deduct and withhold from the
consideration otherwise payable pursuant to this Agreement to
any Person such amounts, if any, as it is required to deduct and
withhold with respect to the making of such payment under the
Code (including any backup withholding or withholding required
by Section&nbsp;1445 of the Code), or any provision of state,
local or foreign tax Law. To the extent that amounts are so
withheld and paid over to the appropriate taxing authority by
Holdco or the Exchange Agent, as the case may be, such amounts
withheld shall be treated for purposes of this Agreement as
having been paid to such Person in respect of which such
deduction and withholding was made by Holdco or the Exchange
Agent, as the case may be.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;2.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Stock
Options and Other Equity Awards</U>.</I> (a)<I>&nbsp;<U>Company
Stock Option Plans</U>.</I> The Board of Directors of the
Company or the appropriate committee thereof shall take all
action necessary so that each option or other right to acquire
one (1)&nbsp;share of Company Common Stock (each, a
&#147;<U>Company Stock Option</U>&#148;) under the
Company&#146;s 1998 Equity Participation Plan and 2000 Equity
Participation Plan (collectively, the &#147;<U>Company Stock
Option Plans</U>&#148;), which, in each case, is outstanding
immediately prior to the Effective Time (whether vested or
unvested) shall, as of the Effective Time, cease to represent an
option or other right to acquire shares of Company Common Stock
and shall instead represent the right to receive, as soon as
practicable after the Effective Time, an amount in cash equal to
(A)&nbsp;the Company Cash Consideration <U>plus</U> (B)&nbsp;the
Company Stock Consideration <U>multiplied by</U> the Average
Closing Price <U>minus</U> (C)&nbsp;the exercise price per share
of such stock option <U>minus</U> (D)&nbsp;any applicable tax
withholding.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)<I>&nbsp;<U>Employee Stock Purchase Plan</U>.</I> At the
Effective Time, each option or other right to acquire one share
of Company Common Stock under the Amended and Restated 2000
Employee Stock Purchase Plan (the &#147;<U>ESPP</U>&#148;),
which, in each case, is outstanding immediately prior to the
Effective Time shall, subject to the terms of the ESPP, cease to
represent an option or other right to acquire shares of Company
Common Stock and shall instead represent the right to receive,
upon the next Offering Termination Date (as defined in the
ESPP), the Company Merger Consideration. The Company shall take
all action necessary to terminate the ESPP as of June&nbsp;30,
2005, and no person shall have any rights
</DIV>

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<DIV align="left" style="font-size: 10pt;">
under such plan from and after such termination;
<U>provided</U>, <U>however</U>, that such termination shall not
affect any options to purchase shares of Company Common Stock
that were issued prior to the date hereof and for which shares
of Company Common Stock will be issued on June&nbsp;30, 2005.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(c)<I>&nbsp;<U>Reservation of Shares</U>.</I> Holdco shall take
all corporate action necessary to reserve for issuance a
sufficient number of shares of Holdco Common Stock for delivery
with respect to shares of Holdco Common Stock to be delivered in
accordance with this Section&nbsp;2.8. Promptly after the
Effective Time, Holdco shall file a registration statement on
Form&nbsp;S-8 (or any successor or other appropriate form)
registering a number of shares of Holdco Common Stock necessary
to fulfill Holdco&#146;s obligations under this Section&nbsp;2.8
and shall maintain the effectiveness of such registration
statement or registration statements (and maintain the current
status of the prospectus or prospectuses contained therein) for
so long as such Company equity awards remain outstanding.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;2.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>GameStop
Stock Options; GameStop Stock Option Plans</U>.</I>
(a)<I>&nbsp;<U>Assumption of GameStop Stock Options</U>.</I> At
the Effective Time, (i)&nbsp;each outstanding option or other
right to acquire, whether vested or unvested immediately prior
to the Effective Time, shares of GameStop Class&nbsp;A Common
Stock (each a &#147;<U>GameStop Stock Option</U>&#148;), and
(ii)&nbsp;the Amended and Restated 2001 Incentive Plan of
GameStop (the &#147;<U>GameStop Stock Option Plan</U>&#148;) and
all agreements thereunder, shall be assumed by Holdco. At the
Effective Time, each GameStop Stock Option so assumed by Holdco
under this Agreement (an &#147;<U>Adjusted Option</U>&#148;),
shall continue to have, and be subject to, the same terms and
conditions (including expiration date, vesting and exercise
provisions) as were applicable under the GameStop Stock Option
Plan and the documents governing the GameStop Stock Options
immediately before the Effective Time, except that each GameStop
Stock Option will be exercisable for that number of shares of
Holdco Class&nbsp;A Common Stock equal to the number of shares
of GameStop Class&nbsp;A Common Stock that were issuable upon
exercise of such option immediately prior to the Effective Time.
The date of grant of each Adjusted Option will be the date on
which the corresponding GameStop Stock Option was granted.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)<I>&nbsp;<U>Stock Plans</U>.</I> GameStop and Holdco agree
that the GameStop Stock Option Plan will be amended, to the
extent necessary, to reflect the transactions contemplated by
this Agreement, including conversion of shares of the GameStop
Class&nbsp;A Common Stock held or to be awarded or paid pursuant
to such benefit plans, programs or arrangements into shares of
Holdco Class&nbsp;A Common Stock on a basis consistent with the
transactions contemplated by this Agreement. GameStop agrees to
submit the amendment to the GameStop Stock Option Plan to its
stockholders if such submission is determined to be necessary by
counsel to GameStop; <U>provided</U>, <U>however</U>, that such
approval will not be a condition to the consummation of the
Mergers.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(c)<I>&nbsp;<U>Reservation of Shares</U>.</I> Holdco
(i)&nbsp;will reserve for issuance the number of shares of
Holdco Class&nbsp;A Common Stock that will become subject to the
benefit plans, programs and arrangements referred to in this
Section&nbsp;2.9, (ii)&nbsp;will issue or cause to be issued the
appropriate number of shares of Holdco Class&nbsp;A Common
Stock, pursuant to applicable plans, programs and arrangements,
upon the exercise or maturation of rights existing thereunder on
the Effective Time or thereafter granted or awarded and
(iii)&nbsp;intends to adopt the Holdco 2005 Incentive Plan (the
&#147;<U>Holdco Stock Option Plan</U>&#148;) which will be
substantially in the form of the GameStop Stock Option Plan,
except that the number of shares of Holdco Class&nbsp;A Common
Stock issuable pursuant to such plan will be up to an additional
5,000,000. Promptly after the Effective Time, Holdco will
prepare and file with the SEC a registration statement on
Form&nbsp;S-8 (or other appropriate form) registering a number
of shares of Holdco Class&nbsp;A Common Stock necessary to
fulfill Holdco&#146;s obligations under this Section&nbsp;2.9.
Such registration statement will be kept effective (and the
current status of the prospectus required thereby will be
maintained) for at least as long as awards granted under the
GameStop Stock Option Plan and Holdco Stock Option Plan remain
outstanding.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(d)<I>&nbsp;<U>Notices</U>.</I> As soon as practicable after the
Effective Time, Holdco will deliver to the holders of the
GameStop Stock Options appropriate notices setting forth such
holders&#146; rights pursuant to the GameStop Stock Option Plan
and the agreements evidencing the grants of such GameStop Stock
Options and that such GameStop Stock Options and the related
agreements will be assumed by Holdco and will
</DIV>

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<DIV align="left" style="font-size: 10pt;">
continue in effect on the same terms and conditions (subject to
the modification required by this Section&nbsp;2.9 after giving
effect to the Mergers).
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
ARTICLE&nbsp;III
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
REPRESENTATIONS AND WARRANTIES OF THE COMPANY
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Except as set forth in the disclosure letter delivered by the
Company to GameStop concurrently with the execution of this
Agreement, which disclosure letter is arranged in paragraphs
corresponding to the numbered and lettered sections contained in
this Article&nbsp;III (the &#147;<U>Company Disclosure
Letter</U>&#148;), the Company hereby represents and warrants to
GameStop and Holdco:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;3.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Organization,
Standing and Corporate Power</U>.</I> Each of the Company and
its Subsidiaries is a corporation or other legal entity duly
organized, validly existing and in good standing under the laws
of the jurisdiction in which it is organized and has the
requisite corporate or other power, as the case may be, and
authority to carry on its business as now being conducted. Each
of the Company and its Subsidiaries is duly qualified or
licensed to do business in each jurisdiction in which the nature
of its business or the ownership, leasing or operation of its
properties makes such qualification or licensing necessary,
except for those jurisdictions where the failure to be so
qualified or licensed would not, individually or in the
aggregate, reasonably be expected to have or result in a
Material Adverse Effect on the Company. The Company has made
available to GameStop prior to the execution of this Agreement
complete and correct copies of the certificate of incorporation
and bylaws, memorandum and articles of association or other
governing documents of itself and each of its Subsidiaries each
as amended to the date of this Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;3.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Subsidiaries</U>.</I>
All outstanding shares of capital stock of, or other equity
interests in, each Subsidiary of the Company (i)&nbsp;have been
validly issued and are fully paid and nonassessable and
(ii)&nbsp;are free and clear of all Liens other than Permitted
Liens. All outstanding shares of capital stock (or equivalent
equity interests of entities other than corporations) of each
Subsidiary of the Company are beneficially owned, directly or
indirectly, by the Company. No Subsidiary of the Company owns,
either directly or indirectly, any shares of capital stock of
the Company. The Company does not, directly or indirectly, own
any capital stock or other equity interest in any Person other
than its Subsidiaries.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;3.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Capital
Structure</U>.</I> (a)&nbsp;The authorized capital stock of the
Company consists entirely of (i)&nbsp;100,000,000&nbsp;shares of
Company Common Stock and (ii)&nbsp;25,000,000&nbsp;shares of
Preferred Stock, par value $0.01&nbsp;per share, of the Company
(&#147;<U>Company Preferred Stock</U>&#148;). At the close of
business on April&nbsp;14, 2005 (i)&nbsp;24,766,479&nbsp;shares
of Company Common Stock were issued and outstanding;
(ii)&nbsp;2,784,635&nbsp;shares of Company Common Stock were
held by the Company in its treasury;
(iii)&nbsp;1,285,332&nbsp;shares of Company Common Stock were
subject to issued and outstanding Company Stock Options granted
under the Company Stock Option Plans; (iv)&nbsp;no more than
5,000&nbsp;shares of Company Common Stock were subject to issued
and outstanding options or other rights to acquire Company
Common Stock under the ESPP; and (v)&nbsp;no shares of Company
Preferred Stock were issued and outstanding. All outstanding
shares of capital stock of the Company are, and all shares that
may be issued will be, when issued, duly authorized, validly
issued, fully paid and nonassessable and not subject to or
issued in violation of preemptive rights.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)&nbsp;Set forth on Schedule&nbsp;3.3(b) of the Company
Disclosure Letter is (i)&nbsp;the authorized capital stock or
other equity interests of each of the Subsidiaries and the
issued and outstanding shares or other equity interests of each
of the Subsidiaries of the Company (including shares of
restricted stock); (ii)&nbsp;shares of stock or other equity
interests held by the relevant Subsidiary in its treasury;
(iii)&nbsp;shares or other equity interests of the relevant
Subsidiary that were subject to issued and outstanding options
granted under relevant stock option plans; and (iv)&nbsp;shares
of preferred stock of each Subsidiary of the Company. All
outstanding shares or other equity interests of capital stock of
each of the Subsidiaries are, and all shares or other equity
interests that may be issued will be, when issued, duly
authorized, validly issued, fully paid and nonassessable and not
subject to or issued in violation of preemptive rights.
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(c)&nbsp;Except as set forth in Section&nbsp;3.3(a) and (b), as
of April&nbsp;14, 2005, (1)&nbsp;there are not issued, reserved
for issuance or outstanding (i)&nbsp;any shares of capital stock
or other voting securities of the Company or any of its
Subsidiaries, (ii)&nbsp;any securities convertible into or
exchangeable or exercisable for shares of capital stock or
voting securities of the Company or any of its Subsidiaries, or
(iii)&nbsp;any warrants, calls, options or other rights to
acquire from the Company or any of its Subsidiaries any capital
stock, voting securities or securities convertible into or
exchangeable or exercisable for capital stock or voting
securities of the Company or any of its Subsidiaries and
(2)&nbsp;there are no outstanding obligations of the Company or
any of its Subsidiaries to (i)&nbsp;issue, deliver or sell, or
cause to be issued, delivered or sold, any capital stock, voting
securities or securities convertible into or exchangeable or
exercisable for capital stock or voting securities of the
Company or any of its Subsidiaries or (ii)&nbsp;repurchase,
redeem or otherwise acquire any such securities.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;3.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Authority</U>.</I>
The Company has all requisite corporate power and authority to
enter into this Agreement and, subject, in the case of the
Company Merger, to the Company Stockholder Approval, to
consummate or cause the transactions contemplated by this
Agreement. The execution and delivery of this Agreement by the
Company and the consummation by the Company of the transactions
contemplated hereby have been duly authorized by all necessary
corporate action on the part of the Company, subject, in the
case of the Company Merger, to receipt of the Company
Stockholder Approval. This Agreement has been duly executed and
delivered by the Company and, assuming the due authorization,
execution and delivery by GameStop and Holdco, constitutes the
legal, valid and binding obligation of the Company, enforceable
against the Company in accordance with its terms, except as the
enforcement thereof may be limited by applicable bankruptcy,
insolvency, reorganization, moratorium, fraudulent conveyance or
similar Laws generally affecting the rights of creditors and
subject to general equity principles. The Board of Directors of
the Company has (i)&nbsp;duly and validly approved this
Agreement, (ii)&nbsp;determined and declared that this Agreement
and the transactions contemplated by this Agreement are
advisable and in the best interests of the Company and its
stockholders and (iii)&nbsp;resolved to recommend to such
stockholders that they vote in favor of the Company Merger and
(iv)&nbsp;approved the Kim Group Voting Agreement, in each case
subject to Section&nbsp;5.2. The Company has furnished to
GameStop a certified copy of resolutions of the Board of
Directors of the Company approving and adopting this Agreement,
the Company Merger and the other transactions contemplated
hereby.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;3.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Non-Contravention;
Consents and Approvals</U>.</I> (a)&nbsp;The execution and
delivery of this Agreement does not, and the consummation of the
transactions contemplated by this Agreement and compliance with
the provisions of this Agreement will not, (i)&nbsp;conflict
with the certificate of incorporation or bylaws (or comparable
organizational documents) of any of the Company and its
Subsidiaries, (ii)&nbsp;result in any breach, violation or
default (with or without notice or lapse of time, or both)
under, or give rise to a right of termination, cancellation or
creation or acceleration of any obligation or right of a third
party or loss of a benefit under, or result in the creation of
any Lien upon any of the properties or assets of any of the
Company and its Subsidiaries under, any loan or credit
agreement, note, bond, mortgage, indenture or other agreement,
instrument, permit, concession, franchise, lease, license or
other authorization applicable to any of the Company and its
Subsidiaries or their respective properties or assets or
(iii)&nbsp;subject to the governmental filings and other matters
referred to in Section&nbsp;3.5(b), conflict with or violate any
judgment, order, decree or Law applicable to any of the Company
and its Subsidiaries or their respective properties or assets,
other than, in the case of clauses&nbsp;(ii) and (iii), any such
conflicts, breaches, violations, defaults, rights, losses or
Liens that, individually or in the aggregate, would not
reasonably be expected to have or result in a Material Adverse
Effect on the Company and that would not prevent or materially
delay consummation of the Mergers.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)&nbsp;No consent, approval, order or authorization of, action
by or in respect of, or registration, declaration or filing
with, any court, administrative, regulatory or other
governmental agency, tribunal, body, instrumentality, entity,
commission or authority, whether supra-national, national,
federal, state, local or municipal, including without limitation
of the United States, the European Union, Canada or any other
applicable jurisdiction and political subdivisions thereof, or
any non-governmental self-regulatory agency, commission or
authority or any arbitral tribunal in any applicable
jurisdiction (each, a &#147;<U>Governmental</U>
</DIV>

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<DIV align="left" style="font-size: 10pt;">
<U>Entity</U>&#148;) or any third party is required by the
Company or any of its Subsidiaries in connection with the
execution and delivery of this Agreement by the Company or the
consummation by the Company of the transactions contemplated
hereby, except for: (i)&nbsp;the Company Stockholder Approval,
(ii)&nbsp;the filing with the Securities and Exchange Commission
(the &#147;<U>SEC</U>&#148;) of (A)&nbsp;a joint proxy statement
relating to the Company Stockholders Meeting and the GameStop
Stockholders Meeting (such proxy statement, as amended or
supplemented from time to time, the &#147;<U>Joint Proxy
Statement</U>&#148;) and (B)&nbsp;such reports under
Section&nbsp;13(a), 13(d), 15(d) or 16(a) or such other
applicable sections of the Securities Exchange Act of 1934, as
amended (the &#147;<U>Exchange Act</U>&#148;), as may be
required in connection with this Agreement and the transactions
contemplated hereby; (iii)&nbsp;the filing of the Certificates
of Merger with the Secretary of State of the State of Delaware;
(iv)&nbsp;all necessary registrations and filings and approvals
or waivers under the Antitrust and Competition Laws, including
in respect of the HSR Filings by the Company, GameStop and any
member of the Kim Group under the Hart-Scott-Rodino
Antitrust&nbsp;Improvements Act of 1976, as amended (the
&#147;<U>HSR Act</U>&#148;), and any other filings either
required under any other applicable Antitrust and Competition
Laws or that the Company and GameStop deem advisable;
(v)&nbsp;notifications to NASDAQ and, in the case of GameStop,
filings with and approvals of the NYSE to permit the shares of
Holdco Common Stock that are to be issued in the Mergers to be
listed on the NYSE; and (vi)&nbsp;such consents, approvals,
orders or authorizations the failure of which to be made or
obtained, individually or in the aggregate, would not reasonably
be expected to have or result in a Material Adverse Effect on
the Company and that would not prevent or materially delay
consummation of the Mergers.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;3.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>SEC
Reports and Financial Statements</U>.</I> (a)&nbsp;The Company
has filed all required reports, schedules, forms, statements and
other documents (including exhibits and all other information
incorporated therein) under the Securities Act of 1933, as
amended (the &#147;<U>Securities Act</U>&#148;), and the
Exchange Act with the SEC since February&nbsp;1, 2002 (as such
reports, schedules, forms, statements and documents have been
amended since the time of their filing, collectively, the
&#147;<U>Company SEC Documents</U>&#148;). As of their
respective dates, or if amended prior to the date of this
Agreement, as of the date of the last such amendment, the
Company SEC Documents complied in all material respects with the
requirements of the Securities Act or the Exchange Act, as the
case may be, and the rules and regulations of the SEC
promulgated thereunder applicable to such Company SEC Documents,
and none of the Company SEC Documents when filed, or as so
amended, contained any untrue statement of a material fact or
omitted to state a material fact required to be stated therein
or necessary in order to make the statements therein, in light
of the circumstances under which they were made, not misleading.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)&nbsp;The consolidated financial statements of the Company
included in the Company SEC Documents comply as to form, as of
their respective date of filing with the SEC, in all material
respects with applicable accounting requirements and the
published rules and regulations of the SEC with respect thereto,
have been prepared in accordance with United States generally
accepted accounting principles (&#147;<U>GAAP</U>&#148;)
(except, in the case of unaudited statements, as permitted by
Form&nbsp;10-Q of the SEC) applied on a consistent basis during
the periods involved (except as may be indicated in the notes
thereto), and fairly present in all material respects the
consolidated financial position of the Company and its
consolidated subsidiaries as of the dates thereof and the
consolidated statements of income, cash flows and
stockholders&#146; equity for the periods then ended (subject,
in the case of unaudited statements, to normal recurring
year-end audit adjustments). No Subsidiary of the Company is
required to make any filings with the SEC or any comparable
regulatory authority in any jurisdiction.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(c)&nbsp;The Company and its Subsidiaries have designed and
maintain a system of internal controls over financial reporting
(as defined in Rules&nbsp;13a-15(f) and 15d-15(f) of the
Exchange Act) sufficient to provide reasonable assurances
regarding the reliability of financial reporting and the
preparation of financial statements for external purposes in
accordance with GAAP. The Company (A)&nbsp;has designed and
maintains disclosure controls and procedures (as defined in
Rules&nbsp;13a-15(e) and 15d-15(e) of the Exchange Act) to
ensure that material information required to be disclosed by it
in the reports that it files or submits under the Exchange Act
is recorded, processed, summarized and reported within the time
periods specified in the SEC&#146;s rules and forms and is
accumulated and communicated to the Company&#146;s management as
appropriate to allow timely decisions regarding required
disclosure, and (B)&nbsp;has disclosed,
</DIV>

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<DIV align="left" style="font-size: 10pt;">
based on its most recent evaluation of such disclosure controls
and procedures prior to the date hereof, to the Company&#146;s
auditors and the audit committee of the Company&#146;s Board of
Directors (1)&nbsp;any significant deficiencies and material
weaknesses in the design or operation of internal controls over
financial reporting that are reasonably likely to adversely
affect in any material respect the Company&#146;s ability to
record, process, summarize and report financial information and
(2)&nbsp;any fraud, whether or not material, that involves
management or other employees who have a significant role in the
Company&#146;s internal controls over financial reporting. The
Company has made available to GameStop a summary of any such
disclosure made by management to the Company&#146;s auditors and
audit committee since January&nbsp;1, 2002.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;3.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>No
Undisclosed Liabilities</U>.</I> Neither the Company nor any of
its Subsidiaries has any Liabilities of a nature required by
GAAP to be reflected in a consolidated balance sheet or the
notes thereto, except Liabilities that (i)&nbsp;are accrued or
reserved against in the most recent financial statements
included in the Company SEC Documents filed prior to the date
hereof or are reflected in the notes thereto, (ii)&nbsp;were
incurred in the ordinary course of business since
January&nbsp;29, 2005, (iii)&nbsp;are incurred pursuant to the
transactions contemplated by this Agreement, (iv)&nbsp;have been
discharged or paid in full prior to the date of this Agreement
in the ordinary course of business or (v)&nbsp;would not,
individually or in the aggregate, reasonably be expected to have
a Material Adverse Effect on the Company.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;3.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Information
Supplied</U>.</I> None of the information supplied or to be
supplied by the Company specifically for inclusion or
incorporation by reference in (i)&nbsp;the registration
statement on Form&nbsp;S-4 to be filed with the SEC by Holdco in
connection with the issuance of Holdco Common Stock in the
Mergers (the &#147;<U>Form&nbsp;S-4</U>&#148;) will, at the time
the Form&nbsp;S-4 becomes effective under the Securities Act,
contain any untrue statement of a material fact or omit to state
any material fact required to be stated therein or necessary to
make the statements therein, in light of the circumstances under
which they are made, not misleading or (ii)&nbsp;the Joint Proxy
Statement will, at the date it is first mailed to the
Company&#146;s stockholders and GameStop&#146;s stockholders or
at the time of the Company Stockholders Meeting or the GameStop
Stockholders Meeting, contain any untrue statement of a material
fact or omit to state any material fact required to be stated
therein or necessary in order to make the statements therein, in
light of the circumstances under which they are made, not
misleading. The Joint Proxy Statement will comply as to form in
all material respects with the requirements of the Exchange Act
and the rules and regulations thereunder, except that no
representation or warranty is made by the Company with respect
to statements made or incorporated by reference therein based on
information supplied by GameStop or Holdco specifically for
inclusion or incorporation by reference in the Joint Proxy
Statement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;3.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Absence
of Certain Changes or Events</U>.</I> Since January&nbsp;29,
2005, (a)&nbsp;each of the Company and its Subsidiaries has
conducted its respective operations only in the ordinary course
consistent with past practice, (b)&nbsp;there has not occurred
(i)&nbsp;any fact, event, circumstance, change, condition or
effect (including the incurrence of any Liabilities of any
nature, whether or not accrued, contingent or otherwise) that
has had, or would reasonably be expected to have, individually
or in the aggregate, a Material Adverse Effect on the Company;
(ii)&nbsp;any declaration, setting aside or payment of any
dividend or other distribution (whether in cash, stock or
property) with respect to the equity interests of the Company or
of any of its Subsidiaries other than dividends paid to the
Company or any of its Subsidiaries by a wholly-owned Subsidiary;
or (iii)&nbsp;any material change by the Company or any of its
Subsidiaries in accounting principles or methods, and
(c)&nbsp;neither the Company nor any of its Subsidiaries has
taken any action which, if taken after the date of this
Agreement, would be prohibited by Section&nbsp;5.1 hereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;3.10&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Compliance
with Applicable Laws</U>.</I> (a)&nbsp;Except as disclosed in
the Company SEC Reports, the Company and its Subsidiaries are,
and have been, in compliance with all applicable Laws (including
the Sarbanes-Oxley Act and the USA Patriot Act of 2001), except
where any such non-compliance, individually or in the aggregate,
would not reasonably be expected to have or result in a Material
Adverse Effect on the Company. The operations of the Company and
its Subsidiaries have not been and are not being conducted in
violation of any Permit necessary for the conduct of their
respective businesses as currently conducted, except where any
such violations, individually or in the aggregate, would not
reasonably be expected to have or result in a Material Adverse
Effect on the Company.
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)&nbsp;The Company and its Subsidiaries hold all licenses,
permits, variances, consents, authorizations, waivers, grants,
franchises, concessions, exemptions, orders, registrations and
approvals of Governmental Entities or other Persons
(&#147;<U>Permits</U>&#148;) necessary for the conduct of their
respective businesses as currently conducted, except where the
failure to hold such Permits, individually or in the aggregate,
would not reasonably be expected to have or result in a Material
Adverse Effect on the Company.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;3.11&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Employee
Benefit Plans</U>.</I> (a)&nbsp;Section&nbsp;3.11(a) of the
Company Disclosure Letter sets forth a true and complete list of
(i)&nbsp;each material bonus, pension, profit sharing, deferred
compensation, incentive compensation, stock ownership, stock
purchase, stock option, phantom stock, retirement, vacation,
employment, consulting, disability, death benefit,
hospitalization, medical insurance, life insurance, welfare,
severance or other employee benefit plan, agreement, arrangement
or understanding maintained by the Company or any of its
Subsidiaries or to which the Company or any of its Subsidiaries
contributes or is obligated to contribute or with respect to
which the Company or any of its Subsidiaries has any liability
under any applicable Law, including each multiemployer plan (as
defined in Section&nbsp;4001(a)(3) of the Employee Retirement
Income Security Act of 1974, as amended
(&#147;<U>ERISA</U>&#148;)) and (ii)&nbsp;each change of control
agreement providing benefits under any applicable Law to any
current or former employee, officer or director of the Company
or any of its Subsidiaries, to which the Company or any of its
Subsidiaries is a party or by which the Company or any of its
Subsidiaries is bound (collectively, the &#147;<U>Company
Benefit Plans</U>&#148;).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)&nbsp;With respect to the Company Benefit Plans, no event has
occurred and there exists no condition or set of circumstances
in connection with which the Company or any of its Subsidiaries
would reasonably be expected to be subject to any liability
that, individually or in the aggregate, would reasonably be
expected to have or result in a Material Adverse Effect on the
Company, whether under ERISA, the Code, any other applicable Law
or otherwise.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(c)&nbsp;Neither the Company nor any of its Subsidiaries is a
party to any agreement, contract or arrangement (including this
Agreement) that would reasonably be likely to result, separately
or in the aggregate, in the payment of any &#147;excess
parachute payments&#148; within the meaning of Section&nbsp;280G
of the Code or would otherwise be impermissible under applicable
Law as a result of the consummation of the transactions
contemplated by this Agreement (either alone or in combination
with other events). No Company Benefit Plan provides for the
reimbursement of excise taxes under Section&nbsp;4999 of the
Code or any income taxes under the Code.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(d)&nbsp;All terms and conditions relating to the termination of
employees employed by the Company or its Subsidiaries which
exceed the minimum terms and conditions required by the relevant
local Law have been disclosed in Section&nbsp;3.11(d) of the
Company Disclosure Letter.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(e)&nbsp;The Company and each of its Subsidiaries has complied
with all requirements under applicable Law in relation to
information, notification, consultation and negotiation
requirements with employees, employee representatives, works
councils, trade unions and other employee bodies that arise in
connection with this Agreement, except where any such
non-compliance, individually or in the aggregate, would not
reasonably be expected to have or result in a Material Adverse
Effect on the Company.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;3.12&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Taxes</U>.</I>
(i)&nbsp;The Company and each of its Subsidiaries have filed all
material Tax Returns required to be filed, and all such returns
are materially complete and accurate; (ii)&nbsp;the Company and
each of its Subsidiaries has paid all material Taxes due except
for those Taxes being disputed in good faith through appropriate
proceedings and which are adequately reserved for on the
Company&#146;s financial statements; (iii)&nbsp;there are no
Liens for material Taxes upon the assets of the Company or any
of its Subsidiaries, other than Liens for Taxes not yet due and
Liens for Taxes that are being contested in good faith by
appropriate proceedings; (iv)&nbsp;neither the Company nor any
of its Subsidiaries (A)&nbsp;is a party to any agreement
providing for the allocation, sharing or indemnification of
Taxes or (B)&nbsp;is required to include in income any
adjustment pursuant to Section&nbsp;481 of the Code by reason of
a voluntary change in accounting method initiated by the Company
or a Subsidiary, nor does the Company have any Knowledge that
the IRS has proposed any such adjustment or change in accounting
method; (v)&nbsp;neither the Company nor any of its Subsidiaries
has any liability for Taxes of any Person (other than the Company
</DIV>

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<DIV align="left" style="font-size: 10pt;">
and its Subsidiaries) under Treasury
Regulation&nbsp;Section&nbsp;1.1502-6 (or any comparable
provision of Law as a transferee or successor, by contract, or
otherwise); (vi)&nbsp;neither the Company nor any of its
Subsidiaries has taken any action or knows of any fact,
agreement, plan or other circumstance that is reasonably likely
to prevent the Mergers from qualifying as a transaction
described in Section&nbsp;351 of the Code; (vii)&nbsp;no
deficiencies for any material Taxes have been proposed, asserted
or assessed against the Company or any of its Subsidiaries for
which adequate reserves in accordance with GAAP have not been
created, and, to the Knowledge of the Company, no claim has been
made by a taxing authority in a jurisdiction where the Company
and/or its Subsidiaries do not file Tax Returns that the Company
or any such Subsidiary is or may be subject to taxation by that
jurisdiction; (viii)&nbsp;to the Knowledge of the Company, the
financial statements included in the Company SEC Documents
reflect an adequate reserve in accordance with GAAP for all
Taxes for which the Company or any of its Subsidiaries may be
liable for all taxable periods and portions thereof through the
date hereof; (ix)&nbsp;the Company and each of its Subsidiaries
has withheld and paid all material Taxes required to have been
withheld and paid in connection with any amounts paid or owing
to any employee, independent contractor, creditor, stockholder
or other third party; (x)&nbsp;neither the Company nor any of
its Subsidiaries has distributed stock of another Person, or has
had its stock distributed by another Person, in a transaction
that was purported or intended to be governed in whole or in
part by Section&nbsp;355 or Section&nbsp;361 of the Code;
(xi)&nbsp;neither the Company nor any of its Subsidiaries has
participated in any listed transaction within the meaning of
Treasury Regulation&nbsp;Section&nbsp;1.6011-4, and all
transactions that could give rise to a substantial
understatement of U.S.&nbsp;federal income tax within the
meaning of Section&nbsp;6662 of the Code have been adequately
disclosed in accordance with such section; (xii) (A)&nbsp;there
are no outstanding waivers or consents given by the Company or
its Subsidiaries regarding the application of the statute of
limitations with respect to any Taxes or Tax Returns and
(B)&nbsp;there are no federal, state, local or foreign audits or
other administrative proceedings or court proceedings presently
pending with respect to Taxes or Tax Returns; and
(xiii)&nbsp;there is no contract, agreement, plan or arrangement
covering any Person that, individually or collectively, could
give rise to, nor will the consummation of the transactions
contemplated hereby obligate the Company or any of its
Subsidiaries to make, the payment of any amount that would not
be deductible by the Company or any Subsidiary by reason of
Section&nbsp;280G of the Code. As used in this Agreement,
&#147;<U>Taxes</U>&#148; includes all federal, state or local or
foreign net and gross income, alternative or add-on minimum,
environmental, gross receipts, ad valorem, value added, goods
and services, capital stock, profits, license, single business,
employment, national insurance, social security, severance,
stamp, unemployment, customs, property, sales, excise, use,
occupation, service, transfer, payroll, franchise, withholding
and other taxes or similar governmental duties, charges, fees,
levies or other assessments, including any interest, penalties
or additions with respect thereto and any liability for taxes as
a transferee or successor, by contract or otherwise. As used
herein, &#147;<U>Tax Return</U>&#148; shall mean any return,
report, statement or information required to be filed with any
Governmental Entity with respect to Taxes.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;3.13&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Material
Contracts</U>.</I> Except as would not reasonably be expected to
have, individually or in the aggregate, a Material Adverse
Effect (i)&nbsp;neither the Company nor any of its Subsidiaries
is (and, to the Company&#146;s Knowledge, no other party is) in
breach of or default under any Material Contract,
(ii)&nbsp;neither the Company nor any of its Subsidiaries has
received any written notice or claim of default under any
Material Contract or any written notice of an intention to, and
to the Knowledge of the Company, no other party to any Material
Contract intends to terminate, not renew or challenge the
validity or enforceability of any Material Contract (including
as a result of the execution and performance of this Agreement),
(iii)&nbsp;to the Company&#146;s Knowledge, no event has
occurred that, with or without notice or lapse of time or both,
would result in a breach or a default under any Material
Contract, (iv)&nbsp;each of the Material Contracts is in full
force and effect, and is the valid, binding and enforceable
obligation of the Company and its Subsidiaries, and to the
Company&#146;s Knowledge, of the other parties thereto, and
(v)&nbsp;the Company and its Subsidiaries have performed all
respective material obligations required to be performed by them
to date under the Material Contracts and are not (with or
without the lapse of time or the giving of notice, or both) in
material breach thereunder. &#147;<U>Material Contract</U>&#148;
shall mean any contract that has been or would be required to be
filed by the Company as a material contract pursuant to
Item&nbsp;601(b)(10) of Regulation&nbsp;S-K of the SEC.
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;3.14&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Properties</U>.</I>
Except as would not reasonably be expected to have, individually
or in the aggregate, a Material Adverse Effect on the Company,
the Company or one of its Subsidiaries (i)&nbsp;has good,
transferable, insurable (or similar) and marketable title to all
the properties and assets reflected in the latest audited
balance sheet included in the Company SEC Documents as being
owned by the Company or one of its Subsidiaries or acquired
after the date thereof (except properties sold or otherwise
disposed of since the date thereof in the ordinary course of
business), free and clear of all claims, liens, charges,
security interests or encumbrances of any nature whatsoever,
except (A)&nbsp;statutory liens securing payments not yet due,
(B)&nbsp;such imperfections or irregularities of title, claims,
liens, charges, security interests, easements, covenants and
other restrictions or encumbrances as do not materially affect
the use of the properties or assets subject thereto or affected
thereby or otherwise materially impair business operations at
such properties and (C)&nbsp;mortgages, or deeds of trust,
security interests or other encumbrances on title related to
indebtedness reflected on the consolidated financial statements
of the Company (such liens, imperfections and irregularities in
clauses&nbsp;(A), (B)&nbsp;and (C), &#147;<U>Company Permitted
Liens</U>&#148;), and (ii)&nbsp;is the lessee of all leasehold
estates reflected in the latest audited financial statements
included in the Company SEC Documents or acquired after the date
thereof (except for leases that have expired by their terms
since the date thereof or been assigned, terminated or otherwise
disposed of in the ordinary course of business consistent with
past practice) and is in possession of the properties purported
to be leased thereunder, and each such lease is valid without
default thereunder by the lessee or, to the Company&#146;s
Knowledge, the lessor.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;3.15&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Intellectual
Property</U>.</I> Except as would not, individually or in the
aggregate, reasonably be expected to have a Material Adverse
Effect on the Company, (i)&nbsp;the Company or its Subsidiaries
own free and clear of all claims, liens, charges, security
interests or encumbrances of any nature whatsoever other than
Company Permitted Liens or have a valid license to use all
material Intellectual Property (including any registrations or
applications for registration of any of the foregoing)
(collectively, the &#147;<U>Company Intellectual
Property</U>&#148;) necessary to carry on their business as
currently conducted, (ii)&nbsp;to the Company&#146;s Knowledge,
the Company Intellectual Property does not infringe, imitate,
misappropriate, dilute, violate or otherwise derogate or make
unauthorized use of (&#147;<U>Infringe</U>&#148;) the
intellectual property rights of third parties and is not being
Infringed by any third parties, (iii)&nbsp;to the Knowledge of
the Company, no facts or circumstances exist that would affect
the validity, substance or existence of, or the Company&#146;s
rights in, the Company Intellectual Property, (iv)&nbsp;the
Company and its Subsidiaries have taken reasonable actions to
protect and maintain the Company Intellectual Property,
including the Company Intellectual Property that is confidential
in nature, and (v)&nbsp;there are no claims, suits or other
actions, and to the Knowledge of the Company, no claim, suit or
other action is threatened, that seek to limit or challenge the
validity, enforceability, ownership, or right to use, sell or
license the Company Intellectual Property, nor does the Company
know of any valid basis therefor.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;3.16&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Environmental
Matters</U>.</I> Except as would not, individually or in the
aggregate, reasonably be expected to have a Material Adverse
Effect on the Company, (i)&nbsp;the Company and its Subsidiaries
hold, and are currently, and have been, in continuous compliance
with all applicable permits, licenses, registrations and other
governmental authorizations required under all Laws relating in
any manner to contamination, pollution or protection of human
health, natural resources or the environment
(&#147;<U>Environmental Laws</U>&#148;) for the Company to
conduct its operations (&#147;<U>Environmental
Permits</U>&#148;), and are currently, and have been, otherwise
in continuous compliance with all applicable Environmental Laws,
(ii)&nbsp;to the Company&#146;s Knowledge, the Company and its
Subsidiaries have not received any written notice, claim,
demand, action, suit, complaint, proceeding or other
communication by any person alleging any violation of, or any
actual or potential liability under, any Environmental Laws (an
&#147;<U>Environmental Claim</U>&#148;), and the Company has no
Knowledge of any pending or threatened Environmental Claim,
(iii)&nbsp;no hazardous, dangerous or toxic substance, including
petroleum (including crude oil or any fraction thereof),
asbestos and asbestos-containing materials, lead,
polychlorinated biphenyls, radon, fungus, mold,
urea-formaldehyde insulation and any other material that is
regulated pursuant to any Environmental Laws or that would
reasonably be expected to result in liability under any
Environmental Laws has been generated, transported, treated,
stored, installed, disposed of, arranged to be disposed of,
released or threatened to be released at, on, from or under any
of the properties or facilities currently or formerly owned,
leased or
</DIV>

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<DIV align="left" style="font-size: 10pt;">
otherwise used by the Company or its Subsidiaries, in violation
of, or in a manner or to a location that would reasonably be
expected to give rise to Liability to the Company or its
Subsidiaries under or relating to, any Environmental Laws,
(iv)&nbsp;the reports of environmental assessments, audits and
similar investigations previously made available to GameStop are
all such reports in the possession of the Company or, to the
Company&#146;s Knowledge, otherwise in existence and reasonably
within the control of the Company on any property currently or
formerly owned or operated by the Company or any of its
Subsidiaries and (v)&nbsp;the Company and its Subsidiaries have
not contractually assumed any liabilities or obligations under
or relating to any Environmental Laws.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;3.17&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Transactions
with Affiliates</U>.</I> Except as set forth in the Company SEC
Documents filed prior to the date of this Agreement, there are
no outstanding amounts payable to or receivable from, or
advances by the Company or any of its Subsidiaries to, and
neither the Company nor any of its Subsidiaries is or was
otherwise a creditor or debtor to, or party to or otherwise
bound by any contract, agreement, arrangement, understanding,
undertaking, commitment, obligation or promise, with, any
stockholder holding more than 5% of the outstanding securities
of the Company, director or officer of the Company or any of its
Subsidiaries, or any member of their immediate families, other
than (i)&nbsp;payment of regular salary for services rendered,
(ii)&nbsp;reimbursement for reasonable expenses incurred on
behalf of the Company or its Subsidiaries and (iii)&nbsp;for
other standard employee benefits made generally available to all
employees. Since January&nbsp;29, 2005, there has been no
transaction, or series of similar transactions, agreements,
arrangements or understandings, nor are there any currently
proposed transactions, or series of similar transactions,
agreements, arrangements or understandings to which the Company
or any of its Subsidiaries was or is to be a party, that would
be required to be disclosed under Item&nbsp;404 of
Regulation&nbsp;S-K promulgated under the Securities Act.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;3.18&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Voting
Requirements</U>.</I> The affirmative vote at the Company
Stockholders Meeting of the holders of a majority of the
outstanding shares of Company Common Stock, is the only vote of
the holders of any class or series of the Company&#146;s capital
stock necessary to adopt this Agreement (collectively, the
&#147;<U>Company Stockholder Approval</U>&#148;).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;3.19&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>State
Takeover Statutes</U>.</I> The Board of Directors of the Company
has taken all necessary action so that (i)&nbsp;the restrictions
on &#147;business combinations&#148; set forth in
Section&nbsp;203 of the DGCL are inapplicable to this Agreement,
the Mergers, and the transactions contemplated by this Agreement
and (ii)&nbsp;no &#147;fair price,&#148; &#147;moratorium,&#148;
&#147;control share acquisition&#148; or other anti-takeover Law
(each, a &#147;<U>Takeover Statute</U>&#148;) or any
anti-takeover provision in the Company&#146;s certificate of
incorporation or bylaws is applicable to this Agreement, the
Mergers or the transactions contemplated by this Agreement
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;3.20&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Opinion
of Financial Advisors</U>.</I> The Board of Directors of the
Company has received (i)&nbsp;the opinion of Merrill
Lynch&nbsp;&#38; Co. (&#147;<U>Merrill Lynch</U>&#148;), dated
the date of this Agreement, to the effect that, as of such date
and subject to the considerations set forth therein, the Company
Merger Consideration is fair, from a financial point of view, to
holders of shares of Company Common Stock other than the Kim
Group and (ii)&nbsp;the opinion of Peter J. Solomon Company,
L.P. (&#147;<U>PJSC</U>&#148;), dated the date of this
Agreement, to the effect that, as of such date and subject to
the considerations set forth therein, the Company Merger
Consideration is fair, from a financial point of view, to
holders of shares of Company Common Stock other than the Kim
Group.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;3.21&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Brokers</U>.</I>
Except for Merrill Lynch, Keane Advisors, LLC and PJSC, no
broker, investment banker, financial advisor or other Person is
entitled to any broker&#146;s, finder&#146;s, financial
advisor&#146;s or other similar fee or commission in connection
with the transactions contemplated by this Agreement based upon
arrangements made by or on behalf of the Company or any of its
Subsidiaries.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;3.22&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>No
Negotiations</U>.</I> On November&nbsp;12, 2004 the GameStop
Class&nbsp;B Common Stock was distributed in a transaction
intended to qualify as tax-free under Section&nbsp;355 of the
Code (the &#147;<U>Spin-Off</U>&#148;). The Spin-Off and the
transactions contemplated by this Agreement are not part of a
plan (or series of related transactions) involving the Company
(and to the Knowledge of the Company, involving any other
Person) pursuant to which one or more Persons acquire directly
or indirectly stock representing a 50-percent or greater
interest (measured by voting power or value) in GameStop. (For
purposes of this
</DIV>

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Section&nbsp;3.22, the acquisition of GameStop by Holdco in
accordance with the terms of this Agreement will not be
considered a plan to acquire a 50-percent or greater interest in
GameStop.) In this regard, the Company had no agreement,
understanding, arrangement or Substantial Negotiations with
GameStop or any other Person regarding the transactions
contemplated by this Agreement or similar transactions at any
time prior to November&nbsp;13, 2004. For purposes of this
Agreement, &#147;<U>Substantial Negotiations</U>&#148; include
discussions of significant economic terms (e.g. the exchange
ratio in a reorganization) by one or more officers, directors or
controlling stockholders of GameStop or another Person or
Persons with the implicit or explicit permission of one or more
officers, directors or controlling stockholders of GameStop with
one or more officers, directors or controlling stockholders of
the Company or another Person or Persons with the implicit or
explicit permission of one or more officers, directors or
controlling stockholders of the Company.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
ARTICLE&nbsp;IV
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
REPRESENTATIONS AND WARRANTIES OF GAMESTOP AND HOLDCO
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Except as set forth in the disclosure letter delivered by
GameStop to the Company concurrently with the execution of this
Agreement, which disclosure letter is arranged in paragraphs
corresponding to the numbered and lettered sections contained in
this Article&nbsp;IV (the &#147;<U>GameStop Disclosure
Letter</U>&#148;), GameStop and Holdco hereby represent and
warrant to the Company:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;4.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Organization,
Standing and Corporate Power</U>.</I> Except as set forth in
Section&nbsp;4.1 of the GameStop Disclosure Letter, each of
GameStop and its Subsidiaries is a corporation or other legal
entity duly organized, validly existing and in good standing
under the laws of each jurisdiction in which it is organized and
has the requisite corporate or other power, as the case may be,
and authority to carry on its business as now being conducted.
Each of GameStop and its Subsidiaries is duly qualified or
licensed to do business in each jurisdiction in which the nature
of its business or the ownership, leasing or operation of its
properties makes such qualification or licensing necessary,
except for those jurisdictions where the failure to be so
qualified or licensed would not, individually or in the
aggregate, reasonably be expected to have or result in a
Material Adverse Effect on GameStop. GameStop has made available
to the Company prior to the execution of this Agreement complete
and correct copies of its certificate of incorporation and
bylaws, memorandum and articles of association or other
governing documents of itself and each of its Subsidiaries, each
as amended to the date of this Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;4.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Subsidiaries</U>.</I>
Except as set forth in Section&nbsp;4.2 of the GameStop
Disclosure Letter, all outstanding shares of capital stock of,
or other equity interests in, each Subsidiary of GameStop
(i)&nbsp;have been validly issued and are fully paid and
nonassessable and (ii)&nbsp;are free and clear of all Liens
other than Permitted Liens. All outstanding shares of capital
stock (or equivalent equity interests of entities other than
corporations) of each Subsidiary of GameStop are beneficially
owned, directly or indirectly, by GameStop. No Subsidiary of
GameStop owns, either directly or indirectly, any shares of
capital stock of GameStop. GameStop does not, directly or
indirectly, own capital stock or other equity interest in any
Person other than its Subsidiaries.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;4.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Capital
Structure</U>.</I> (a)&nbsp;GameStop represents and warrants
that the authorized capital stock of GameStop consists entirely
of (i)&nbsp;300,000,000&nbsp;shares of Class&nbsp;A GameStop
Common Stock, (ii)&nbsp;100,000,000&nbsp;shares of GameStop
Class&nbsp;B Common Stock and (iii)&nbsp;5,000,000&nbsp;shares
of preferred stock, par value $0.001&nbsp;per share
(&#147;<U>GameStop Preferred Stock</U>&#148;), of which
500,000&nbsp;shares have been designated Series&nbsp;A Junior
Participating Preferred Stock, par value $.001&nbsp;per share
(&#147;<U>GameStop Series&nbsp;A Preferred Stock</U>&#148;), of
GameStop. Each share of GameStop Class&nbsp;A Common Stock
carries with it an associated share purchase right issued
pursuant to the Rights Agreement between GameStop and The Bank
of New York, as rights agent, dated as of October&nbsp;28, 2004
(as amended from time to time, the &#147;<U>GameStop Rights
Agreement</U>&#148;), which entitles the holder thereof to
purchase, on the occurrence of certain events, Series&nbsp;A
Preferred Stock (the &#147;<U>GameStop Rights</U>&#148;). At the
close of business on April&nbsp;14, 2005
(i)&nbsp;24,563,228&nbsp;shares of GameStop Class&nbsp;A Common
Stock were issued and outstanding, of which
3,262,887&nbsp;shares of GameStop Class&nbsp;A Common Stock were
held by GameStop in its treasury;
</DIV>

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(ii)&nbsp;29,901,662&nbsp;shares of GameStop Class&nbsp;B Common
Stock were issued and outstanding; (iii)&nbsp;no shares of
GameStop Class&nbsp;B Common Stock were held by GameStop in its
treasury; (iv)&nbsp;500,000&nbsp;shares of GameStop
Series&nbsp;A Preferred Stock were reserved for issuance in
connection with the right to purchase GameStop Series&nbsp;A
Preferred Stock pursuant to the terms of the GameStop Rights
Agreement; and (v)&nbsp;approximately 13,124,915&nbsp;shares of
GameStop Class&nbsp;A Common Stock were subject to issued and
outstanding options to purchase GameStop Class&nbsp;A Common
Stock granted under the GameStop Stock Option Plan. All
outstanding shares of capital stock of GameStop are, and all
shares that may be issued will be, when issued, duly authorized,
validly issued, fully paid and nonassessable and not subject to
or issued in violation of preemptive rights.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)&nbsp;Set forth in Section&nbsp;4.3(b) of the GameStop
Disclosure Letter is (i)&nbsp;the authorized capital stock or
other equity interests of each of the Subsidiaries of GameStop
and the issued and outstanding shares or other equity interests
of each of the Subsidiaries of GameStop (including shares of
restricted stock); (ii)&nbsp;shares of stock or other equity
interests held by the relevant Subsidiary of GameStop in its
treasury; (iii)&nbsp;shares or other equity interests of the
relevant Subsidiary of GameStop that were subject to issued and
outstanding options granted under relevant stock option plans;
and (iv)&nbsp;shares of preferred stock of each Subsidiary of
GameStop, if applicable. All outstanding shares of capital stock
or other equity interests of each of the Subsidiaries of
GameStop are, and all shares or other equity interests that may
be issued will be, when issued, duly authorized, validly issued,
fully paid and nonassessable and not subject to or issued in
violation of preemptive rights.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(c)&nbsp;Except as set forth in Section&nbsp;4.3(a) and (b), as
of April&nbsp;14, 2005, (1)&nbsp;there are not issued, reserved
for issuance or outstanding (i)&nbsp;any shares of capital stock
or other voting securities of GameStop or its Subsidiaries,
(ii)&nbsp;any securities convertible into or exchangeable or
exercisable for shares of capital stock or voting securities of
GameStop Subsidiaries, or (iii)&nbsp;any warrants, calls,
options or other rights to acquire from GameStop or any of its
Subsidiaries any capital stock, voting securities or securities
convertible into or exchangeable or exercisable for capital
stock or voting securities of GameStop or any of its
Subsidiaries and (2)&nbsp;there are no outstanding obligations
of GameStop or any of its Subsidiaries to (i)&nbsp;issue,
deliver or sell, or cause to be issued, delivered or sold, any
capital stock, voting securities or securities convertible into
or exchangeable or exercisable for capital stock or voting
securities of GameStop or any of its Subsidiaries or
(ii)&nbsp;repurchase, redeem or otherwise acquire any such
securities.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;4.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Authority</U>.</I>
Each of GameStop and Holdco have all requisite corporate power
and authority to enter into this Agreement and, subject, in the
case of the GameStop Merger, to the GameStop Stockholder
Approval, to consummate or cause the transactions contemplated
by this Agreement. The execution and delivery of this Agreement
by GameStop and Holdco and the consummation by GameStop and
Holdco of the transactions contemplated hereby have been duly
authorized by all necessary corporate action on the part of
GameStop and Holdco, subject, in the case of the GameStop
Merger, to receipt of the GameStop Stockholder Approval. This
Agreement has been duly executed and delivered by each of
GameStop and Holdco and, assuming the due authorization,
execution and delivery by the Company, constitutes the legal,
valid and binding obligation of GameStop and Holdco, enforceable
against GameStop and Holdco in accordance with its terms, except
as the enforcement thereof may be limited by applicable
bankruptcy, insolvency, reorganization, moratorium, fraudulent
conveyance or similar Laws generally affecting the rights of
creditors and subject to general equity principles. The Board of
Directors of GameStop has (i)&nbsp;duly and validly approved
this Agreement, (ii)&nbsp;determined and declared that the
transactions contemplated by this Agreement are advisable and in
the best interests of GameStop and its stockholders,
(iii)&nbsp;resolved to recommend to such stockholders that they
vote in favor of the adoption of this Agreement, and
(iv)&nbsp;approved the Riggio Group Voting Agreement, in each
case subject to Section&nbsp;5.3. GameStop has furnished to the
Company certified copies of the resolutions of the Board of
Directors of GameStop and Holdco approving and adopting this
Agreement, the Mergers and the other transactions contemplated
hereby.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;4.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Non-Contravention;
Consents and Approvals</U>.</I> (a)&nbsp;Except as set forth in
Section&nbsp;4.5(a) of the GameStop Disclosure Letter, the
execution and delivery of this Agreement does not, and the
consummation of the transactions contemplated by this Agreement
and compliance with the
</DIV>

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<DIV align="left" style="font-size: 10pt;">
provisions of this Agreement will not, (i)&nbsp;subject to the
GameStop Stockholder Approval and the filing of the GameStop
Charter Amendment, conflict with the certificate of
incorporation or bylaws (or comparable organizational documents)
of any of GameStop and its Subsidiaries, (ii)&nbsp;result in any
breach, violation or default (with or without notice or lapse of
time, or both) under, or give rise to a right of termination,
cancellation or creation or acceleration of any obligation or
right of a third party or loss of a benefit under, or result in
the creation of any Lien upon any of the properties or assets of
any of GameStop and its Subsidiaries under, any loan or credit
agreement, note, bond, mortgage, indenture or other agreement,
instrument, permit, concession, franchise, lease, license or
other authorization applicable to any of GameStop and its
Subsidiaries or their respective properties or assets or
(iii)&nbsp;subject to the governmental filings and other matters
referred to in Section&nbsp;4.5(b), conflict with or violate any
judgment, order, decree or Law applicable to any of GameStop and
its Subsidiaries or their respective properties or assets, other
than, in the case of clauses&nbsp;(ii) and (iii), any such
conflicts, breaches, violations, defaults, rights, losses or
Liens that, individually or in the aggregate, would not
reasonably be expected to have or result in a Material Adverse
Effect on GameStop and that would not prevent or materially
delay consummation of the Mergers.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)&nbsp;No consent, approval, order or authorization of, action
by or in respect of, or registration, declaration or filing with
any Governmental Entity or any third party is required by
GameStop or any of its Subsidiaries in connection with the
execution and delivery of this Agreement by GameStop and Holdco
or the consummation by GameStop and Holdco of the transactions
contemplated hereby, except for: (i)&nbsp;the GameStop
Stockholder Approval and the filing of the GameStop Charter
Amendment, (ii)&nbsp;the filing with the SEC of (A)&nbsp;the
Joint Proxy Statement and (B)&nbsp;such reports under
Section&nbsp;13(a), 13(d), 15(d) or 16(a) or such other
applicable sections of the Exchange Act, as may be required in
connection with this Agreement and the transactions contemplated
hereby; (iii)&nbsp;the filing of the Certificates of Merger with
the Secretary of State of the State of Delaware; (iv)&nbsp;all
necessary registrations and filings and approvals or waivers
under the Antitrust and Competition Laws, including in respect
of the HSR Filings by the Company, GameStop and any member of
the Kim Group under the HSR Act and any other filings either
required under any other applicable Antitrust and Competition
Laws or that the Company and GameStop deem advisable;
(v)&nbsp;notifications to NASDAQ and, in the case of GameStop,
filings with and approvals of the NYSE to permit the shares of
Holdco Common Stock that are to be issued in the Mergers to be
listed on the NYSE; and (vi)&nbsp;such consents, approvals,
orders or authorizations the failure of which to be made or
obtained, individually or in the aggregate, would not reasonably
be expected to have or result in a Material Adverse Effect on
GameStop and that would not prevent or materially delay
consummation of the Mergers.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;4.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>SEC
Reports and Financial Statements</U>.</I> (a)&nbsp;GameStop has
filed all required reports, schedules, forms, statements and
other documents (including exhibits and all other information
incorporated therein) under the Securities Act and the Exchange
Act with the SEC since February&nbsp;12, 2002 (as such reports,
schedules, forms, statements and documents have been amended
since the time of their filing, collectively, the
&#147;<U>GameStop SEC Documents</U>&#148;). As of their
respective dates, or if amended prior to the date of this
Agreement, as of the date of the last such amendment, the
GameStop SEC Documents complied in all material respects with
the requirements of the Securities Act or the Exchange Act, as
the case may be, and the rules and regulations of the SEC
promulgated thereunder applicable to such GameStop SEC
Documents, and none of the GameStop SEC Documents when filed, or
as so amended, contained any untrue statement of a material fact
or omitted to state a material fact required to be stated
therein or necessary in order to make the statements therein, in
light of the circumstances under which they were made, not
misleading.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)&nbsp;The consolidated financial statements of GameStop
included in the GameStop SEC Documents comply as to form, as of
their respective date of filing with the SEC, in all material
respects with applicable accounting requirements and the
published rules and regulations of the SEC with respect thereto,
have been prepared in accordance with GAAP (except, in the case
of unaudited statements, as permitted by Form&nbsp;10-Q of the
SEC) applied on a consistent basis during the periods involved
(except as may be indicated in the notes thereto), and fairly
present in all material respects the consolidated financial
</DIV>

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position of GameStop and its consolidated subsidiaries as of the
dates thereof and the consolidated statements of income, cash
flows and stockholders&#146; equity for the periods then ended
(subject, in the case of unaudited statements, to normal
recurring year-end audit adjustments). No Subsidiary of GameStop
is required to make any filings with the SEC or any comparable
regulatory authority in any jurisdiction.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(c)&nbsp;GameStop and its Subsidiaries have designed and
maintain a system of internal controls over financial reporting
(as defined in Rules&nbsp;13a-15(f) and 15d-15(f) of the
Exchange Act) sufficient to provide reasonable assurances
regarding the reliability of financial reporting and the
preparation of financial statements for external purposes in
accordance with GAAP. GameStop (A)&nbsp;has designed and
maintains disclosure controls and procedures (as defined in
Rules&nbsp;13a-15(e) and 15d-15(e) of the Exchange Act) to
ensure that material information required to be disclosed by it
in the reports that it files or submits under the Exchange Act
is recorded, processed, summarized and reported within the time
periods specified in the SEC&#146;s rules and forms and is
accumulated and communicated to GameStop&#146;s management as
appropriate to allow timely decisions regarding required
disclosure, and (B)&nbsp;has disclosed, based on its most recent
evaluation of such disclosure controls and procedures prior to
the date hereof, to GameStop&#146;s auditors and the audit
committee of GameStop&#146;s Board of Directors (1)&nbsp;any
significant deficiencies and material weaknesses in the design
or operation of internal controls over financial reporting that
are reasonably likely to adversely affect in any material
respect GameStop&#146;s ability to record, process, summarize
and report financial information and (2)&nbsp;any fraud, whether
or not material, that involves management or other employees who
have a significant role in GameStop&#146;s internal controls
over financial reporting. GameStop has made available to the
Company a summary of any such disclosure made by management to
GameStop&#146;s auditors and audit committee since
January&nbsp;1, 2002.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;4.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>No
Undisclosed Liabilities</U>.</I> Neither GameStop nor any of its
Subsidiaries has any Liabilities of a nature required by GAAP to
be reflected in a consolidated balance sheet or the notes
thereto, except Liabilities that (i)&nbsp;are accrued or
reserved against in the most recent financial statements
included in the GameStop SEC Documents filed prior to the date
hereof or are reflected in the notes thereto, (ii)&nbsp;were
incurred in the ordinary course of business since
January&nbsp;29, 2005, (iii)&nbsp;are incurred pursuant to the
transactions contemplated by the Agreement, (iv)&nbsp;have been
discharged or paid in full prior to the date of this Agreement
in the ordinary course of business or (v)&nbsp;would not,
individually or in the aggregate, reasonably be expected to have
a Material Adverse Effect on GameStop.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;4.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Information
Supplied</U>.</I> None of the information supplied or to be
supplied by GameStop specifically for inclusion or incorporation
by reference in (i)&nbsp;the Form&nbsp;S-4 will, at the time the
Form&nbsp;S-4 becomes effective under the Securities Act,
contain any untrue statement of a material fact or omit to state
any material fact required to be stated therein or necessary to
make the statements therein, in light of the circumstances under
which they are made, not misleading or (ii)&nbsp;the Joint Proxy
Statement will, at the date it is first mailed to the
Company&#146;s stockholders and GameStop&#146;s stockholders or
at the time of the Company Stockholders Meeting or the GameStop
Stockholders Meeting, contain any untrue statement of a material
fact or omit to state any material fact required to be stated
therein or necessary in order to make the statements therein, in
light of the circumstances under which they are made, not
misleading. The Joint Proxy Statement will comply as to form in
all material respects with the requirements of the Exchange Act
and the rules and regulations thereunder, except that no
representation or warranty is made by GameStop with respect to
statements made or incorporated by reference therein based on
information supplied by the other party specifically for
inclusion or incorporation by reference in the Joint Proxy
Statement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;4.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Absence
of Certain Changes or Events</U>.</I> Since January&nbsp;29,
2005, (a)&nbsp;each of GameStop and its Subsidiaries has
conducted its respective operations only in the ordinary course
consistent with past practice, (b)&nbsp;there has not occurred
(i)&nbsp;any fact, event, circumstance, change, condition or
effect (including the incurrence of any Liabilities of any
nature, whether or not accrued, contingent or otherwise) that
has had, or would reasonably be expected to have, individually
or in the aggregate, a Material Adverse Effect on GameStop;
(ii)&nbsp;any declaration, setting aside or payment of any
dividend or other distribution (whether in cash, stock or
property) with respect to the equity interests of GameStop or of
any of its Subsidiaries other than dividends paid to GameStop or
any of its Subsidiaries
</DIV>

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<DIV align="left" style="font-size: 10pt;">
by a wholly-owned Subsidiary; or (iii)&nbsp;any material change
by GameStop or any of its Subsidiaries in accounting principles
or methods, and (c)&nbsp;neither GameStop nor any of its
Subsidiaries has taken any action which, if taken after the date
of this Agreement, would be prohibited by Section&nbsp;5.1
hereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;4.10&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Compliance
with Applicable Laws</U>.</I> (a)&nbsp;Except as disclosed in
the GameStop SEC Documents, GameStop and its Subsidiaries are,
and have been, in compliance with all applicable Laws (including
the Sarbanes-Oxley Act and the USA Patriot Act of 2001), except
where any such non-compliance, individually or in the aggregate,
would not reasonably be expected to have or result in a Material
Adverse Effect on GameStop. The operations of GameStop and its
Subsidiaries have not been and are not being conducted in
violation of any Permit necessary for the conduct of their
respective businesses as currently conducted, except where any
such violations, individually or in the aggregate, would not
reasonably be expected to have or result in a Material Adverse
Effect on GameStop.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)&nbsp;Except as set forth in Section&nbsp;4.10(b) of the
GameStop Disclosure Letter, GameStop and its Subsidiaries hold
all Permits necessary for the conduct of their respective
businesses as currently conducted, except where the failure to
hold such Permits, individually or in the aggregate, would not
reasonably be expected to have or result in a Material Adverse
Effect on GameStop.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;4.11&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Taxes</U>.</I>
Except as set forth in Section&nbsp;4.11 of the GameStop
Disclosure Letter, (i)&nbsp;GameStop and each of its
Subsidiaries have filed all material Tax Returns required to be
filed, and all such returns are materially complete and
accurate; (ii)&nbsp;GameStop and each of its Subsidiaries has
paid all material Taxes due except for those Taxes being
disputed in good faith through appropriate proceedings and which
are adequately reserved for on GameStop&#146;s financial
statements; (iii)&nbsp;there are no Liens for material Taxes
upon the assets of GameStop or any of its Subsidiaries, other
than Liens for Taxes not yet due and Liens for Taxes that are
being contested in good faith by appropriate proceedings;
(iv)&nbsp;neither GameStop nor any of its Subsidiaries
(A)&nbsp;is a party to any agreement providing for the
allocation, sharing or indemnification of Taxes or (B)&nbsp;is
required to include in income any adjustment pursuant to
Section&nbsp;481 of the Code by reason of a voluntary change in
accounting method initiated by GameStop or a Subsidiary, nor
does GameStop have any Knowledge that the IRS has proposed any
such adjustment or change in accounting method; (v)&nbsp;neither
GameStop nor any of its Subsidiaries has any liability for Taxes
of any Person (other than GameStop and its Subsidiaries) under
Treasury Regulation&nbsp;Section&nbsp;1.1502-6 (or any
comparable provision of Law as a transferee or successor, by
contract, or otherwise); (vi)&nbsp;neither GameStop nor any of
its Subsidiaries has taken any action or knows of any fact,
agreement, plan or other circumstance that is reasonably likely
to prevent the Mergers from qualifying as a transaction
described in Section&nbsp;351 of the Code; (vii)&nbsp;no
deficiencies for any material Taxes have been proposed, asserted
or assessed against GameStop or any of its Subsidiaries for
which adequate reserves in accordance with GAAP have not been
created, and, to the Knowledge of GameStop, no claim has been
made by a taxing authority in a jurisdiction where GameStop
and/or its Subsidiaries do not file Tax Returns that GameStop or
any such Subsidiary is or may be subject to taxation by that
jurisdiction; (viii)&nbsp;to the Knowledge of GameStop, the
financial statements included in the GameStop SEC Documents
reflect an adequate reserve in accordance with GAAP for all
Taxes for which GameStop or any of its Subsidiaries may be
liable for all taxable periods and portions thereof through the
date hereof; (ix)&nbsp;GameStop and each of its Subsidiaries has
withheld and paid all material Taxes required to have been
withheld and paid in connection with any amounts paid or owing
to any employee, independent contractor, creditor, stockholder
or other third party; (x)&nbsp;neither GameStop nor any of its
Subsidiaries has distributed stock of another Person, or has had
its stock distributed by another Person, in a transaction that
was purported or intended to be governed in whole or in part by
Section&nbsp;355 or Section&nbsp;361 of the Code;
(xi)&nbsp;neither GameStop nor any of its Subsidiaries has
participated in any listed transaction within the meaning of
Treasury Regulation&nbsp;Section&nbsp;1.6011-4, and all
transactions that could give rise to a substantial
understatement of U.S.&nbsp;federal income tax within the
meaning of Section&nbsp;6662 of the Code have been adequately
disclosed in accordance with such section; (xii) (A)&nbsp;there
are no outstanding waivers or consents given by GameStop or its
Subsidiaries regarding the application of the statute of
limitations with respect to any Taxes or Tax Returns and
(B)&nbsp;there are no federal, state, local or foreign audits or
other administrative proceedings or court proceedings presently
pending with respect to Taxes or Tax Returns; and
(xiii)&nbsp;there
</DIV>

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<DIV align="left" style="font-size: 10pt;">
is no contract, agreement, plan or arrangement covering any
Person that, individually or collectively, could give rise to,
nor will the consummation of the transactions contemplated
hereby obligate GameStop or any of its Subsidiaries to make, the
payment of any amount that would not be deductible by GameStop
or any Subsidiary by reason of Section&nbsp;280G of the Code.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;4.12&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Transactions
with Affiliates</U>.</I> Except as set forth in the GameStop SEC
Documents filed prior to the date of this Agreement, there are
no outstanding amounts payable to or receivable from, or
advances by GameStop or any of its Subsidiaries to, and neither
GameStop nor any of its Subsidiaries is or was otherwise a
creditor or debtor to, or party to or otherwise bound by any
contract, agreement, arrangement, understanding, undertaking,
commitment, obligation or promise, with, any stockholder holding
more than 5% of the outstanding securities of GameStop, director
or officer of GameStop or any of its Subsidiaries, or any member
of their immediate families, other than (i)&nbsp;payment of
regular salary for services rendered, (ii)&nbsp;reimbursement
for reasonable expenses incurred on behalf of GameStop or its
Subsidiaries and (iii)&nbsp;for other standard employee benefits
generally available to all employees. Since January&nbsp;29,
2005, there has been no transaction, or series of similar
transactions, agreements, arrangements or understandings, nor
are there any currently proposed transactions, or series of
similar transactions, agreements, arrangements or understandings
to which GameStop or any of its Subsidiaries was or is to be a
party, that would be required to be disclosed under
Item&nbsp;404 of Regulation&nbsp;S-K promulgated under the
Securities Act.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;4.13&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Financing</U>.</I>
At the time of the execution of this Agreement and at the
Effective Time, either GameStop will have available or GameStop
will have for the purposes of making available to Holdco the
funds on hand, together with funds committed to GameStop
pursuant to executed bank commitment letters previously
furnished to the Company (the &#147;<U>Bank Commitment
Letters</U>&#148;), necessary to pay the aggregate Company Cash
Consideration payable to the holders of Company Common Stock in
connection with the Company Merger and to pay all fees and
expenses in connection with the Mergers.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;4.14&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Voting
Requirements</U>.</I> The affirmative vote at the GameStop
Stockholders Meeting of a majority of the votes entitled to be
cast by the holders of outstanding shares of (i)&nbsp;GameStop
Class&nbsp;A Common Stock and GameStop Class&nbsp;B Common
Stock, voting together as a single class, is the only vote of
the holders of any class or series of GameStop&#146;s capital
stock necessary to adopt this Agreement and (ii)&nbsp;GameStop
Class&nbsp;A Common Stock, voting as a separate class, and
GameStop Class&nbsp;A Common Stock and GameStop Class&nbsp;B
Common Stock, voting together as a single class, is the only
vote of the holders of any class or series of GameStop&#146;s
capital stock necessary to amend GameStop&#146;s Amended and
Restated Certificate of Incorporation (the &#147;<U>GameStop
Charter Amendment</U>&#148;) to permit the payment of the
GameStop Merger Consideration in accordance with the terms
hereof, such amendment to be filed immediately prior to the
Effective Time ((i) and (ii)&nbsp;collectively, the
&#147;<U>GameStop Stockholder Approval</U>&#148; ). In such
vote, the holders of the GameStop Class&nbsp;A Common Stock
shall be entitled to cast one vote per share and the holders of
the GameStop Class&nbsp;B Common Stock shall be entitled to cast
ten votes per share.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;4.15&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Opinion
of Financial Advisors</U>.</I> The Board of Directors of
GameStop has received the opinion of Citigroup Global Markets
Inc. (&#147;<U>Citigroup</U>&#148;), to the effect that, as of
the date of such opinion and subject to the considerations set
forth therein, the Company Merger Consideration is fair, from a
financial point of view, to GameStop.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;4.16&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>State
Takeover Statutes and Rights Plan</U>.</I> The Board of
Directors of GameStop has taken all necessary action so that
(i)&nbsp;the restrictions on &#147;business combinations&#148;
set forth in Section&nbsp;203 of the DGCL are inapplicable to
this Agreement, the Mergers, and the transactions contemplated
by this Agreement, (ii)&nbsp;no Takeover Statute or any
anti-takeover provision in GameStop&#146;s certificate of
incorporation or bylaws is applicable to this Agreement, the
Mergers or the transactions contemplated by this Agreement, and
(iii)&nbsp;no &#147;stock acquisition date,&#148;
&#147;distribution date&#148; or &#147;triggering event&#148;
will occur under the GameStop Rights Plan by virtue of the
execution, delivery or performance of this Agreement by the
parties hereto.
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;4.17&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Brokers</U>.</I>
Except for Citigroup, no broker, investment banker, financial
advisor or other Person is entitled to any broker&#146;s,
finder&#146;s, financial advisor&#146;s or other similar fee or
commission in connection with the transactions contemplated by
this Agreement based upon arrangements made by or on behalf of
GameStop.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;4.18&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Holdco;
Merger Subs</U>.</I> (a)&nbsp;Holdco is a duly incorporated,
validly existing direct, wholly owned Delaware subsidiary of
GameStop, was formed for the purpose of engaging in the
transactions contemplated by this Agreement, and does not have
any subsidiaries, except the Merger Subs, and has not undertaken
any business or other activities other than in connection with
entering into this Agreement and engaging in the transactions.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)&nbsp;The Merger Subs are duly formed, validly existing
direct, wholly owned Delaware subsidiaries of Holdco, were
formed for the purpose of engaging in the transactions
contemplated by this Agreement, and do not have any subsidiaries
and have not undertaken any business or other activities other
than in connection with entering into this Agreement and
engaging in the transactions.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;4.19&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>No
Negotiations</U>.</I> The Spin-Off and the transactions
contemplated by this Agreement are not part of a plan (or series
of related transactions) involving GameStop (and to the
Knowledge of GameStop, involving any other Person) pursuant to
which one or more Persons acquire directly or indirectly stock
representing a 50-percent or greater interest (measured by
voting power or value) in GameStop. For purposes of this
Section&nbsp;4.19, the acquisition of GameStop by Holdco in
accordance with the terms of this Agreement will not be
considered a plan to acquire a 50-percent or greater interest in
GameStop. In this regard, GameStop had no agreement,
understanding, arrangement or Substantial Negotiations with the
Company or any other Person regarding the transactions
contemplated by this Agreement or similar transactions at any
time prior to November&nbsp;13, 2004.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;4.20&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Separation
Agreement</U>.</I> Upon delivery to, and acceptance by,
Barnes&nbsp;&#38; Noble, Inc. (&#147;B&#38;N&#148;) of the
Subsequent Tax Opinion (as defined in and pursuant to the
Separation Agreement, dated January&nbsp;1, 2002, by and between
B&#38;N and GameStop (the &#147;Separation Agreement&#148;)),
the consummation of the transactions contemplated by this
Agreement will not cause GameStop to be in violation of the
Separation Agreement.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
ARTICLE&nbsp;V
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
COVENANTS RELATING TO CONDUCT OF BUSINESS
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;5.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Conduct
of Business</U>.</I> (a)<I>&nbsp;<U>Conduct of Business by the
Company</U>.</I> Except as set forth on Section&nbsp;5.1(a) of
the Company Disclosure Letter and except as otherwise required,
permitted or contemplated by this Agreement or except as
consented to in writing by GameStop, which consent shall not be
unreasonably withheld, conditioned or delayed, during the period
from the date of this Agreement to the Effective Time, the
Company shall, and shall cause each of its Subsidiaries to,
carry on their respective businesses in the ordinary course, and
to the extent consistent therewith, each of the Company and its
Subsidiaries shall use reasonable best efforts to preserve its
business organization intact and maintain its existing relations
with customers, suppliers, vendors, employees, creditors and
business partners. Without limiting the generality of the
foregoing, except as set forth on Section&nbsp;5.1(a) of the
Company Disclosure Letter, except as otherwise required,
permitted or contemplated by this Agreement or except as
consented to in writing by GameStop, which consent shall not be
unreasonably withheld, conditioned or delayed, during the period
from the date of this Agreement to the Effective Time, the
Company shall not and shall not permit any of its Subsidiaries
to:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (i)&nbsp;issue, sell, transfer, pledge, dispose of or encumber
    any additional shares of, or securities convertible into or
    exchangeable for, or options, warrants, calls, commitments or
    rights of any kind to acquire, any shares of capital stock of
    any class of the Company or its Subsidiaries, other than
    issuances pursuant to the exercise of Company Stock Options
    outstanding on the date hereof or pursuant to the ESPP;</TD>
</TR>

</TABLE>

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<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (ii)&nbsp;(A)&nbsp;directly or indirectly, split, combine or
    reclassify the outstanding shares of capital stock of the
    Company, or any outstanding capital stock of any of the
    Subsidiaries of the Company, or (B)&nbsp;redeem, purchase or
    otherwise acquire directly or indirectly any of its capital
    stock;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (iii)&nbsp;declare, set aside or pay any dividend or other
    distribution payable in cash, stock or property with respect to
    its capital stock;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (iv)&nbsp;amend its certificate of incorporation or bylaws (or
    other comparable organizational documents);</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (v)&nbsp;sell, lease, license, mortgage or otherwise encumber or
    subject to any Lien (other than Permitted Liens) or otherwise
    dispose of any of its material properties or material assets;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (vi)&nbsp;incur any long-term indebtedness (whether evidenced by
    a note or other instrument, pursuant to a financing lease,
    sale-leaseback transaction, or otherwise) or incur short-term
    indebtedness other than indebtedness incurred in the ordinary
    course of business or under lines of credit existing on the date
    of this Agreement (or any refinancing thereof not to exceed the
    amount borrowable thereunder);</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (vii)&nbsp;other than in the ordinary course of business and
    consistent with past practice, (A)&nbsp;grant any increase in
    the compensation or benefits payable or to become payable by the
    Company or any of its Subsidiaries to any current or former
    director or consultant of the Company or any of its
    Subsidiaries, (B)&nbsp;grant any increase in the compensation or
    benefits payable or to become payable by the Company or any of
    its Subsidiaries to any officer or employee of the Company or
    any of its Subsidiaries, (C)&nbsp;adopt, enter into, amend or
    otherwise increase, reprice or accelerate the payment or vesting
    of the amounts, benefits or rights payable or accrued or to
    become payable or accrued under any Company Benefit Plan,
    (D)&nbsp;enter into or amend any employment, bonus, severance,
    change in control, retention agreement or any similar agreement
    or any collective bargaining agreement or, grant any severance,
    bonus, termination, or retention pay to any officer, director,
    consultant or employee of the Company or any of its
    Subsidiaries, or (E)&nbsp;pay or award any pension, retirement,
    allowance or other non-equity incentive awards, or other
    employee or director benefit not required by any outstanding
    Company Benefit Plan;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (viii)&nbsp;enter into any transaction, agreement, arrangement
    or understanding between (i)&nbsp;the Company or any of its
    Subsidiaries, on the one hand, and (ii)&nbsp;any Affiliate of
    the Company (other than any Subsidiary of the Company), on the
    other hand, of the type that would be required to be disclosed
    under Item&nbsp;404 of Regulation&nbsp;S-K;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (ix)&nbsp;take any action to cause the Company Common Stock to
    cease to be listed on the NASDAQ National Market prior to the
    Closing Date;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (x)&nbsp;take, or agree to commit to take, or omit to take, any
    action that would make any representation or warranty of the
    Company contained herein inaccurate in any respect at, or as of
    any time prior to, the Effective Time;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (xi)&nbsp;change the accounting methods or principles used by it
    unless required by GAAP (or, if applicable with respect to
    foreign subsidiaries, the relevant foreign generally accepted
    accounting principles) or any Governmental Entity;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (xii)&nbsp;acquire by merging or consolidating with, by
    purchasing any equity interest in or any assets of, or by any
    other manner, any significant business or any corporation,
    partnership, association or other business organization or
    division thereof, or otherwise acquire any assets, in each case
    for a total purchase price in excess of $35,000,000, except for
    the purchase of assets from suppliers or vendors in the ordinary
    course of business;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (xiii)&nbsp;except in the ordinary course of business, make or
    rescind any material express or deemed election, or settle or
    compromise any material claim or action, relating to Taxes, or
    change any of its methods of accounting or of reporting income
    or deductions for Tax purposes in any material respect;</TD>
</TR>

</TABLE>

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<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (xiv)&nbsp;satisfy any material claims or liabilities, other
    than in the ordinary course of business or in accordance with
    their terms;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (xv)&nbsp;make any loans, advances or capital contributions to,
    or investments in, any other Person in excess of $5,000,000 in
    the aggregate, except for (A)&nbsp;loans, advances, capital
    contributions or investments between any Subsidiary of the
    Company and the Company or another Subsidiary of the Company or
    (B)&nbsp;employee advances for expenses in the ordinary course
    of business;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (xvi)&nbsp;other than in the ordinary course of business,
    (A)&nbsp;terminate or adversely modify or amend any contract
    having a duration of more than one year and total payment
    obligations of the Company in excess of $5,000,000 (other than
    (1)&nbsp;contracts terminable within one year or (2)&nbsp;the
    renewal, on substantially similar terms, of any contract
    existing on the date of this Agreement), (B)&nbsp;waive,
    release, relinquish or assign any right or claim of material
    value to the Company, or (C)&nbsp;cancel or forgive any material
    indebtedness owed to the Company or any of its
    Subsidiaries;&nbsp;or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (xvii)&nbsp;authorize, commit or agree to take any of the
    foregoing actions.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)&nbsp;<I><U>Conduct of Business by GameStop</U>.</I> Except
as set forth on Section&nbsp;5.1(b) of the GameStop Disclosure
Letter, except as otherwise required, permitted or contemplated
by this Agreement or except as consented to in writing by the
Company, which consent shall not be unreasonably withheld,
conditioned or delayed, during the period from the date of this
Agreement to the Effective Time, GameStop shall, and shall cause
each of its Subsidiaries to, carry on their respective
businesses in the ordinary course, and to the extent consistent
therewith, each of GameStop and its Subsidiaries shall use
reasonable best efforts to preserve its business organization
intact and maintain its existing relations with customers,
suppliers, vendors, employees, creditors and business partners.
Without limiting the generality of the foregoing, except as set
forth on Section&nbsp;5.1(b) of the GameStop Disclosure Letter,
except as otherwise required, permitted or contemplated by this
Agreement or except as consented to in writing by the Company,
which consent shall not be unreasonably withheld, conditioned or
delayed, during the period from the date of this Agreement to
the Effective Time, GameStop shall not and shall not permit any
Subsidiary of GameStop to:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (i)&nbsp;issue, sell, transfer, pledge, dispose of or encumber
    any additional shares of, or securities convertible into or
    exchangeable for, or options, warrants, calls, commitments or
    rights of any kind to acquire, any shares of capital stock of
    any class of GameStop or its Subsidiaries, other than issuances
    pursuant to the exercise of GameStop Stock Options outstanding
    on the date hereof;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (ii)&nbsp;(A)&nbsp;directly or indirectly, split, combine or
    reclassify the outstanding shares of capital stock of GameStop,
    or any outstanding capital stock of any of the Subsidiaries of
    GameStop, or (B)&nbsp;redeem, purchase or otherwise acquire
    directly or indirectly any of its capital stock;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (iii)&nbsp;acquire by merging or consolidating with, by
    purchasing any substantial equity interest in or a substantial
    portion of the assets of, or by any other manner, any
    significant business or any corporation, partnership,
    association or other business organization or division thereof,
    or otherwise acquire any assets, in each case for a total
    purchase price in excess of $35,000,000, except for the purchase
    of assets from suppliers or vendors in the ordinary course of
    business;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (iv)&nbsp;declare, set aside or pay any dividend or other
    distribution payable in cash, stock or property with respect to
    its capital stock;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (v)&nbsp;amend its certificate of incorporation or bylaws (or
    other comparable organizational documents);</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (vi)&nbsp;sell, lease, license, mortgage or otherwise encumber
    or subject to any Lien (other than Permitted Liens) or otherwise
    dispose of any of its material properties or material assets;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (vii)&nbsp;incur any long-term indebtedness (whether evidenced
    by a note or other instrument, pursuant to a financing lease,
    sale-leaseback transaction, or otherwise) or incur short-term
    indebtedness other than indebtedness incurred in the ordinary
    course of business or under lines of</TD>
</TR>

</TABLE>

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<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    credit existing on the date of this Agreement (or any
    refinancing thereof not to exceed the amount borrowable
    thereunder) or under the Bank Commitment Letters;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (viii)&nbsp;other than in the ordinary course of business and
    consistent with past practice, (A)&nbsp;grant any increase in
    the compensation or benefits payable or to become payable by
    GameStop or any of its Subsidiaries to any current or former
    director or consultant of GameStop or any of its Subsidiaries,
    (B)&nbsp;grant any increase in the compensation or benefits
    payable or to become payable by GameStop or any of its
    Subsidiaries to any officer or employee of GameStop or any of
    its Subsidiaries, (C)&nbsp;adopt, enter into, amend or otherwise
    increase, reprice or accelerate the payment or vesting of the
    amounts, benefits or rights payable or accrued or to become
    payable or accrued under any GameStop Benefit Plan,
    (D)&nbsp;enter into or amend any employment, bonus, severance,
    change in control, retention agreement or any similar agreement
    or any collective bargaining agreement or, grant any severance,
    bonus, termination, or retention pay to any officer, director,
    consultant or employee of GameStop or any of its Subsidiaries,
    or (E)&nbsp;pay or award any pension, retirement, allowance or
    other non-equity incentive awards, or other employee or director
    benefit not required by any outstanding GameStop Benefit Plan;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (ix)&nbsp;enter into any transaction, agreement, arrangement or
    understanding between (i)&nbsp;GameStop or any of its
    Subsidiaries, on the one hand, and (ii)&nbsp;any Affiliate of
    GameStop (other than any Subsidiary of GameStop), on the other
    hand, of the type that would be required to be disclosed under
    Item&nbsp;404 of Regulation&nbsp;S-K;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (x)&nbsp;change the accounting principles used by it unless
    required by GAAP (or, if applicable with respect to foreign
    subsidiaries, the relevant foreign generally accepted accounting
    principles) or any Governmental Entity;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (xi)&nbsp;take any action to cause the GameStop Common Stock to
    cease to be listed on the New York Stock Exchange prior to the
    Closing Date;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (xii)&nbsp;take, or agree to commit to take, or omit to take,
    any action that would make any representation or warranty of
    GameStop contained herein inaccurate in any respect at, or as of
    any time prior to, the Effective Time;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (xiii)&nbsp;except in the ordinary course of business, make or
    rescind any material express or deemed election, or settle or
    compromise any material claim or action, relating to Taxes, or
    change any of its methods of accounting or of reporting income
    or deductions for Tax purposes in any material respect;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (xiv)&nbsp;satisfy any material claims or liabilities, other
    than in the ordinary course of business or in accordance with
    their terms;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (xv)&nbsp;make any loans, advances or capital contributions to,
    or investments in, any other Person in excess of $5,000,000 in
    the aggregate, except for (A)&nbsp;loans, advances, capital
    contributions or investments between any Subsidiary of GameStop
    and GameStop or another Subsidiary of GameStop or
    (B)&nbsp;employee advances for expenses in the ordinary course
    of business;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (xvi)&nbsp;other than in the ordinary course of business,
    (A)&nbsp;terminate or adversely modify or amend any contract
    having a duration of more than one year and total payment
    obligations of GameStop in excess of $5,000,000 (other than
    (1)&nbsp;contracts terminable within one year or (2)&nbsp;the
    renewal, on substantially similar terms, of any contract
    existing on the date of this Agreement), (B)&nbsp;waive,
    release, relinquish or assign any right or claim of material
    value to GameStop, or (C)&nbsp;cancel or forgive any material
    indebtedness owed to GameStop or any of its Subsidiaries;&nbsp;or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (xvii)&nbsp;authorize, commit or agree to take any of the
    foregoing actions.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(c)&nbsp;<I><U>Conduct of Business by Holdco and the Merger
Subs</U>.</I> During the period from the date of this Agreement
to the Effective Time, Holdco and the Merger Subs shall not
engage in any activities of any nature except as provided in or
contemplated by this Agreement.
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(d)&nbsp;<I><U>Advice of Changes</U>.</I> Each of the Company
and GameStop shall promptly advise the other parties to this
Agreement in writing to the extent it has Knowledge of any
change or event having, or which, insofar as can reasonably be
foreseen, would reasonably be expected to have, a Material
Adverse Effect on such party or the ability of the conditions
set forth in Article&nbsp;VII to be satisfied; <U>provided</U>,
<U>however</U>, that no such notification will affect the
representations, warranties, covenants or agreements of the
parties (or remedies with respect thereto) or the conditions to
the obligations of the parties under this Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;5.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>No
Solicitation by the Company</U>.</I> (a)<I>&nbsp;<U>Company
Takeover Proposal</U>.</I> From and after the date of this
Agreement, the Company shall, and shall cause its Subsidiaries
to, and it shall cause any of its and their officers, directors,
employees, financial advisors, attorneys, accountants and other
advisors, investment bankers, representatives and agents
retained by the Company or any of its Subsidiaries
(collectively, &#147;<U>Company Representatives</U>&#148;) to,
immediately cease and cause to be terminated immediately all
existing activities, discussions and negotiations with any
parties conducted heretofore with respect to, or that would
reasonably be expected to lead to, any Company Takeover
Proposal. From and after the date of this Agreement, the Company
shall not, nor shall it permit any of its Subsidiaries to, and
it shall cause any of the Company Representatives not to,
directly or indirectly, (i)&nbsp;solicit, initiate or knowingly
encourage or facilitate any inquiries or the making of a Company
Takeover Proposal, (ii)&nbsp;approve or recommend or propose to
approve or recommend, or enter into any agreement, arrangement
or understanding with respect to any Company Takeover Proposal
(other than a confidentiality agreement entered into in
accordance with the provisions of this Section&nbsp;5.2(a)) or
(iii)&nbsp;other than informing Persons of the existence of the
provisions contained in this Section&nbsp;5.2, participate in
any discussions or negotiations regarding, or furnish or
disclose to any Person (other than a party to this Agreement)
any non-public information or data with respect to the Company
in connection with any inquiries or the making of any proposal
that constitutes, or would reasonably be expected to lead to,
any Company Takeover Proposal; <U>provided</U>, <U>however</U>,
that, at any time prior to obtaining the Company Stockholder
Approval, in response to a Company Takeover Proposal that has
not been solicited, initiated or encouraged by the Company or
any of its Subsidiaries or any Company Representative and that
the Board of Directors of the Company determines in good faith
(after consultation with outside counsel and a financial advisor
of nationally recognized reputation) may reasonably be expected
to constitute or constitutes a Company Superior Proposal, and
which Company Takeover Proposal was made after the date hereof
and did not otherwise result, directly or indirectly, from a
breach of this Section&nbsp;5.2, the Company may, subject to
compliance with this Section&nbsp;5.2(a), directly or indirectly
(i)&nbsp;furnish information with respect to the Company and its
Subsidiaries to the Person making such Company Takeover Proposal
(and its representatives) pursuant to a customary
confidentiality agreement not less restrictive of such Person
than the Confidentiality Agreement is of GameStop;
<U>provided</U>, <U>however</U>, that all such information is,
in substance, provided to GameStop contemporaneously as it is
provided to such Person, and (ii)&nbsp;participate in
discussions or negotiations with the Person making such Company
Takeover Proposal (and its representatives) regarding such
Company Takeover Proposal.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)&nbsp;<I><U>Definitions</U>.</I> As used herein,
(i)&nbsp;&#147;<U>Company Superior Proposal</U>&#148; means a
Company Takeover Proposal from any Person that the Board of
Directors of the Company determines in its good faith judgment
(after consulting with a nationally recognized investment
banking firm and outside counsel), taking into account all
legal, financial and regulatory and other aspects of the
proposal and the Person making the proposal (including any
break-up fees, expense reimbursement provisions and conditions
to consummation), (A)&nbsp;would be more favorable from a
financial point of view to the stockholders of the Company than
the transactions contemplated by this Agreement (including any
adjustment to the terms and conditions proposed by GameStop in
response to such Company Takeover Proposal), (B)&nbsp;for which
financing, to the extent required, is then committed or may
reasonably be expected to be committed and (C)&nbsp;is
reasonably likely to receive all required governmental approvals
on a timely basis and (ii)&nbsp;&#147;<U>Company Takeover
Proposal</U>&#148; means any bona fide written proposal or offer
from any Person relating to any (A)&nbsp;direct or indirect
acquisition or purchase of a business that constitutes 50% or
more of the net revenues, net income or the assets of the
Company and its Subsidiaries, taken as a whole, (B)&nbsp;direct
or indirect acquisition or purchase of equity securities of the
Company representing 50% or more of the
</DIV>

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<DIV align="left" style="font-size: 10pt;">
combined voting power of the Company, (C)&nbsp;any tender offer
or exchange offer that if consummated would result in any Person
beneficially owning equity securities of the Company
representing 50% or more of the combined voting power of the
Company, or (D)&nbsp;any merger, consolidation, business
combination, recapitalization, liquidation, dissolution or
similar transaction involving the Company, other than the
transactions contemplated by this Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(c)&nbsp;<I><U>Actions by the Company</U>.</I> Neither the Board
of Directors of the Company nor any committee thereof shall
(i)&nbsp;(A)&nbsp;withdraw (or modify in a manner adverse to
GameStop), or publicly propose to withdraw (or modify in a
manner adverse to GameStop), the approval recommendation or
declaration of advisability by such Board of Directors or any
such committee thereof of this Agreement, the Company Merger or
the other transactions contemplated by this Agreement or
(B)&nbsp;recommend, adopt or approve, or propose publicly to
recommend, adopt or approve, any Company Takeover Proposal (any
action described in this clause&nbsp;(i) being referred to as a
&#147;<U>Company Adverse Recommendation Change</U>&#148;) or
(ii)&nbsp;approve or recommend, or allow the Company or any of
its Subsidiaries to execute or enter into, any letter of intent,
memorandum of understanding, agreement in principle, merger
agreement, acquisition agreement, option agreement, joint
venture agreement, partnership agreement or other similar
agreement constituting or related to any Company Takeover
Proposal (other than a confidentiality agreement referred to in
Section&nbsp;5.2(a)). Notwithstanding the foregoing, if, prior
to obtaining the Company Stockholder Approval, (I) (1)&nbsp;the
Board of Directors of the Company shall have determined in good
faith, after consultation with outside counsel, that the failure
to make a Company Adverse Recommendation Change would be
inconsistent with the fulfillment of its fiduciary duties or any
other obligations under applicable Law, (2)&nbsp;the Company
provides written notice (a &#147;<U>Notice of Company Adverse
Recommendation</U>&#148;) advising GameStop that the Board of
Directors of the Company has made the determination described in
clause&nbsp;(1) above, (3)&nbsp;for a period of five Business
Days following GameStop&#146;s receipt of a Notice of Company
Adverse Recommendation, the Company negotiates with GameStop in
good faith to make such adjustments to the terms and conditions
of this Agreement as would enable the Company to proceed with
its recommendation of this Agreement and the Mergers and not
make such Company Adverse Recommendation Change, and (4)&nbsp;at
the end of such five-Business Day period the Board of Directors
of the Company maintains its determination described in
clause&nbsp;(1) above (after taking into account such proposed
adjustments to the terms and conditions of this Agreement), or
(II) (v)&nbsp;the Company receives a Company Takeover Proposal,
(w)&nbsp;the Board of Directors of the Company shall have
determined in good faith, after consultation with outside
counsel, that the failure to make a Company Adverse
Recommendation Change would be inconsistent with the fulfillment
of its fiduciary duties or any other obligations under
applicable Law, (x)&nbsp;the Company provides GameStop with a
Notice of Company Adverse Recommendation advising GameStop that
the Board of Directors of the Company has made the determination
described in clause&nbsp;(w) above, (y)&nbsp;for a period of
five Business Days following GameStop&#146;s receipt of a Notice
of Company Adverse Recommendation, the Company negotiates with
GameStop in good faith to make such adjustments to the terms and
conditions of this Agreement as would enable the Company to
proceed with its recommendation of this Agreement and the
Mergers and not make such Company Adverse Recommendation Change,
and (z)&nbsp;at the end of such five-Business Day period the
Board of Directors of the Company maintains its determination
described in clause&nbsp;(w) above (after taking into account
such proposed adjustments to the terms and conditions of this
Agreement), then the Board of Directors of the Company may
(A)&nbsp;make a Company Adverse Recommendation Change and (B),
in the case of clause&nbsp;(II)&nbsp;above where the Company
receives a Company Takeover Proposal, upon termination of this
Agreement in accordance with Section&nbsp;8.1(d)(iii), and
concurrent payment of the Company Termination Fee in accordance
with Section&nbsp;8.3(b), approve and enter into an agreement
relating to a Company Takeover Proposal that constitutes a
Company Superior Proposal. No Company Adverse Recommendation
Change shall change the approval of the Board of Directors of
the Company for purposes of causing the Company&#146;s
certificate of incorporation, any state takeover Law (including
Section&nbsp;203 of the DGCL) or other state Law to be
inapplicable to the Mergers and the other transactions
contemplated by this Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(d)&nbsp;<I><U>Notice of Company Takeover Proposal</U>.</I> From
and after the date of this Agreement, unless the Board of
Directors of the Company shall have determined in good faith,
after consultation with outside
</DIV>

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<DIV align="left" style="font-size: 10pt;">
counsel, that taking such action would result in a reasonable
probability that the Board of Directors of the Company would
breach its fiduciary duties under applicable Law, the Company
shall promptly (but in any event within one Business Day) advise
GameStop and Holdco of the receipt, directly or indirectly, of
any inquiries, requests, discussions, negotiations or proposals
relating to a Company Takeover Proposal, or any request for
nonpublic information relating to any of the Company and its
Subsidiaries by any Person that informs the Company or any
Company Representative that such Person is considering making,
or has made, a Company Takeover Proposal, or an inquiry from a
Person seeking to have discussions or negotiations relating to a
possible Company Takeover Proposal. Any such notice shall be
made orally and confirmed in writing, and shall indicate the
material terms and conditions thereof and the identity of the
other party or parties involved and promptly furnish to GameStop
and Holdco a copy of any such written inquiry, request or
proposal and copies of any material information provided to or
by any third party relating thereto.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(e)&nbsp;<I><U>Rule&nbsp;14e-2(a), Rule&nbsp;14d-9 and Other
Applicable Law</U>.</I> Nothing contained in this
Section&nbsp;5.2 shall prohibit the Company from (i)&nbsp;taking
and disclosing to its stockholders a position contemplated by
Rule&nbsp;14e-2(a) or Rule&nbsp;14d-9 promulgated under the
Exchange Act or (ii)&nbsp;making any disclosure to the
stockholders of the Company if, in the good faith judgment of
the Board of Directors (after consultation with outside
counsel), failure so to disclose would be inconsistent with the
fulfillment of its fiduciary duties or any other obligations
under applicable Law; <U>provided</U>, <U>however</U>, that
compliance with such rules and Laws shall not in any way limit
or modify the effect that any action taken pursuant to such
rules and Laws has under any other provision of this Agreement,
including that such compliance could result in a Company Adverse
Recommendation Change.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(f)&nbsp;<I><U>Return or Destruction of Confidential
Information</U>.</I> The Company agrees that immediately
following the execution of this Agreement it shall request each
Person (other than GameStop) which has heretofore executed a
confidentiality agreement within the past two years in
connection with such Person&#146;s consideration of acquiring
the Company to return or destroy all confidential information
heretofore furnished to such Person by or on the Company&#146;s
behalf.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;5.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>No
Solicitation by GameStop</U>.</I> (a)<I>&nbsp;<U>GameStop
Takeover Proposal</U>.</I> From and after the date of this
Agreement, GameStop shall, and shall cause its Subsidiaries to,
and it shall cause any of its and their officers, directors,
employees, financial advisors, attorneys, accountants and other
advisors, investment bankers, representatives and agents
retained by GameStop or any of its Subsidiaries (collectively,
&#147;<U>GameStop Representatives</U>&#148;) to, immediately
cease and cause to be terminated immediately all existing
activities, discussions and negotiations with any parties
conducted heretofore with respect to, or that would reasonably
be expected to lead to, any GameStop Takeover Proposal. From and
after the date of this Agreement, GameStop shall not, nor shall
it permit any of its Subsidiaries to, and it shall cause any of
GameStop Representatives not to, directly or indirectly,
(i)&nbsp;solicit, initiate or knowingly encourage or facilitate
any inquiries or the making of a GameStop Takeover Proposal,
(ii)&nbsp;approve or recommend or propose to approve or
recommend, or enter into any agreement, arrangement or
understanding with respect to any GameStop Takeover Proposal
(other than a confidentiality agreement entered into in
accordance with the provisions of this Section&nbsp;5.3(a)) or
(iii)&nbsp;other than informing Persons of the existence of the
provisions contained in this Section&nbsp;5.3, participate in
any discussions or negotiations regarding, or furnish or
disclose to any Person (other than a party to this Agreement)
any non-public information or data with respect to GameStop in
connection with any inquiries or the making of any proposal that
constitutes, or would reasonably be expected to lead to, any
GameStop Takeover Proposal; <U>provided</U>, <U>however</U>,
that, at any time prior to obtaining the GameStop Stockholder
Approval, in response to a GameStop Takeover Proposal that has
not been solicited, initiated or encouraged by GameStop or any
of its Subsidiaries or any GameStop Representative and that the
Board of Directors of GameStop determined in good faith (after
consultation with outside counsel and a financial advisor of
nationally recognized reputation) may reasonably be expected to
constitute or constitutes a GameStop Superior Proposal and which
GameStop Takeover Proposal was made after the date hereof and
did not otherwise result, directly or indirectly, from a breach
of this Section&nbsp;5.3, GameStop may, subject to compliance
with this Section&nbsp;5.3(a), directly or indirectly
(i)&nbsp;furnish information with respect to GameStop and its
Subsidiaries to the Person making
</DIV>

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<DIV align="left" style="font-size: 10pt;">
such GameStop Takeover Proposal (and its representatives)
pursuant to a customary confidentiality agreement not less
restrictive of such Person than the Confidentiality Agreement is
of the Company; <U>provided</U>, <U>however</U>, that all such
information is, in substance, provided to the Company
contemporaneously as it is provided to such Person, and
(ii)&nbsp;participate in discussions or negotiations with the
Person making such GameStop Takeover Proposal (and its
representatives) regarding such GameStop Takeover Proposal.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)&nbsp;<I><U>Definitions</U>.</I> As used herein,
(i)&nbsp;&#147;<U>GameStop Superior Proposal</U>&#148; means a
GameStop Takeover Proposal from any Person that the Board of
Directors of GameStop determines in its good faith judgment
(after consulting with a nationally recognized investment
banking firm and outside counsel), taking into account all
legal, financial and regulatory and other aspects of the
proposal and the Person making the proposal (including any
break-up fees, expense reimbursement provisions and conditions
to consummation), (A)&nbsp;would be more favorable to the
stockholders of GameStop than the transactions contemplated by
this Agreement (including any adjustment to the terms and
conditions proposed by the Company in response to such GameStop
Takeover Proposal), (B)&nbsp;for which financing, to the extent
required, is then committed or may reasonably be expected to be
committed and (C)&nbsp;is reasonably likely to receive all
required governmental approvals on a timely basis, and
(ii)&nbsp;a &#147;<U>GameStop Takeover Proposal</U>&#148; means
any bona fide written proposal or offer from any Person relating
to any (A)&nbsp;direct or indirect acquisition or purchase of a
business that constitutes 50% or more of the net revenues, net
income or the assets of GameStop and its Subsidiaries, taken as
a whole, (B)&nbsp;direct or indirect acquisition or purchase of
equity securities of GameStop representing 50% or more of the
combined voting power of GameStop, (C)&nbsp;any tender offer or
exchange offer that if consummated would result in any Person
beneficially owning equity securities of GameStop representing
50% or more of the combined voting power of GameStop, or
(D)&nbsp;any merger, consolidation, business combination,
recapitalization, liquidation, dissolution or similar
transaction involving GameStop, other than the transactions
contemplated by this Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(c)&nbsp;<I><U>Actions by GameStop</U>.</I> Neither the Board of
Directors of GameStop nor any committee thereof shall
(i)&nbsp;(A)&nbsp;withdraw (or modify in a manner adverse to the
Company), or publicly propose to withdraw (or modify in a manner
adverse to the Company), the approval recommendation or
declaration of advisability by such Board of Directors or any
such committee thereof of this Agreement, the GameStop Merger or
the other transactions contemplated by this Agreement or
(B)&nbsp;recommend, adopt or approve, or propose publicly to
recommend, adopt or approve, any GameStop Takeover Proposal (any
action described in this clause&nbsp;(i) being referred to as a
&#147;<U>GameStop Adverse Recommendation Change</U>&#148;) or
(ii)&nbsp;approve or recommend, or allow GameStop or any of its
Subsidiaries to execute or enter into, any letter of intent,
memorandum of understanding, agreement in principle, merger
agreement, acquisition agreement, option agreement, joint
venture agreement, partnership agreement or other similar
agreement constituting or related to any GameStop Takeover
Proposal (other than a confidentiality agreement referred to in
Section&nbsp;5.3(a)). Notwithstanding the foregoing, if, prior
to obtaining the GameStop Stockholder Approval, (I)(1) the Board
of Directors of GameStop shall have determined in good faith,
after consultation with outside counsel, and in the exercise of
its fiduciary duties or any other obligation under applicable
Law, that it should make a GameStop Adverse Recommendation
Change, (2)&nbsp;GameStop provides written notice (a
&#147;<U>Notice of GameStop Adverse Recommendation</U>&#148;)
advising the Company that the Board of Directors of GameStop has
made the determination described in clause&nbsp;(1) above,
(3)&nbsp;for a period of five Business Days following the
Company&#146;s receipt of a Notice of GameStop Adverse
Recommendation, GameStop negotiates with the Company in good
faith to make such adjustments to the terms and conditions of
this Agreement as would enable GameStop to proceed with its
recommendation of this Agreement and the Mergers and not make
such GameStop Adverse Recommendation Change, and (4)&nbsp;at the
end of such five-Business Day period the Board of Directors of
GameStop maintains its determination described in
clause&nbsp;(1) above (after taking into account such proposed
adjustments to the terms and conditions of this Agreement), or
(II) (v)&nbsp;GameStop receives a GameStop Takeover Proposal,
(w)&nbsp;the Board of Directors of GameStop shall have
determined in good faith, after consultation with outside
counsel, and in the exercise of its fiduciary duties or any
other obligation under applicable Law, that it should make a
GameStop Adverse Recommendation Change, (x)&nbsp;GameStop
provides the Company with a Notice of Company Adverse
Recommendation advising the Company that the Board of Directors
of GameStop has made the determination described in
clause&nbsp;(w) above, (y)&nbsp;for a period of five Business
</DIV>

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<DIV align="left" style="font-size: 10pt;">
Days following the Company&#146;s receipt of a Notice of
GameStop Adverse Recommendation, GameStop negotiates with the
Company in good faith to make such adjustments to the terms and
conditions of this Agreement as would enable GameStop to proceed
with its recommendation of this Agreement and the Mergers and
not make such GameStop Adverse Recommendation Change, and
(z)&nbsp;at the end of such five-Business Day period the Board
of Directors of GameStop maintains its determination described
in clause&nbsp;(w) above (after taking into account such
proposed adjustments to the terms and conditions of this
Agreement), then the Board of Directors of GameStop may
(A)&nbsp;make a GameStop Adverse Recommendation Change and (B),
in the case of clause&nbsp;(II)&nbsp;above where GameStop
receives a GameStop Takeover Proposal, upon termination of this
Agreement in accordance with Section&nbsp;8.1(c)(iii) and
concurrent payment of the GameStop Termination Fee in accordance
with Section&nbsp;8.3(c), approve and enter into an agreement
relating to a GameStop Takeover Proposal that constitutes a
GameStop Superior Proposal. No GameStop Adverse Recommendation
Change shall change the approval of the Board of Directors of
GameStop for purposes of causing GameStop&#146;s certificate of
incorporation, any state takeover Law or other state Law to be
inapplicable to the Mergers and the other transactions
contemplated by this Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(d)<I>&nbsp;<U>Notice of GameStop Takeover Proposal</U>.</I>
From and after the date of this Agreement, unless the Board of
Directors of GameStop shall have determined in good faith, after
consultation with outside counsel, that taking such action would
result in a reasonable probability that the Board of Directors
of GameStop would breach its fiduciary duties under applicable
Law, GameStop shall promptly (but in any event within one
Business Day) advise the Company of the receipt, directly or
indirectly, of any inquiries, requests, discussions,
negotiations or proposals relating to a GameStop Takeover
Proposal, or any request for nonpublic information relating to
any of GameStop and its Subsidiaries by any Person that informs
GameStop or any GameStop Representative that such Person is
considering making, or has made, a GameStop Takeover Proposal,
or an inquiry from a Person seeking to have discussions or
negotiations relating to a possible GameStop Takeover Proposal.
Any such notice shall be made orally and confirmed in writing,
and shall indicate the material terms and conditions thereof and
the identity of the other party or parties involved and promptly
furnish to the Company a copy of any such written inquiry,
request or proposal and copies of any material information
provided to or by any third party relating thereto.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(e)<I>&nbsp;<U>Rule&nbsp;14e-2(a), Rule&nbsp;14d-9 and Other
Applicable Law</U>.</I> Nothing contained in this
Section&nbsp;5.3 shall prohibit GameStop from (i)&nbsp;taking
and disclosing to its stockholders a position contemplated by
Rule&nbsp;14e-2(a) or Rule&nbsp;14d-9 promulgated under the
Exchange Act or (ii)&nbsp;making any disclosure to the
stockholders of GameStop if, in the good faith judgment of the
Board of Directors (after consultation with outside counsel),
failure so to disclose would be inconsistent with the
fulfillment of its fiduciary duties or any other obligations
under applicable Law; <U>provided</U>, <U>however</U>, that
compliance with such rules and Laws shall not in any way limit
or modify the effect that any action taken pursuant to such
rules and Laws has under any other provision of this Agreement,
including that such compliance could result in a GameStop
Adverse Recommendation Change.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(f)<I>&nbsp;<U>Return or Destruction of Confidential
Information</U>.</I> GameStop agrees that immediately following
the execution of this Agreement it shall request each Person
(other than GameStop) which has heretofore executed a
confidentiality agreement within the past two years in
connection with such Person&#146;s consideration of acquiring
GameStop to return or destroy all confidential information
heretofore furnished to such Person by or on GameStop&#146;s
behalf.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;5.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Control
of Other Party&#146;s Business</U>.</I> Nothing contained in
this Agreement shall give GameStop, directly or indirectly, the
right to control or direct the operations of the Company or
shall give the Company, directly or indirectly, the right to
control or direct the operations of GameStop prior to the
Effective Time. Prior to the Effective Time, each of GameStop
and the Company shall exercise, consistent with the terms and
conditions of this Agreement, complete control and supervision
over its and its Subsidiaries&#146; respective operations.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;5.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Transition</U>.</I>
In order to facilitate the integration of the operations of the
Company and GameStop and their respective Subsidiaries and to
permit the coordination of their related operations on a
</DIV>

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<DIV align="left" style="font-size: 10pt;">
timely basis, and in an effort to accelerate to the earliest
time possible following the Effective Time the realization of
synergies, operating efficiencies and other benefits expected to
be realized by the parties as a result of the Mergers, each of
the Company and GameStop shall, and shall cause its Subsidiaries
to, consult with the other on strategic and operational matters
to the extent such consultation is not in violation of
applicable Laws, including the Laws regarding the exchange of
information and other Laws regarding competition.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
ARTICLE&nbsp;VI
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
ADDITIONAL AGREEMENTS
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;6.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Preparation
of the Form&nbsp;S-4 and the Joint Proxy Statement; Stockholders
Meetings</U>.</I> (a)<I>&nbsp;<U>Form&nbsp;S-4 Proxy
Statement</U>.</I> As soon as practicable following the date of
this Agreement, the Company and GameStop shall prepare and file
with the SEC the Joint Proxy Statement and Holdco shall prepare,
together with GameStop, and file with the SEC the Form&nbsp;S-4,
in which the Joint Proxy Statement will be included as a
prospectus. Each of GameStop, the Company and Holdco shall use
reasonable best efforts to have the Form&nbsp;S-4 declared
effective under the Securities Act as promptly as practicable
after such filing and to maintain the effectiveness of the
Form&nbsp;S-4 through the Effective Time and to ensure that it
complies in all material respects with the applicable provisions
of the Exchange Act or Securities Act. The Company shall use all
reasonable best efforts to cause the Joint Proxy Statement to be
mailed to the Company&#146;s stockholders, and GameStop shall
use all reasonable best efforts to cause the Joint Proxy
Statement to be mailed to GameStop&#146;s stockholders, in each
case as promptly as practicable after the Form&nbsp;S-4 is
declared effective under the Securities Act. Holdco shall also
take any action (other than qualifying to do business in any
jurisdiction in which it is not now so qualified or to file a
general consent to service of process) required to be taken
under any applicable state securities laws in connection with
the issuance of Holdco Common Stock in the Mergers and the
Company and GameStop shall furnish all information concerning
themselves and their respective stockholders as may be
reasonably requested in connection with any such action. The
Company, in connection with a Company Adverse Recommendation
Change, may amend or supplement the Joint Proxy Statement
(including by incorporation by reference) to effect such a
Company Adverse Recommendation Change. No filing of, or
amendment or supplement to, the Form&nbsp;S-4 will be made by
Holdco, and no filing of, or amendment or supplement to the
Joint Proxy Statement will be made by the Company or GameStop,
in each case, without providing the other parties and their
respective counsel the reasonable opportunity to review and
comment thereon. The parties shall notify each other promptly of
the receipt of any comments from the SEC or its staff and of any
request by the SEC or its staff for amendments or supplements to
the Joint Proxy Statement or the Form&nbsp;S-4 or for additional
information and shall supply each other with copies of all
correspondence between such party or any of its representatives,
on the one hand, and the SEC or its staff, on the other hand,
with respect to the Joint Proxy Statement, the Form&nbsp;S-4 or
the Mergers. Holdco will advise GameStop and the Company
promptly after it receives notice thereof, of the time when the
Form&nbsp;S-4 has become effective, the issuance of any stop
order or the suspension of the qualification of the Holdco
Common Stock issuable in connection with the Mergers for
offering or sale in any jurisdiction. If at any time prior to
the Effective Time any information relating to the Company,
GameStop or Holdco, or any of their respective affiliates,
officers or directors, should be discovered by the Company,
GameStop or Holdco which should be set forth in an amendment or
supplement to the Form&nbsp;S-4 or the Joint Proxy Statement, so
that any of such documents would not include any misstatement of
a material fact or omit to state any material fact necessary to
make the statements therein, in light of the circumstances under
which they were made, not misleading, the party which discovers
such information shall promptly notify the other parties hereto
and the parties shall cooperate in the prompt filing with the
SEC of an appropriate amendment or supplement describing such
information and, to the extent required by Law, in the
disseminating the information contained in such amendment or
supplement to the stockholders of each of the Company and
GameStop.
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)<I>&nbsp;<U>Stockholders Meetings</U>.</I>
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (i)&nbsp;The Company shall, as soon as practicable following the
    date of this Agreement, duly call, give notice of, convene and
    hold a meeting of its stockholders (the &#147;<U>Company
    Stockholders Meeting</U>&#148;) in accordance with applicable
    Law, the Company&#146;s certificate of incorporation and bylaws
    for the purpose of obtaining the Company Stockholder Approval
    and (A)&nbsp;the Board of Directors of the Company shall,
    subject to Section&nbsp;5.2(c), recommend to its stockholders
    the adoption of this Agreement, and the Company shall include in
    the Joint Proxy Statement such recommendation and (B)&nbsp;the
    Company shall use its reasonable best efforts to solicit and
    obtain such approval and adoption.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (ii)&nbsp;GameStop shall, as soon as practicable following the
    date of this Agreement, duly call, give notice of, convene and
    hold a meeting of its stockholders (the &#147;<U>GameStop
    Stockholders Meeting</U>&#148;) in accordance with applicable
    Law, GameStop&#146;s Amended and Restated Certificate of
    Incorporation and bylaws for the purpose of obtaining the
    GameStop Stockholder Approval and (A)&nbsp;the Board of
    Directors of GameStop, shall, subject to Section&nbsp;5.3(c),
    recommend to its stockholders the adoption of this Agreement and
    the GameStop Charter Amendment, and GameStop shall include in
    the Joint Proxy Statement such recommendation and
    (B)&nbsp;GameStop shall use its reasonable best efforts to
    solicit and obtain such approval and adoption.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (iii)&nbsp;Each of GameStop and the Company agrees to use its
    reasonable best efforts to hold the GameStop Stockholders
    Meeting and the Company Stockholders Meeting on the same day.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;6.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Letters
of the Company&#146;s Accountants</U>.</I> The Company shall
request to be delivered to GameStop two letters from the
Company&#146;s independent accountants, one dated a date within
two Business Days before the date on which the Form&nbsp;S-4
will become effective and one dated a date within two Business
Days before the Closing Date, each addressed to GameStop
customary in scope and substance for comfort letters delivered
by independent public accountants in connection with
registration statements similar to the Form&nbsp;S-4.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;6.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Letters
of GameStop&#146;s Accountants</U>.</I> GameStop shall request
to be delivered to the Company two letters from GameStop&#146;s
independent accountants, one dated a date within two Business
Days before the date on which the Form&nbsp;S-4 will become
effective and one dated a date within two Business Days before
the Closing Date, each addressed to the Company customary in
scope and substance for comfort letters delivered by independent
public accountants in connection with registration statements
similar to the Form&nbsp;S-4.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;6.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Access
to Information; Confidentiality</U>.</I> To the extent permitted
by applicable Law and subject to the Confidentiality Agreement,
dated April&nbsp;7, 2005, between the Company and GameStop (the
&#147;<U>Confidentiality Agreement</U>&#148;), each of the
Company and GameStop shall, and shall cause each of its
respective Subsidiaries to, afford to the other party and its
respective representatives reasonable access, during normal
business hours and after reasonable prior notice, during the
period prior to the Effective Time, to such other party&#146;s
and its subsidiaries&#146; properties, books, contracts,
commitments, personnel and records and all other information
concerning their business, properties and personnel as such
party may reasonably request. GameStop and the Company shall
hold, and shall cause their respective affiliates and
representatives to hold, any nonpublic information in accordance
with the terms of the Confidentiality Agreement. Notwithstanding
the foregoing or Section&nbsp;6.5, neither party shall be
required to provide any information which it reasonably believes
it may not provide to the other party by reason of contractual
or legal restrictions, including applicable Law, or which it
believes is competitively sensitive information. Each party will
use reasonable best efforts to minimize any disruption to the
businesses of the other party and its subsidiaries which may
result from the requests for access, data and information
hereunder.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;6.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Reasonable
Best Efforts</U>.</I> (a)&nbsp;Upon the terms and subject to the
conditions set forth in this Agreement, and subject to
Section&nbsp;6.5(c), GameStop and the Company shall use their
reasonable best efforts to take, or cause to be taken, all
actions, and to do, or cause to be done all things necessary,
proper or advisable to consummate and make effective, as
promptly as practicable, the transactions to be
</DIV>

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<DIV align="left" style="font-size: 10pt;">
performed or consummated by such party in accordance with the
terms of this Agreement, including (i)&nbsp;the taking of all
acts necessary to cause the conditions to Closing to be
satisfied as promptly as practicable, (ii)&nbsp;the obtaining of
all necessary actions or nonactions, waivers, consents and
approvals from Governmental Entities and the making of all
necessary registrations and filings (including filings with
Governmental Entities, if any) and the taking of all steps as
may be necessary to obtain an approval or waiver from, or to
avoid an action or proceeding by, any Governmental Entity,
(iii)&nbsp;the execution and delivery of any additional
instruments necessary to consummate the transactions
contemplated hereby and to fully carry out the purposes of this
Agreement, (iv)&nbsp;the obtaining of all necessary consents,
approvals or waivers from third parties, including any such
consents, approvals or waivers required in connection with any
remedy agreement reached with any Governmental Entity,
(v)&nbsp;subject to Section&nbsp;6.5(c), the avoidance or the
negotiated settlement of each and every impediment under any
antitrust, merger control, competition or trade regulation Law
(collectively, the &#147;<U>Antitrust and Competition
Laws</U>&#148;) that may be asserted by any Governmental Entity
with respect to the transactions contemplated by this Agreement,
so as to enable the Closing to occur, and (vi)&nbsp;in the event
that each and every impediment identified in
Section&nbsp;6.5(a)(v) cannot be avoided or otherwise remedied
in accordance with that provision, then the defending of any
lawsuits or other legal proceedings, whether judicial or
administrative, challenging this Agreement or the consummation
of the transactions contemplated hereby, including seeking to
have any injunction, stay or temporary restraining order entered
by any court or other Governmental Entity vacated or reversed.
Notwithstanding the foregoing, in the event that (x)&nbsp;the
parties are required to defend any lawsuits or other legal
proceedings in accordance with clause&nbsp;(vi) above and
(y)&nbsp;one of the parties (the &#147;<U>Objecting
Party</U>&#148;) in good faith does not wish to participate in
the defense of such lawsuits or other legal proceedings, subject
to Section&nbsp;8.1(b)(i), the Objecting Party shall be required
to participate in such defense in accordance with
clause&nbsp;(vi) above as long as the non-objecting party pays
all of the fees, costs and expenses, including attorneys&#146;
fees, incurred in connection with the defense of the lawsuits or
other legal proceedings.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)&nbsp;In connection with and without limiting the foregoing,
GameStop and the Company shall, as promptly as reasonably
practicable and desirable, (A)&nbsp;file with the United States
Federal Trade Commission and the Antitrust Division of the
United States Department of Justice the notification and report
form required under the HSR Act (the &#147;<U>HSR
Filing</U>&#148;); (B)&nbsp;make all notifications or other
filings either required under any other applicable Antitrust and
Competition Laws or that the Company and GameStop deem
advisable, (together with the HSR Filing, the &#147;<U>Antitrust
Filings</U>&#148;), in each case with respect to the
transactions contemplated by this Agreement; and
(C)&nbsp;respond to any formal or informal request for
additional information and documentary material issued under the
Antitrust and Competition Laws, as the parties deem appropriate,
in consultation with one another.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(c)&nbsp;The obligations of GameStop and the Company under
Section&nbsp;6.5(a)(v) are limited in that (i)&nbsp;no
arrangement shall be required to be effective prior to the
Effective Time, and (ii)&nbsp;in no event shall GameStop or the
Company be obligated to agree to any such remedy proposal if the
taking of any action required by that remedy proposal would be
reasonably expected to have, after the Effective Time, a
Material Adverse Effect (without giving effect to
clause&nbsp;(iii), and the final proviso at the end, of the
definition of Material Adverse Effect) on such party.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;6.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>[Intentionally
Omitted]</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;6.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Cooperation</U>.</I>
The parties hereto will consult and cooperate with one another,
and consider in good faith the views of one another in
connection with any analyses, appearances, presentations,
memoranda, briefs, arguments, opinions or proposals made or
submitted by or on behalf of any party hereto in connection with
the Antitrust Filings or any other proceedings under Antitrust
and Competition Laws. Without limiting the generality of the
foregoing, each party shall, subject to applicable Law,
(i)&nbsp;promptly notify the other party of any written
communication to that party from the Antitrust Agencies, any
State Attorney General&#146;s office or any other Governmental
Entity relating to the application of Antitrust and Competition
Laws to this Agreement; (ii)&nbsp;furnish the other party with
copies of all correspondence, filings, and written
communications between the party (including its representatives)
and any Governmental Entity with respect to the transactions
contemplated by this Agreement; and
</DIV>

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<DIV align="left" style="font-size: 10pt;">
(iii)&nbsp;consult with one another with regard to the
appropriate response to any formal or informal inquiries or
requests for additional information or documents received from
either of the Agencies, a State Attorney General&#146;s office
or a foreign Governmental Entity.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;6.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>No
Takeover Statutes Apply</U>.</I> In connection with and without
limiting the foregoing, the Company, GameStop and Holdco shall
(i)&nbsp;take all action reasonably necessary to ensure that no
Takeover Statute or similar Law is or becomes applicable to the
Mergers, this Agreement or any of the other transactions
contemplated hereby and (ii)&nbsp;if any Takeover Statute or
similar Law becomes applicable to the Mergers, this Agreement or
any of the other transactions contemplated hereby, take all
action reasonably necessary to ensure that the Mergers and the
other transactions contemplated hereby may be consummated as
promptly as practicable on the terms contemplated by this
Agreement and otherwise to minimize the effect of such Law on
the Mergers and the other transactions contemplated by this
Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;6.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Tax-Free
Qualification</U>.</I> (a)&nbsp;The Company shall not, and shall
not permit any of its Subsidiaries to, intentionally take or
cause to be taken any action, whether before or after the
Effective Time, that would reasonably be expected to prevent or
impede the exchange of Company Common Stock and GameStop Common
Stock for Holdco Common Stock pursuant to the Mergers, taken
together, from qualifying as a transaction described in
Section&nbsp;351 of the Code.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)&nbsp;GameStop shall not, and shall not permit any of its
Subsidiaries to, intentionally take or cause to be taken any
action, whether before or after the Effective Time, that would
reasonably be expected to prevent or impede the exchange of
Company Common Stock and GameStop Common Stock for Holdco Common
Stock pursuant to the Mergers, taken together, from qualifying
as a transaction described in Section&nbsp;351 of the Code.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;6.10&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Indemnification;
Directors&#146; and Officers&#146; Insurance</U>.</I>
(a)&nbsp;From and after the Effective Time, Holdco shall, to the
fullest extent permitted by applicable law, indemnify, defend
and hold harmless, and provide advancement of expenses to, each
person who is now, or has been at any time prior to the date
hereof or who becomes prior to the Effective Time, an officer,
director or employee of the Company or any of its Subsidiaries
(the &#147;<U>Company Indemnified Parties</U>&#148;) against all
losses, claims, damages, costs, expenses, liabilities or
judgments or amounts that are paid in settlement of or in
connection with any claim, action, suit, proceeding or
investigation based in whole or in part on or arising in whole
or in part out of the fact that such person is or was a
director, officer or employee of the Company or any Subsidiary
of the Company, and pertaining to any matter existing or
occurring, or any acts or omissions occurring, at or prior to
the Effective Time, whether asserted or claimed prior to, or at
or after, the Effective Time (including matters, acts or
omissions occurring in connection with the approval of this
Agreement and the consummation of the transactions contemplated
hereby) to the same extent such persons are indemnified or have
the right to advancement of expenses as of the date hereof by
the Company pursuant to the Company&#146;s Amended and Restated
Certificate of Incorporation, bylaws and indemnification
agreements, if any, in existence on the date hereof with any
directors, officers and employees of the Company and its
Subsidiaries.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)&nbsp;From and after the Effective Time, Holdco shall, to the
fullest extent permitted by applicable law, indemnify, defend
and hold harmless, and provide advancement of expenses to, each
person who is now, or has been at any time prior to the date
hereof or becomes prior to the Effective Time, an officer,
director or employee of GameStop or any of its Subsidiaries (the
&#147;<U>GameStop Indemnified Parties</U>&#148; and, together
with the Company Indemnified Parties, the &#147;<U>Indemnified
Parties</U>&#148;) against all losses, claims, damages, costs,
expenses, liabilities or judgments or amounts that are paid in
settlement of or in connection with any claim, action, suit,
proceeding or investigation based in whole or in part on or
arising in whole or in part out of the fact that such person is
or was a director, officer or employee of GameStop or any
Subsidiary of GameStop, and pertaining to any matter existing or
occurring, or any acts or omissions occurring, at or prior to
the Effective Time, whether asserted or claimed prior to, or at
or after, the Effective Time (including matters, acts or
omissions occurring in connection with the approval of this
Agreement and the consummation of the transactions contemplated
hereby) to the same extent such
</DIV>

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<DIV align="left" style="font-size: 10pt;">
persons are indemnified or have the right to advancement of
expenses as of the date hereof by GameStop pursuant to
GameStop&#146;s Amended and Restated Certificate of
Incorporation, bylaws and indemnification agreements, if any, in
existence on the date hereof with any directors, officers and
employees of GameStop and its Subsidiaries.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(c)&nbsp;For a period of six years after the Effective Time,
Holdco shall cause to be maintained in effect the current
policies of directors&#146; and officers&#146; liability
insurance maintained by the Company (provided that Holdco may
substitute therefor policies with a substantially comparable
insurer of at least the same coverage and amounts containing
terms and conditions that are no less advantageous to the
insured) with respect to claims arising from facts or events
that occurred at or before the Effective Time; <U>provided</U>,
<U>however</U>, that Holdco shall not be obligated to make
annual premium payments for such insurance to the extent such
premiums exceed 300% of the premiums paid as of the date hereof
by the Company for such insurance (&#147;<U>Company&#146;s
Current Premium</U>&#148;), and if such premiums for such
insurance would at any time exceed 300% of the Company&#146;s
Current Premium, then Holdco shall cause to be maintained
policies of insurance that, in Holdco&#146;s good faith
determination, provide the maximum coverage available at an
annual premium equal to 300% of the Company&#146;s Current
Premium.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(d)&nbsp;For a period of six years after the Effective Time,
Holdco shall cause to be maintained in effect the current
policies of directors&#146; and officers&#146; liability
insurance maintained by GameStop (provided that Holdco may
substitute therefor policies with a substantially comparable
insurer of at least the same coverage and amounts containing
terms and conditions that are no less advantageous to the
insured) with respect to claims arising from facts or events
that occurred at or before the Effective Time; <U>provided</U>,
<U>however</U>, that Holdco shall not be obligated to make
annual premium payments for such insurance to the extent such
premiums exceed 300% of the premiums paid as of the date hereof
by GameStop for such insurance (&#147;<U>GameStop&#146;s Current
Premium</U>&#148;), and if such premiums for such insurance
would at any time exceed 300% of the GameStop&#146;s Current
Premium, then Holdco shall cause to be maintained policies of
insurance that, in Holdco&#146;s good faith determination,
provide the maximum coverage available at an annual premium
equal to 300% of GameStop&#146;s Current Premium.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(e)&nbsp;Holdco shall pay (as incurred) all expenses, including
reasonable fees and expenses of counsel, that an Indemnified
Person may incur in enforcing the indemnity and other
obligations provided for in this Section&nbsp;6.10.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(f)&nbsp;If Holdco or any of its successors or assigns
(i)&nbsp;consolidates with or merges into any other Person and
shall not be the continuing or surviving corporation or entity
of such consolidation or merger, or (ii)&nbsp;transfers or
conveys all or substantially all of its properties and assets to
any Person, then, and in each such case, to the extent
necessary, proper provision shall be made so that the successors
and assigns of Holdco, as the case may be, shall assume the
obligations set forth in this Section&nbsp;6.10.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(g)&nbsp;The provisions of this Section&nbsp;6.10 (i)&nbsp;are
intended to be for the benefit of, and shall be enforceable by,
each Indemnified Party, his or her heirs and representatives and
(ii)&nbsp;are in addition to, and not in substitution for, any
other rights to indemnification or contribution that any such
Person may have by contract or otherwise.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;6.11&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Public
Announcements</U>.</I> Holdco and the Company shall consult with
each other before holding any press conferences and before
issuing any press release or other public announcements with
respect to the transactions contemplated by this Agreement,
including the Mergers. The parties will provide each other the
opportunity to review and comment upon any press release or
other public announcement or statement with respect to the
transactions contemplated by this Agreement, including the
Mergers, and shall not issue any such press release or other
public announcement or statement prior to such consultation,
except as, in the reasonable judgment of the relevant party
based upon advice of legal counsel, may be required by
applicable Law, court process or by obligations pursuant to any
listing agreement with any national securities exchange or
application with any interdealer quotation system. The parties
agree that the initial press release or releases to be issued
with respect to the transactions contemplated by this Agreement
shall be mutually agreed upon prior to the issuance thereof.
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;6.12&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Affiliates</U>.</I>
Each of the Company and GameStop shall use all reasonable
efforts to cause each Person who is an &#147;affiliate&#148;
(for purposes of Rule&nbsp;145 under the Securities Act) to
deliver to Holdco, as soon as reasonably practicable and in any
event prior to the Company Stockholders Meeting or the GameStop
Stockholders Meeting, as applicable, a written agreement in a
form and substance mutually agreeable to the Company and
GameStop, pursuant to which each Person shall covenant and agree
not to sell, transfer, or otherwise dispose of the Holdco Common
Stock received by such Person in the Mergers except in
compliance with the requirements of Rule&nbsp;145 promulgated
under the Securities Act as well as other matters customarily
addressed in such affiliate letter agreements.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;6.13&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>NYSE
Listing</U>.</I> Holdco and GameStop shall use all reasonable
best efforts to cause the shares of Holdco Common Stock to be
issued in the Mergers and pursuant to Section&nbsp;2.9 as
contemplated by this Agreement to be approved for listing on the
NYSE, subject to official notice of issuance, as promptly as
practicable after the date of this Agreement, and in any event
prior to the Closing Date.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;6.14&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Stockholder
Litigation</U>.</I> The parties to this Agreement shall
cooperate and consult with one another in connection with any
stockholder litigation against any of them or any of their
respective directors or officers with respect to the
transactions contemplated by this Agreement. In furtherance of
and without in any way limiting the foregoing, each of the
parties shall use its respective reasonable best efforts to
prevail in such litigation so as to permit the consummation of
the transactions contemplated by this Agreement in the manner
contemplated by this Agreement. Notwithstanding the foregoing,
the Company agrees that it will not compromise or settle any
litigation commenced against it or its directors and officers
relating to this Agreement or the transactions contemplated
hereby (including the Mergers) without GameStop&#146;s prior
written consent, not to be unreasonably withheld or delayed.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;6.15&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Section&nbsp;16
Matters</U>.</I> Assuming that the Company and GameStop deliver
to Holdco the Section&nbsp;16 Information reasonably in advance
of the Effective Time, the Board of Directors of Holdco, or a
committee of Non-Employee Directors thereof (as such term is
defined for purposes of Rule&nbsp;16b-3(d) under the Exchange
Act), shall reasonably promptly thereafter and in any event
prior to the Effective Time adopt a resolution providing that
the receipt by the Insiders of the Company and GameStop of
Holdco Common Stock in exchange for shares of Company Common
Stock or shares of GameStop Common Stock, as the case may be,
pursuant to the transactions contemplated hereby and to the
extent such securities are listed in the Section&nbsp;16
Information provided by the Company and GameStop to Holdco prior
to the Effective Time, are intended to be exempt from liability
pursuant to Section&nbsp;16(b) under the Exchange Act such that
any such receipt shall be so exempt. &#147;<U>Section&nbsp;16
Information</U>&#148; shall mean information accurate in all
material respects regarding the Insiders of a Person, the number
of shares of the capital stock held by each such Insider, and
the number and description of options, stock appreciation
rights, restricted shares and other stock-based awards held by
each such Insider. &#147;<U>Insiders</U>&#148;, with respect to
a Person, shall mean those officers and directors of such Person
who are subject to the reporting requirements of
Section&nbsp;16(a) of the Exchange Act and who are listed in the
Section&nbsp;16 Information.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;6.16&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Employee
Benefit Plans</U>.</I> (a)&nbsp;GameStop and the Company agree
that, except as otherwise provided herein (including as set
forth in Section&nbsp;6.16(a) of the Company Disclosure Letter)
and unless otherwise mutually determined, the Company Benefit
Plans and any plans, agreements, arrangements or understandings
analogous to the Company Benefit Plans (collectively, the
&#147;<U>Benefit Plans</U>&#148;) which are maintained by
GameStop or any of its Subsidiaries or to which GameStop or any
of its Subsidiaries contributes or is obligated to contribute or
with respect to which GameStop or any of its Subsidiaries has
any liability or to which GameStop or any of its Subsidiaries is
a party or by which GameStop or any of its Subsidiaries is bound
(collectively, the &#147;<U>GameStop Benefit Plans</U>&#148;) in
effect at the date hereof shall remain in effect after the
Effective Time with respect to employees covered by such Benefit
Plans at the Effective Time, until such time as Holdco shall
otherwise determine, subject to applicable Law and the terms of
such Benefit Plans. Prior to and following the Effective Time,
the parties shall cooperate in good faith to formulate Benefit
Plans for Holdco and its Subsidiaries, with respect both to
employees who were covered by the Company Benefit Plans and
GameStop Benefit Plans at the
</DIV>

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<DIV align="left" style="font-size: 10pt;">
Effective Time and employees who were not covered by such
Benefit Plans at the Effective Time, that provide benefits for
services on a basis that does not discriminate between employees
who were covered by the Company Benefit Plans and employees who
were covered by the GameStop Benefit Plans. For purposes of this
Section&nbsp;6.16, all references to employees of Holdco means
employees of Holdco or any of its Subsidiaries.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)&nbsp;With respect to any Benefit Plans in which any Holdco
employees who are employees of the Company or GameStop (or their
Subsidiaries) prior to the Effective Time first become eligible
to participate on or after the Effective Time, and in which such
Holdco or any of its Subsidiaries employees did not participate
prior to the Effective Time (the &#147;<U>New Plans</U>&#148;),
Holdco shall: (i)&nbsp;waive all pre-existing conditions,
exclusions and waiting periods with respect to participation and
coverage requirements applicable to the Holdco employees and
their eligible dependents under any New Plans in which such
employees may be eligible to participate after the Effective
Time, except to the extent such pre-existing conditions,
exclusions or waiting periods would apply under the analogous
Company Benefit Plan or GameStop Benefit Plan, as the case may
be; (ii)&nbsp;provide each Holdco employee and their eligible
dependents with credit for any co-payments and deductibles paid
prior to the Effective Time under a Company Benefit Plan or
GameStop Benefit Plan (to the same extent that such credit was
given under the analogous Benefit Plan prior to the Effective
Time) in satisfying any applicable deductible or out-of-pocket
requirements under any New Plans in which such employees may be
eligible to participate after the Effective Time; and
(iii)&nbsp;recognize all service of the Holdco employees with
the Company or GameStop, and their respective affiliates, for
all purposes (including, purposes of eligibility to participate,
vesting credit, entitlement to benefits, and, except with
respect to defined benefit pension plans, benefit accrual) in
any New Plan in which such employees may be eligible to
participate after the Effective Time, to the extent such service
is taken into account under the applicable New Plan and only to
the extent such service was credited under the analogous Benefit
Plan prior to the Effective Time; provided that the foregoing
shall not apply to the extent it would result in duplication of
benefits.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(c)&nbsp;With respect to Benefit Plans maintained or contributed
to outside the United States for the benefit of non-United
States citizens or residents, the principles set forth in the
preceding paragraph of this Section&nbsp;6.16 shall apply to the
extent the application of such principles does not violate
applicable foreign law.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;6.17&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Governance</U>.</I>
(a)&nbsp;On or prior to the Effective Time, Holdco&#146;s Board
of Directors shall cause the number of directors that will
comprise the full Board of Directors of Holdco at the Effective
Time to be at least nine. The members of the initial Board of
Directors of Holdco at the Effective Time shall be comprised of
at least (i)&nbsp;members of GameStop&#146;s Board of Directors
at the Effective Time, (ii)&nbsp;Mr.&nbsp;James J. Kim who shall
belong to the class of directors designated as Class&nbsp;II in
accordance with the Amended and Restated Holdco Charter (or such
other class of directors that as of the Closing Date has the
second longest term pursuant to the Amended and Restated Holdco
Charter) and (iii)&nbsp;an additional director who shall qualify
as an independent director (as that term is defined in
Item&nbsp;7(d)(3)(iv) of Schedule&nbsp;14A under the Exchange
Act), designated by the Board of Directors of the Company and
reasonably satisfactory to GameStop and which individual shall
belong to the class of directors designated as Class&nbsp;III in
accordance with the Amended and Restated Holdco Charter (or such
other class of directors that as of the Closing Date has the
longest term pursuant to the Amended and Restated Holdco
Charter).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)&nbsp;On or prior to the Effective Time, the Holdco Board of
Directors shall take such actions as are necessary to cause the
officers of GameStop at the Effective Time to be elected or
appointed to the same offices of Holdco as of the Effective Time.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;6.18&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Rights
Agreement</U>.</I> GameStop shall take all necessary action
prior to the Effective Time to cause the dilution provisions of
the GameStop Rights Agreement to be amended so that no
&#147;distribution date,&#148; &#147;stock acquisition
date,&#148; &#147;triggering event,&#148; &#147;flip-in
event,&#148; &#147;flip-over event&#148; or similar event shall
occur by virtue of the execution, delivery or performance of
this Agreement or the Voting Agreements, and so that
</DIV>

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<DIV align="left" style="font-size: 10pt;">
the GameStop Rights Agreement is otherwise inapplicable to the
transactions contemplated by this Agreement and the Voting
Agreements, without any payment to the holders of the GameStop
Rights.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;6.19&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Tax
Opinion</U>.</I> Officers of GameStop, the Company, and such
other Persons as may reasonably be requested by tax counsel
shall execute and deliver to Bryan Cave LLP, counsel to GameStop
(&#147;<U>Bryan Cave</U>&#148;), and/or Klehr, Harrison, Harvey,
Branzburg&nbsp;&#38; Ellers LLP, counsel to the Company
(&#147;<U>Klehr Harrison</U>&#148;), such appropriate
officer&#146;s certificates or other letters of representation
at such time or times as may reasonably be requested by such tax
counsel in connection with the delivery of such tax
counsel&#146;s opinion to be delivered under this Agreement.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
ARTICLE&nbsp;VII
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
CONDITIONS PRECEDENT
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;7.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Conditions
to Each Party&#146;s Obligation to Effect the Mergers</U>.</I>
The respective obligation of each party to effect the Mergers is
subject to the satisfaction or waiver on or prior to the Closing
Date of the following conditions:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

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    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (a)<I>&nbsp;<U>Stockholder Approvals</U>.</I> Each of the
    Company Stockholder Approval and the GameStop Stockholder
    Approval shall have been obtained and the GameStop Charter
    Amendment shall have been filed with the Secretary of State of
    the State of Delaware and shall have become effective.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (b)<I>&nbsp;<U>No Orders or Injunctions</U>.</I> None of the
    parties hereto shall be subject to any order or injunction of
    any Governmental Entity of competent jurisdiction that prohibits
    the consummation of the Mergers; <U>provided</U>,
    <U>however</U>, that prior to asserting this condition, each of
    the parties shall have used its reasonable best efforts to
    prevent the entry of any such order or injunction and to appeal
    as promptly as possible any such order or injunction that may be
    entered.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (c)<I>&nbsp;<U>Form&nbsp;S-4</U>.</I> The Form&nbsp;S-4 shall
    have become effective under the Securities Act and shall not be
    the subject of any stop order or proceedings seeking a stop
    order.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (d)<I>&nbsp;<U>Antitrust and Competition Laws</U>.</I> All
    consents, approvals, waivers, actions or nonactions required or
    advisable under all applicable Antitrust and Competition laws
    shall have been obtained, including the expiration or early
    termination of the applicable waiting periods under the HSR Act.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (e)<I>&nbsp;<U>NYSE Listing</U>.</I> The shares of Holdco Common
    Stock issuable in connection with the Mergers as contemplated by
    this Agreement shall have been approved for listing on the NYSE,
    subject to official notice of issuance.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (f)<I>&nbsp;<U>Subsequent Tax Opinion</U>.</I> Either Bryan Cave
    or another law firm selected by GameStop shall have delivered to
    Barnes&nbsp;&#38; Noble, Inc. a Subsequent Tax Opinion (as
    defined in and pursuant to the Separation Agreement).</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;7.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Conditions
to Obligations of GameStop and Holdco</U>.</I> The obligation of
GameStop and Holdco to effect the Mergers is further subject to
satisfaction or waiver of the following conditions:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

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<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (a)<I>&nbsp;<U>Representations and Warranties</U>.</I> The
    representations and warranties of the Company set forth herein
    shall be true and correct in all respects (without giving effect
    to any materiality or Material Adverse Effect qualifications
    contained therein) both when made and at and as of the Closing
    Date, as if made at and as of such time (except to the extent
    expressly made as of an earlier date, in which case as of such
    date), except where the failure of such representations and
    warranties to be so true and correct would not reasonably be
    expected to have or result in, individually or in the aggregate,
    a Material Adverse Effect on the Company.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (b)<I>&nbsp;<U>Performance of Obligations of the
    Company</U>.</I> The Company shall have performed in all
    material respects all of its obligations required to be
    performed by it under this Agreement at or prior to the Closing
    Date.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">A-40

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<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

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    <TD width="97%"></TD>
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    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (c)<I>&nbsp;<U>Officer&#146;s Certificate</U>.</I> The Company
    shall have furnished GameStop with a certificate dated the
    Closing Date signed on its behalf by an executive officer to the
    effect that the conditions set forth in Sections&nbsp;7.2(a) and
    7.2(b) have been satisfied.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (d)<I>&nbsp;<U>Additional Agreements</U>.</I> Holdco shall have
    received an executed copy of a non-competition agreement, in
    form and substance reasonably satisfactory to Holdco, among
    Holdco, the Company and James J. Kim.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (e)<I>&nbsp;<U>Tax Opinion</U>.</I> GameStop shall have received
    the opinion of Bryan Cave, dated the Closing Date, to the effect
    that the exchange of GameStop Common Stock and Company Common
    Stock for Holdco Common Stock pursuant to the Mergers, taken
    together, will be treated for Federal income tax purposes as a
    transaction described in Section&nbsp;351 and/or
    Section&nbsp;368 of the Code; <U>provided</U>, <U>however</U>,
    in the event that Bryan Cave does not deliver an opinion
    pursuant to this Section&nbsp;7.2(e), such condition shall
    deemed to be satisfied if Klehr Harrison delivers such opinion
    substantially to the same effect. In rendering such opinion,
    counsel to GameStop shall be entitled to rely upon customary
    representations and assumptions provided by Holdco, the Company,
    GameStop and others that counsel to GameStop reasonably deems
    relevant.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (f)<I>&nbsp;<U>Material Adverse Effect</U>.</I> From the date of
    this Agreement through the Effective Time, there shall not have
    occurred any change in the financial condition, business or
    operations of the Company and its Subsidiaries, taken as a
    whole, that would have or would be reasonably likely to have a
    Material Adverse Effect on the Company.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;7.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Conditions
to Obligations of the Company</U>.</I> The obligation of the
Company to effect the Mergers is further subject to satisfaction
or waiver of the following conditions:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

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<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (a)<I>&nbsp;<U>Representations and Warranties</U>.</I> The
    representations and warranties of GameStop and Holdco set forth
    herein shall be true and correct in all respects (without giving
    effect to any materiality or Material Adverse Effect
    qualifications contained therein) both when made and at and as
    of the Closing Date, as if made at and as of such time (except
    to the extent expressly made as of an earlier date, in which
    case as of such date), except where the failure of such
    representations and warranties to be so true and correct would
    not reasonably be expected to have or result in, individually or
    in the aggregate, a Material Adverse Effect on GameStop and
    Holdco.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (b)<I>&nbsp;<U>Performance of Obligations of GameStop and
    Holdco</U>.</I> Each of GameStop and Holdco shall have performed
    in all material respects all obligations required to be
    performed by it under this Agreement at or prior to the Closing
    Date.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (c)<I>&nbsp;<U>Officer&#146;s Certificate</U>.</I> Each of
    GameStop and Holdco shall have furnished the Company with a
    certificate dated the Closing Date signed on its behalf by an
    executive officer to the effect that the conditions set forth in
    Sections&nbsp;7.3(a) and 7.3(b) have been satisfied.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (d)<I>&nbsp;<U>Tax Opinion</U>.</I> The Company shall have
    received the opinion of Klehr Harrison, dated the Closing Date,
    to the effect that the exchange of Company Common Stock and
    GameStop Common Stock for Holdco Common Stock pursuant to the
    Mergers, taken together, will be treated for Federal income tax
    purposes as a transaction described in Section&nbsp;351 of the
    Code; <U>provided</U>, <U>however</U>, in the event that Klehr
    Harrison does not deliver an opinion pursuant to this
    Section&nbsp;7.3(d), such condition shall deemed to be satisfied
    if Bryan Cave delivers such opinion substantially to the same
    effect. In rendering such opinion, counsel to the Company shall
    be entitled to rely upon customary representations and
    assumptions provided by Holdco, the Company, GameStop and others
    that counsel to the Company reasonably deems relevant.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (e)<I>&nbsp;<U>Material Adverse Effect</U>.</I> From the date of
    this Agreement through the Effective Time, there shall not have
    occurred any change in the financial condition, business or
    operations of GameStop and its Subsidiaries, taken as a whole,
    that would have or would be reasonably likely to have a Material
    Adverse Effect on GameStop.</TD>
</TR>

</TABLE>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;7.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Frustration
of Closing Conditions</U>.</I> Neither GameStop, nor Holdco nor
the Company may rely on the failure of any condition set forth
in Section&nbsp;7.2 or 7.3, as the case may be, to be satisfied
if such failure was caused by such party&#146;s failure to
comply with its obligations to consummate the Mergers and the
other transactions contemplated by this Agreement, as required
by and subject to Section&nbsp;6.5.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
ARTICLE&nbsp;VIII
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
TERMINATION
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;8.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Termination</U>.</I>
(a)&nbsp;<I><U>Termination by Mutual Consent</U>.</I> This
Agreement may be terminated at any time prior to the Effective
Time, whether before or after the Company Stockholder Approval
or the GameStop Stockholder Approval, by mutual written consent
of GameStop, Holdco and the Company.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)<I>&nbsp;<U>Termination by GameStop or the Company</U>.</I>
This Agreement may be terminated at any time prior to the
Effective Time, whether before or after the Company Stockholder
Approval or the GameStop Stockholder Approval, by written notice
of either GameStop or the Company:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

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<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (i)&nbsp;if the Mergers have not been consummated by
    October&nbsp;31, 2005, or such later date, if any, as GameStop
    and the Company agree upon in writing (as such date may be
    extended, the &#147;<U>Outside Date</U>&#148;); <U>provided</U>,
    <U>however</U>, that the right to terminate this Agreement
    pursuant to this Section&nbsp;8.1(b)(i) is not available to any
    party whose breach of any provision of this Agreement results in
    or causes the failure of the Mergers to be consummated by such
    time; <U>provided</U> <U>further</U>, <U>however</U>, that if on
    the Outside Date the conditions to the Closing set forth in
    Sections&nbsp;7.1(b) or 7.1(d) shall not have been fulfilled
    (and Section&nbsp;8.1(b)(iv) is not applicable) but all other
    conditions to the Closing either have been fulfilled or are then
    capable of being fulfilled, then the Outside Date shall, without
    any action on the part of the parties hereto, be extended to
    December&nbsp;31, 2005, and such date shall become the Outside
    Date for purposes of this Agreement; <U>provided</U>
    <U>further</U>, <U>however</U>, that if GameStop reasonably
    anticipates that the Mergers will not be consummated by
    December&nbsp;31, 2005, GameStop shall negotiate in good faith
    with the lenders set forth in the Bank Commitment Letters to
    receive an extension of the Bank Commitment Letters until
    January&nbsp;31, 2006 (or such later date as mutually agreed to
    by GameStop and the Company) on terms no less favorable to
    GameStop than those set forth in the Bank Commitment Letters,
    and, if such negotiations are successful, such date shall become
    the Outside Date for purposes of this Agreement;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (ii)&nbsp;if the Company Stockholders Meeting (including any
    adjournment or postponement thereof) has concluded, the
    Company&#146;s stockholders have voted and the Company
    Stockholder Approval was not obtained;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (iii)&nbsp;if the GameStop Stockholders Meeting (including any
    adjournment or postponement thereof) has concluded,
    GameStop&#146;s stockholders have voted and the GameStop
    Stockholder Approval was not obtained;&nbsp;or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (iv)&nbsp;if any Governmental Entity of competent jurisdiction
    issues an order or injunction that permanently prohibits the
    Mergers and such order or injunction has become final and
    non-appealable.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(c)<I>&nbsp;<U>Termination by GameStop</U>.</I> This Agreement
may be terminated at any time prior to the Effective Time,
whether before or after the Company Stockholder Approval or the
GameStop Stockholder Approval, by written notice of GameStop:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

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    <TD width="97%"></TD>
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    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (i)&nbsp;if the Company (A)&nbsp;has breached or failed to
    perform any of its covenants or other agreements contained in
    this Agreement to be complied with by the Company such that the
    closing condition set forth in Section&nbsp;7.2(b) would not be
    satisfied or (B)&nbsp;there exists a breach of any
    representation or warranty of the Company contained in this
    Agreement such that the closing condition set forth in
    Section&nbsp;7.2(a) would not be satisfied and, in the case of
    both (A)&nbsp;and (B),</TD>
</TR>

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    <TD>&nbsp;</TD>
    <TD align="left">
    such breach or failure to perform (1)&nbsp;is not cured within
    30&nbsp;days after receipt of written notice thereof or
    (2)&nbsp;is incapable of being cured by the Company by the
    Outside Date;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (ii)&nbsp;if the Board of Directors of the Company or any
    committee thereof has made a Company Adverse Recommendation
    Change;&nbsp;or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (iii)&nbsp;if, prior to receipt of the GameStop Stockholder
    Approval, GameStop (A)&nbsp;receives a GameStop Superior
    Proposal, (B)&nbsp;shall have given the Company a Notice of
    GameStop Adverse Recommendation, and (C)&nbsp;shall have
    thereafter satisfied the conditions for making a GameStop
    Adverse Recommendation Change in accordance with
    Section&nbsp;5.3(c); <U>provided</U> <U>however</U>, that such
    termination shall not be effective until such time as payment of
    the GameStop Termination Fee required by Section&nbsp;8.3(c)
    shall have been paid by GameStop; <U>provided</U>
    <U>further</U>, <U>however</U>, that GameStop&#146;s right to
    terminate this Agreement under this Section&nbsp;8.1(c)(iii)
    shall not be available if GameStop is then in breach of
    Section&nbsp;5.3.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(d)<I>&nbsp;<U>Termination by the Company</U>.</I> This
Agreement may be terminated at any time prior to the Effective
Time, whether before or after the Company Stockholder Approval
or the GameStop Stockholder Approval, by written notice of the
Company:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

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    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (i)&nbsp;if either GameStop or Holdco (A)&nbsp;has breached or
    failed to perform any of its covenants or other agreements
    contained in this Agreement to be complied with by GameStop or
    Holdco such that the closing condition set forth in
    Section&nbsp;7.3(b) would not be satisfied, or (B)&nbsp;there
    exists a breach of any representation or warranty of GameStop or
    Holdco contained in this Agreement such that the closing
    condition set forth in Section&nbsp;7.3(a) would not be
    satisfied and, in the case of both (A)&nbsp;and (B), such breach
    or failure to perform (1)&nbsp;is not cured within 30&nbsp;days
    after receipt of written notice thereof or (2)&nbsp;is incapable
    of being cured by GameStop by the Outside Date;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (ii)&nbsp;if the Board of Directors of GameStop or any committee
    thereof has made a GameStop Adverse Recommendation
    Change;&nbsp;or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (iii)&nbsp;if, prior to receipt of the Company Stockholder
    Approval, the Company (A)&nbsp;receives a Company Superior
    Proposal, (B)&nbsp;shall have given GameStop a Notice of Company
    Adverse Recommendation, and (C)&nbsp;shall have thereafter
    satisfied the conditions for making a Company Adverse
    Recommendation Change in accordance with Section&nbsp;5.2(c);
    <U>provided</U> <U>however</U>, that such termination shall not
    be effective until such time as payment of the Company
    Termination Fee required by Section&nbsp;8.3(b) shall have been
    made by the Company; <U>provided</U>, <U>however</U>, that the
    Company&#146;s right to terminate this Agreement under this
    Section&nbsp;8.1(d)(iii) shall not be available if the Company
    is then in breach of Section&nbsp;5.2.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;8.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Effect
of Termination</U>.</I> In the event of termination of this
Agreement by either the Company or GameStop as provided in
Section&nbsp;8.1, this Agreement will forthwith become void and
have no effect, without any liability or obligation on the part
of GameStop, Holdco or the Company, other than the provisions of
the Confidentiality Agreement, this Section&nbsp;8.2,
Section&nbsp;8.3 and Article&nbsp;IX, which provisions shall
survive such termination; <U>provided</U>, <U>however</U>, that
nothing herein will relieve any party from any liability for any
willful and material breach by such party of this Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;8.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Fees
and Expenses</U>.</I> (a)<I>&nbsp;<U>Division of Fees and
Expenses</U>.</I> Except as provided in this Section&nbsp;8.3,
all Expenses incurred in connection with the Mergers, this
Agreement and the transactions contemplated hereby will be paid
by the party incurring such Expenses, whether or not the Mergers
are consummated, except that each of GameStop and the Company
will bear and pay one-half of the costs and expenses incurred in
connection with the filing, printing and mailing of the
Form&nbsp;S-4 and the Joint Proxy Statement (including SEC
filing fees) and any filing fee required to be paid by GameStop
or the Company under the HSR Act and any similar foreign
antitrust filing fee (if required). GameStop shall not reimburse
the Company, directly or indirectly, for any payment made by the
Company pursuant to this Section&nbsp;8.3(a). As used in this
Agreement, &#147;<U>Expenses</U>&#148; includes all
out-of-pocket fees and expenses (including all fees and expenses
of accountants, investment bankers, counsel, experts and
consultants to a party hereto and its affiliates) incurred by a
party or on its behalf in connection with or related to the
</DIV>

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<DIV align="left" style="font-size: 10pt;">
authorization, preparation, negotiation, execution and
performance of this Agreement and the transactions contemplated
hereby.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)<I>&nbsp;<U>Termination Fee Payable By Company</U>.</I> In
the event that this Agreement
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (i)&nbsp;is terminated pursuant to Section&nbsp;8.1(c)(ii),</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (ii)&nbsp;is terminated pursuant to
    Section&nbsp;8.1(d)(iii),&nbsp;or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (iii)&nbsp;is terminated pursuant to Section&nbsp;8.1(b)(i),
    Section&nbsp;8.1(b)(ii) or Section&nbsp;8.1(c)(i) and at such
    time of termination GameStop is not in breach in any material
    respect of any of its representations, warranties or covenants
    contained in this Agreement and (A)&nbsp;prior to such
    termination, any Person publicly announces a Company Takeover
    Proposal which shall not have been withdrawn and (B)&nbsp;within
    12&nbsp;months of such termination the Company or any of its
    Subsidiaries consummates such publicly announced Company
    Takeover Proposal,</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
then the Company shall (1)&nbsp;in the case of termination
pursuant to clause&nbsp;(i) of this Section&nbsp;8.3(b), unless
the Company Adverse Recommendation Change resulting in such
termination was solely due to a Material Adverse Effect on
GameStop (in which event there shall be no Company Termination
Fee), promptly, but in no event later than two Business Days
after the date of such termination, or (2)&nbsp;in the case of
termination pursuant to clause&nbsp;(ii) or (iii)&nbsp;of this
Section&nbsp;8.3(b), upon the earlier to occur of the execution
of such definitive agreement and such consummation, pay GameStop
a non-refundable fee equal to $40,000,000 (the &#147;<U>Company
Termination Fee</U>&#148;), payable by wire transfer of same day
funds to an account designated in writing to the Company by
GameStop.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(c)<I>&nbsp;<U>Termination Fee Payable By GameStop</U>.</I> In
the event that this Agreement
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (i)&nbsp;is terminated pursuant to Section&nbsp;8.1(d)(ii),</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (ii)&nbsp;is terminated pursuant to
    Section&nbsp;8.1(c)(iii),&nbsp;or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (iii)&nbsp;is terminated pursuant to Section&nbsp;8.1(b)(i),
    Section&nbsp;8.1(b)(iii) or Section&nbsp;8.1(d)(i) and at such
    time of termination the Company is not in breach in any material
    respect of any of its representations, warranties or covenants
    contained in this Agreement and (A)&nbsp;prior to such
    termination, any Person publicly announces a GameStop Takeover
    Proposal which shall not have been withdrawn and (B)&nbsp;within
    12&nbsp;months of such termination GameStop or any of its
    Subsidiaries consummates such publicly announced GameStop
    Takeover Proposal,</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
then GameStop shall (1)&nbsp;in the case of termination pursuant
to clause&nbsp;(i) of this Section&nbsp;8.3(c), unless the
GameStop Adverse Recommendation Change resulting from such
termination was solely due to a Material Adverse Effect on the
Company (in which event there shall be no GameStop Termination
Fee), promptly, but in no event later than two Business Days
after the date of such termination, or (2)&nbsp;in the case of
termination pursuant to clause&nbsp;(ii) or (iii)&nbsp;of this
Section&nbsp;8.3(c), upon the earlier to occur of the execution
of such definitive agreement and such consummation of such
GameStop Takeover Proposal, pay the Company a non-refundable fee
equal to $40,000,000 (the &#147;<U>GameStop Termination
Fee</U>&#148;), payable by wire transfer of same day funds to an
account designated in writing to GameStop by the Company.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(d)&nbsp;If GameStop terminates this Agreement pursuant to
Section&nbsp;8.1(c)(ii) as a result of a Company Adverse
Recommendation Change that was made solely due to a Material
Adverse Effect on GameStop, in any judicial, court or tribunal
proceeding in which the payment of the Company Termination Fee
is at issue, whether brought or initiated by GameStop or the
Company, the Company shall have the burden of proving the
Material Adverse Effect on GameStop and that the Company Adverse
Recommendation Change was solely due to such Material Adverse
Effect. If the Company terminates this Agreement pursuant to
Section 8.1(d)(ii) as a result of a GameStop Adverse
Recommendation Change that was made solely due to a Material
Adverse Effect on the Company, in any judicial, court or
tribunal proceeding in which the payment of the GameStop
Termination Fee is at issue, whether brought or initiated by the
Company or GameStop, GameStop shall have the burden of proving
the Material Adverse
</DIV>

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<DIV align="left" style="font-size: 10pt;">
Effect on the Company and that the GameStop Adverse
Recommendation Change was solely due to such Material Adverse
Effect.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
ARTICLE&nbsp;IX
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
GENERAL PROVISIONS
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;9.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Nonsurvival
of Representations and Warranties</U>.</I> None of the
representations and warranties in this Agreement or in any
instrument delivered pursuant to this Agreement will survive the
Effective Time. This Section&nbsp;9.1 shall not limit any
covenant or agreement of the parties which by its terms
contemplates performance after the Effective Time.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;9.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Notices</U>.</I>
All notices, requests, claims, demands and other communications
under this Agreement must be in writing and will be deemed given
if delivered personally, telecopied (which is confirmed by
telephone) or sent by a nationally recognized overnight courier
service (providing proof of delivery) to the parties at the
following addresses (or at such other address for a party as is
specified by like notice):
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
if to the Company, to:
</DIV>

<DIV style="margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Electronics Boutique Holdings Corp.</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    931 South Matlack Street</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    West Chester, Pennsylvania 19382</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Telecopy: 610- 430-8277</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Attention: Jeffrey W. Griffiths</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
with a copy to:
</DIV>

<DIV style="margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Klehr, Harrison, Harvey, Branzburg&nbsp;&#38; Ellers LLP</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    260 South Broad Street</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Philadelphia, PA 19102</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Telecopy No.: 215-568-6603</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Attention: Leonard M. Klehr</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
if to GameStop or Holdco, to:
</DIV>

<DIV style="margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    GameStop Corp.</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    2250 William D. Tate Avenue</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Grapevine, Texas 76051</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Telecopy No: 817-424-2820</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Attention: R. Richard Fontaine</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
with a copy to:
</DIV>

<DIV style="margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Bryan Cave LLP</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    1290 Avenue of the Americas</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    New York, NY 10104</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Telecopy No.: 212-541-1400</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Attention: Michael N. Rosen</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    Notices shall be deemed given upon (i)&nbsp;the date actually
    delivered in person, (ii)&nbsp;the date transmitted via
    telecopier with confirmation of receipt thereof or
    (iii)&nbsp;the next Business Day after the date sent by
    overnight courier.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;9.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Interpretation</U>.</I>
When a reference is made in this Agreement to an Article,
Section or Exhibit, such reference is to an Article or Section
of, or an Exhibit to, this Agreement unless otherwise indicated.
The table of contents, table of defined terms and headings
contained in this Agreement are for reference purposes only and
do not affect in any way the meaning or interpretation of this
Agreement. Whenever the words &#147;include,&#148;
&#147;includes&#148; or &#147;including&#148; are used in this
Agreement, they will be deemed to be followed by the words
&#147;without limitation.&#148; The words &#147;hereof,&#148;
&#147;herein&#148; and &#147;hereunder&#148; and
</DIV>

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<DIV align="left" style="font-size: 10pt;">
words of similar import when used in this Agreement will refer
to this Agreement as a whole and not to any particular provision
of this Agreement. All terms defined in this Agreement will have
the defined meanings when used in any certificate or other
document made or delivered pursuant hereto unless otherwise
defined therein. The definitions contained in this Agreement are
applicable to the singular as well as the plural forms of such
terms and to the masculine as well as to the feminine and neuter
genders of such term. Any agreement, instrument or statute
defined or referred to herein or in any agreement or instrument
that is referred to herein means such agreement, instrument or
statute as from time to time amended, modified or supplemented,
including (in the case of agreements or instruments) by waiver
or consent and (in the case of statutes) by succession of
comparable successor statutes. The parties hereto have
participated jointly in the negotiating and drafting of this
Agreement and, in the event an ambiguity or question of intent
arises, this Agreement shall be construed as jointly drafted by
the parties hereto and no presumption or burden of proof shall
arise favoring or disfavoring any party by virtue of the
authorship of any provision of this Agreement. For purposes of
this Agreement:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (a)&nbsp;<I>&#147;<U>Action</U>&#148;</I> means any claim,
    action, suit, arbitration, mediation, inquiry, proceeding or
    investigation by or before any Governmental Entity, arbitrator
    or mediator.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (b)&nbsp;<I>&#147;<U>Affiliate</U>&#148;</I> of any Person means
    another Person that directly or indirectly, through one or more
    intermediaries, controls, is controlled by, or is under common
    control with, such first Person, where &#147;control&#148; means
    the possession, directly or indirectly, of the power to direct
    or cause the direction of the management policies of a Person,
    whether through the ownership of voting securities, by contract
    or otherwise;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (c)&nbsp;<I>&#147;<U>Business Day</U>&#148;</I> means any day
    other than Saturday, Sunday or any day on which banking and
    savings and loan institutions are authorized or required by Law
    to be closed in New York, New York.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (d)&nbsp;<I>&#147;<U>Knowledge</U>&#148;</I> of any Person that
    is not a natural Person means the actual knowledge of such
    Person&#146;s executive officers;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (e)&nbsp;<I>&#147;<U>Intellectual Property</U>&#148;</I> means
    all of the Company&#146;s and its Subsidiaries&#146; rights and
    interest in: (a)&nbsp;all United States, international and
    foreign patents and applications therefor; (b)&nbsp;all
    inventions (whether patentable or not), ideas, processes,
    inventions, invention disclosures, improvements, trade secrets,
    proprietary information, know how, technology, technical data,
    customer lists, proprietary processes and formulae, all source
    and object code, algorithms, architectures, structures, display
    screens, layouts, development tools and all documentation and
    media constituting, describing or relating to the above,
    including, without limitation, manuals, documentation, memoranda
    and records; (c)&nbsp;all copyrights, copyright registrations
    and applications therefor, material that is subject to
    non-copyright disclosure protections, including derivative and
    all other rights corresponding thereto throughout the world;
    (d)&nbsp;all trade names, trade dress, logos, common law
    trademarks and service marks, trademark and service mark
    registrations and applications therefor throughout the world;
    (e)&nbsp;all proprietary databases and data collections and all
    rights therein throughout the world; (f)&nbsp;domain names, web
    sites and related content; (g)&nbsp;client information and
    related client or user data; (h)&nbsp;intellectual property
    rights acquired by license or agreement; (i)&nbsp;damages or
    benefit derived from any action arising out of or related to the
    foregoing, including laws controlling computer and Internet
    rights; and (j)&nbsp;any equivalent rights to any of the
    foregoing anywhere in the world.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (f)&nbsp;<I>&#147;<U>Law</U>&#148;</I> means any law (including
    common law), statute, statutory instrument, code, ordinance,
    regulation, directive, legally binding rule, decree or other
    legally enforceable obligation imposed by a court or other
    Governmental Entity, and includes rules and regulations of any
    regulatory or self-regulatory authority;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (g)&nbsp;<I>&#147;<U>Liability</U>&#148;</I> means any debt,
    liability, commitment, obligation, claim or cause of action of
    any kind whatsoever, whether due or to become due, known or
    unknown, accrued or fixed, absolute or contingent, or otherwise;</TD>
</TR>

</TABLE>

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<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (h)&nbsp;<I>&#147;<U>Liens</U>&#148;</I> means all pledges,
    claims, liens, options, charges, mortgages, easements,
    restrictions, covenants, conditions of record, encroachments,
    encumbrances and security interests of any kind or nature
    whatsoever;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (i)&nbsp;<I>&#147;<U>Material Adverse Effect</U>&#148;</I>
    means, when used in connection with the Company or GameStop
    (including references to the &#147;Company&#148;), as the case
    may be, any change, effect, event, occurrence or state of facts
    that is materially adverse to the business, financial condition,
    or results of operations of such party and its Subsidiaries
    taken as a whole, other than any changes, effects, events,
    occurrences or state of facts relating to (i)&nbsp;the economy
    or financial markets in general, (ii)&nbsp;product shortages and
    delays in product introductions consistent with those that
    occurred in 2004, (iii)&nbsp;negotiation and entry into this
    Agreement, the announcement of this Agreement or the undertaking
    and performance or observance of the obligations contemplated by
    this Agreement or necessary to consummate the transactions
    contemplated hereby (including adverse effects on results of
    operations attributable to the uncertainties associated with the
    period between the date hereof and the Closing Date),
    (iv)&nbsp;fluctuation in the party&#146;s stock price,
    (v)&nbsp;the effect of incurring and paying Expenses in
    connection with negotiating, entering into, performing and
    consummating the transactions contemplated by this Agreement and
    (vi)&nbsp;changes in GAAP after the date hereof;
    <U>provided</U>, that with respect to clauses&nbsp;(i) and
    (ii)&nbsp;such changes, effects, events, occurrences or state of
    facts do not disproportionately affect such Persons relative to
    the other participants in the industries in which such Persons
    operate; <U>provided</U>, <U>further</U>, that, for the
    avoidance of doubt, compliance with (and the consequences
    thereof) the terms of this Agreement (including
    Section&nbsp;6.5, except for Section&nbsp;6.5(a)(vi)) shall not
    be taken into account in determining whether a Material Adverse
    Effect shall have occurred or shall be expected to occur for any
    and all purposes of this Agreement;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (j)&nbsp;<I>&#147;<U>Permitted Liens</U>&#148;</I> means
    (i)&nbsp;mechanics&#146;, carriers&#146;, workmen&#146;s,
    repairmen&#146;s or other like Liens arising or incurred in the
    ordinary course of business relating to obligations that are not
    delinquent or that are being contested in good faith by the
    relevant party or any subsidiary of it and for which the
    relevant party or a subsidiary of it has established adequate
    reserves, (ii)&nbsp;Liens for Taxes that are not due and
    payable, that are being contested in good faith by appropriate
    proceedings or that may thereafter be paid without interest or
    penalty, (iii)&nbsp;Liens that are reflected as Liabilities on
    the balance sheet of the relevant party and its consolidated
    subsidiaries as of January&nbsp;29, 2005, contained in its SEC
    Documents or the existence of which is referred to in the notes
    to such balance sheet and (iv)&nbsp;Liens that, individually or
    in the aggregate, do not materially impair, and would not
    reasonably be expected materially to impair, the value or the
    continued use and operation of the assets to which they relate;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (k)&nbsp;<I>&#147;<U>Person</U>&#148;</I> means an individual,
    corporation, partnership, limited liability company, joint
    venture, association, trust, unincorporated organization,
    Governmental Entity or other entity (including its permitted
    successors and assigns);&nbsp;and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (l)&nbsp;<I>a &#147;<U>Subsidiary</U>&#148;</I> of any Person
    means another Person, an amount of the voting securities, other
    voting ownership or voting partnership interests of which is
    sufficient to elect at least a majority of its Board of
    Directors or other governing body (or, if there are no such
    voting interests, 50% or more of the equity interest of which)
    is owned directly or indirectly by such first Person.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;9.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Counterparts</U>.</I>
This Agreement may be executed in two or more counterparts, all
of which will be considered one and the same agreement and will
become effective when one or more counterparts have been signed
by each of the parties and delivered to the other parties.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;9.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Entire
Agreement; No Third-Party Beneficiaries</U>.</I> This Agreement
(including the documents and instruments relating to the Mergers
referred to herein) and the Confidentiality Agreement, taken
together with the Company Disclosure Letter and GameStop
Disclosure Letter, (a)&nbsp;constitute the entire agreement, and
supersede all prior agreements and understandings, both written
and oral, among the parties with respect to the subject matter
of this Agreement and (b)&nbsp;except for the provisions of
Section&nbsp;6.10, are not intended to confer upon any Person
other than the parties any rights or remedies.
</DIV>

<P align="center" style="font-size: 10pt;">A-47

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<DIV align="left" style="font-size: 10pt;">
Notwithstanding clause&nbsp;(b) of the immediately preceding
sentence, following the Effective Time the provisions of
Article&nbsp;II shall be enforceable by holders of Company
Certificates.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;9.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Governing
Law</U>.</I> This Agreement is to be governed by, and construed
in accordance with, the laws of the State of Delaware,
regardless of the laws that might otherwise govern under
applicable principles of conflict of laws thereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;9.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Assignment</U>.</I>
Neither this Agreement nor any of the rights, interests or
obligations under this Agreement may be assigned, in whole or in
part, by operation of law or otherwise by any of the parties
hereto without the prior written consent of the other parties.
Any assignment in violation of this Section&nbsp;9.7 will be
void and of no effect. Subject to the preceding two sentences,
this Agreement is binding upon, inures to the benefit of, and is
enforceable by, the parties and their respective successors and
assigns.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;9.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Consent
to Jurisdiction; Waiver of Jury Trial</U>.</I> (a)&nbsp;Each of
the parties hereto (i)&nbsp;consents to submit itself to the
personal jurisdiction of the Court of Chancery of the State of
Delaware in the event any dispute arises out of this Agreement
or any of the transactions contemplated by this Agreement,
(ii)&nbsp;agrees that it will not attempt to deny or defeat such
personal jurisdiction by motion or other request for leave from
such court and (iii)&nbsp;agrees that it will not bring any
action relating to this Agreement or any of the transactions
contemplated by this Agreement in any court other than the Court
of Chancery of the State of Delaware.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)&nbsp;EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY
WHICH MAY ARISE UNDER THIS AGREEMENT IS LIKELY TO INVOLVE
COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE IT HEREBY
IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT IT MAY HAVE TO
A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR
INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT AND ANY
OF THE AGREEMENTS DELIVERED IN CONNECTION HEREWITH OR THE
TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY. EACH PARTY
CERTIFIES AND ACKNOWLEDGES THAT (A)&nbsp;NO REPRESENTATIVE,
AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY
OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF
LITIGATION, SEEK TO ENFORCE EITHER OF SUCH WAIVERS, (B)&nbsp;IT
UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF SUCH WAIVERS,
(C)&nbsp;IT MAKES SUCH WAIVERS VOLUNTARILY, AND (D)&nbsp;IT HAS
BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER
THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS
SECTION&nbsp;9.8(b).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;9.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Specific
Enforcement</U>.</I> The parties agree that irreparable damage
would occur in the event that any of the provisions of this
Agreement were not performed in accordance with their specific
terms or were otherwise breached. The parties accordingly agree
that the parties will be entitled to an injunction or
injunctions to prevent breaches of this Agreement and to enforce
specifically the terms and provisions of this Agreement in the
Court of Chancery of the State of Delaware, this being in
addition to any other remedy to which they are entitled at law
or in equity.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;9.10&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Amendment</U>.</I>
This Agreement may be amended by the parties at any time before
or after the Company Stockholder Approval or the GameStop
Stockholder Approval; <U>provided</U>, <U>however</U>, that,
after such approval, there is not to be made any amendment that
by Law or stock exchange regulation requires further approval by
the stockholders of the Company or the stockholders of GameStop,
as applicable, without further approval of such stockholders.
This Agreement may not be amended except by an instrument in
writing signed on behalf of each of the parties.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;9.11&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Extension;
Waiver</U>.</I> At any time prior to the Effective Time, a party
may (a)&nbsp;extend the time for the performance of any of the
obligations or other acts of the other party, (b)&nbsp;waive any
inaccuracies in the representations and warranties of the other
party contained in this Agreement or in any document delivered
pursuant to this Agreement or (c)&nbsp;subject to the proviso of
Section&nbsp;9.10, waive
</DIV>

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<DIV align="left" style="font-size: 10pt;">
compliance by the other parties with any of the agreements or
conditions contained in this Agreement. Any agreement on the
part of a party to any such extension or waiver will be valid
only if set forth in an instrument in writing signed on behalf
of such party. The failure of any party to this Agreement to
assert any of its rights under this Agreement or otherwise will
not constitute a waiver of such rights.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="font-variant:SMALL-CAPS">Section</FONT>&nbsp;9.12&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Severability</U>.</I>
If any term or other provision of this Agreement is held to be
invalid, illegal or unenforceable by a court of competent
jurisdiction, all other conditions and provisions of this
Agreement will nevertheless remain in full force and effect. In
the case of any such invalidity or unenforceability, such term
or other provision shall be deemed modified to give it the
maximum effect permitted by applicable law.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
[SIGNATURES ARE ON THE FOLLOWING PAGE.]
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
IN WITNESS WHEREOF, the parties hereto have caused this
Agreement to be signed by their respective officers thereunto
duly authorized, all as of the date first written above.
</DIV>

<DIV style="margin-top: 24pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="60%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <B>ELECTRONICS BOUTIQUE HOLDINGS CORP.</B></TD>
</TR>

</TABLE>

<DIV style="margin-top: 48pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="2%"></TD>
    <TD width="58%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>By:&nbsp;</TD>
    <TD align="center">
    /s/ Jeffrey W. Griffiths</TD>
</TR>

</TABLE>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 3pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="60%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <DIV style="border-top: 1pt solid #000000; font-size: 1pt; margin-top: 2pt" align="left">&nbsp;</DIV></TD>
</TR>

<TR valign="top"  style="font-size: 10pt;">
    <TD>&nbsp;</TD>
    <TD align="left">
    Name:&nbsp;Jeffrey W. Griffiths</TD>
</TR>

</TABLE>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="8%"></TD>
    <TD width="52%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD align="left">
    President and Chief Executive Officer</TD>
</TR>

</TABLE>

<DIV style="margin-top: 24pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="60%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <B>GAMESTOP CORP.</B></TD>
</TR>

</TABLE>

<DIV style="margin-top: 48pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="2%"></TD>
    <TD width="58%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>By:&nbsp;</TD>
    <TD align="center">
    /s/ R. Richard Fontaine</TD>
</TR>

</TABLE>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 3pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="60%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <DIV style="border-top: 1pt solid #000000; font-size: 1pt; margin-top: 2pt" align="left">&nbsp;</DIV></TD>
</TR>

<TR valign="top"  style="font-size: 10pt;">
    <TD>&nbsp;</TD>
    <TD align="left">
    Name:&nbsp;R. Richard Fontaine</TD>
</TR>

</TABLE>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="8%"></TD>
    <TD width="52%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD align="left">
    Chief Executive Officer</TD>
</TR>

</TABLE>

<DIV style="margin-top: 24pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="60%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <B>GAMESTOP, INC.</B></TD>
</TR>

</TABLE>

<DIV style="margin-top: 48pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="2%"></TD>
    <TD width="58%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>By:&nbsp;</TD>
    <TD align="center">
    /s/ R. Richard Fontaine</TD>
</TR>

</TABLE>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 3pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="60%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <DIV style="border-top: 1pt solid #000000; font-size: 1pt; margin-top: 2pt" align="left">&nbsp;</DIV></TD>
</TR>

<TR valign="top"  style="font-size: 10pt;">
    <TD>&nbsp;</TD>
    <TD align="left">
    Name:&nbsp;R. Richard Fontaine</TD>
</TR>

</TABLE>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="8%"></TD>
    <TD width="52%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD align="left">
    Chief Executive Officer</TD>
</TR>

</TABLE>

<DIV style="margin-top: 24pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="60%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <B>GSC HOLDINGS CORP.</B></TD>
</TR>

</TABLE>

<DIV style="margin-top: 48pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="2%"></TD>
    <TD width="58%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>By:&nbsp;</TD>
    <TD align="center">
    /s/ R. Richard Fontaine</TD>
</TR>

</TABLE>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 3pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="60%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <DIV style="border-top: 1pt solid #000000; font-size: 1pt; margin-top: 2pt" align="left">&nbsp;</DIV></TD>
</TR>

<TR valign="top"  style="font-size: 10pt;">
    <TD>&nbsp;</TD>
    <TD align="left">
    Name:&nbsp;R. Richard Fontaine</TD>
</TR>

</TABLE>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="8%"></TD>
    <TD width="52%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD align="left">
    Chief Executive Officer</TD>
</TR>

</TABLE>

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<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="60%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <B>COWBOY SUBSIDIARY LLC</B></TD>
</TR>

<TR>
    <TD style="font-size: 24pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    By GSC Holdings Corp., its manager</TD>
</TR>

</TABLE>

<DIV style="margin-top: 48pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="2%"></TD>
    <TD width="58%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>By:&nbsp;</TD>
    <TD align="center">
    /s/ R. Richard Fontaine</TD>
</TR>

</TABLE>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 3pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="60%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <DIV style="border-top: 1pt solid #000000; font-size: 1pt; margin-top: 2pt" align="left">&nbsp;</DIV></TD>
</TR>

<TR valign="top"  style="font-size: 10pt;">
    <TD>&nbsp;</TD>
    <TD align="left">
    Name:&nbsp;R. Richard Fontaine</TD>
</TR>

</TABLE>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="8%"></TD>
    <TD width="52%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD align="left">
    Chief Executive Officer</TD>
</TR>

</TABLE>

<DIV style="margin-top: 24pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="60%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <B>EAGLE SUBSIDIARY LLC</B></TD>
</TR>

<TR>
    <TD style="font-size: 24pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    By GSC Holdings Corp., its manager</TD>
</TR>

</TABLE>

<DIV style="margin-top: 48pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="2%"></TD>
    <TD width="58%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>By:&nbsp;</TD>
    <TD align="center">
    /s/ R. Richard Fontaine</TD>
</TR>

</TABLE>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 3pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="60%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <DIV style="border-top: 1pt solid #000000; font-size: 1pt; margin-top: 2pt" align="left">&nbsp;</DIV></TD>
</TR>

<TR valign="top"  style="font-size: 10pt;">
    <TD>&nbsp;</TD>
    <TD align="left">
    Name:&nbsp;R. Richard Fontaine</TD>
</TR>

</TABLE>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="8%"></TD>
    <TD width="52%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD align="left">
    Chief Executive Officer</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">A-51

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<DIV align="left" style="font-size: 10pt;">
<A name='260'></A>
</DIV>

<!-- link1 "ANNEX B" -->

<DIV align="right" style="font-size: 10pt;">
<B>ANNEX B</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>CERTIFICATE OF AMENDMENT</B>
</DIV>

<DIV align="center" style="font-size: 10pt;">
<B>OF</B>
</DIV>

<DIV align="center" style="font-size: 10pt;">
<B>CERTIFICATE OF INCORPORATION</B>
</DIV>

<DIV align="center" style="font-size: 10pt;">
<B>OF</B>
</DIV>

<DIV align="center" style="font-size: 10pt;">
<B>GAMESTOP CORP.</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>(Under Section&nbsp;242 of the General Corporation Law)</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Pursuant to the provisions of Section&nbsp;242 of the Delaware
General Corporation Law, the undersigned corporation does hereby
certify that:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

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    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    1.&nbsp;The name of the corporation is GameStop Corp.
    (hereinafter called the &#147;Corporation&#148;).</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    2.&nbsp;The Certificate of Incorporation of the Corporation was
    filed with the Office of the Secretary of State of Delaware on
    the
    10<SUP style="font-size: 85%; vertical-align: text-top">th</SUP>
    day of August, 2001.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    3.&nbsp;The Amended and Restated Certificate of Incorporation of
    the Corporation was filed with the Office of the Secretary of
    State of Delaware on the
    13<SUP style="font-size: 85%; vertical-align: text-top">th</SUP>&nbsp;day
    of February, 2002.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    4.&nbsp;The Amended and Restated Certificate of Incorporation is
    hereby amended by striking out (b)(v) Mergers, Consolidation,
    Etc. of Article&nbsp;Fourth thereof and by substituting in lieu
    of said (b)(v) the following new (b)(v):</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="6%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    &#147;(v)&nbsp;<I><U>Mergers, Consolidation, Etc</U>.</I> In
    case of any consolidation, merger, combination or other
    transaction in which shares of Common Stock are exchanged for or
    changed into other stock or securities, cash and/or any other
    property, each holder of a share of Class&nbsp;A Common Stock
    shall be entitled to receive with respect to such share the same
    kind and amount of shares of stock and other securities and
    property (including cash) receivable upon such consolidation,
    merger, combination or other transaction by a holder of a share
    of Class&nbsp;B Common Stock and each holder of a share of
    Class&nbsp;B Common Stock shall be entitled to receive with
    respect to such share the same kind and amount of shares of
    stock and other securities and property (including cash)
    receivable upon such consolidation, merger, combination or other
    transaction by a holder of a share of Class&nbsp;A Common Stock.
    In the event that the holders of Class&nbsp;A Common Stock (or
    of Class&nbsp;B Common Stock) are granted rights to elect to
    receive one of two or more alternative forms of consideration,
    the foregoing provision shall be deemed satisfied if holders of
    Class&nbsp;A Common Stock and holders of Class&nbsp;B Common
    Stock are granted substantially identical election rights.
    Notwithstanding the foregoing, in the event of any of the
    foregoing transactions, the holders of Class&nbsp;B Common Stock
    may receive securities that differ as to voting rights and
    powers on a per share basis from the securities received by the
    holders of Class&nbsp;A Common Stock, provided, however, that
    such difference shall not exceed ten to one, respectively. The
    provisions set forth above shall not apply in the event of any
    internal restructuring of the Corporation that does not change
    the economic terms, voting rights or other provisions of such
    Class&nbsp;A Common Stock and Class&nbsp;B Common Stock in
    effect immediately prior to such internal restructuring by the
    Corporation.&#148;</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

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    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    5.&nbsp;The foregoing amendment was duly adopted in accordance
    with the provisions of Sections&nbsp;242 and 228 of the Delaware
    General Corporation Law.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">B-1

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
IN WITNESS WHEREOF, the undersigned does hereby affirm that the
statements made herein are true under the penalties of perjury
this &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;day
of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;,
2005.
</DIV>

<DIV style="margin-top: 24pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 3pt;">

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    <TD width="40%"></TD>
    <TD width="60%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <DIV style="border-top: 1pt solid #000000; font-size: 1pt; margin-top: 2pt" align="left">&nbsp;</DIV></TD>
</TR>

<TR valign="top"  style="font-size: 10pt;">
    <TD>&nbsp;</TD>
    <TD align="left">
    Name:&nbsp;</TD>
</TR>

<TR valign="top"  style="font-size: 10pt;">
    <TD>&nbsp;</TD>
    <TD align="left">
    Title:</TD>
</TR>

</TABLE>

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<DIV align="left" style="font-size: 10pt;">
<A name='261'></A>
</DIV>

<!-- link1 "ANNEX C" -->

<DIV align="right" style="font-size: 10pt;">
<B>ANNEX C</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>VOTING AGREEMENT AND IRREVOCABLE PROXY</B>
</DIV>

<DIV align="right" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
April&nbsp;17, 2005
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
Electronics Boutique Holdings Corp.
</DIV>

<DIV align="left" style="font-size: 10pt;">
931 South Matlack Street
</DIV>

<DIV align="left" style="font-size: 10pt;">
West Chester, Pennsylvania 19382
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
GameStop Corp.
</DIV>

<DIV align="left" style="font-size: 10pt;">
2250 William D. Tate Avenue
</DIV>

<DIV align="left" style="font-size: 10pt;">
Grapevine, Texas 76051
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
Ladies and Gentlemen:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The undersigned (the &#147;<U>Stockholders</U>,&#148; and each a
&#147;<U>Stockholder</U>&#148;) understand that Electronics
Boutique Holdings Corp., a Delaware corporation
(&#147;<U>Company</U>&#148;), and GameStop Corp., a Delaware
corporation (&#147;<U>GameStop</U>&#148;), GameStop, Inc., a
Delaware corporation, GSC Holding Corp.
(&#147;<U>Holdco</U>&#148;), a Delaware corporation, Cowboy
Subsidiary LLC, a Delaware limited liability company, and Eagle
Subsidiary LLC, a Delaware limited liability company, propose to
enter into an Agreement and Plan of Merger, dated as of
April&nbsp;17, 2005 (the &#147;<U>Merger Agreement</U>&#148;),
providing for, among other things, the Mergers, in which, among
other things, each issued and outstanding share of common stock,
par value $0.01&nbsp;per share, of the Company (&#147;<U>Company
Common Stock</U>&#148;) will be converted into the right to
receive cash and a certain number of shares of Class&nbsp;A
Common Stock, par value $0.001&nbsp;per share, of Holdco (the
&#147;<U>Holdco Common Stock</U>&#148;). Capitalized terms used
without definition in this Voting Agreement (the
&#147;<U>Agreement</U>&#148;) shall have the meanings ascribed
thereto in the Merger Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Each Stockholder is the beneficial and record owner of
(i)&nbsp;that number of shares of Company Common Stock,
(ii)&nbsp;outstanding options, warrants and other rights to
acquire shares of Company Common Stock, and (iii)&nbsp;the
additional securities of the Company; in each case, as set forth
opposite the name of such Stockholder on Schedule&nbsp;I to this
Agreement. Each Stockholder, in its capacity as such, is
entering into this Agreement in consideration of, and as a
condition to, GameStop&#146;s willingness to enter into the
Merger Agreement and to consummate the transactions contemplated
thereby.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In consideration for each Stockholder entering into this
Agreement, GameStop shall cause Holdco on or prior to the
Closing Date to enter into the registration rights agreement in
substantially the form attached hereto as <U>Exhibit&nbsp;A</U>
(the &#147;<U>Registration Rights Agreement</U>&#148;).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Each Stockholder confirms its agreement with each of you as
follows:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

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    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    1.&nbsp;Each Stockholder represents, warrants and agrees that
    (a)&nbsp;Schedule&nbsp;I to this Agreement sets forth the number
    and type of shares of Company Common Stock (such shares,
    together with any shares of Company Common Stock acquired by
    such Stockholder on or after the date of this Agreement, whether
    by exercise of options, warrants or other derivative securities
    or otherwise, the &#147;<U>Shares</U>&#148;) and the number and
    type of shares of Company Common Stock that are issuable upon
    exercise of outstanding warrants, options or other derivative
    securities, whether or not exercisable (the &#147;<U>Derivative
    Securities</U>&#148;), of which such Stockholder is the record
    or beneficial owner, (b)&nbsp;such Stockholder owns such Shares
    and Derivative Securities, free and clear of all liens, pledges,
    charges, encumbrances, voting agreements and commitments of
    every kind, except for encumbrances imposed by margin accounts
    maintained by each Stockholder or pledges to investment banks or
    other third party lenders, and (c)&nbsp;such Stockholder has the
    power to vote all Shares without restriction and no proxies
    heretofore given in respect of any or all of the Shares are
    irrevocable and that any such proxies have heretofore been or
    are hereby revoked. Each Stockholder further represents and
    warrants that (i)&nbsp;the Spin-Off and the transactions
    contemplated by the Merger Agreement are not part of a</TD>
</TR>

</TABLE>

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    <TD width="3%"></TD>
    <TD width="97%"></TD>
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    <TD>&nbsp;</TD>
    <TD align="left">
    plan (or series of related transactions) involving such
    Stockholder (and to the knowledge of such Stockholder, involving
    any other Person) pursuant to which one or more Persons acquire
    directly or indirectly stock representing a 50-percent or
    greater interest (measured by voting power or value) in GameStop
    (for these purposes, the acquisition of GameStop by Holdco in
    accordance with the terms of the Merger Agreement will not be
    considered a plan to acquire a 50-percent or greater interest in
    GameStop) and (ii)&nbsp;it had no agreement, understanding,
    arrangement or Substantial Negotiations with GameStop,
    Barnes&nbsp;&#38; Noble, Inc. (&#147;<U>B&#38;N</U>&#148;) or
    any other Person regarding the transactions contemplated by the
    Merger Agreement or similar transactions at any time prior to
    November&nbsp;13, 2004 and to the Stockholder&#146;s knowledge,
    no Person had an agreement, understanding, arrangement or
    Substantial Negotiations with GameStop or the Company regarding
    the transactions contemplated by the Merger Agreement or similar
    transactions at any time prior to November&nbsp;13, 2004. For
    purposes of this Agreement, &#147;<U>Spin-Off</U>&#148; means
    the distribution of GameStop Class&nbsp;B Common Stock by
    B&#38;N on November&nbsp;12, 2004, which was intended to be
    tax-free pursuant to Section&nbsp;355 of the Code, and
    &#147;<U>Substantial Negotiations</U>&#148; include discussions
    of significant economic terms (e.g. the exchange ratio in a
    reorganization) between, on the one hand, such Stockholders or
    one or more officers, directors or controlling stockholders of
    the Company or another Person or Persons with the implicit or
    explicit permission of one or more officers, directors or
    controlling stockholders of the Company with, on the other hand,
    one or more officers, directors or controlling stockholders of
    GameStop, B&#38;N or another Person or Persons with the implicit
    or explicit permission of one or more officers, directors or
    controlling stockholders of GameStop or B&#38;N.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    2.&nbsp;Each Stockholder agrees that it will not, directly or
    indirectly, sell, transfer, assign, pledge, encumber or
    otherwise dispose of any of the Shares, or any interest therein,
    or any other securities convertible into or exchangeable for
    Company Common Stock (including the Derivative Securities), or
    any voting rights with respect thereto or enter into any
    contract, option or other arrangement or understanding with
    respect thereto (including any voting trust or agreement and the
    granting of any proxy) other than (a)&nbsp;pursuant to the
    Mergers, (b)&nbsp;encumbrances imposed by margin accounts
    maintained by each Stockholder or pledges to investment banks or
    other third party lenders and any other transfers resulting
    therefrom, (c)&nbsp;transfers to family members of any
    Stockholder, (d)&nbsp;transfers by operation of law by will or
    pursuant to the laws of decent or distribution, or (e)&nbsp;with
    the prior written consent of GameStop; <U>provided</U> that, in
    the case of clauses&nbsp;(c) and (d)&nbsp;such family member or
    transferee shall become a party to this Agreement subject to its
    terms and obligations to the same extent as such Stockholder, by
    executing and delivering to GameStop and the Company a
    counterpart to this Agreement. Each Stockholder hereby agrees to
    authorize and request the Company to notify its transfer agent
    that there is a stop transfer order with respect to all of the
    Shares and that this Agreement places limits on the voting of
    the Shares. If so requested by GameStop, each Stockholder agrees
    that the certificates representing Shares shall bear a legend
    stating that they are subject to this Agreement and to the
    irrevocable proxy granted in paragraph&nbsp;5 of this Agreement.
    On the Closing Date, Mr.&nbsp;James Kim (i)&nbsp;shall cause EB
    Services Corp. to cancel, terminate or transfer to GameStop or
    any Person designated by GameStop (whether cancelled, terminated
    or transferred to be mutually agreed by Mr.&nbsp;Kim and
    GameStop) its .01% partnership interest in EB Services Company,
    LLP and (ii)&nbsp;shall, and shall cause any of his Affiliates
    (other than the Company and its Subsidiaries) to, cancel,
    terminate or transfer to GameStop or any Person designated by
    GameStop (whether cancelled, terminated or transferred to be
    mutually agreed by Mr.&nbsp;Kim and GameStop) any other minority
    interest he or any of his Affiliates (other than the Company and
    its Subsidiaries) owns in any of the Company&#146;s Subsidiaries.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    3.&nbsp;Each Stockholder hereby irrevocably and unconditionally
    waives any right of appraisal, any dissenters&#146; rights and
    any similar rights relating to, arising out of or resulting from
    the Company Merger or any related transaction that Stockholder
    may have by virtue of any outstanding shares of Company Common
    Stock owned by Stockholder.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    4.&nbsp;At every meeting of the stockholders of Company called,
    and at every postponement or adjournment thereof, and on every
    action or approval by written consent of the stockholders of</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">C-2

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    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Company, each Stockholder irrevocably agrees to vote any Shares
    entitled to be voted thereat or to cause any such Shares to be
    voted: (i)&nbsp;in favor of adoption of the Merger Agreement;
    and (ii)&nbsp;against (A)&nbsp;any proposal made in opposition
    to adoption of the Merger Agreement or in competition or
    inconsistent with the Company Merger or any other transaction
    contemplated by the Merger Agreement, (B)&nbsp;any Company
    Takeover Proposal, (C)&nbsp;any change in the management or
    board of directors of Company (other than as contemplated by the
    Merger Agreement) and (D)&nbsp;any action or agreement that
    would result in a breach of any representation, warranty,
    covenant or agreement or any other obligation of Company under
    the Merger Agreement or of such Stockholder under this
    Agreement. The obligations of each Stockholder specified in this
    paragraph&nbsp;4 shall apply whether or not (x)&nbsp;the Board
    of Directors of Company (or any committee thereof) shall
    (I)&nbsp;make a Company Adverse Recommendation Change, or
    (II)&nbsp;approve or recommend, or allow Company or any of its
    Subsidiaries to execute or enter into, any letter of intent,
    memorandum of understanding, agreement in principle, merger
    agreement, acquisition agreement, option agreement, joint
    venture agreement, partnership agreement or similar agreement
    constituting or related to any Company Takeover Proposal (other
    than a confidentiality agreement referred to in
    Section&nbsp;5.2(a) of the Merger Agreement, or (y)&nbsp;Company
    breaches any of its representations, warranties, agreements or
    covenants set forth in the Merger Agreement; <U>provided</U>,
    <U>however</U>, that, in the event of a Company Adverse
    Recommendation Change, the obligation of the Stockholders to
    vote Shares in the manner set forth in clauses&nbsp;(i) and
    (ii)&nbsp;of this paragraph&nbsp;4 shall apply only to an
    aggregate number of Shares that is equal to one third of the
    total number of shares of Company Common Stock entitled to vote
    in respect of such matter and the Stockholders shall cause all
    remaining Shares to be voted in a manner that is proportionate
    to the manner in which all holders of shares of Company Common
    Stock (other than the Stockholders) vote in respect of such
    matter.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    5.&nbsp;In furtherance of the agreements contained in
    paragraph&nbsp;4 of this Agreement and as security for such
    agreements, each Stockholder hereby irrevocably appoints R.
    Richard Fontaine and Daniel A. DeMatteo (the
    &#147;<U>Grantees</U>&#148;), and each of them individually, as
    the sole and exclusive attorneys-in-fact and proxies of such
    Stockholder, for and in the name, place and stead of such
    Stockholder, with full power of substitution and resubstitution,
    to vote, grant a consent or approval in respect of, or execute
    and deliver a proxy to vote, those Shares that are Company
    Common Stock (a)&nbsp;in favor of the adoption of the Merger
    Agreement, (b)&nbsp;against any matter referred to in
    paragraph&nbsp;4(ii) of this Agreement, and (c)&nbsp;in the
    discretion of the Grantees, with respect to any proposed
    postponements or adjournments of any annual or special meeting
    of the stockholders of Company held in connection with any of
    the foregoing. Each Stockholder hereby affirms that the
    irrevocable proxy granted by this paragraph&nbsp;5 is given in
    connection with, and in consideration of, the execution of the
    Merger Agreement by Company, GameStop, GSC Holding Corp., Cowboy
    Subsidiary LLC and Eagle Subsidiary LLC and that such
    irrevocable proxy is given to secure the performance of the
    duties of such Stockholder under this Agreement. Each
    Stockholder hereby further affirms that the proxy granted in
    this paragraph&nbsp;5 is coupled with an interest sufficient in
    law to support an irrevocable power and may under no
    circumstances be revoked by a Stockholder. Each Stockholder
    hereby ratifies and confirms all that the Grantees may lawfully
    do or cause to be done by virtue hereof. The proxy contained
    herein with respect to shares of Company Common Stock is
    intended to be irrevocable in accordance with the provisions of
    Section&nbsp;212(e) of the Delaware General Corporation Law.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    6.&nbsp;In consideration for GameStop and the Company entering
    into the Merger Agreement agreeing to cause Holdco to enter into
    the Registration Rights Agreement, Mr.&nbsp;James Kim shall on
    or prior to the Closing Date enter into the non-compete
    agreement in the form attached hereto as <U>Exhibit&nbsp;B</U>.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    7.&nbsp;The parties acknowledge and agree that nothing contained
    in this Agreement shall restrict, limit or prohibit any
    affiliate of any Stockholder from exercising (in his capacity as
    a director of Company or any such Person) his fiduciary duties
    as such a director.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">C-3

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    8.&nbsp;Each Stockholder represents and warrants that it has all
    necessary power and authority to enter into this Agreement and
    to grant the irrevocable proxy provided for in paragraph&nbsp;5,
    and that this Agreement is the legal, valid and binding
    agreement of such Stockholder and is enforceable against such
    Stockholder in accordance with its terms.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    9.&nbsp;The representations and warranties contained in this
    Agreement are accurate in all respects as of the date of this
    Agreement.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    10.&nbsp;This Agreement may be terminated as to any Stockholder
    at the option of such Stockholder, Company or GameStop at any
    time after the earlier of (a)&nbsp;termination of the Merger
    Agreement in accordance with its terms or (b)&nbsp;the day
    following the Effective Time.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    11.&nbsp;From time to time each Stockholder shall take such
    further actions as GameStop may reasonably request for the
    purpose of carrying out and furthering the intent of this
    Agreement.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    12.&nbsp;This Agreement shall be governed by, and construed in
    accordance with, the laws of the State of Delaware, without
    giving effect to principles of conflict of laws.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    13.&nbsp;Each Stockholder recognizes and acknowledges that a
    breach by it of any covenants or agreements contained in this
    Agreement will cause GameStop to sustain damages for which it
    would not have an adequate remedy at law for money damages, and
    therefore each Stockholder agrees that in the event of any such
    breach, GameStop shall be entitled to specific performance of
    such covenants and agreements and injunctive and other equitable
    relief in addition to any other remedy to which it may be
    entitled, at law or in equity, without the necessity of posting
    any bond.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    14.&nbsp;The effectiveness of this Agreement shall be
    conditioned upon the execution and delivery of the Merger
    Agreement by each of the parties thereto.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    15.&nbsp;Except as provided in Section&nbsp;2(b), each
    Stockholder agrees that this Agreement and the obligations
    hereunder shall attach to the Shares and shall be binding upon
    any Person to which legal or beneficial ownership of the Shares
    shall pass, whether by operation of law or otherwise. Neither
    this Agreement, nor any of the interests or obligations
    hereunder may be assigned or delegated by Stockholder, and any
    attempted or purported assignment or delegation of any such
    interests or obligations shall be void.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    16.&nbsp;This Agreement may be executed in two or more
    counterparts (including by facsimile), each of which shall be
    deemed an original and all of which together shall constitute
    one instrument.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">C-4

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<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The parties have caused this Agreement to be duly executed on
the date first above written.
</DIV>

<DIV style="margin-top: 24pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="60%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    EB NEVADA INC.</TD>
</TR>

</TABLE>

<DIV style="margin-top: 48pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="2%"></TD>
    <TD width="58%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>By:&nbsp;</TD>
    <TD align="left">
    /s/ James J. Kim</TD>
</TR>

</TABLE>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 3pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="60%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <DIV style="border-top: 1pt solid #000000; font-size: 1pt; margin-top: 2pt" align="left">&nbsp;</DIV></TD>
</TR>

<TR valign="top"  style="font-size: 10pt;">
    <TD>&nbsp;</TD>
    <TD align="left">
    Name:&nbsp;James J. Kim</TD>
</TR>

</TABLE>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="8%"></TD>
    <TD width="52%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD align="left">
    President and Chief Executive Officer</TD>
</TR>

</TABLE>

<DIV style="margin-top: 24pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="60%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    /s/ James J. Kim</TD>
</TR>

<TR valign="top"  style="font-size: 3pt;">
    <TD>&nbsp;</TD>
    <TD align="left">
    <DIV style="border-top: 1pt solid #000000; font-size: 1pt; margin-top: 2pt" align="left">&nbsp;</DIV></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    James J. Kim</TD>
</TR>

<TR>
    <TD style="font-size: 24pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Acknowledged and Agreed:</TD>
</TR>

<TR>
    <TD style="font-size: 24pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    GAMESTOP CORP.</TD>
</TR>

</TABLE>

<DIV style="margin-top: 48pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="2%"></TD>
    <TD width="58%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>By:&nbsp;</TD>
    <TD align="left">
    /s/ R. Richard Fontaine</TD>
</TR>

</TABLE>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 3pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="60%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <DIV style="border-top: 1pt solid #000000; font-size: 1pt; margin-top: 2pt" align="left">&nbsp;</DIV></TD>
</TR>

<TR valign="top"  style="font-size: 10pt;">
    <TD>&nbsp;</TD>
    <TD align="left">
    Name:&nbsp;R. Richard Fontaine</TD>
</TR>

</TABLE>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="8%"></TD>
    <TD width="52%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD align="left">
    Chief Executive Officer</TD>
</TR>

</TABLE>

<DIV style="margin-top: 24pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="60%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    ELECTRONICS BOUTIQUE HOLDINGS CORP.</TD>
</TR>

</TABLE>

<DIV style="margin-top: 48pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="2%"></TD>
    <TD width="58%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>By:&nbsp;</TD>
    <TD align="left">
    /s/ Jeffrey W. Griffiths</TD>
</TR>

</TABLE>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 3pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="60%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <DIV style="border-top: 1pt solid #000000; font-size: 1pt; margin-top: 2pt" align="left">&nbsp;</DIV></TD>
</TR>

<TR valign="top"  style="font-size: 10pt;">
    <TD>&nbsp;</TD>
    <TD align="left">
    Name:&nbsp;Jeffrey W. Griffiths</TD>
</TR>

</TABLE>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="8%"></TD>
    <TD width="52%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD align="left">
    President and Chief Executive Officer</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">C-5

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<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>SCHEDULE I</B>
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; margin-top: 12pt; ">

<TR style="font-size: 1pt;">
    <TD width="76%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Number of Shares</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD align="center" nowrap><B>Name of Stockholder</B></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>of Company Owned</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    EB Nevada Inc.</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top" nowrap>11,569,101</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    James J. Kim</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top" nowrap>11,866,601</TD>
    <TD align="left" valign="top" nowrap>(1)</TD>
</TR>

</TABLE>
</CENTER>

<DIV align="left" style="font-size: 3pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<DIV style="width: 18%; border-top: 1.0pt solid black; font-size: 1pt">&nbsp;</DIV>
</DIV>

<DIV style="margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>(1)&nbsp;</TD>
    <TD align="left">
    Includes 11,569,101&nbsp;shares owned by EB Nevada Inc. and
    297,500 options (both vested and unvested) to purchase EB common
    stock.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">C-6

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>EXHIBIT A</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>REGISTRATION RIGHTS AGREEMENT</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
See Annex&nbsp;D
</DIV>

<P align="center" style="font-size: 10pt;">C-7

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<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>EXHIBIT B</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>NON-COMPETE AGREEMENT</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
See Annex&nbsp;E
</DIV>

<P align="center" style="font-size: 10pt;">C-8

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV align="left" style="font-size: 10pt;">
<A name='262'></A>
</DIV>

<!-- link1 "ANNEX D REGISTRATION RIGHTS AGREEMENT" -->

<DIV align="right" style="font-size: 10pt;">
<B>ANNEX D</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>REGISTRATION RIGHTS AGREEMENT</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
This REGISTRATION RIGHTS AGREEMENT (&#147;Agreement&#148;) is
made as
of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;,
2005, by and among GSC Holdings Corp., a Delaware corporation
(the &#147;Company&#148;), and EB Nevada Inc.,
a &nbsp;corporation and James J. Kim (the
&#147;Stockholders&#148;), and each person or entity that
subsequently becomes a party to this Agreement pursuant to, and
in accordance with, the provisions of Section&nbsp;11 hereof.
Capitalized terms used herein without definition shall the
respective meanings ascribed thereto in the Merger Agreement (as
defined below).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
WHEREAS, pursuant to an Agreement and Plan of Merger (the
&#147;Merger Agreement&#148;), dated April&nbsp;17, 2005, each
share of common stock of Electronics Boutique Holdings Corp.
issued and outstanding immediately prior to the Effective Time
will be converted into the right to receive Company Cash
Consideration and Company Stock Consideration;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
WHEREAS, the Company and the Stockholders are executing and
delivering this Agreement pursuant to the terms of the Kim Group
Voting Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
NOW, THEREFORE, in consideration of the premises and mutual
covenants contained herein, the parties hereto hereby agree as
follows:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
1.<I>&nbsp;DEFINITIONS.</I> As used in this Agreement, the
following terms shall have the following respective meanings:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <I>&#147;Board&#148;</I> shall mean the board of directors of
    the Company.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <I>&#147;Exchange Act&#148; </I>shall mean the Securities
    Exchange Act of 1934, as amended, and all of the rules and
    regulations promulgated thereunder.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <I>&#147;Holder&#148; </I>shall mean, collectively, the
    Stockholders and the Permitted Transferees; provided, however,
    that the term &#147;Holder&#148; shall not include any of the
    foregoing that ceases to own or hold any Registrable Securities.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <I>&#147;Permitted Transferee&#148; </I>shall have the meaning
    set forth in Section&nbsp;11.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <I>&#147;Registrable Securities&#148; </I>shall mean
    (i)&nbsp;the Company Stock Consideration issued to the
    Stockholders pursuant to the terms of the Merger Agreement, and
    (ii)&nbsp;shall include any shares of the Company&#146;s Common
    Stock issued with respect to the Registrable Securities as a
    result of any stock split, stock dividend, recapitalization,
    exchange or similar event; provided, however, that all
    Registrable Securities shall cease to be Registrable Securities
    once they have been sold pursuant to a registration statement or
    such shares are transferred pursuant to Rule&nbsp;144 or are
    eligible to be sold without restriction pursuant to
    Rule&nbsp;144(k).</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <I>&#147;Rule&nbsp;144&#148; </I>shall mean Rule&nbsp;144
    promulgated under the Securities Act and any successor or
    substitute rule, law or provision.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <I>&#147;SEC&#148; </I>shall mean the Securities and Exchange
    Commission.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <I>&#147;Securities Act&#148; </I>shall mean the Securities Act
    of 1933, as amended, and all of the rules and regulations
    promulgated there under.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
2.<I>&nbsp;EFFECTIVENESS. </I>This Agreement shall become
effective and legally binding upon the Effective Time.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
3.<I>&nbsp;MANDATORY REGISTRATION.</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(a)&nbsp;As promptly as practicable following the Effective
Time, subject to Section&nbsp;6, the Company will prepare and
file with the SEC a registration statement on Form&nbsp;S-3 or
any successor form (except that if the Company is not then
eligible to register for resale the Registrable Securities on
Form&nbsp;S-3, then such
</DIV>

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<DIV align="left" style="font-size: 10pt;">
registration shall be on Form&nbsp;S-1 or any successor form)
for the purpose of registering under the Securities Act all of
the Registrable Securities for resale by, and for the account
of, the Holders as selling stockholders thereunder (the
&#147;Registration Statement&#148;). The Registration Statement
shall permit the Holders to offer and sell, on a delayed or
continuous basis pursuant to Rule&nbsp;415 under the Securities
Act, any or all of the Registrable Securities. The Company
agrees to use reasonable best efforts to cause the Registration
Statement to become effective (which shall include using
reasonable best efforts to respond to any comments of the SEC in
respect of the Registration Statement within ten
(10)&nbsp;business days following receipt thereof) within
90&nbsp;days following the Effective Time. The Company shall use
its reasonable best efforts to keep the Registration Statement
effective until the earlier of (i)&nbsp;the date when all of the
Registrable Securities registered thereunder shall have been
sold, or (ii)&nbsp;the date all Registrable Securities are
eligible to be sold without restriction pursuant to
Rule&nbsp;144(k).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)&nbsp;Within three (3)&nbsp;business days after a
Registration Statement that covers applicable Registrable
Securities is declared effective by the SEC, the Company shall
deliver, or shall cause legal counsel to deliver, to the
transfer agent for such Registrable Securities (with copies to
the Holders whose Registrable Securities are included in such
Registration Statement) confirmation that such Registration
Statement has been declared effective by the SEC.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
4.<I>&nbsp;COMPANY REGISTRATION.</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(a)&nbsp;If, at any time (but without any obligation to do so),
the Company proposes to register any of its Common Stock or
other equity securities under the Securities Act on
Form&nbsp;S-1, Form&nbsp;S-2 or Form&nbsp;S-3 (or an equivalent
general registration form then in effect) for purposes of an
offering or sale by or on behalf of the Company of its Common
Stock or other equity securities for its own account, then each
such time the Company shall, at least 20 business days prior to
the time when any such registration statement is filed with the
SEC, give prompt written notice to the Holders of its intention
to do so. Such notice shall specify, at a minimum, the number
and class of shares or other equity securities so proposed to be
registered, the proposed date of filing of such registration
statement, any proposed means of distribution of such shares or
other equity securities, any proposed managing underwriter or
underwriters of such shares or other equity securities and a
good faith estimate by the Company of the proposed maximum
offering price thereof, as such price is proposed to appear on
the facing page of such registration statement. Upon the written
direction of any Holder or Holders, given within 10&nbsp;days
following the receipt by such Holder of such written notice
(which direction shall specify the number of Registrable
Securities intended to be disposed of by such Holder and the
intended method of distribution thereof), the Company shall
include in such registration statement any or all of the
Registrable Securities then held by such Holder requesting such
registration (a &#147;Selling Holder&#148;) to the extent
necessary to permit the sale or other disposition of such number
of Registrable Securities as such Selling Holder has so directed
the Company to be so registered. Failure of any Stockholders to
respond to the Company&#146;s notice within the 10-day period
specified above shall be deemed an election by such Holder not
to have any of such Holder&#146;s Registrable Securities
included in such registration statement. Notwithstanding the
foregoing, the Holders shall not have any right under this
Section&nbsp;4(a) if the registration proposed to be effected by
the Company relates solely to shares of Common Stock or other
equity securities that are issuable (1)&nbsp;solely to officers
or employees of the Company or any subsidiary thereof pursuant
to a bona fide employee stock option, bonus or other employee
benefit plan or (2)&nbsp;as direct consideration in connection
with a merger, exchange offer or acquisition of a business.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)&nbsp;In the event that the Company proposes to register
shares of Common Stock or other equity securities for purposes
of an offering described in the first sentence of
Section&nbsp;4(a), and any managing underwriter shall advise the
Company and the Selling Holders in writing that, in its opinion,
market or other factors require a limitation of the number of
securities to be underwritten, then the Company will include in
such registration statement such number of shares or securities
as the Company and such Selling Holders are so advised can be
sold in such offering (the &#147;Offering Maximum Number&#148;),
as follows and in the following order of priority:
(A)&nbsp;first, the number of shares or securities proposed to
be included by the Company, and (B)&nbsp;second, if and to the
extent that the number of shares or securities to be registered
under clause&nbsp;(A)&nbsp;is less than the Offering Maximum
Number, Registrable Securities of each
</DIV>

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<DIV align="left" style="font-size: 10pt;">
Selling Holder, allocated pro rata and without any priority as
between the Selling Holders, in proportion to the number sought
to be registered by each Selling Holder relative to the number
sought to be registered by all the Selling Holders, that, in the
aggregate, when added to the number of shares or securities to
be registered under clause&nbsp;(A), equals the Offering Maximum
Number.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(c)&nbsp;The Company shall have no obligation under this
Section&nbsp;4 to make any offering of its securities, or to
complete an offering of its securities that it proposes to make,
and shall incur no liability to the Holders for its failure to
do so.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(d)&nbsp;Any Holder having notified or directed the Company to
include any or all of such Holder&#146;s Registrable Securities
in a registration statement pursuant to this Section&nbsp;4
hereof shall have the right to withdraw such notice or direction
with respect to any or all of the Registrable Securities
designated for registration thereby by giving written notice to
such effect to the Company at least five business days prior to
the anticipated effective date of such registration statement.
In the event of any such withdrawal, the Company shall amend, at
the withdrawing Holder&#146;s expense, such registration
statement and take such other actions as may be necessary so
that such withdrawn Registrable Securities are not included in
the applicable registration and not sold pursuant thereto, and
such withdrawn Registrable Securities shall continue to be
Registrable Securities in accordance herewith. No such
withdrawal shall affect the obligations of the Company with
respect to Registrable Securities not so withdrawn.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(e)&nbsp;Any Holder having notified or directed the Company to
include any or all of such Holder&#146;s Registrable Securities
in a registration statement pursuant to this Section&nbsp;4,
shall, unless otherwise agreed by the Company, offer and sell
such Registrable Securities using the same underwriter or
underwriters and on the same terms and conditions as other
securities included in such underwritten offering. Each Selling
Holder participating in the underwritten offering shall
(i)&nbsp;enter into an underwriting agreement in customary form
with the managing underwriter or underwriters containing
conventional representations, warranties, allocation of
expenses, and customary closing conditions with any underwriter
who acquires any Registrable Securities; and (ii)&nbsp;complete
and execute all reasonable questionnaires, powers of attorney,
indemnities, lock-up letters and other documents required under
the terms of such underwritten offering.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
5.<I>&nbsp;OBLIGATIONS OF THE COMPANY.</I> In connection with
the Company&#146;s obligations with respect to registration of
Registrable Securities pursuant to Sections&nbsp;3 and 4 hereof,
the Company shall use its reasonable best efforts to effect or
cause such registration to permit the sale of the Registrable
Securities by the Holders thereof in accordance with the
intended method or methods of distribution thereof described in
the registration statement relating thereto and to maintain the
effectiveness of such registration statement for the period from
the date of effectiveness (the &#147;Effective Date&#148;) of
such registration statement until the earlier of (1)&nbsp;the
date on which the disposition of all of the Registrable
Securities covered by such registration statement is completed
or (ii)&nbsp;the date all Registrable Securities are eligible to
be sold without restriction pursuant to Rule&nbsp;144(k), (such
period, the &#147;Registration Period&#148;). In connection
therewith, the Company shall, as soon as reasonably practicable:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (a)&nbsp;Pursuant to Section&nbsp;3 hereof, prepare and file
    with the SEC a registration statement on Form&nbsp;S-3, or such
    other form as may be utilized by the Company and as shall permit
    the disposition of the Registrable Securities in accordance with
    the intended method or methods thereof, as specified in writing
    by the Holders thereof;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (b)&nbsp;prepare and file with the SEC such amendments and
    supplements to such registration statement and the prospectus
    used in connection with such registration statement as may be
    necessary to keep such registration statement effective during
    the Registration Period and to comply with the provisions of the
    Securities Act with respect to the sale or other disposition of
    the Registrable Securities by the Holders, and furnish to the
    Holders of Registrable Securities registered thereby and the
    underwriters, if any, thereof and the sales or placement agent,
    if any, therefor copies of any such supplement or amendment
    prior to its being used and/or filed with the SEC;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (c)&nbsp;comply in all material respects with the provisions of
    the Securities Act applicable to the Company with respect to the
    disposition of all of the Registrable Securities covered by such</TD>
</TR>

</TABLE>

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<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Registration Statement in accordance with the intended method or
    methods of disposition by the Holders thereof;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (d)&nbsp;provide the Holders and counsel for the Holders thereof
    the opportunity to participate in the preparation of such
    registration statement, each prospectus included therein or
    filed with the SEC and each supplement or amendment thereto;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (e)&nbsp;furnish to each Holder of Registrable Securities to be
    registered in such registration statement (A)&nbsp;such number
    of copies (including manually executed and conformed copies) of
    such registration statement and of each amendment thereof and
    supplement thereto (including all annexes, appendices, schedules
    and exhibits), (B)&nbsp;such number of copies of the prospectus
    used in connection with such registration statement (including
    each preliminary prospectus, any summary prospectus and the
    final prospectus and including prospectus supplements), and
    (C)&nbsp;such number of copies of other documents, if any,
    incorporated by reference in such registration statement or
    prospectus, in each case as each respective party may reasonably
    request in order to facilitate the offering and disposition of
    the Registrable Securities owned by any such Holder, offered or
    sold by such agent, or underwritten by such underwriter, and to
    permit each Holder, agent and underwriter to satisfy the
    prospectus delivery requirements of the Securities Act; and the
    Company hereby consents to the use of such prospectus (including
    each preliminary prospectus, any summary prospectus and the
    final prospectus) and any amendment or supplement thereto by
    each Holder and by any such agent and underwriter, in each case
    in the form most recently provided to such party by the Company,
    in connection with the offering and sale of the Registrable
    Securities covered by the prospectus (including each preliminary
    prospectus, any summary prospectus and the final prospectus) or
    any supplement or amendment thereto;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (f)&nbsp;promptly notify the Holders of Registrable Securities
    registered thereby, the managing underwriter or underwriters, if
    any, thereof and the sales or placement agent, if any, therefor
    and, if requested by any such party, confirm such notification
    in writing, (A)&nbsp;when a prospectus or any prospectus
    supplement has been filed with the SEC and when the registration
    statement or any post-effective amendment thereto has been filed
    with and declared effective by the SEC, (B)&nbsp;of the issuance
    by the SEC of any stop order or the coming to its knowledge of
    the initiation of any proceedings for that purpose, (C)&nbsp;of
    the receipt by the Company of any notification with respect to
    the suspension of the qualification of any of the Registrable
    Securities for sale in any jurisdiction or the initiation or
    threatening of any proceeding for such purpose, (D)&nbsp;of the
    occurrence of any event that requires the making of any changes
    to the registration statement or related prospectus so that such
    documents will not contain any untrue statement of a material
    fact or omit to state any material fact required to be stated
    therein or necessary to make the statements therein, in light of
    the circumstances under which they were made, not misleading
    (and the Company shall promptly prepare and furnish to the
    Holders upon request, a reasonable number of copies of a
    supplemented or amended prospectus such that, as thereafter
    delivered to the purchasers of the Registrable Securities, such
    prospectus shall not include an untrue statement of a material
    fact or omit to state a material fact required to be stated
    therein or necessary to make the statements therein, in light of
    the circumstances under which they are made, not misleading),
    and (E)&nbsp;of the Company&#146;s determination that the filing
    of a post-effective amendment to the registration statement
    shall be necessary or appropriate; and, upon the receipt of any
    notice from the Company of the occurrence of any event of the
    kind described in this Section&nbsp;5(f)(B), (C) (but only with
    respect to the jurisdiction suspending qualification),
    (D)&nbsp;or (E), (1)&nbsp;the Holders, underwriters and agents
    shall forthwith discontinue any offer and disposition of the
    Registrable Securities pursuant to the registration statement
    covering such Registrable Securities and, if so directed by the
    Company, shall deliver to the Company all copies (other than
    permanent file copies) of the defective prospectus covering such
    Registrable Securities that are then in the Holders&#146;,
    underwriters&#146; and agents&#146; possession or control, and
    (2)&nbsp;the Company shall, as promptly as practicable
    thereafter (subject, in the case of Section&nbsp;5 (f)(D), to
    the provisions of Section&nbsp;10), take such action as shall be
    necessary to remedy such event to permit the Holders (and the
    underwriters and agents, if any) to continue to offer and
    dispose of the Registrable</TD>
</TR>

</TABLE>

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    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

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    <TD>&nbsp;</TD>
    <TD align="left">
    Securities, including, without limitation, preparing and filing
    with the SEC and furnishing to the Holders a supplement or
    amendment to such prospectus so that, as thereafter deliverable
    to the purchasers of the Registrable Securities, such prospectus
    will not contain any untrue statement of a material fact or omit
    to state a material fact necessary to make the statements
    therein, in the light of the circumstances under which they were
    made, not misleading;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (g)&nbsp;use its reasonable best efforts to register or qualify
    the Registrable Securities covered by such registration
    statement under and to the extent required by such other
    securities or state blue sky laws of such jurisdictions as any
    Holder, underwriter or sales or placement agent shall request,
    and do any and all other acts and things that may be necessary
    under such securities or blue sky laws to enable the Holders,
    underwriters and agents to consummate the public sale or other
    disposition in such jurisdictions of the Registrable Securities
    owned by the Holders, except that the Company shall not for any
    such purpose be required to qualify to do business as a foreign
    corporation in any jurisdiction wherein it is not so qualified
    or submit to liability for state or local taxes where it would
    not otherwise be liable for such taxes;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (h)&nbsp;if requested by any managing underwriter or
    underwriters, any placement or sales agent or any Holder,
    promptly incorporate in a prospectus supplement or
    post-effective amendment such information as is required by the
    applicable rules and regulations of the SEC and as such managing
    underwriter or underwriters, such agent or such Holder specifies
    should be included therein relating to the terms of the sale of
    such Registrable Securities, including, without limitation,
    information with respect to the number of Registrable Securities
    being sold by the Holders or agent or to any underwriters, the
    name and description of the Holders, agent or underwriter, the
    offering price of such Registrable Securities and any discount,
    commission or other compensation payable in respect thereof, the
    purchase price being paid therefor by such underwriters and with
    respect to any other terms of the offering of the Registrable
    Securities to be sold by the Holders or agent or to such
    underwriters; and make all required filings of such prospectus
    supplement or post-effective amendment promptly after
    notification of the matters to be incorporated in such
    prospectus supplement or post-effective amendment;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (i)&nbsp;use its reasonable best efforts to obtain the consent
    or approval of each governmental agency or authority, whether
    federal, state or local, that may be required to effect such
    registration or the offering or sale in connection therewith or
    to enable the Holders to offer, or to consummate the disposition
    of, the Registrable Securities;&nbsp;and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (j)&nbsp;furnish to the Holders or the managing underwriters, if
    any, on a timely basis and at the Company&#146;s expense,
    certificates free of any restrictive legends representing
    ownership of the Registrable Securities being sold in such
    denominations and registered in such names as the Holders or
    managing underwriters shall request, and notify the transfer
    agent of the Company&#146;s securities that it may effect
    transfers of the Registrable Securities upon notification from
    each respective Holder that it has complied with this Agreement
    and the prospectus delivery requirements of the Securities Act.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
6.<I>&nbsp;FURNISH INFORMATION.</I> It shall be a condition
precedent to the obligations of the Company to take any action
pursuant to this Agreement that the selling Holders shall
furnish to the Company such information regarding them and the
securities held by them as the Company shall reasonably request
and as shall be required in order to effect any registration by
the Company pursuant to this Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
7.<I>&nbsp;EXPENSES OF REGISTRATION.</I> All expenses incurred
in connection with the registration of the Registrable
Securities pursuant to this Agreement (excluding underwriting,
brokerage and other selling commissions and discounts),
including without limitation all registration and qualification
and filing fees, printing, and fees and disbursements of counsel
for the Company, shall be borne by the Company. In all cases,
the selling Holders will be responsible for, if applicable,
underwriters discounts, brokerage or other selling commissions
and fees and disbursements of counsel for such Holders.
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
8.<I>&nbsp;INDEMNIFICATION AND CONTRIBUTION.</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(a)&nbsp;To the extent permitted by law, the Company will
indemnify and hold harmless each selling Holder, any investment
banking firm acting as an underwriter for the selling Holder,
any broker/ dealer acting on behalf of any selling Holder and
each officer and director of such selling Holder, such
underwriter, such broker/ dealer and each person, if any, who
controls such selling Holder, underwriter or broker/ dealer
within the meaning of the Securities Act, against any losses,
claims, damages or liabilities, joint or several, to which they
may become subject under the Securities Act or otherwise,
insofar as such losses, claims, damages or liabilities (or
actions in respect thereof) arise out of or are based upon any
untrue or alleged untrue statement of any material fact
contained in the Registration Statement, in any preliminary
prospectus or final prospectus relating thereto or in any
amendments or supplements to the Registration Statement or any
such preliminary prospectus or final prospectus, or arise out of
or are based upon the omission or alleged omission to state
therein a material fact required to be stated therein, or
necessary to make the statements therein not misleading in light
of the circumstances in which they are made; and will reimburse
such selling Holder, such underwriter, broker/ dealer or such
officer, director or controlling person for any legal or other
expenses reasonably incurred by them in connection with
investigating or defending any such loss, claim, damage,
liability or action; provided, however, that the indemnity
agreement contained in this Section&nbsp;8(a) shall not apply to
amounts paid in settlement of any such loss, claim, damage,
liability or action if such settlement is effected without the
consent of the Company (which consent shall not be unreasonably
withheld), nor shall the Company be liable in any such case for
any such loss, damage, liability or action to the extent that it
arises out of or is based upon an untrue statement or alleged
untrue statement or omission or alleged omission made in
connection with the Registration Statement, any preliminary
prospectus or final prospectus relating thereto or any
amendments or supplements to the Registration Statement or any
such preliminary prospectus or final prospectus, in reliance
upon and in conformity with written information furnished
expressly for use in connection with the Registration Statement
or any such preliminary prospectus or final prospectus by or on
behalf of the selling Holder, any underwriter for them or
controlling person with respect to them. This Section&nbsp;8(a)
shall not inure to the benefit of any selling Holder with
respect to any person asserting loss, damage, liability or
action as a result of a selling Holder selling Registrable
Securities during a Suspension Period (as defined in
Section&nbsp;10 hereof) or selling in violation of
Section&nbsp;5(c) of the Securities Act.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)&nbsp;To the extent permitted by law, each selling Holder
will severally and not jointly indemnify and hold harmless the
Company, each of its officers and directors, each person, if
any, who controls the Company within the meaning of the
Securities Act, any investment banking firm acting as
underwriter for the Company or the selling Holder, or any
broker/ dealer acting on behalf of the Company or any other
selling Holder, and all other selling Holders against any
losses, claims, damages or liabilities to which the Company or
any such director, officer, controlling person, underwriter, or
broker/ dealer or other selling Holder may become subject to,
under the Securities Act or otherwise, insofar as such losses,
claims, damages or liabilities (or actions in respect thereto)
arise out of or are based upon any untrue or alleged untrue
statement of any material fact contained in the Registration
Statement or any preliminary prospectus or final prospectus,
relating thereto or in any amendments or supplements to the
Registration Statement or any such preliminary prospectus or
final prospectus, or arise out of or are based upon the omission
or alleged omission to state therein a material fact required to
be stated therein or necessary to make the statements therein
not misleading in light of the circumstances in which they are
made, in each case to the extent and only to the extent that
such untrue statement or alleged untrue statement or omission or
alleged omission was made in the Registration Statement, in any
preliminary prospectus or final prospectus relating thereto or
in any amendments or supplements to the Registration Statement
or any such preliminary prospectus or final prospectus, in
reliance upon and in conformity with written information
furnished by such selling Holder expressly for use in connection
with the Registration Statement or any preliminary prospectus or
final prospectus related thereto; and such selling Holders will
reimburse any legal or other expenses reasonably incurred by the
Company or any such director, officer, controlling person,
underwriter, broker/ dealer or other selling Holder in
connection with investigating or defending any such loss, claim,
damage, liability or action; provided, however, that the
liability of each selling Holder hereunder shall be limited to
the gross proceeds (net of underwriting discounts and
</DIV>

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<DIV align="left" style="font-size: 10pt;">
commissions, if any) received by such selling Holder from the
sale of Registrable Securities covered by the Registration
Statement; and provided, further, however, that the indemnity
agreement contained in this Section&nbsp;8(b) shall not apply to
amounts paid in settlement of any such loss, claim, damage,
liability or action if such settlement is effected without the
consent of those selling Holder(s) against which the request for
indemnity is being made (which consent shall not be unreasonably
withheld).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(c)&nbsp;Promptly after receipt by an indemnified party under
this Section&nbsp;8 of notice of the commencement of any action,
such indemnified party will, if a claim in respect thereof is to
be made against any indemnifying party under this
Section&nbsp;8, notify the indemnifying party in writing of the
commencement thereof and the indemnifying party shall have the
right to participate in and, to the extent the indemnifying
party desires, jointly with any other indemnifying party
similarly noticed, to assume at its expense the defense thereof
with counsel mutually satisfactory to the indemnifying parties
with the consent of the indemnified party (which consent will
not be unreasonably withheld, conditioned or delayed). In the
event that the indemnifying party assumes any such defense, the
indemnified party may participate in such defense with its own
counsel and at its own expense, provided, however, that the
counsel for the indemnifying party shall act as lead counsel in
all matters pertaining to such defense or settlement of such
claim and the indemnifying party shall only pay for such
indemnified party&#146;s expenses for the period prior to the
date of its participation on such defense. The failure to notify
an indemnifying party promptly of the commencement of any such
action, if materially prejudicial to his ability to defend such
action, shall relieve such indemnifying party of any liability
to the indemnified party under this Section&nbsp;8 to the extent
of such prejudice, but the omission so to notify the
indemnifying party will not relieve him of any liability which
he may have to any indemnified party otherwise other than under
this Section&nbsp;8.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(d)&nbsp;Notwithstanding anything to the contrary herein,
without the prior written consent of the indemnified party, the
indemnifying party shall not be entitled to settle any claim,
suit or proceeding unless in connection with such settlement the
indemnified party receives an unconditional release with respect
to the subject matter of such claim, suit or proceeding and such
settlement does not contain any admission of fault by the
indemnified party.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(e)&nbsp;In order to provide for just and equitable contribution
under the Securities Act in any case in which (i)&nbsp;the
indemnified party makes a claim for indemnification pursuant to
Section&nbsp;8 hereof but is judicially determined (by the entry
of a final judgment or decree by a court of competent
jurisdiction and the expiration of time to appeal or the denial
of the last right of appeal) that such indemnification may not
be enforced in such case notwithstanding the fact that the
express provisions of Section&nbsp;8 hereof provide for
indemnification in such case, or (ii)&nbsp;contribution under
the Securities Act may be required on the part of any
indemnified party, then the Company and the applicable selling
Holder shall contribute to the aggregate losses, claims, damages
or liabilities to which they may be subject (which shall, for
all purposes of this Agreement, include, but not be limited to,
all reasonable costs of defense and investigation and all
reasonable attorneys&#146; fees), in either such case (after
contribution from others) on the basis of relative fault as well
as any other relevant equitable considerations. The relative
fault shall be determined by reference to, among other things,
whether the untrue or alleged untrue statement of a material
fact or the omission or alleged omission to state a material
fact relates to information supplied by the Company on the one
hand or the applicable selling Holder on the other hand, and the
parties&#146; relative intent, knowledge, access to information
and opportunity to correct or prevent such statement or
omission. The Company and the Holders agree that it would not be
just and equitable if contribution pursuant to this
Section&nbsp;8(e) were determined by pro rata allocation or by
any other method of allocation which does not take account of
the equitable considerations referred to in this
Section&nbsp;8(e). The amount paid or payable by an indemnified
party as a result of the losses, claims, damages or liabilities
(or actions in respect thereof) referred to above in this
Section&nbsp;8 shall be deemed to include any legal or other
expenses reasonably incurred by such indemnified party in
connection with investigating or defending any such action or
claim. No person guilty of fraudulent misrepresentation (within
the meaning of Section&nbsp;11(f) of the Securities Act) shall
be entitled to contribution from any person who was not guilty
of such fraudulent misrepresentation.
</DIV>

<P align="center" style="font-size: 10pt;">D-7

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
Notwithstanding any other provision of this Section&nbsp;8(e),
in no event shall (i)&nbsp;any selling Holder be required to
undertake liability to any person under this Section&nbsp;8(e)
for any amounts in excess of the dollar amount of the gross
proceeds to be received by the selling Holder from the sale of
such selling Holder&#146;s Registrable Securities (after
deducting any fees, discounts and commissions applicable
thereto) pursuant to any Registration Statement under which such
Registrable Securities are or were to be registered under the
Securities Act and (ii)&nbsp;any underwriter be required to
undertake liability to any person hereunder for any amounts in
excess of the aggregate discount, commission or other
compensation payable to such underwriter with respect to the
Registrable Securities underwritten by it and distributed
pursuant to the Registration Statement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
9.<I>&nbsp;REPORTS UNDER THE EXCHANGE ACT.</I> With respect to
each Holder, from the date of Closing until the date on which
all of the Registrable Securities that such Holder owns become
freely transferable under Rule&nbsp;144(k) promulgated under the
Securities Act, the Company agrees to use its reasonable best
efforts: (i)&nbsp;to make and keep public information available,
as those terms are understood and defined in the General
Instructions to Form&nbsp;S-3, or any successor or substitute
form, and in Rule&nbsp;144, (ii)&nbsp;to file with the SEC all
reports and other documents required to be filed by an issuer of
securities registered under Sections&nbsp;13 or 15(d) of the
Exchange Act, and (iii)&nbsp;if such filings are not available
via EDGAR, to furnish to such Holder as long as the Holder owns
or has the right to acquire any Registrable Securities prior to
the applicable termination date described above, a copy of the
most recent annual or quarterly report of the Company, and such
other reports and documents so filed by the Company under
Sections&nbsp;13 or 15(d) of the Exchange Act as may be
reasonably requested in availing such Holder of any rule or
regulation of the SEC permitting the selling of any such
Registrable Securities without registration.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
10.<I>&nbsp;DEFERRAL AND LOCK-UP.</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(a)&nbsp;Notwithstanding anything in this Agreement to the
contrary, if the Company shall furnish to the selling Holders a
certificate signed by the President and Chief Executive Officer
of the Company stating that the Board has made the good faith
determination (i)&nbsp;that continued use by the selling Holders
of the Registration Statement for purposes of effecting offers
or sales of Registrable Securities pursuant thereto would
require, under the Securities Act, disclosure in the
Registration Statement (or the prospectus relating thereto) of
material, nonpublic information concerning the Company, its
business or prospects or any proposed transaction involving the
Company, and (ii)&nbsp;that such disclosure would be premature
and would be adverse to the Company, its business or prospects
or any such proposed transaction or would make the successful
consummation by the Company of any such transaction
significantly less likely, then the right of the selling Holders
to use the Registration Statement (and the prospectus relating
thereto) for purposes of effecting offers or sales of
Registrable Securities pursuant thereto shall be suspended for a
period (the &#147;Suspension Period&#148;) of not more than
60&nbsp;days after delivery by the Company of the certificate
referred to above in this Section&nbsp;10. During the Suspension
Period, none of the Holders shall offer or sell any Registrable
Securities pursuant to or in reliance upon the Registration
Statement (or the prospectus relating thereto). The Company may
not exercise this right more than two times in each year after
the Closing. Notwithstanding anything herein to the contrary,
during such time as any Selling Holder or an affiliate thereof
is a director or executive officer of the Company, such Selling
Holder or an affiliate thereof shall be subject to the policies
of the Company regarding insider sales of the Company&#146;s
securities and shall not effect any offers or sales of
Registrable Securities pursuant to or in reliance upon the
Registration Statement or otherwise in violation of such
policies.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)&nbsp;Holders shall not, during the period starting with the
Company&#146;s date of filing of, and ending ninety calendar
days immediately following the effective date of any
registration statement pertaining to securities of the Company,
if so requested by an underwriter in an underwritten offering
for the Company, effect any public sale or distribution of any
of the Company&#146;s equity securities including a sale
pursuant to Rule&nbsp;144. In addition, if requested by the
Company, the Stockholders shall not effect any public sale or
distribution of any of the Registrable Securities pursuant to
the Registration Statement, during the ten-day period prior to
any period during which an exchange ratio or similar valuation
formula based upon the trading prices of the Company&#146;s
common stock is being calculated.
</DIV>

<P align="center" style="font-size: 10pt;">D-8

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
11.<I>&nbsp;TRANSFER OF REGISTRATION RIGHTS.</I> None of the
rights of any Holder under this Agreement shall be transferred
or assigned to any person. Notwithstanding the foregoing, a
Holder&#146;s right under this Agreement may be assigned, in
whole or in part, to any Permitted Transferee, and any Permitted
Transferee shall be deemed to be a Holder (and, to the extent
required by law, amend the Registration Statement in connection
with such assignment); provided that no such assignment shall be
effective or confer any right on any such assignee unless, prior
to such assignment, the assignee agrees in writing, by executing
and delivering to the Company an Instrument of Adherence in the
form attached as Exhibit&nbsp;A, that such assignee will be
bound by all provisions binding on a Holder hereunder. A
&#147;Permitted Transferee&#148; is (i)&nbsp;any member of the
family of a Holder, including such Holder&#146;s spouse and
descendants and any trust, partnership, corporation, limited
liability company or other entity for the sole benefit of such
spouse and/or descendants to whom or which any Registrable
Securities have been transferred by such Holder for estate or
tax planning purposes or any charity or foundation to which
Registrable Securities have been transferred by such Holder for
estate or tax planning or charitable purposes; provided that
such transferee agrees to be bound by the provisions hereof in
accordance with the preceding sentence and (ii)&nbsp;any trust,
partnership, corporation, limited liability company or other
entity for the sole benefit of such Stockholder and which entity
is controlled solely by such Stockholder. Neither this Agreement
nor any provision hereof is intended to confer upon any Person
other than the parties hereto and any Permitted Transferee any
rights or remedies hereunder.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
12.<I>&nbsp;ENTIRE AGREEMENT.</I> This Agreement constitutes and
contains the entire agreement and understanding of the parties
with respect to the subject matter hereof, and it also
supersedes any and all prior negotiations, correspondence,
agreements or understandings with respect to the subject matter
hereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
13.<I>&nbsp;MISCELLANEOUS.</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(a)&nbsp;This Agreement and the obligations of the Company
hereunder shall terminate on the earlier of: (i)&nbsp;the first
date on which no Registrable Securities remain outstanding, or
(ii)&nbsp;the five-year anniversary of the effectiveness of the
Registration Statement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)&nbsp;This Agreement shall be governed by and construed and
enforced in accordance with the laws of the State of Delaware,
and shall be binding upon and inure to the benefit of the
parties hereto and their respective heirs, personal
representatives, successors or permitted assigns. This Agreement
shall also be binding upon and inure to the benefit of any
Permitted Transferee of any of the Registrable Securities
provided that the terms and conditions of Section&nbsp;11 hereof
are satisfied.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(c)&nbsp;(i)&nbsp;Any notices, reports or other correspondence
(hereinafter collectively referred to as
&#147;correspondence&#148;) required or permitted to be given
hereunder shall be sent by courier (overnight or same day) or
telecopy or delivered by hand to the party to whom such
correspondence is required or permitted to be given hereunder.
The date of giving any notice shall be the date of its actual
receipt.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(ii)&nbsp;All correspondence to the Company shall be addressed
as follows:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    GSC Holdings Corp.</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    2250 William D. Tate Avenue</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Grapevine, Texas 76051</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Telecopy No: 817-424-2820</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Attention: R. Richard Fontaine</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
with a copy to:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Bryan Cave LLP</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    1290 Avenue of the Americas</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    New York, NY 10104</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Telecopy No.: 212-541-1400</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Attention: Michael N. Rosen</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">D-9

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(iii)&nbsp;All correspondence to any Holder shall be addressed
as follows:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Mr.&nbsp;James J. Kim</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    EB Nevada Inc.</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    911 Mount Pleasant Road</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Bryn Mawr, PA 19010</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Telecopy No.: 610-525-7881</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
with a copy to:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Drinker Biddle&nbsp;&#38; Reath, LLP</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    One Logan Square</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    18th&nbsp;&#38; Cherry Streets</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Philadelphia, PA 19103</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Telecopy No.: 215-988-2757</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Attention: Stephen Burdumy</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Any party may change the address to which correspondence to it
is to be addressed by notification as provided for herein.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(d)&nbsp;The parties acknowledge and agree that in the event of
any breach of this Agreement, remedies at law may be inadequate,
and each of the parties hereto shall be entitled to seek
specific performance of the obligations of the other parties
hereto and such appropriate injunctive relief as may be granted
by a court of competent jurisdiction.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(e)&nbsp;This Agreement may be executed in a number of
counterparts, each of which together shall for all purposes
constitute one Agreement, binding on all the parties hereto
notwithstanding that all such parties have not signed the same
counterpart.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(f)&nbsp;Any action of the Stockholders under this Agreement
shall be made by approval of those Stockholders holding the
majority of the Registrable Shares on the date of such action.
</DIV>

<P align="center" style="font-size: 10pt;">D-10

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
IN WITNESS WHEREOF, the parties hereto have executed this
Registration Rights Agreement as of the date and year first
above written.
</DIV>

<DIV style="margin-top: 24pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="60%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    GSC HOLDINGS CORP.</TD>
</TR>

</TABLE>

<DIV style="margin-top: 48pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="2%"></TD>
    <TD width="58%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>By:&nbsp;</TD>
    <TD align="center">
     </TD>
</TR>

</TABLE>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 3pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="60%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <DIV style="border-top: 1pt solid #000000; font-size: 1pt; margin-top: 2pt" align="left">&nbsp;</DIV></TD>
</TR>

<TR valign="top"  style="font-size: 10pt;">
    <TD>&nbsp;</TD>
    <TD align="left">
    Name:&nbsp;</TD>
</TR>

<TR valign="top"  style="font-size: 10pt;">
    <TD>&nbsp;</TD>
    <TD align="left">
    Title:</TD>
</TR>

<TR>
    <TD style="font-size: 24pt">&nbsp;</TD>
</TR>

<TR valign="top"  style="font-size: 10pt;">
    <TD>&nbsp;</TD>
    <TD align="left">
    STOCKHOLDERS:</TD>
</TR>

<TR>
    <TD style="font-size: 24pt">&nbsp;</TD>
</TR>

<TR valign="top"  style="font-size: 10pt;">
    <TD>&nbsp;</TD>
    <TD align="left">
    EB NEVADA INC.</TD>
</TR>

</TABLE>

<DIV style="margin-top: 48pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="2%"></TD>
    <TD width="58%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>By:&nbsp;</TD>
    <TD align="center">
     </TD>
</TR>

</TABLE>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 3pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="60%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <DIV style="border-top: 1pt solid #000000; font-size: 1pt; margin-top: 2pt" align="left">&nbsp;</DIV></TD>
</TR>

<TR valign="top"  style="font-size: 10pt;">
    <TD>&nbsp;</TD>
    <TD align="left">
    Name:&nbsp;</TD>
</TR>

<TR valign="top"  style="font-size: 10pt;">
    <TD>&nbsp;</TD>
    <TD align="left">
    Title:</TD>
</TR>

<TR>
    <TD style="font-size: 24pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <DIV style="border-top: 1pt solid #000000; font-size: 1pt; margin-top: 2pt" align="left">&nbsp;</DIV></TD>
</TR>

<TR valign="top"  style="font-size: 10pt;">
    <TD>&nbsp;</TD>
    <TD align="left">
    James J. Kim</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">D-11

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>EXHIBIT A</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>INSTRUMENT OF ADHERENCE</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Reference is hereby made to that certain Registration Rights
Agreement, dated as
of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;,
2005, between GSC Holdings Corp., a Delaware corporation (the
&#147;Company&#148;), the Stockholders and the Permitted
Transferees, as amended and in effect from time to time (the
&#147;Registration Rights Agreement&#148;). Capitalized terms
used herein without definition shall have the respective
meanings ascribed thereto in the Registration Rights Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The undersigned, in order to become the owner or holder of, or
have the right to
acquire, &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares
of Registrable Securities, hereby agrees that, from and after
the date hereof, the undersigned has become a party to the
Registration Rights Agreement in the capacity of a Permitted
Transferee, and is entitled to all of the benefits under, and is
subject to all of the obligations, restrictions and limitations
set forth in, the Registration Rights Agreement that are
applicable to Permitted Transferees. This Instrument of
Adherence shall take effect and shall become a part of the
Registration Rights Agreement immediately upon execution.
</DIV>

<DIV style="margin-top: 22pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="60%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <U>Print Name of Permitted Transferee</U>:</TD>
</TR>

<TR>
    <TD style="font-size: 22pt">&nbsp;</TD>
</TR>

<TR valign="top"  style="font-size: 3pt;">
    <TD>&nbsp;</TD>
    <TD align="left">
    <DIV style="border-top: 1pt solid #000000; font-size: 1pt; margin-top: 2pt" align="left">&nbsp;</DIV></TD>
</TR>

</TABLE>

<DIV style="margin-top: 36pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="2%"></TD>
    <TD width="58%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>By:&nbsp;</TD>
    <TD align="center">
     </TD>
</TR>

</TABLE>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 3pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="60%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <DIV style="border-top: 1pt solid #000000; font-size: 1pt; margin-top: 2pt" align="left">&nbsp;</DIV></TD>
</TR>

<TR valign="top"  style="font-size: 10pt;">
    <TD>&nbsp;</TD>
    <TD align="left">
    Name:&nbsp;</TD>
</TR>

<TR valign="top"  style="font-size: 10pt;">
    <TD>&nbsp;</TD>
    <TD align="left">
    Title:</TD>
</TR>

<TR>
    <TD style="font-size: 22pt">&nbsp;</TD>
</TR>

<TR valign="top"  style="font-size: 10pt;">
    <TD>&nbsp;</TD>
    <TD align="left">
    <U>Permitted Transferee&#146;s Address and Fax Number for
    Notice</U>:</TD>
</TR>

<TR>
    <TD style="font-size: 22pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <DIV style="border-top: 1pt solid #000000; font-size: 1pt; margin-top: 2pt" align="left">&nbsp;</DIV></TD>
</TR>

<TR>
    <TD style="font-size: 11pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <DIV style="border-top: 1pt solid #000000; font-size: 1pt; margin-top: 2pt" align="left">&nbsp;</DIV></TD>
</TR>

<TR>
    <TD style="font-size: 11pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <DIV style="border-top: 1pt solid #000000; font-size: 1pt; margin-top: 2pt" align="left">&nbsp;</DIV></TD>
</TR>

<TR>
    <TD style="font-size: 22pt">&nbsp;</TD>
</TR>

<TR valign="top"  style="font-size: 10pt;">
    <TD>&nbsp;</TD>
    <TD align="left">
    Accepted:</TD>
</TR>

<TR>
    <TD style="font-size: 22pt">&nbsp;</TD>
</TR>

<TR valign="top"  style="font-size: 10pt;">
    <TD>&nbsp;</TD>
    <TD align="left">
    GSC HOLDINGS CORP.</TD>
</TR>

</TABLE>

<DIV style="margin-top: 36pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="2%"></TD>
    <TD width="58%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>By:&nbsp;</TD>
    <TD align="center">
     </TD>
</TR>

</TABLE>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 3pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="60%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <DIV style="border-top: 1pt solid #000000; font-size: 1pt; margin-top: 2pt" align="left">&nbsp;</DIV></TD>
</TR>

<TR valign="top"  style="font-size: 10pt;">
    <TD>&nbsp;</TD>
    <TD align="left">
    Name:&nbsp;</TD>
</TR>

<TR valign="top"  style="font-size: 10pt;">
    <TD>&nbsp;</TD>
    <TD align="left">
    Title:</TD>
</TR>

<TR>
    <TD style="font-size: 22pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <FONT style="font-size: 10pt">Date:&nbsp;<DIV style="border-top: 1pt solid #000000; font-size: 1pt; margin-top: 2pt" align="left">&nbsp;</DIV>
    </FONT></TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">D-12

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV align="left" style="font-size: 10pt;">

</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='263'></A>
</DIV>

<!-- link1 "ANNEX E NON-COMPETITION AGREEMENT" -->

<DIV align="right" style="font-size: 10pt;">
<B>ANNEX E</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>NON-COMPETITION AGREEMENT</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
THIS NON-COMPETITION AGREEMENT (this
&#147;<U>Agreement</U>&#148;) is made and entered into as of
the &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;day
of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;,
2005, by and between GSC Holdings Corp., a Delaware corporation
(&#147;<U>Holdco</U>&#148;), and Mr.&nbsp;James J. Kim
(&#147;<U>Founder</U>&#148;), with reference to the following
facts and circumstances.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
RECITALS
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
A.&nbsp;Founder is a significant stockholder of the shares of
Company Common Stock issued by Electronics Boutique Holdings
Corp., a Delaware corporation (the &#147;<U>Company</U>&#148;).
Concurrently with the execution of this Agreement, Holdco,
GameStop Corp., a Delaware corporation
(&#147;<U>GameStop</U>&#148;), Cowboy Subsidiary LLC, a Delaware
limited liability company and wholly-owned subsidiary of Holdco
(the &#147;<U>GameStop Merger Sub</U>&#148;), Eagle Subsidiary
LLC, a Delaware limited liability company and wholly-owned
subsidiary of Holdco (the &#147;<U>Company Merger Sub</U>&#148;
and together with GameStop Merger Sub, the &#147;<U>Merger
Subs</U>&#148;), and the Company are entering into an Agreement
and Plan of Merger (the &#147;<U>Merger Agreement</U>&#148;)
whereby the GameStop Merger Sub will be merged with and into
GameStop (the &#147;<U>GameStop Merger</U>&#148;) and the
Company Merger Sub will be merged with and into the Company (the
&#147;<U>Company Merger</U>&#148; and together with the GameStop
Merger, the &#147;<U>Mergers</U>&#148;), and GameStop and the
Company will continue as the surviving corporations and become
wholly-owned subsidiaries of Holdco. All capitalized terms not
otherwise defined shall have the meaning given to them in the
Merger Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
B.&nbsp;As consideration for and in connection with the Company
Merger, all shares of the Company Common Stock immediately prior
to the Effective Time, will be converted into and become a right
to receive (i)&nbsp;cash, as specified in the Merger Agreement;
and (ii)&nbsp;a certain number of shares of Holdco Common Stock,
in accordance with the Merger Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
C.&nbsp;Founder has induced Holdco and GameStop to enter into
the Merger Agreement in reliance upon the agreement of Founder
to protect and preserve the trade secrets, copyrights,
confidential information and customer goodwill and business
advantage of Holdco, GameStop and the Company following the
Mergers by protecting, preserving and fostering the
Company&#146;s trade secrets and other confidential information
and customer goodwill, and agreeing not to compete with Holdco,
GameStop and the Company set forth with greater specificity in
Section&nbsp;2 of this Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
D.&nbsp;The parties acknowledge that in the circumstances set
forth in this Agreement, any competition by Founder with the
business of Holdco, GameStop and the Company following the
consummation of the Merger Agreement would be detrimental to the
business of Holdco, GameStop and the Company and to
Holdco&#146;s and GameStop&#146;ss expectations in connection
with the Mergers, except for the competition expressly permitted
by this Agreement. Accordingly, it is a condition to
Holdco&#146;s and GameStop&#146;s obligations under the Merger
Agreement that Founder enter into this Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
NOW, THEREFORE, in consideration of the foregoing, the mutual
covenants contained herein, and other valuable consideration,
the receipt and adequacy of which are hereby acknowledged,
Founder and Holdco hereby agree as follows.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>1&nbsp;Representations and Warranties of Founder.</B> Founder
hereby represents and warrants to Holdco and GameStop as follows:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    1.1&nbsp;The Company is engaged in the Business.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    1.2&nbsp;Founder currently beneficially owns approximately 48.5%
    of the shares of Company Common Stock.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    1.3&nbsp;Founder acknowledges that Holdco and GameStop would not
    enter into the Merger Agreement unless Founder agreed not to
    undertake activities competitive with the existing Business and
    operations of the Company, GameStop and Holdco, as contemplated
    in connection with the</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">E-1

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<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Mergers and in the related documentation, and that, accordingly,
    this Agreement is a material inducement to Holdco and GameStop
    to enter into and carry out the terms of the Merger Agreement.
    Founder has therefore entered into this Agreement to induce
    Holdco and GameStop to enter into the Merger Agreement.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    1.4&nbsp;This Agreement does not constitute a violation of any
    other agreement to which Founder is a party and has been
    executed and delivered by Founder after having an opportunity to
    consult with Founder&#146;s legal and other professional counsel
    and advisors.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    1.5&nbsp;Founder has full power and authority to enter into, and
    has obtained all necessary authorizations and approvals required
    for the execution and delivery of, this Agreement.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    1.6&nbsp;Founder has taken all necessary actions to execute and
    deliver this Agreement, and it constitutes a valid and binding
    agreement of Founder, enforceable in accordance with its terms,
    subject to applicable bankruptcy, insolvency, moratorium or
    other similar laws relating to creditors&#146; rights and
    general principles of equity.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>2&nbsp;Agreement Not to Compete.</B> Founder hereby covenants
and agrees with Holdco and GameStop as follows:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <B>2.1&nbsp;Territories.</B> The parties hereto acknowledge that
    the Company has, directly or indirectly, conducted the Business
    throughout each of the Territories. For the purposes hereof, the
    term &#147;<U>Territories</U>&#148; shall mean any and all of
    the following geographic areas:</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="6%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    2.1.1&nbsp;Each and every county or other political or
    geographical subdivision in the United States of America and the
    dependent territories of the United States of America,
    including, without limitation, Guam and Puerto Rico;&nbsp;and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    2.1.2&nbsp;Each and every county or other political or
    geographical subdivision in the countries in which the Company
    currently operates stores, which countries are listed on
    <U>Schedule&nbsp;A</U> attached hereto.</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <B>2.2&nbsp;Non-Competition.</B></TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="6%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    2.2.1&nbsp;For purposes of this Agreement, the Company&#146;s
    primary business consists of selling video game hardware and
    software, PC entertainment software, pre-played video games and
    related accessories and products to consumers (the
    &#147;<U>Business</U>&#148;). The Business has been developed
    and is being developed by Founder, among others, in his
    capacities as director and chairman of the board of directors of
    the Company. Founder has primarily engaged in these activities
    in Pennsylvania. The Company has places of business and/or has
    developed and established certain business relations and
    customer loyalty and goodwill throughout the Territories. For
    the purposes of this Agreement, a &#147;<U>Competitive
    Business</U>&#148; means any person, sole proprietorship,
    partnership, limited liability company, corporation, firm,
    association, or other business organization, enterprise or
    entity (collectively, &#147;<U>Person</U>&#148;), which is
    engaged in, or engages in after the date of this Agreement,
    directly or indirectly (including without limitation through
    control, directly or indirectly, of any Person), the Business.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    2.2.2&nbsp;Commencing as of the Effective Time and until the
    expiration of the Non-Competition Term (as hereinafter defined),
    Founder shall not, within the Territories, either individually,
    or as a member of any group, without the prior written consent
    of Holdco (which consent can be withheld at Holdco&#146;s sole
    and absolute discretion), (i)&nbsp;acquire any ownership
    interest in, or (ii)&nbsp;provide services to, or
    (iii)&nbsp;assist or participate in the organization, promotion
    or founding of, or (iv)&nbsp;except as contemplated by the
    Merger Agreement, serve on the Board of Directors or Advisory
    Board of, or (v)&nbsp;act as a consultant to, or (vi)&nbsp;serve
    as an officer, employee, representative or agent of, or
    otherwise participate in any capacity in the management or
    operations of, any Person which at the time of such activity by
    Founder is a Competitive Business; <U>provided</U>,
    <U>however</U>, that Founder&#146;s acquisition for investment
    purposes only of less than five percent (5%) of the outstanding
    securities of any corporation, partnership, joint venture or</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">E-2

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<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="6%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    other business enterprise which are regularly traded on a
    national securities exchange or through the National Market
    System of the National Association of Securities Dealers
    Automated Quotation System, will not violate
    Section&nbsp;2.2.2(i) of this Agreement.</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <B>2.3&nbsp;Non-Interference With Customers or Suppliers.</B>
    Without limiting Section&nbsp;2.2 of this Agreement in any way,
    commencing as of the Effective Time and until the expiration of
    the Non-Solicitation Term, Founder shall not, directly or
    indirectly, without the prior written consent of Holdco (which
    consent can be withheld at Holdco&#146;s sole and absolute
    discretion), either for his own benefit or purpose or on behalf
    of any Competitive Business, interfere with or attempt to
    interfere with the business relationship between the Company or
    Holdco (or any of its Affiliates) or any Person, if such Person
    then is, or has been within twelve (12)&nbsp;months preceding
    the date of such activity by Founder: (x)&nbsp;a customer or
    supplier of the Company or any of its Affiliates or (y)&nbsp;a
    Person to whom the Company has provided services or engaged in
    business.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <B>2.4&nbsp;Non-Solicitation of Employees and Consultants.</B>
    Without limiting Section&nbsp;2.2 of this Agreement in any way,
    commencing as of the Effective Time and until the expiration of
    the Non-Solicitation Term, Founder shall not, directly or
    indirectly, without the prior written consent of Holdco (which
    consent can be withheld at Holdco&#146;s sole and absolute
    discretion), either alone or jointly, with or on behalf of
    others, directly or indirectly, whether as principal, partner,
    agent, stockholder, director, employee, consultant or otherwise,
    or solicit the employment or engagement of, or otherwise entice
    away from the employment or engagement of Holdco or any of its
    Affiliates, either for Founder&#146;s own benefit or purpose or
    for any other person, firm or company, any person who was
    employed or engaged by Holdco or any such Affiliate during the
    twelve (12)&nbsp;months preceding the date of such activity by
    the Founder, whether or not such person would commit any breach
    of contract by reason of his or her leaving the service of
    Holdco or any of its Affiliates; <U>provided</U>,
    <U>however</U>, this Section&nbsp;2.4 shall not apply to family
    members of the Founder.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <B>2.5&nbsp;Term.</B> For purposes of this Agreement,
    (i)&nbsp;the &#147;<U>Non-Competition Term</U>&#148; with
    respect to Founder shall mean the period commencing as of the
    Effective Time and ending three (3)&nbsp;years following the
    Effective Time; and (ii)&nbsp;the &#147;<U>Non-Solicitation
    Term</U>&#148; with respect to Founder shall mean the period
    commencing as of the Effective Time and ending two
    (2)&nbsp;years following the Effective Time. Notwithstanding
    anything herein to the contrary, this Agreement shall terminate
    upon termination of the Merger Agreement in accordance with its
    terms.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>3&nbsp;Enforcement Rights.</B>
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <B>3.1&nbsp;Injunctive Relief.</B> Founder acknowledges and
    agrees that in the event of a prospective or actual breach of
    this Agreement by Founder, damages may not be an adequate remedy
    to compensate Holdco, GameStop and the Company for the loss of
    goodwill and customer loyalty, impairment of trade secrets and
    other proprietary information, and other harm to the Business of
    the Company. Accordingly, in addition to all other rights and
    remedies Holdco may have at law or in equity, in the event of a
    threatened or actual breach of any of the terms and provisions
    of this Agreement, in the event Holdco seeks a temporary
    restraining order, or seeks either temporary or preliminary
    injunctive relief, to prevent or enjoin such anticipated or
    actual breach, Founder waives any and all rights to and agrees
    not to assert or argue that Holdco has failed to demonstrate
    irreparable injury or the necessity of the posting of a bond in
    connection with any such proceeding, provided that nothing in
    this Agreement shall be construed to limit the damages otherwise
    recoverable by Holdco in any such event.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <B>3.2&nbsp;Notification of Third Parties.</B> In addition,
    Holdco shall have the right in good faith to inform any entity
    described in Section&nbsp;2 above, and the principals of such
    entities, and any other third party that Holdco reasonably
    believes to be, or to be contemplating, participating with
    Founder or receiving from Founder assistance in violation of the
    terms of this Agreement and of the rights of Holdco, GameStop
    and the Company under this Agreement, and that participation by
    such entity or persons with Founder in activities in violation
    of Founder&#146;s agreement not to compete with or solicit</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">E-3

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<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    customers, employees, or consultants from Holdco, GameStop and
    the Company may give rise to claims by Holdco, GameStop and the
    Company against such entity, persons or third parties.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>4&nbsp;General Provisions.</B>
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <B>4.1&nbsp;Severability.</B> Whenever possible, each provision
    of this Agreement shall be interpreted in such manner as to be
    valid under applicable laws. However, the provisions of this
    Agreement are severable, and if any one or more provisions may
    be determined to be invalid, unenforceable or prohibited, in
    whole or in part, under such applicable law by a court or other
    tribunal of competent jurisdiction, such provision shall be
    construed, interpreted, modified or limited by such court or
    tribunal to effectuate its purpose to the maximum legally
    permissible extent. If such provision cannot be construed and
    interpreted so as to be valid under such law, each such
    provision shall be ineffective to the extent of such invalidity
    or prohibition without invalidating the remainder of any such
    provision or the remaining provisions of this Agreement, and
    this Agreement shall be construed to the maximum extent possible
    to carry out its terms without such invalid or unenforceable
    provision or portion of such provision.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    Without limiting the generality of the foregoing, if any
    covenant or other provision contained in this Agreement shall be
    declared to be invalid, unenforceable or prohibited by a court
    or other tribunal of competent jurisdiction with respect to any
    part of the Territories, such covenant or provision shall not be
    affected with respect to any other part of the Territory, and
    each of the parties agrees and submits to the reduction of such
    territorial restriction to such an area as said court shall deem
    reasonable.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <B>4.2&nbsp;Binding Effect; Benefit to Successors.</B> This
    Agreement shall be binding upon Founder, and shall inure to the
    benefit of Holdco and its parent, affiliated and subsidiary
    corporations, successors, representatives and assigns, including
    any successors to or assigns of Holdco.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <B>4.3&nbsp;Third Party Beneficiary.</B> The parties agree that
    the Company and GameStop are third party beneficiaries of this
    Agreement and, independently of Holdco, shall be entitled to
    enforce this Agreement in all cases and in all respects as if it
    were Holdco.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <B>4.4&nbsp;Attorneys&#146; Fees and Costs.</B> In the event of
    a breach, or alleged breach, of any agreement, term or provision
    of this Agreement and the filing of a suit or other legal
    proceeding in connection with the enforcement or construction of
    any provision of this Agreement, the prevailing party in such
    suit or other proceeding shall, in addition to any other
    remedies available to it, be entitled to reasonable
    attorneys&#146; fees and costs from the losing party.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <B>4.5&nbsp;Governing Law.</B> This Agreement shall be governed
    by and construed in accordance with the internal laws (and not
    laws pertaining to conflicts or choice of law) of the State of
    Delaware in all respects, including all matters of validity,
    construction and performance of this Agreement.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <B>4.6&nbsp;Entire Agreement.</B> This Agreement constitutes the
    entire agreement between Founder and Holdco with respect to the
    subject matter of this Agreement. No claim of waiver,
    modification, amendment, consent, or acquiescence with respect
    to any of the provisions shall be made against any party, except
    on the basis of a written instrument duly executed the party
    alleged to be bound thereby.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <B>4.7&nbsp;Failure to Enforce.</B> The failure of any party to
    this Agreement to enforce any threatened or existing violation,
    default or breach of this Agreement shall not be deemed a waiver
    of such a violation, default or breach, and the other party to
    this Agreement have the right to enforce the same at a later
    time and the right to waive in writing any condition imposed in
    this Agreement for such party&#146;s benefit without thereby
    waiving any other provision or condition.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <B>4.8&nbsp;Incorporation of Recitals.</B> The Recitals to this
    Agreement are an integral part of this Agreement and are hereby
    incorporated in this Agreement verbatim as a part of this
    Agreement as if set forth in full.</TD>
</TR>

</TABLE>

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<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <B>4.9&nbsp;Notices.</B> Any and all notices and demands by any
    party to this Agreement to any other party, required or desired
    to be given under this Agreement, shall be in writing and shall
    be validly given or made only if deposited in the United States
    mail, express, certified or registered, postage prepaid, return
    receipt requested, or if made by Federal Express or other
    similar delivery service keeping records of deliveries and
    attempted deliveries. If such notice or demand is served in the
    manner provided, service shall be conclusively deemed made on
    the first business day delivery is attempted or upon receipt,
    whichever is sooner. The parties may change their address for
    the purpose of receiving notices or demands by a written notice
    given in the manner set forth above to the other, which notice
    of change of address shall not become effective, however, until
    the actual receipt of such notice by the other.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
To Founder:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Mr.&nbsp;James J. Kim</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    911 Mount Pleasant Road</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Bryn Mawr, PA 19010</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Telecopy No.: 610-525-7881</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
With a copy to:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Drinker Biddle&nbsp;&#38; Reath, LLP</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    One Logan Square</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    18th&nbsp;&#38; Cherry Streets</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Philadelphia, PA 19103</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Telecopy No.: 215-988-2757</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Attention: Stephen Burdumy</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
To Holdco:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    GSC Holdings Corp.</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    2250 William D. Tate Avenue</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Grapevine, Texas 76051</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Telecopy No: 817-424-2820</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Attention: R. Richard Fontaine</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
With a copy to:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Bryan Cave LLP</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    1290 Avenue of the Americas</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    New York, New York 10104</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Telecopy No: 212-541-1400</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Attention: Michael N. Rosen</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <B>4.10&nbsp;Counterparts.</B> This Agreement may be executed in
    counterparts, each of which shall be deemed an original and
    together which shall constitute one and the same agreement.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">E-5

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
IN WITNESS WHEREOF, the parties have entered into this Agreement
as of the date first set forth herein.
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; margin-top: 12pt; ">

<TR style="font-size: 1pt;">
    <TD width="49%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="48%">&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <B>FOUNDER:</B></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <B>GSC HOLDINGS CORP.</B></TD>
</TR>

<TR>
    <TD colspan="3">&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    By:&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>

</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Mr. James J. Kim</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    &nbsp;&nbsp;&nbsp;&nbsp;Name:<BR>
    Title:</TD>
</TR>

</TABLE>
</CENTER>

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<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>SCHEDULE A</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
Australia
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
Canada
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
Denmark
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
Germany
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
Italy
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
New Zealand
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
Norway
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
Sweden
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
United Kingdom
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
Ireland
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
France
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
Spain
</DIV>

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<DIV align="left" style="font-size: 10pt;">
<A name='264'></A>
</DIV>

<!-- link1 "ANNEX F" -->

<DIV align="right" style="font-size: 10pt;">
<B>ANNEX F</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>VOTING AGREEMENT AND IRREVOCABLE PROXY</B>
</DIV>

<DIV align="right" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
April&nbsp;17, 2005
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
Electronics Boutique Holdings Corp.
</DIV>

<DIV align="left" style="font-size: 10pt;">
931 South Matlack Street
</DIV>

<DIV align="left" style="font-size: 10pt;">
West Chester, Pennsylvania 19382
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
GameStop Corp.
</DIV>

<DIV align="left" style="font-size: 10pt;">
2250 William D. Tate Avenue
</DIV>

<DIV align="left" style="font-size: 10pt;">
Grapevine, Texas 76051
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
Ladies and Gentlemen:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The undersigned (the &#147;<U>Stockholders</U>,&#148; and each a
&#147;<U>Stockholder</U>&#148;) understand that Electronics
Boutique Holdings Corp., a Delaware corporation
(&#147;<U>Company</U>&#148;), and GameStop Corp., a Delaware
corporation (&#147;<U>GameStop</U>&#148;), GameStop, Inc., a
Delaware corporation, GSC Holding Corp.
(&#147;<U>Holdco</U>&#148;), a Delaware corporation, Cowboy
Subsidiary LLC, a Delaware limited liability company, and Eagle
Subsidiary LLC, a Delaware limited liability company, propose to
enter into an Agreement and Plan of Merger, dated as of
April&nbsp;17, 2005 (the &#147;<U>Merger Agreement</U>&#148;),
providing for, among other things, the Mergers, in which, among
other things, (i)&nbsp;each issued and outstanding share of
Class&nbsp;A common stock, par value $0.001&nbsp;per share, of
GameStop (&#147;<U>GameStop Class&nbsp;A Common Stock</U>&#148;)
will be converted into the right to receive one share of
Class&nbsp;A Common Stock, par value $0.001&nbsp;per share, of
Holdco (the &#147;<U>Holdco Class&nbsp;A Common Stock</U>&#148;)
and (ii)&nbsp;each issued and outstanding share of Class&nbsp;B
Common Stock, par value $0.001&nbsp;per share, of GameStop
(&#147;<U>GameStop Class&nbsp;B Common Stock</U>&#148; and
together with GameStop Class&nbsp;A Common Stock, the
&#147;<U>GameStop Common Stock</U>&#148;) will be converted into
the right to receive one share of Class&nbsp;B Common Stock, par
value $0.001&nbsp;per share, of Holdco (the &#147;<U>Holdco
Class&nbsp;B Common Stock</U>&#148; and together with the Holdco
Class&nbsp;A Common Stock, the &#147;<U>Holdco Common
Stock</U>&#148;). Capitalized terms used without definition in
this Voting Agreement (the &#147;<U>Agreement</U>&#148;) shall
have the meanings ascribed thereto in the Merger Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Each Stockholder is the beneficial and record owner of
(i)&nbsp;that number of shares of GameStop Common Stock,
(ii)&nbsp;outstanding options, warrants and other rights to
acquire shares of GameStop Common Stock, and (iii)&nbsp;the
additional securities of GameStop; in each case, as set forth
opposite the name of such Stockholder on Schedule&nbsp;I to this
Agreement. Each Stockholder, in its capacity as such, is
entering into this Agreement in consideration of, and as a
condition to, the Company&#146;s willingness to enter into the
Merger Agreement and to consummate the transactions contemplated
thereby.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Each Stockholder confirms its agreement with each of you as
follows:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

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    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    1.&nbsp;Each Stockholder represents, warrants and agrees that
    (a)&nbsp;Schedule&nbsp;I to this Agreement sets forth the number
    and type of shares of GameStop Common Stock (such shares,
    together with any shares of GameStop Common Stock acquired by
    such Stockholder on or after the date of this Agreement, whether
    by exercise of options, warrants or other derivative securities
    or otherwise, the &#147;<U>Shares</U>&#148;) and the number and
    type of shares of GameStop Common Stock that are issuable upon
    exercise of outstanding warrants, options or other derivative
    securities, whether or not exercisable (the &#147;<U>Derivative
    Securities</U>&#148;), of which such Stockholder is the record
    or beneficial owner, (b)&nbsp;such Stockholder owns such Shares
    and Derivative Securities, free and clear of all liens, pledges,
    charges, encumbrances, voting agreements and commitments of
    every kind, except for encumbrances imposed by margin accounts
    maintained by each Stockholder or pledges to investment banks or
    other third party lenders, and (c)&nbsp;such Stockholder has the
    power to vote all Shares without restriction and no proxies
    heretofore given in respect of any or all of the Shares are
    irrevocable and that any such proxies have heretofore been or
    are hereby revoked. Each Stockholder further represents and
    warrants</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">F-1

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    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    that (i)&nbsp;the Spin-Off and the transactions contemplated by
    the Merger Agreement are not part of a plan (or series of
    related transactions) involving such Stockholder (and to the
    knowledge of such Stockholder, involving any other Person)
    pursuant to which one or more Persons acquire directly or
    indirectly stock representing a 50-percent or greater interest
    (measured by voting power or value) in GameStop (for these
    purposes, the acquisition of GameStop by Holdco in accordance
    with the terms of the Merger Agreement will not be considered a
    plan to acquire a 50-percent or greater interest in GameStop)
    and (ii)&nbsp;it had no agreement, understanding, arrangement or
    Substantial Negotiations with GameStop, the Company, or any
    other Person regarding the transactions contemplated by the
    Merger Agreement or similar transactions at any time prior to
    November&nbsp;13, 2004 and to the Stockholder&#146;s knowledge,
    no Person had an agreement, understanding, arrangement or
    Substantial Negotiations with GameStop, Barnes&nbsp;&#38; Noble,
    Inc. (&#147;<U>B&#38;N</U>&#148;) or the Company regarding the
    transactions contemplated by the Merger Agreement or similar
    transactions at any time prior to November&nbsp;13, 2004. For
    purposes of this Agreement, &#147;<U>Spin-Off</U>&#148; means
    the distribution of GameStop Class&nbsp;B Common Stock by
    B&#38;N on November&nbsp;12, 2004, which was intended to be
    tax-free pursuant to Section&nbsp;355 of the Code, and
    &#147;<U>Substantial Negotiations</U>&#148; include discussions
    of significant economic terms (e.g. the exchange ratio in a
    reorganization) between, on the one hand, such Stockholders or
    one or more officers, directors or controlling stockholders of
    GameStop or B&#38;N or another Person or Persons with the
    implicit or explicit permission of one or more officers,
    directors or controlling stockholders of GameStop or B&#38;N
    with, on the other hand, one or more officers, directors or
    controlling stockholders of the Company or another Person or
    Persons with the implicit or explicit permission of one or more
    officers, directors or controlling stockholders of the Company.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    2.&nbsp;Each Stockholder agrees that it will not, directly or
    indirectly, sell, transfer, assign, pledge, encumber or
    otherwise dispose of any of the Shares, or any interest therein,
    or any other securities convertible into or exchangeable for
    GameStop Common Stock (including the Derivative Securities), or
    any voting rights with respect thereto or enter into any
    contract, option or other arrangement or understanding with
    respect thereto (including any voting trust or agreement and the
    granting of any proxy) other than (a)&nbsp;pursuant to the
    Mergers, (b)&nbsp;encumbrances imposed by margin accounts
    maintained by each Stockholder or pledges to investment banks or
    other third party lenders and any other transfers resulting
    therefrom, (c)&nbsp;transfers to family members of any
    Stockholder, (d)&nbsp;transfers by operation of law, by will or
    pursuant to the laws of decent or distribution, or (e)&nbsp;with
    the prior written consent of the Company; provided that, in the
    case of clauses&nbsp;(c) and (d)&nbsp;such family member or
    transferee shall become a party to this Agreement subject to its
    terms and obligations to the same extent as such Stockholder, by
    executing and delivering to GameStop and the Company a
    counterpart to this Agreement. Each Stockholder hereby agrees to
    authorize and request GameStop to notify its transfer agent that
    there is a stop transfer order with respect to all of the Shares
    and that this Agreement places limits on the voting of the
    Shares. If so requested by the Company, each Stockholder agrees
    that the certificates representing Shares shall bear a legend
    stating that they are subject to this Agreement and to the
    irrevocable proxy granted in paragraph&nbsp;4 of this Agreement.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    3.&nbsp;At every meeting of the stockholders of GameStop called,
    and at every postponement or adjournment thereof, and on every
    action or approval by written consent of the stockholders of
    GameStop, each Stockholder irrevocably agrees to vote any Shares
    entitled to be voted thereat or to cause any such Shares to be
    voted: (i)&nbsp;in favor of adoption of the Merger Agreement;
    and (ii)&nbsp;against (A)&nbsp;any proposal made in opposition
    to adoption of the Merger Agreement or in competition or
    inconsistent with the GameStop Merger or any other transaction
    contemplated by the Merger Agreement, (B)&nbsp;any GameStop
    Takeover Proposal, (C)&nbsp;any change in the management or
    board of directors of GameStop (other than as contemplated by
    the Merger Agreement) and (D)&nbsp;any action or agreement that
    would result in a breach of any representation, warranty,
    covenant or agreement or any other obligation of GameStop under
    the Merger Agreement or of such Stockholder under this
    Agreement. The obligations of each Stockholder specified in this
    paragraph&nbsp;3 shall apply whether or not (x)&nbsp;the Board
    of Directors of GameStop (or any committee thereof) shall
    (I)&nbsp;withdraw (or modify in a manner adverse to the
    Company), or publicly propose to withdraw (or modify in a manner
    adverse to the Company), the approval, recommendation or
    declaration of</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">F-2

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    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    advisability by such Board of Directors or any such committee
    thereof of the Merger Agreement, the GameStop Merger or the
    other transactions contemplated by the Merger Agreement, or
    (II)&nbsp;recommend, adopt or approve, or propose publicly to
    recommend, adopt or approve, any GameStop Takeover Proposal, or
    (III)&nbsp;approve or recommend, or allow GameStop or any of its
    Subsidiaries to execute or enter into, any letter of intent,
    memorandum of understanding, agreement in principle, merger
    agreement, acquisition agreement, option agreement, joint
    venture agreement, partnership agreement or similar agreement
    constituting or related to any GameStop Takeover Proposal (other
    than a confidentiality agreement referred to in
    Section&nbsp;5.3(a) of the Merger Agreement), or
    (y)&nbsp;GameStop breaches any of its representations,
    warranties, agreements or covenants set forth in the Merger
    Agreement.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    4.&nbsp;In furtherance of the agreements contained in
    paragraph&nbsp;3 of this Agreement and as security for such
    agreements, each Stockholder hereby irrevocably appoints R.
    Richard Fontaine and Daniel A. DeMatteo (the
    &#147;<U>Grantees</U>&#148;), and each of them individually, as
    the sole and exclusive attorneys-in-fact and proxies of such
    Stockholder, for and in the name, place and stead of such
    Stockholder, with full power of substitution and resubstitution,
    to vote, grant a consent or approval in respect of, or execute
    and deliver a proxy to vote, those Shares that are GameStop
    Common Stock (a)&nbsp;in favor of the adoption of the Merger
    Agreement, (b)&nbsp;against any matter referred to in
    paragraph&nbsp;3(ii) of this Agreement, and (c)&nbsp;in the
    discretion of the Grantees, with respect to any proposed
    postponements or adjournments of any annual or special meeting
    of the stockholders of GameStop held in connection with any of
    the foregoing. Each Stockholder hereby affirms that the
    irrevocable proxy granted by this paragraph&nbsp;4 is given in
    connection with, and in consideration of, the execution of the
    Merger Agreement by Company, GameStop, GSC Holdings Corp.,
    Cowboy Subsidiary LLC and Eagle Subsidiary LLC and that such
    irrevocable proxy is given to secure the performance of the
    duties of such Stockholder under this Agreement. Each
    Stockholder hereby further affirms that the proxy granted in
    this paragraph&nbsp;4 is coupled with an interest sufficient in
    law to support an irrevocable power and may under no
    circumstances be revoked by a Stockholder. Each Stockholder
    hereby ratifies and confirms all that the Grantees may lawfully
    do or cause to be done by virtue hereof. The proxy contained
    herein with respect to shares of GameStop Common Stock is
    intended to be irrevocable in accordance with the provisions of
    Section&nbsp;212(e) of the Delaware General Corporation Law.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    5.&nbsp;The parties acknowledge and agree that nothing contained
    in this Agreement shall restrict, limit or prohibit any
    affiliate of any Stockholder from exercising (in his capacity as
    a director of GameStop or any such Person) his fiduciary duties
    as such a director.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    6.&nbsp;Each Stockholder represents and warrants that it has all
    necessary power and authority to enter into this Agreement and
    to grant the irrevocable proxy provided for in paragraph&nbsp;5,
    and that this Agreement is the legal, valid and binding
    agreement of such Stockholder and is enforceable against such
    Stockholder in accordance with its terms.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    7.&nbsp;The representations and warranties contained in this
    Agreement are accurate in all respects as of the date of this
    Agreement.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    8.&nbsp;This Agreement may be terminated as to any Stockholder
    at the option of such Stockholder, Company or GameStop at any
    time after the earlier of (a)&nbsp;termination of the Merger
    Agreement in accordance with its terms or (b)&nbsp;the day
    following the Effective Time.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    9.&nbsp;From time to time each Stockholder shall take such
    further actions as the Company may reasonably request for the
    purpose of carrying out and furthering the intent of this
    Agreement.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    10.&nbsp;This Agreement shall be governed by, and construed in
    accordance with, the laws of the State of Delaware, without
    giving effect to principles of conflict of laws.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    11.&nbsp;Each Stockholder recognizes and acknowledges that a
    breach by it of any covenants or agreements contained in this
    Agreement will cause the Company to sustain damages for which it
    would not have an adequate remedy at law for money damages, and
    therefore each Stockholder</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">F-3

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    <TD>&nbsp;</TD>
    <TD align="left">
    agrees that in the event of any such breach, the Company shall
    be entitled to specific performance of such covenants and
    agreements and injunctive and other equitable relief in addition
    to any other remedy to which it may be entitled, at law or in
    equity, without the necessity of posting any bond.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    12.&nbsp;The effectiveness of this Agreement shall be
    conditioned upon the execution and delivery of the Merger
    Agreement by each of the parties thereto.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    13.&nbsp;Except as provided in Section&nbsp;2(b), each
    Stockholder agrees that this Agreement and the obligations
    hereunder shall attach to the Shares and shall be binding upon
    any Person to which legal or beneficial ownership of the Shares
    shall pass, whether by operation of law or otherwise. Neither
    this Agreement, nor any of the interests or obligations
    hereunder may be assigned or delegated by Stockholder, and any
    attempted or purported assignment or delegation of any such
    interests or obligations shall be void.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    14.&nbsp;This Agreement may be executed in two or more
    counterparts (including by facsimile), each of which shall be
    deemed an original and all of which together shall constitute
    one instrument.</TD>
</TR>

</TABLE>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The parties have caused this Agreement to be duly executed on
the date first above written.
</DIV>

<DIV style="margin-top: 24pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="60%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    /s/ Leonard Riggio</TD>
</TR>

<TR valign="top"  style="font-size: 3pt;">
    <TD>&nbsp;</TD>
    <TD align="left">
    <DIV style="border-top: 1pt solid #000000; font-size: 1pt; margin-top: 2pt" align="left">&nbsp;</DIV></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Leonard Riggio</TD>
</TR>

<TR>
    <TD style="font-size: 24pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    BARNES&nbsp;&#38; NOBLE COLLEGE BOOKSELLERS, INC.</TD>
</TR>

</TABLE>

<DIV style="margin-top: 48pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="2%"></TD>
    <TD width="58%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>By:&nbsp;</TD>
    <TD align="left">
    /s/ Leonard Riggio</TD>
</TR>

</TABLE>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 3pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="60%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <DIV style="border-top: 1pt solid #000000; font-size: 1pt; margin-top: 2pt" align="left">&nbsp;</DIV></TD>
</TR>

<TR valign="top"  style="font-size: 10pt;">
    <TD>&nbsp;</TD>
    <TD align="left">
    Name:&nbsp;Leonard Riggio</TD>
</TR>

</TABLE>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="8%"></TD>
    <TD width="52%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD align="left">
    Chairman</TD>
</TR>

</TABLE>

<DIV style="margin-top: 24pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="60%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    /s/ Leonard Riggio</TD>
</TR>

<TR valign="top"  style="font-size: 3pt;">
    <TD>&nbsp;</TD>
    <TD align="left">
    <DIV style="border-top: 1pt solid #000000; font-size: 1pt; margin-top: 2pt" align="left">&nbsp;</DIV></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Leonard Riggio, as Co-Trustee of The Riggio</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Foundation</TD>
</TR>

<TR>
    <TD style="font-size: 24pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Acknowledged and Agreed:</TD>
</TR>

<TR>
    <TD style="font-size: 24pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    GAMESTOP CORP.</TD>
</TR>

</TABLE>

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<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="2%"></TD>
    <TD width="58%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>By:&nbsp;</TD>
    <TD align="left">
    /s/ R. Richard Fontaine</TD>
</TR>

</TABLE>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 3pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="60%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <DIV style="border-top: 1pt solid #000000; font-size: 1pt; margin-top: 2pt" align="left">&nbsp;</DIV></TD>
</TR>

<TR valign="top"  style="font-size: 10pt;">
    <TD>&nbsp;</TD>
    <TD align="left">
    Name:&nbsp;R. Richard Fontaine</TD>
</TR>

</TABLE>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="8%"></TD>
    <TD width="52%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD align="left">
    Chief Executive Officer</TD>
</TR>

</TABLE>

<DIV style="margin-top: 24pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="60%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    ELECTRONICS BOUTIQUE HOLDINGS CORP.</TD>
</TR>

</TABLE>

<DIV style="margin-top: 48pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="2%"></TD>
    <TD width="58%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>By:&nbsp;</TD>
    <TD align="left">
    /s/ Jeffrey W. Griffiths</TD>
</TR>

</TABLE>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 3pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="60%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <DIV style="border-top: 1pt solid #000000; font-size: 1pt; margin-top: 2pt" align="left">&nbsp;</DIV></TD>
</TR>

<TR valign="top"  style="font-size: 10pt;">
    <TD>&nbsp;</TD>
    <TD align="left">
    Name:&nbsp;Jeffrey W. Griffiths</TD>
</TR>

</TABLE>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="8%"></TD>
    <TD width="52%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD align="left">
    President and Chief Executive Officer</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">F-5

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>SCHEDULE I</B>
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; margin-top: 12pt; ">

<TR style="font-size: 1pt;">
    <TD width="61%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="36%">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap><B>Number of Shares</B></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD align="center" nowrap><B>Name of Stockholder</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap><B>of GameStop Owned</B></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Leonard Riggio</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Class&nbsp;A Common Stock: 4,500,000(1)</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Class&nbsp;B Common Stock: 5,256,936(2)</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Barnes&nbsp;&#38; Noble College Booksellers, Inc.</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Class&nbsp;B Common Stock: 1,126,913(2)</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    The Riggio Foundation</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Class&nbsp;B Common Stock: 654,946(2)</TD>
</TR>

</TABLE>
</CENTER>

<DIV align="left" style="font-size: 3pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<DIV style="width: 18%; border-top: 1.0pt solid black; font-size: 1pt">&nbsp;</DIV>
</DIV>

<DIV style="margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>(1)&nbsp;</TD>
    <TD align="left">
    All of these shares are issuable upon the exercise of stock
    options.</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>(2)&nbsp;</TD>
    <TD align="left">
    Mr.&nbsp;Riggio is the direct beneficial owner of
    3,475,077&nbsp;shares of Class&nbsp;B Common Stock.
    Mr.&nbsp;Riggio is the indirect beneficial owner of
    1,126,913&nbsp;shares of Class&nbsp;B Common Stock owned by
    Barnes&nbsp;&#38; Noble College Booksellers, Inc., a New York
    corporation, of which Mr.&nbsp;Riggio owns all of the currently
    outstanding voting securities. As co-trustee of The Riggio
    Foundation, a charitable trust, Mr.&nbsp;Riggio is the indirect
    beneficial owner of 654,946&nbsp;shares of Class&nbsp;B Common
    Stock owned by The Riggio Foundation. Excluded from the
    definition of &#147;Shares&#148; under this Agreement are
    302,712&nbsp;shares of Class&nbsp;B Common Stock held in a rabbi
    trust established by Barnes&nbsp;&#38; Noble, Inc. for the
    benefit of Mr.&nbsp;Riggio pursuant to a deferred compensation
    arrangement, but over which Mr.&nbsp;Riggio has no voting power.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">F-6

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>AMENDMENT TO VOTING AGREEMENT AND IRREVOCABLE PROXY</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
This Amendment to Voting Agreement and Irrevocable Proxy (this
&#147;<U>Amendment</U>&#148;), dated as of April&nbsp;19, 2005,
is entered into by and among Leonard Riggio, Barnes&nbsp;&#38;
Noble College Booksellers, Inc., The Riggio Foundation
(collectively, the &#147;<U>Stockholders</U>&#148;, and each a
&#147;<U>Stockholder</U>&#148;), Electronics Boutique Holdings
Corp., a Delaware corporation (&#147;<U>EB</U>&#148;), and
GameStop Corp., a Delaware corporation (&#147;GameStop&#148;).
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
BACKGROUND
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
A. The Stockholders are parties to that certain Voting Agreement
and Irrevocable Proxy, dated as of April&nbsp;17, 2005 (the
&#147;<U>Riggio Group Voting Agreement</U>&#148;), pursuant to
which, among other things, the Stockholders agreed to vote all
shares of GameStop Common Stock beneficially owned by them in
favor of the adoption of that certain Agreement and Plan of
Merger, dated as of April&nbsp;17, 2005, by and among GameStop,
GameStop, Inc., GSC Holdings Corp., Cowboy Subsidiary LLC, Eagle
Subsidiary LLC, and EB (the &#147;<U>Merger
Agreement</U>&#148;), and not to sell or otherwise transfer any
shares of GameStop Common Stock prior to the termination of such
Riggio Group Voting Agreement in accordance with its terms.
Capitalized terms not otherwise defined herein shall have the
meanings ascribed to such terms in the Riggio Group Voting
Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
B.&nbsp;The Stockholders desire to amend the Riggio Group Voting
Agreement to change the Grantees named therein.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
NOW, THEREFORE, in consideration of the foregoing premises and
other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, intending to be
legally bound hereby, the parties agree as follows:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <I><U>Paragraph&nbsp;4</U>.</I> The first sentence of
    Paragraph&nbsp;4 of the Riggio Group Voting Agreement is hereby
    amended by deleting the words &#147;R. Richard Fontaine and
    Daniel A. DeMatteo&#148; and replacing them with the following:</TD>
</TR>

</TABLE>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;Jeffrey W. Griffiths and Daniel J. Kaufman&#148;
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <I><U>Conflict</U>.</I> In the event of any conflict between the
    terms of the Riggio Group Voting Agreement and the terms of this
    Amendment, the terms of this Amendment shall control. </TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <I><U>Counterparts</U>.</I> This Amendment may be executed in
    counterparts, each of which shall constitute an original and
    together shall constitute one and the same document.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <I><U>Effectiveness of Agreement</U>.</I> Except as expressly
    amended hereby, all provisions of the Riggio Group Voting
    Agreement shall remain in full force and effect.</TD>
</TR>

</TABLE>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
[Signature page follows]
</DIV>

<P align="center" style="font-size: 10pt;">F-7

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
IN WITNESS WHEREOF, the parties have caused this Amendment to be
duly executed on the date first above written.
</DIV>

<DIV style="margin-top: 24pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="60%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    /s/ Leonard Riggio</TD>
</TR>

<TR valign="top"  style="font-size: 3pt;">
    <TD>&nbsp;</TD>
    <TD align="left">
    <DIV style="border-top: 1pt solid #000000; font-size: 1pt; margin-top: 2pt" align="left">&nbsp;</DIV></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Leonard Riggio</TD>
</TR>

<TR>
    <TD style="font-size: 24pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    BARNES&nbsp;&#38; NOBLE COLLEGE <BR>
     BOOKSELLERS, INC.</TD>
</TR>

</TABLE>

<DIV style="margin-top: 48pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="2%"></TD>
    <TD width="58%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>By:&nbsp;</TD>
    <TD align="left">
    /s/ Leonard Riggio</TD>
</TR>

</TABLE>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 3pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="60%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <DIV style="border-top: 1pt solid #000000; font-size: 1pt; margin-top: 2pt" align="left">&nbsp;</DIV></TD>
</TR>

<TR valign="top"  style="font-size: 10pt;">
    <TD>&nbsp;</TD>
    <TD align="left">
    Name:&nbsp;Leonard Riggio</TD>
</TR>

</TABLE>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="8%"></TD>
    <TD width="52%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD align="left">
    Chairman</TD>
</TR>

</TABLE>

<DIV style="margin-top: 24pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="60%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    /s/ Leonard Riggio</TD>
</TR>

<TR valign="top"  style="font-size: 3pt;">
    <TD>&nbsp;</TD>
    <TD align="left">
    <DIV style="border-top: 1pt solid #000000; font-size: 1pt; margin-top: 2pt" align="left">&nbsp;</DIV></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Leonard Riggio, as Co-Trustee of The Riggio</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Foundation</TD>
</TR>

<TR>
    <TD style="font-size: 24pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Acknowledged and Agreed:</TD>
</TR>

<TR>
    <TD style="font-size: 24pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    GAMESTOP CORP.</TD>
</TR>

</TABLE>

<DIV style="margin-top: 48pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="2%"></TD>
    <TD width="58%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>By:&nbsp;</TD>
    <TD align="left">
    /s/ David W. Carlson</TD>
</TR>

</TABLE>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 3pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="60%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <DIV style="border-top: 1pt solid #000000; font-size: 1pt; margin-top: 2pt" align="left">&nbsp;</DIV></TD>
</TR>

<TR valign="top"  style="font-size: 10pt;">
    <TD>&nbsp;</TD>
    <TD align="left">
    Name:&nbsp;David W. Carlson</TD>
</TR>

</TABLE>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="8%"></TD>
    <TD width="52%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD align="left">
    Executive Vice President and Chief <BR>
     Financial Officer</TD>
</TR>

</TABLE>

<DIV style="margin-top: 24pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="60%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    ELECTRONICS BOUTIQUE HOLDINGS CORP.</TD>
</TR>

</TABLE>

<DIV style="margin-top: 48pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="2%"></TD>
    <TD width="58%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>By:&nbsp;</TD>
    <TD align="left">
    /s/ Jeffrey W. Griffiths</TD>
</TR>

</TABLE>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 3pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="60%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <DIV style="border-top: 1pt solid #000000; font-size: 1pt; margin-top: 2pt" align="left">&nbsp;</DIV></TD>
</TR>

<TR valign="top"  style="font-size: 10pt;">
    <TD>&nbsp;</TD>
    <TD align="left">
    Name:&nbsp;Jeffrey W. Griffiths</TD>
</TR>

</TABLE>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="8%"></TD>
    <TD width="52%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD align="left">
    President and Chief Executive Officer</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">F-8

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV align="left" style="font-size: 10pt;">
<A name='265'></A>
</DIV>

<!-- link1 "ANNEX G" -->

<DIV align="right" style="font-size: 10pt;">
<B>ANNEX G</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>[LETTERHEAD OF CITIGROUP GLOBAL MARKETS INC.]</B>
</DIV>

<DIV align="right" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
April&nbsp;17, 2005
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
The Board of Directors
</DIV>

<DIV align="left" style="font-size: 10pt;">
GameStop Corp.
</DIV>

<DIV align="left" style="font-size: 10pt;">
2250 William D. Tate Avenue
</DIV>

<DIV align="left" style="font-size: 10pt;">
Grapevine, Texas 76051
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
Members of the Board:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
You have requested our opinion as to the fairness, from a
financial point of view, to GameStop Corp.
(&#147;GameStop&#148;) of the EB Merger Consideration (as
defined below) provided for in the Agreement and Plan of Merger,
dated as of April&nbsp;17, 2005 (the &#147;Merger
Agreement&#148;), among GameStop, GameStop, Inc., a wholly owned
subsidiary of GameStop, GSC Holdings Corp., a wholly owned
subsidiary of GameStop, Inc. (&#147;Holdco&#148;), Cowboy
Subsidiary LLC (&#147;GameStop Merger Sub&#148;) and Eagle
Subsidiary LLC (&#147;EB Merger Sub&#148;), each a wholly owned
subsidiary of Holdco, and Electronics Boutique Holdings Corp.
(&#147;Electronics Boutique&#148;). As more fully described in
the Merger Agreement, GameStop Merger Sub will be merged with
and into GameStop (the &#147;GameStop Merger&#148;) and EB
Merger Sub will be merged with and into Electronics Boutique
(the &#147;Electronics Boutique Merger&#148; and, together with
the GameStop Merger, the &#147;Transaction&#148;) as a result of
which GameStop and Electronics Boutique will become wholly owned
subsidiaries of Holdco. Pursuant to the GameStop Merger,
outstanding shares of Class&nbsp;A Common Stock, par value
$0.001&nbsp;per share, of GameStop (&#147;GameStop Class&nbsp;A
Common Stock&#148;) and Class&nbsp;B Common Stock, par value
$0.001&nbsp;per share, of GameStop (&#147;GameStop Class&nbsp;B
Common Stock&#148; and, together with GameStop Class&nbsp;A
Common Stock, &#147;GameStop Common Stock&#148;) will be
converted into the right to receive shares of Class&nbsp;A
Common Stock, par value $0.001&nbsp;per share, of Holdco
(&#147;Holdco Class&nbsp;A Common Stock&#148;) and Class&nbsp;B
Common Stock, par value $0.001&nbsp;per share, of Holdco
(together with Holdco Class&nbsp;A Common Stock, &#147;Holdco
Common Stock&#148;), respectively. Pursuant to the Electronics
Boutique Merger, each outstanding share of the common stock, par
value $0.01&nbsp;per share, of Electronics Boutique
(&#147;Electronics Boutique Common Stock&#148;) will be
converted into the right to receive (i)&nbsp;$38.15&nbsp;per
share in cash (the &#147;EB Cash Consideration&#148;) and
(ii)&nbsp;0.78795 of a share of Holdco Class&nbsp;A Common Stock
(such number of shares, the &#147;EB Stock Consideration&#148;
and, together with the EB Cash Consideration, the &#147;EB
Merger Consideration&#148;).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In arriving at our opinion, we reviewed the Merger Agreement and
held discussions with certain senior officers, directors and
other representatives and advisors of GameStop and certain
senior officers and other representatives and advisors of
Electronics Boutique concerning the businesses, operations and
prospects of GameStop and Electronics Boutique. We examined
certain publicly available business and financial information
relating to GameStop and Electronics Boutique as well as certain
financial forecasts and other information and data relating to
Electronics Boutique which were provided to or discussed with us
by the managements of GameStop and Electronics Boutique,
including adjustments to the forecasts and other information and
data relating to Electronics Boutique prepared by the management
of GameStop. We also reviewed certain information prepared by
the management of GameStop relating to the potential strategic
implications and operational benefits (including the amount,
timing and achievability thereof) anticipated by the management
of GameStop to result from the Transaction. We reviewed the
financial terms of the Transaction as set forth in the Merger
Agreement in relation to, among other things: current and
historical market prices of GameStop Class&nbsp;A Common Stock
and Electronics Boutique Common Stock; the historical and
projected earnings and other operating data of GameStop and
Electronics Boutique; and the capitalization and financial
condition of GameStop and Electronics Boutique. We considered,
to the extent publicly available, the financial terms of certain
other transactions which we considered relevant in evaluating
the Transaction and analyzed certain financial, stock market and
other
</DIV>

<P align="center" style="font-size: 10pt;">G-1

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<DIV align="left" style="font-size: 10pt;">
The Board of Directors
</DIV>

<DIV align="left" style="font-size: 10pt;">
GameStop Corp.
</DIV>

<DIV align="left" style="font-size: 10pt;">
April&nbsp;17, 2005
</DIV>

<DIV align="left" style="font-size: 10pt;">
Page 2
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
publicly available information relating to the businesses of
other companies whose operations we considered relevant in
evaluating those of GameStop and Electronics Boutique. We also
reviewed the potential pro forma projected earnings per share of
the combined company relative to the projected earnings per
share of GameStop on a standalone basis based on financial
forecasts and other information and data provided to or
discussed with us by the managements of GameStop and Electronics
Boutique. In addition to the foregoing, we conducted such other
analyses and examinations and considered such other information
and financial, economic and market criteria as we deemed
appropriate in arriving at our opinion.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In rendering our opinion, we have assumed and relied, without
assuming any responsibility for independent verification, upon
the accuracy and completeness of all financial and other
information and data publicly available or provided to or
otherwise reviewed by or discussed with us and upon the
assurances of the managements of GameStop and Electronics
Boutique that they are not aware of any relevant information
that has been omitted or that remains undisclosed to us. With
respect to financial forecasts and other information and data
provided to or otherwise reviewed by or discussed with us
(including adjustments to the forecasts and other information
and data relating to Electronics Boutique prepared by the
management of GameStop and the potential strategic implications
and operational benefits anticipated by the management of
GameStop to result from the Transaction), we have been advised
by the managements of GameStop and Electronics Boutique that
such forecasts and other information and data were reasonably
prepared on bases reflecting the best currently available
estimates and judgments of the managements of GameStop and
Electronics Boutique as to the future financial performance of
GameStop and Electronics Boutique, such potential strategic
implications and operational benefits and the other matters
covered thereby and have assumed, with your consent, that the
financial results (including such potential strategic
implications and operational benefits) reflected in such
forecasts and other information and data will be realized in the
amounts and at the times projected. We have assumed, with your
consent, that the Transaction will be consummated in accordance
with its terms, without waiver, modification or amendment of any
material term, condition or agreement and that, in the course of
obtaining the necessary regulatory or third party approvals,
consents, releases and waivers for the Transaction, no delay,
limitation, restriction or condition will be imposed that would
have an adverse effect on GameStop, Electronics Boutique or
Holdco or on the contemplated benefits of the Transaction. We
also have assumed, with your consent, that each of the GameStop
Merger and the EB Merger will qualify for federal income tax
purposes as a transaction described in Section&nbsp;351 of the
Internal Revenue Code, as amended. We are not expressing any
opinion as to what the value of Holdco Common Stock actually
will be when issued pursuant to the Transaction or the prices at
which Holdco Common Stock, GameStop Common Stock or Electronics
Boutique Common Stock will trade at any time. We have not made
or been provided with an independent evaluation or appraisal of
the assets or liabilities (contingent or otherwise) of GameStop,
Electronics Boutique or Holdco nor have we made any physical
inspection of the properties or assets of GameStop, Electronics
Boutique or Holdco. We express no view as to, and our opinion
does not address, the underlying business decision of GameStop
to effect the Transaction, the relative merits of the
Transaction as compared to any alternative business strategies
that might exist for GameStop or the effect of any other
transaction in which GameStop might engage. Our opinion is
necessarily based upon information available to us, and
financial, stock market and other conditions and circumstances
existing and disclosed to us, as of the date hereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Citigroup Global Markets Inc. has acted as financial advisor to
GameStop in connection with the proposed Transaction and will
receive a fee for such services, a significant portion of which
is contingent upon the consummation of the Transaction and a
portion of which is payable in connection with the delivery of
this opinion. We and our affiliates in the past have provided,
and currently are providing, services to GameStop and certain of
its affiliates unrelated to the proposed Transaction, for which
services
</DIV>

<P align="center" style="font-size: 10pt;">G-2

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<DIV align="left" style="font-size: 10pt;">
The Board of Directors
</DIV>

<DIV align="left" style="font-size: 10pt;">
GameStop Corp.
</DIV>

<DIV align="left" style="font-size: 10pt;">
April&nbsp;17, 2005
</DIV>

<DIV align="left" style="font-size: 10pt;">
Page 3
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
we and such affiliates have received, and expect to receive,
compensation, including having acted as GameStop&#146;s
financial advisor in 2004 in connection with GameStop&#146;s
repurchase of a portion of the shares of GameStop Class&nbsp;B
Common Stock held by Barnes&nbsp;&#38; Noble, Inc.
(&#147;B&#38;N&#148;), an affiliate of Leonard Riggio, a
director and stockholder of GameStop, and the subsequent
distribution of the remaining shares of GameStop Class&nbsp;B
Common Stock held by B&#38;N to its stockholders and having
acted as financial advisor to B&#38;N in 2004 in connection with
its acquisition of barnesandnoble.com inc. We and our affiliates
also in the past have provided services to certain affiliates of
Electronics Boutique unrelated to the proposed Transaction, for
which services we and such affiliates have received
compensation, including having acted as lead manager in 2003 and
2004 for certain equity and debt securities financings, and as
sole bookrunner in 2003 for an equity securities financing, of
certain affiliates of James Kim, Chairman of the Board of
Electronics Boutique. As you are aware, one of our affiliates
also will be acting as administrative agent and will be a lender
under, and we will be acting as lead bookrunner for, certain
bank and debt or equity securities financings contemplated to be
undertaken by GameStop in connection with the Transaction, for
which services we and such affiliate expect to receive
compensation. In the ordinary course of our business, we and our
affiliates may actively trade or hold the securities of GameStop
and Electronics Boutique for our own account or for the account
of our customers and, accordingly, may at any time hold a long
or short position in such securities. In addition, we and our
affiliates (including Citigroup Inc. and its affiliates) may
maintain relationships with GameStop, Electronics Boutique and
their respective affiliates.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Our advisory services and the opinion expressed herein are
provided for the information of the Board of Directors of
GameStop in its evaluation of the proposed Transaction, and our
opinion is not intended to be and does not constitute a
recommendation to any stockholder as to how such stockholder
should vote or act on any matters relating to the proposed
Transaction.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Based upon and subject to the foregoing, our experience as
investment bankers, our work as described above and other
factors we deemed relevant, we are of the opinion that, as of
the date hereof, the EB Merger Consideration to be paid in the
Transaction is fair, from a financial point of view, to GameStop.
</DIV>

<DIV style="margin-top: 24pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

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<TR>
    <TD width="40%"></TD>
    <TD width="60%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Very truly yours,</TD>
</TR>

<TR>
    <TD style="font-size: 12pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    /s/ <FONT style="font-variant:SMALL-CAPS">Citigroup Global
    Markets Inc.
    </FONT></TD>
</TR>

<TR valign="top"  style="font-size: 3pt;">
    <TD>&nbsp;</TD>
    <TD align="left">
    <DIV style="border-top: 1pt solid #000000; font-size: 1pt; margin-top: 2pt" align="left">&nbsp;</DIV></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    CITIGROUP GLOBAL MARKETS INC.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">G-3

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<DIV align="left" style="font-size: 10pt;">
<A name='266'></A>
</DIV>

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<DIV align="right" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>ANNEX H</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Global Markets &#38; Investment Banking Group</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<IMG src="y09199ey0919901.gif" alt="LETTER HEAD OF MERRILL LYNCH">
</DIV>

<DIV align="right" style="font-size: 10pt; margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
April&nbsp;17, 2005
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
Board of Directors
</DIV>

<DIV align="left" style="font-size: 10pt;">
Electronics Boutique Holdings Corp.
</DIV>

<DIV align="left" style="font-size: 10pt;">
931 South Matlack Street
</DIV>

<DIV align="left" style="font-size: 10pt;">
West Chester, PA 19382
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
Members of the Board of Directors:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
GameStop Corp. (the &#147;Acquiror&#148;), GameStop, Inc.
(&#147;GameStop, Inc.&#148;), GSC Holdings Corp., a
newly-formed, wholly-owned subsidiary of GameStop, Inc.
(&#147;Holdco&#148;), Cowboy Subsidiary LLC, a newly-formed,
wholly-owned subsidiary of Holdco (&#147;GameStop Merger
Sub&#148;), Eagle Subsidiary LLC, a newly-formed, wholly-owned
subsidiary of Holdco (&#147;Company Merger Sub&#148;), and
Electronics Boutique Holdings Corp. (the &#147;Company&#148;)
propose to enter into an Agreement and Plan of Merger (the
&#147;Agreement&#148;) pursuant to which (a)&nbsp;the Company
Merger Sub will be merged with and into the Company in a merger
(the &#147;Company Merger&#148;) in which each share of common
stock, par value $0.01&nbsp;per share, of the Company
(&#147;Company Common Stock&#148;) issued and outstanding (other
than Cancelled Shares, which shares will be cancelled, and
Dissenting Shares (each as defined in the Agreement)) will be
converted into the right to receive the following consideration:
(i)&nbsp;$38.15 in cash (the &#147;Company Cash
Consideration&#148;) and (ii)&nbsp;0.78795&nbsp;shares of Holdco
Class&nbsp;A Common Stock, par value $0.001&nbsp;per share
(together with the Company Cash Consideration, the &#147;Company
Merger Consideration&#148;), and (b)&nbsp;GameStop Merger Sub
will be merged with and into the Acquiror in a merger (together
with the Company Merger, the &#147;Mergers&#148;) in which
(i)&nbsp;each share of Class&nbsp;A Common Stock, par value
$0.001&nbsp;per share, of the Acquiror (&#147;Acquiror
Class&nbsp;A Common Stock&#148;) issued and outstanding (other
than shares owned by Acquiror, GameStop Merger Sub or the
Company, which shares will be cancelled) will be converted into
the right to receive one share of Holdco Class&nbsp;A Common
Stock, par value $0.001&nbsp;per share (&#147;Holdco
Class&nbsp;A Common Stock&#148;) and (ii)&nbsp;each share of
Class&nbsp;B Common Stock, par value $0.001&nbsp;per share, of
the Acquiror (&#147;Acquiror Class&nbsp;B Common Stock&#148;
and, together with the Acquiror Class&nbsp;A Common Stock, the
&#147;Acquiror Common Stock&#148;) issued and outstanding (other
than shares owned by Acquiror, GameStop Merger Sub or the
Company, which shares will be cancelled) will be converted into
the right to receive one share of Holdco Class&nbsp;B Common
Stock, par value $0.001&nbsp;per share (&#147;Holdco
Class&nbsp;B Common Stock&#148; and, together with the Holdco
Class&nbsp;A Common Stock, the &#147;Holdco Common Stock&#148;).
As a result of the Mergers, the Company and Acquiror shall both
become wholly-owned subsidiaries of Holdco.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
We also understand that (i)&nbsp;simultaneously with the
execution of the Agreement, EB Nevada Inc., James J. Kim
(together, the &#147;Kim Group&#148;), the Acquiror and the
Company propose to enter into a Voting Agreement (the &#147;Kim
Group Voting Agreement&#148;) pursuant to which, among other
things, the Kim Group will agree, subject to certain
limitations, to vote all shares of Company Common Stock
beneficially owned by the Kim Group in favor of the adoption of
the Agreement and not to sell or otherwise transfer any shares
of Company Common Stock prior to the termination of the Kim
Group Voting Agreement in accordance with its terms,
(ii)&nbsp;simultaneously with the execution of the Agreement,
</DIV>

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<DIV align="left" style="font-size: 10pt;">
Leonard Riggio, Barnes&nbsp;&#38; Noble College Booksellers,
Inc., The Riggio Foundation (collectively, the &#147;Riggio
Group&#148;), the Acquiror and the Company propose to enter into
a Voting Agreement (the &#147;Riggio Group Voting
Agreement&#148;) pursuant to which, among other things, the
Riggio Group will agree to vote all shares of Acquiror Common
Stock beneficially owned by the Riggio Group in favor of the
adoption of the Agreement and not to sell or otherwise transfer
any shares of Acquiror Common Stock prior to the termination of
such Riggio Group Voting Agreement in accordance with its terms,
(iii)&nbsp;on or prior to the Closing Date (as defined in the
Agreement), Holdco and the Kim Group propose to enter into a
Registration Rights Agreement (the &#147;Registration Rights
Agreement&#148;) pursuant to which, among other things, the Kim
Group will have certain rights relating to the registration of
the Holdco Common Shares received in the Company Merger and
(iv)&nbsp;on or prior to the Closing Date, Holdco and James J.
Kim propose to enter into a Non-Competition Agreement (the
&#147;Non-Competition Agreement&#148;) pursuant to which, among
other things, Mr.&nbsp;Kim will agree, subject to the terms and
conditions of the Non-Competition Agreement, not to compete with
Holdco, Acquiror and the Company.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
You have asked us whether, in our opinion, the Company Merger
Consideration to be received pursuant to the Company Merger is
fair from a financial point of view to the holders of the
Company Common Stock, other than the Acquiror, its affiliates
and the Kim Group.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In arriving at the opinion set forth below, we have, among other
things:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (1)&nbsp;Reviewed certain publicly available business and
    financial information relating to the Company and the Acquiror
    that we deemed to be relevant;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (2)&nbsp;Reviewed certain information, including financial
    forecasts, relating to the business, earnings, cash flow,
    assets, liabilities and prospects of the Company and the
    Acquiror, as well as the amount and timing of the cost savings
    and related expenses and synergies expected to result from the
    Mergers (the &#147;Expected Synergies&#148;) furnished to us by
    each of the Company and the Acquiror;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (3)&nbsp;Conducted discussions with members of senior management
    of the Company and the Acquiror concerning the matters described
    in clauses&nbsp;1 and 2 above, as well as their respective
    businesses and prospects before and after giving effect to the
    Mergers and the Expected Synergies;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (4)&nbsp;Reviewed the market prices and valuation multiples for
    the Company Common Stock and the Acquiror Common Stock and
    compared them with those of certain publicly traded companies
    that we deemed to be relevant;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (5)&nbsp;Reviewed the results of operations of the Company and
    the Acquiror and compared them with those of certain publicly
    traded companies that we deemed to be relevant;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (6)&nbsp;Compared the proposed financial terms of the Mergers
    with the financial terms of certain other transactions that we
    deemed to be relevant;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (7)&nbsp;Participated in certain discussions and negotiations
    among representatives of the Company and the Acquiror and their
    financial and legal advisors;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (8)&nbsp;Reviewed the potential pro forma impact of the Mergers;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (9)&nbsp;Reviewed an April&nbsp;17, 2005 draft of the Agreement;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (10)&nbsp;Reviewed an April&nbsp;17, 2005 draft of the Kim Group
    Voting Agreement;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (11)&nbsp;Reviewed an April&nbsp;16, 2005 draft of the Riggio
    Group Voting Agreement;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (12)&nbsp;Reviewed an April&nbsp;17, 2005 form of the
    Registration Rights Agreement;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (13)&nbsp;Reviewed an April&nbsp;16, 2005 form of the
    Non-Competition Agreement;&nbsp;and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (14)&nbsp;Reviewed such other financial studies and analyses and
    took into account such other matters as we deemed necessary,
    including our assessment of general economic, market and
    monetary conditions.</TD>
</TR>

</TABLE>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In preparing our opinion, we have assumed and relied on the
accuracy and completeness of all information supplied or
otherwise made available to us, discussed with or reviewed by or
for us, or publicly available, and we have not assumed any
responsibility for independently verifying such information or
undertaken an independent evaluation or appraisal of any of the
assets or liabilities of the Company or the Acquiror or been
furnished with any such evaluation or appraisal, nor have we
evaluated the solvency or fair value of the Company or the
Acquiror under any state or federal laws relating to bankruptcy,
insolvency or similar matters. In addition, we have not assumed
any obligation to conduct any physical inspection of the
properties or facilities of the Company or the Acquiror. With
respect to the financial forecast information and the Expected
Synergies furnished to or discussed with us by the Company or
the Acquiror, we have assumed that they have been reasonably
prepared and reflect the best currently available estimates and
judgment of the Company&#146;s or the Acquiror&#146;s management
as to the expected future financial performance of the Company
or the Acquiror, as the case may be, and the Expected Synergies.
We have further assumed that the exchange of Acquiror
Class&nbsp;A Common Stock, Acquiror Class&nbsp;B Common Stock
and Company Common Stock for Holdco Class&nbsp;A Common Stock
and Holdco Class&nbsp;B Common Stock, as applicable, pursuant to
the Mergers, taken together, shall qualify as a transaction
described in Section&nbsp;351 of the Internal Revenue Code of
1986, as amended. We have also assumed that the final forms of
the Agreement, the Kim Group Voting Agreement, the Riggio Group
Voting Agreement, the Registration Rights Agreement and the
Non-Competition Agreement will be substantially similar to the
last drafts reviewed by us.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Our opinion is necessarily based upon market, economic and other
conditions as they exist and can be evaluated on, and on the
information made available to us as of, the date hereof. We have
assumed that in the course of obtaining the necessary regulatory
or other consents or approvals (contractual or otherwise) for
the Mergers, no restrictions, including any divestiture
requirements or amendments or modifications, will be imposed
that will have a material adverse effect on the contemplated
benefits of the Mergers.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In connection with the preparation of this opinion, we have not
been authorized by the Company or the Board of Directors to
solicit, nor have we solicited, third-party indications of
interest for the acquisition of all or any part of the Company.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
We are acting as financial advisor to the Company in connection
with the Mergers and will receive a fee from the Company for our
services, a significant portion of which is contingent upon the
consummation of the Mergers. In addition, the Company has agreed
to indemnify us for certain liabilities arising out of our
engagement. We and certain of our affiliates, with your consent,
are acting as initial lender and joint book-running lead
arranger for a senior credit facility, and are engaged as joint
book-running managing underwriter, placement agent, or initial
purchaser, in each case along with certain other financial
institutions, to provide financing to the Acquiror in connection
with the proposed Mergers. We and our affiliates will receive
underwriting, commitment and other fees in connection with such
financing. In addition, we have, in the past, provided financial
advisory and financing services to the Company and the Acquiror
and/or their affiliates and may continue to do so and have
received, and may receive, fees for the rendering of such
services. In addition, in the ordinary course of our business,
we may actively trade the Company Common Stock and other
securities of the Company, as well as the Acquiror Common Stock
and other securities of the Acquiror, for our own account and
for the accounts of customers and, accordingly, may at any time
hold a long or short position in such securities.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
This opinion is for the use and benefit of the Board of
Directors of the Company. Our opinion does not address the
merits of the underlying decision by the Company to engage in
the Mergers and does not constitute a recommendation to any
shareholder as to how such shareholder should vote on the
proposed Mergers or any matter related thereto. In addition, you
have not asked us to address, and this opinion does not address,
the fairness to, or any other consideration of, the holders of
any class of securities, creditors or other constituencies of
the Company, other than the holders of Company Common Stock
(except for the Acquiror, its affiliates and the Kim Group).
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
We are not expressing any opinion herein as to the prices at
which the Company Common Stock or the Acquiror Common Stock will
trade following the announcement of the Merger or how the Holdco
Common Stock will trade following the consummation of the Merger.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
On the basis of and subject to the foregoing, we are of the
opinion that, as of the date hereof, the Company Merger
Consideration to be received pursuant to the Company Merger is
fair from a financial point of view to the holders of the
Company Common Stock, other than the Acquiror, its affiliates
and the Kim Group.
</DIV>

<DIV style="margin-top: 24pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

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    <TD width="36%"></TD>
    <TD width="64%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Very truly yours,</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

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    <TD width="53%"></TD>
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    <TD>&nbsp;</TD>
    <TD>/s/ Merrill Lync</TD>
    <TD align="left">
    h, Pierce, Fenner &#38; Smith</TD>
</TR>

</TABLE>

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<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Incorporated</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

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    <TD width="51%"></TD>
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    <TD>&nbsp;</TD>
    <TD>MERRILL LYNC</TD>
    <TD align="left">
    H, PIERCE, FENNER&nbsp;&#38; SMITH</TD>
</TR>

</TABLE>

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    <TD>&nbsp;</TD>
    <TD align="left">
    INCORPORATED</TD>
</TR>

</TABLE>

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<DIV align="left" style="font-size: 10pt;">
<A name='267'></A>
</DIV>

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<DIV align="right" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>ANNEX I</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<IMG src="y09199ey0919900.gif" alt="LETTER HEAD OF PETER J SOLOMON COMPANY">
</DIV>

<DIV align="right" style="font-size: 10pt; margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
April&nbsp;17, 2005
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
Board of Directors
</DIV>

<DIV align="left" style="font-size: 10pt;">
Electronics Boutique Holdings Corp.
</DIV>

<DIV align="left" style="font-size: 10pt;">
931 South Matlack Street
</DIV>

<DIV align="left" style="font-size: 10pt;">
West Chester, Pennsylvania 19382
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
Ladies and Gentlemen:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
You have asked us to advise you with respect to the fairness
from a financial point of view of the consideration proposed to
be received by the holders of common stock, par value
$0.01&nbsp;per share (&#147;Company Common Stock&#148;), of
Electronics Boutique Holdings Corp. (the &#147;Company&#148;),
other than the Kim Group (as such term is defined in the
Agreement and Plan of Merger, to be dated on or about
April&nbsp;17, 2005 (the &#147;Merger Agreement&#148;), by and
among GameStop Corp. (&#147;GameStop&#148;), GSC Holdings Corp.,
a wholly-owned subsidiary of GameStop (&#147;Holdco&#148;),
Cowboy Subsidiary LLC, a wholly-owned subsidiary of Holdco
(&#147;GameStop Merger Sub&#148;), Eagle Subsidiary LLC, a
wholly-owned subsidiary of Holdco (&#147;Company Merger
Sub&#148;), and the Company), pursuant to the Merger Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
We understand that the Merger Agreement provides for the merger
of Company Merger Sub with and into the Company, with the
Company continuing as the surviving corporation in the merger as
a wholly-owned subsidiary of Holdco (the &#147;Company
Merger&#148;), and for the merger of GameStop Merger Sub with
and into GameStop, with GameStop continuing as the surviving
corporation in the merger as a wholly-owned subsidiary of Holdco
(the &#147;GameStop Merger&#148; and together with the Company
Merger, the &#147;Mergers&#148;). Upon the effectiveness of the
Company Merger, each issued and outstanding share of Company
Common Stock will be converted into the right to receive
0.78795&nbsp;shares of Class&nbsp;A common stock, par value
$0.001&nbsp;per share, of Holdco (&#147;Holdco Class&nbsp;A
Common Stock&#148;) plus $38.15 in cash. Upon the effectiveness
of the GameStop Merger, each issued and outstanding share of
Class&nbsp;A common stock, par value $0.001&nbsp;per share, of
GameStop (&#147;GameStop Class&nbsp;A Common Stock&#148;) will
be converted into the right to receive one share of Holdco
Class&nbsp;A Common Stock and each issued and outstanding share
of Class&nbsp;B common stock, par value $0.001&nbsp;per share,
of GameStop (&#147;GameStop Class&nbsp;B Common Stock&#148; and
together with the GameStop Class&nbsp;A Common Stock,
&#147;GameStop Common Stock&#148;) will be converted into the
right to receive one share of Class&nbsp;B common stock, par
value $0.001&nbsp;per share, of Holdco (&#147;Holdco
Class&nbsp;B Common Stock&#148; and together with the Holdco
Class&nbsp;A Common Stock, &#147;Holdco Common Stock&#148;). The
Mergers will become effective at the same time. We also
understand that the Merger Agreement contemplates that, in
connection with the execution and delivery of the Merger
Agreement, (i)&nbsp;GameStop, the Company and certain
stockholders of the Company will enter into a letter agreement,
to be dated on or about the date of the Merger Agreement (the
&#147;Company Stockholder Voting Agreement&#148;), pursuant to
which such stockholders will agree, among other things, to vote
their shares of Company Common Stock in favor of the Company
Merger, and (ii)&nbsp;GameStop, the Company and certain
stockholders of GameStop will enter into a letter agreement, to
be dated on or about the date of the Merger Agreement (the
&#147;GameStop Stockholder Voting Agreement&#148; and together
with the Company Stockholder Voting Agreement, the &#147;Voting
Agreements&#148;), pursuant to which such stockholders will
</DIV>

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<DIV align="left" style="font-size: 10pt;">
agree, among other things, to vote their shares of GameStop
Common Stock in favor of the GameStop Merger,. We refer to the
Mergers and the transactions contemplated by the Voting
Agreements as the &#147;Transactions.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
For purposes of the opinion set forth herein, we have:
</DIV>

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    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (i)&nbsp;reviewed certain publicly available financial
    statements and other information of the Company and GameStop;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (ii)&nbsp;reviewed certain internal financial statements and
    other financial and operating data concerning the Company and
    GameStop prepared by the management of the Company and GameStop,
    respectively;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (iii)&nbsp;reviewed certain financial projections for the
    Company and GameStop, including estimates of certain potential
    benefits of the proposed business combination, prepared by the
    management of the Company and GameStop, respectively;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (iv)&nbsp;discussed the past and current operations, financial
    condition and prospects of the Company and GameStop with the
    management of the Company and GameStop, respectively;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (v)&nbsp;reviewed the reported prices and trading activity of
    Company Common Stock and GameStop Common Stock;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (vi)&nbsp;compared the financial performance and condition of
    the Company and GameStop and the reported prices and trading
    activity of Company Common Stock and GameStop Common Stock with
    that of certain other comparable publicly traded companies;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (vii)&nbsp;reviewed publicly available information regarding the
    financial terms of certain transactions comparable, in whole or
    in part, to the Transactions;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (viii)&nbsp;participated in certain discussions among
    representatives of each of the Company and GameStop;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (ix)&nbsp;reviewed the draft Merger Agreement dated as of
    April&nbsp;16, 2005, the draft Company Stockholder Voting
    Agreement dated as of April&nbsp;17, 2005 and the draft GameStop
    Stockholder Voting Agreement dated as of April&nbsp;17,
    2005;&nbsp;and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (x)&nbsp;performed such other analyses as we have deemed
    appropriate.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
We have assumed and relied upon the accuracy and completeness of
the information reviewed by us for the purposes of this opinion
and we have not assumed any responsibility for independent
verification of such information. With respect to the financial
projections, including the estimates made by the Company&#146;s
management and GameStop&#146;s management of certain potential
benefits of the proposed business combination, we have assumed
that the financial projections were reasonably prepared on bases
reflecting the best currently available estimates and judgments
of the future financial performance of the Company and GameStop,
respectively. We have not conducted a physical inspection of the
facilities or property of the Company or GameStop. We have not
assumed any responsibility for any independent valuation or
appraisal of the assets or liabilities of the Company or
GameStop, nor have we been furnished with any such valuation or
appraisal. Furthermore, we have not considered any tax effects
of the Mergers or the transaction structure on any person or
entity.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
We have assumed that the final form of each Agreement will be
substantially the same as the last draft of such Agreement
reviewed by us. We have also assumed that the Mergers will be
consummated in accordance with the terms of the Merger
Agreement, without waiver, modification or amendment of any
material term, condition or agreement and that, in the course of
obtaining the necessary regulatory or third party approvals,
consents and releases for the Mergers, no delay, limitation,
restriction or condition will be imposed that would have a
material adverse effect on the Company or GameStop or the
contemplated benefits of the Mergers. We have further assumed
that all representations and warranties set forth in the
Agreements are and will be true and correct as of the date or
the dates made or deemed made and that all
</DIV>

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<DIV align="left" style="font-size: 10pt;">
parties to the Agreements will comply with all covenants of such
party thereunder. We have also assumed that Holdco Class&nbsp;A
Common Stock and Holdco Class&nbsp;B Common Stock have identical
powers, preferences and rights, except that holders of Holdco
Class&nbsp;A Common Stock will have one vote per share and
holders of Holdco Class&nbsp;B Common Stock will have ten votes
per share, in each case on matters for which the stockholders of
Holdco are entitled to vote.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Our opinion is necessarily based on economic, market and other
conditions as in effect on, and the information made available
to us as of, April&nbsp;15, 2005. In particular, we do not
express any opinion as to the prices at which shares of Company
Common Stock, GameStop Common Stock or Holdco Common Stock may
trade at any future time. Furthermore, our opinion does not
address the Company&#146;s underlying business decision to
undertake any part of the Transactions.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In arriving at our opinion, we were not authorized to solicit,
and did not solicit, interest from any party with respect to a
merger or other business combination transaction involving the
Company or any of its assets.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The financial advisory services we have provided to the Company
in connection with the Transactions were limited to the delivery
of this opinion. We will receive a fee upon the delivery of this
opinion. During the past two years, we have provided certain
financial advisory services to Barnes&nbsp;&#38; Noble, Inc.
and/or its affiliates in connection with the sale of shares of
GameStop Common Stock in a private sale and the spin-off of
shares of GameStop Common Stock to its stockholders, for which
services we received a customary fee.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
This letter is solely for the information of the board of
directors of the Company and is not on behalf of and is not
intended to confer rights or remedies upon any other entity or
person, and may not be used for any other purpose without our
prior written consent. This letter does not constitute a
recommendation to any holder of Company Common Stock or any
other person as to how any such holder or person should vote or
act on any matter relating to any part of the Transactions.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Based on, and subject to, the foregoing, we are of the opinion
that on the date hereof, the consideration proposed to be
received by the holders of Company Common Stock in connection
with the Company Merger is fair from a financial point of view
to the holders of Company Common Stock (other than the Kim
Group).
</DIV>

<DIV style="margin-top: 24pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

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    <TD width="40%"></TD>
    <TD width="60%"></TD>
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<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    Very truly yours,</TD>
</TR>

<TR>
    <TD style="font-size: 18pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <FONT style="font-variant:SMALL-CAPS">/s/&nbsp;Peter J. Solomon
    Company, l.p.
    </FONT></TD>
</TR>

<TR>
    <TD style="font-size: 18pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    PETER J. SOLOMON COMPANY, L.P.</TD>
</TR>

</TABLE>

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<DIV align="left" style="font-size: 10pt;">
<A name='268'></A>
</DIV>

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<B>ANNEX J</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>GENERAL CORPORATION LAW OF DELAWARE</B>
</DIV>

<DIV align="center" style="font-size: 10pt;">
<B>SECTION&nbsp;262&nbsp;&#151; APPRAISAL RIGHTS</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(a)&nbsp;Any stockholder of a corporation of this State who
holds shares of stock on the date of the making of a demand
pursuant to subsection&nbsp;(d)&nbsp;of this section with
respect to such shares, who continuously holds such shares
through the effective date of the merger or consolidation, who
has otherwise complied with subsection&nbsp;(d)&nbsp;of this
section and who has neither voted in favor of the merger or
consolidation nor consented thereto in writing pursuant to
&#167;&nbsp;228 of this title shall be entitled to an appraisal
by the Court of Chancery of the fair value of the
stockholder&#146;s shares of stock under the circumstances
described in subsections (b)&nbsp;and (c)&nbsp;of this section.
As used in this section, the word &#147;stockholder&#148; means
a holder of record of stock in a stock corporation and also a
member of record of a nonstock corporation; the words
&#147;stock&#148; and &#147;share&#148; mean and include what is
ordinarily meant by those words and also membership or
membership interest of a member of a nonstock corporation; and
the words &#147;depository receipt&#148; mean a receipt or other
instrument issued by a depository representing an interest in
one or more shares, or fractions thereof, solely of stock of a
corporation, which stock is deposited with the depository.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)&nbsp;Appraisal rights shall be available for the shares of
any class or series of stock of a constituent corporation in a
merger or consolidation to be effected pursuant to
&#167;&nbsp;251 (other than a merger effected pursuant to
&#167;&nbsp;251(g) of this title), &#167;&nbsp;252,
&#167;&nbsp;254, &#167;&nbsp;257, &#167;&nbsp;258,
&#167;&nbsp;263 or &#167;&nbsp;264 of this title:
</DIV>

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    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (1)&nbsp;Provided, however, that no appraisal rights under this
    section shall be available for the shares of any class or series
    of stock, which stock, or depository receipts in respect
    thereof, at the record date fixed to determine the stockholders
    entitled to receive notice of and to vote at the meeting of
    stockholders to act upon the agreement of merger or
    consolidation, were either (i)&nbsp;listed on a national
    securities exchange or designated as a national market system
    security on an interdealer quotation system by the National
    Association of Securities Dealers, Inc. or (ii)&nbsp;held of
    record by more than 2,000 holders; and further provided that no
    appraisal rights shall be available for any shares of stock of
    the constituent corporation surviving a merger if the merger did
    not require for its approval the vote of the stockholders of the
    surviving corporation as provided in subsection&nbsp;(f)&nbsp;of
    &#167;&nbsp;251 of this title.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (2)&nbsp;Notwithstanding paragraph&nbsp;(1)&nbsp;of this
    subsection, appraisal rights under this section shall be
    available for the shares of any class or series of stock of a
    constituent corporation if the holders thereof are required by
    the terms of an agreement of merger or consolidation pursuant to
    &#167;&#167;&nbsp;251, 252, 254, 257, 258, 263 and 264 of this
    title to accept for such stock anything except:</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="6%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    a.&nbsp;Shares of stock of the corporation surviving or
    resulting from such merger or consolidation, or depository
    receipts in respect thereof;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    b.&nbsp;Shares of stock of any other corporation, or depository
    receipts in respect thereof, which shares of stock (or
    depository receipts in respect thereof) or depository receipts
    at the effective date of the merger or consolidation will be
    either listed on a national securities exchange or designated as
    a national market system security on an interdealer quotation
    system by the National Association of Securities Dealers, Inc.
    or held of record by more than 2,000 holders;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    c.&nbsp;Cash in lieu of fractional shares or fractional
    depository receipts described in the foregoing subparagraphs a.
    and b. of this paragraph;&nbsp;or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    d.&nbsp;Any combination of the shares of stock, depository
    receipts and cash in lieu of fractional shares or fractional
    depository receipts described in the foregoing subparagraphs a.,
    b. and c. of this paragraph.</TD>
</TR>

</TABLE>

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    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (3)&nbsp;In the event all of the stock of a subsidiary Delaware
    corporation party to a merger effected under &#167;&nbsp;253 of
    this title is not owned by the parent corporation immediately
    prior to the merger, appraisal rights shall be available for the
    shares of the subsidiary Delaware corporation.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(c)&nbsp;Any corporation may provide in its certificate of
incorporation that appraisal rights under this section shall be
available for the shares of any class or series of its stock as
a result of an amendment to its certificate of incorporation,
any merger or consolidation in which the corporation is a
constituent corporation or the sale of all or substantially all
of the assets of the corporation. If the certificate of
incorporation contains such a provision, the procedures of this
section, including those set forth in subsections (d)&nbsp;and
(e)&nbsp;of this section, shall apply as nearly as is
practicable.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(d)&nbsp;Appraisal rights shall be perfected as follows:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

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    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (1)&nbsp;If a proposed merger or consolidation for which
    appraisal rights are provided under this section is to be
    submitted for approval at a meeting of stockholders, the
    corporation, not less than 20&nbsp;days prior to the meeting,
    shall notify each of its stockholders who was such on the record
    date for such meeting with respect to shares for which appraisal
    rights are available pursuant to subsection&nbsp;(b)&nbsp;or
    (c)&nbsp;hereof that appraisal rights are available for any or
    all of the shares of the constituent corporations, and shall
    include in such notice a copy of this section. Each stockholder
    electing to demand the appraisal of such stockholder&#146;s
    shares shall deliver to the corporation, before the taking of
    the vote on the merger or consolidation, a written demand for
    appraisal of such stockholder&#146;s shares. Such demand will be
    sufficient if it reasonably informs the corporation of the
    identity of the stockholder and that the stockholder intends
    thereby to demand the appraisal of such stockholder&#146;s
    shares. A proxy or vote against the merger or consolidation
    shall not constitute such a demand. A stockholder electing to
    take such action must do so by a separate written demand as
    herein provided. Within 10&nbsp;days after the effective date of
    such merger or consolidation, the surviving or resulting
    corporation shall notify each stockholder of each constituent
    corporation who has complied with this subsection and has not
    voted in favor of or consented to the merger or consolidation of
    the date that the merger or consolidation has become
    effective;&nbsp;or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (2)&nbsp;If the merger or consolidation was approved pursuant to
    &#167;&nbsp;228 or &#167;&nbsp;253 of this title, then either a
    constituent corporation before the effective date of the merger
    or consolidation or the surviving or resulting corporation
    within 10&nbsp;days thereafter shall notify each of the holders
    of any class or series of stock of such constituent corporation
    who are entitled to appraisal rights of the approval of the
    merger or consolidation and that appraisal rights are available
    for any or all shares of such class or series of stock of such
    constituent corporation, and shall include in such notice a copy
    of this section. Such notice may, and, if given on or after the
    effective date of the merger or consolidation, shall, also
    notify such stockholders of the effective date of the merger or
    consolidation. Any stockholder entitled to appraisal rights may,
    within 20&nbsp;days after the date of mailing of such notice,
    demand in writing from the surviving or resulting corporation
    the appraisal of such holder&#146;s shares. Such demand will be
    sufficient if it reasonably informs the corporation of the
    identity of the stockholder and that the stockholder intends
    thereby to demand the appraisal of such holder&#146;s shares. If
    such notice did not notify stockholders of the effective date of
    the merger or consolidation, either (i)&nbsp;each such
    constituent corporation shall send a second notice before the
    effective date of the merger or consolidation notifying each of
    the holders of any class or series of stock of such constituent
    corporation that are entitled to appraisal rights of the
    effective date of the merger or consolidation or (ii)&nbsp;the
    surviving or resulting corporation shall send such a second
    notice to all such holders on or within 10&nbsp;days after such
    effective date; provided, however, that if such second notice is
    sent more than 20&nbsp;days following the sending of the first
    notice, such second notice need only be sent to each stockholder
    who is entitled to appraisal rights and who has demanded
    appraisal of such holder&#146;s shares in accordance with this
    subsection. An affidavit of the secretary or assistant secretary
    or of the transfer agent of the corporation that is required to
    give either notice that such notice has been given shall, in the
    absence of fraud, be prima facie evidence of the facts stated
    therein. For purposes of determining the stockholders entitled
    to receive either notice, each constituent corporation may fix,
    in advance, a record date that shall be not more than
    10&nbsp;days prior to the date the notice is given,</TD>
</TR>

</TABLE>

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    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

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    <TD>&nbsp;</TD>
    <TD align="left">
    provided, that if the notice is given on or after the effective
    date of the merger or consolidation, the record date shall be
    such effective date. If no record date is fixed and the notice
    is given prior to the effective date, the record date shall be
    the close of business on the day next preceding the day on which
    the notice is given.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(e)&nbsp;Within 120&nbsp;days after the effective date of the
merger or consolidation, the surviving or resulting corporation
or any stockholder who has complied with subsections
(a)&nbsp;and (d)&nbsp;hereof and who is otherwise entitled to
appraisal rights, may file a petition in the Court of Chancery
demanding a determination of the value of the stock of all such
stockholders. Notwithstanding the foregoing, at any time within
60&nbsp;days after the effective date of the merger or
consolidation, any stockholder shall have the right to withdraw
such stockholder&#146;s demand for appraisal and to accept the
terms offered upon the merger or consolidation. Within
120&nbsp;days after the effective date of the merger or
consolidation, any stockholder who has complied with the
requirements of subsections (a)&nbsp;and (d)&nbsp;hereof, upon
written request, shall be entitled to receive from the
corporation surviving the merger or resulting from the
consolidation a statement setting forth the aggregate number of
shares not voted in favor of the merger or consolidation and
with respect to which demands for appraisal have been received
and the aggregate number of holders of such shares. Such written
statement shall be mailed to the stockholder within 10&nbsp;days
after such stockholder&#146;s written request for such a
statement is received by the surviving or resulting corporation
or within 10&nbsp;days after expiration of the period for
delivery of demands for appraisal under
subsection&nbsp;(d)&nbsp;hereof, whichever is later.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(f)&nbsp;Upon the filing of any such petition by a stockholder,
service of a copy thereof shall be made upon the surviving or
resulting corporation, which shall within 20&nbsp;days after
such service file in the office of the Register in Chancery in
which the petition was filed a duly verified list containing the
names and addresses of all stockholders who have demanded
payment for their shares and with whom agreements as to the
value of their shares have not been reached by the surviving or
resulting corporation. If the petition shall be filed by the
surviving or resulting corporation, the petition shall be
accompanied by such a duly verified list. The Register in
Chancery, if so ordered by the Court, shall give notice of the
time and place fixed for the hearing of such petition by
registered or certified mail to the surviving or resulting
corporation and to the stockholders shown on the list at the
addresses therein stated. Such notice shall also be given by 1
or more publications at least 1&nbsp;week before the day of the
hearing, in a newspaper of general circulation published in the
City of Wilmington, Delaware or such publication as the Court
deems advisable. The forms of the notices by mail and by
publication shall be approved by the Court, and the costs
thereof shall be borne by the surviving or resulting corporation.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(g)&nbsp;At the hearing on such petition, the Court shall
determine the stockholders who have complied with this section
and who have become entitled to appraisal rights. The Court may
require the stockholders who have demanded an appraisal for
their shares and who hold stock represented by certificates to
submit their certificates of stock to the Register in Chancery
for notation thereon of the pendency of the appraisal
proceedings; and if any stockholder fails to comply with such
direction, the Court may dismiss the proceedings as to such
stockholder.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(h)&nbsp;After determining the stockholders entitled to an
appraisal, the Court shall appraise the shares, determining
their fair value exclusive of any element of value arising from
the accomplishment or expectation of the merger or
consolidation, together with a fair rate of interest, if any, to
be paid upon the amount determined to be the fair value. In
determining such fair value, the Court shall take into account
all relevant factors. In determining the fair rate of interest,
the Court may consider all relevant factors, including the rate
of interest which the surviving or resulting corporation would
have had to pay to borrow money during the pendency of the
proceeding. Upon application by the surviving or resulting
corporation or by any stockholder entitled to participate in the
appraisal proceeding, the Court may, in its discretion, permit
discovery or other pretrial proceedings and may proceed to trial
upon the appraisal prior to the final determination of the
stockholder entitled to an appraisal. Any stockholder whose name
appears on the list filed by the surviving or resulting
corporation pursuant to subsection&nbsp;(f)&nbsp;of this section
and who has submitted such stockholder&#146;s certificates of
stock to the Register in Chancery, if such is required, may
</DIV>

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<DIV align="left" style="font-size: 10pt;">
participate fully in all proceedings until it is finally
determined that such stockholder is not entitled to appraisal
rights under this section.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(i)&nbsp;The Court shall direct the payment of the fair value of
the shares, together with interest, if any, by the surviving or
resulting corporation to the stockholders entitled thereto.
Interest may be simple or compound, as the Court may direct.
Payment shall be so made to each such stockholder, in the case
of holders of uncertificated stock forthwith, and the case of
holders of shares represented by certificates upon the surrender
to the corporation of the certificates representing such stock.
The Court&#146;s decree may be enforced as other decrees in the
Court of Chancery may be enforced, whether such surviving or
resulting corporation be a corporation of this State or of any
state.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(j)&nbsp;The costs of the proceeding may be determined by the
Court and taxed upon the parties as the Court deems equitable in
the circumstances. Upon application of a stockholder, the Court
may order all or a portion of the expenses incurred by any
stockholder in connection with the appraisal proceeding,
including, without limitation, reasonable attorney&#146;s fees
and the fees and expenses of experts, to be charged pro rata
against the value of all the shares entitled to an appraisal.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(k)&nbsp;From and after the effective date of the merger or
consolidation, no stockholder who has demanded appraisal rights
as provided in subsection&nbsp;(d)&nbsp;of this section shall be
entitled to vote such stock for any purpose or to receive
payment of dividends or other distributions on the stock (except
dividends or other distributions payable to stockholders of
record at a date which is prior to the effective date of the
merger or consolidation); provided, however, that if no petition
for an appraisal shall be filed within the time provided in
subsection&nbsp;(e)&nbsp;of this section, or if such stockholder
shall deliver to the surviving or resulting corporation a
written withdrawal of such stockholder&#146;s demand for an
appraisal and an acceptance of the merger or consolidation,
either within 60&nbsp;days after the effective date of the
merger or consolidation as provided in
subsection&nbsp;(e)&nbsp;of this section or thereafter with the
written approval of the corporation, then the right of such
stockholder to an appraisal shall cease. Notwithstanding the
foregoing, no appraisal proceeding in the Court of Chancery
shall be dismissed as to any stockholder without the approval of
the Court, and such approval may be conditioned upon such terms
as the Court deems just.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(l)&nbsp;The shares of the surviving or resulting corporation to
which the shares of such objecting stockholders would have been
converted had they assented to the merger or consolidation shall
have the status of authorized and unissued shares of the
surviving or resulting corporation.
</DIV>

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<DIV align="left" style="font-size: 10pt;">
<A name='271'></A>
</DIV>

<!-- link1 "ANNEX K" -->

<DIV align="right" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>ANNEX K</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>GSC HOLDINGS CORP.</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>2005 INCENTIVE PLAN</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>GSC HOLDINGS CORP.</B>, a Delaware corporation (the
&#147;Company&#148;), hereby establishes and adopts the
following 2005 Incentive Plan (the &#147;Plan&#148;).
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>RECITALS</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
WHEREAS, the Company desires to encourage high levels of
performance by those individuals who are key to the success of
the Company or any parent, subsidiary or affiliate of the
Company, to attract new individuals who are highly motivated and
who will contribute to the success of the Company and to
encourage such individuals to remain as officers, employees,
consultants, advisors and/or directors of the Company and its
parent, subsidiaries and affiliates by increasing their
proprietary interest in the Company&#146;s growth and success.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
WHEREAS, to attain these ends, the Company has formulated the
Plan embodied herein to authorize the granting of incentive
awards through grants of options to purchase shares
(&#147;Options&#148;), grants of share appreciation rights,
grants of Restricted Share Awards (hereafter defined), or any
other award made under the Plan to those persons (each such
person a &#147;Participant&#148;) whose judgment, initiative and
efforts are, have been, or are expected to be responsible for
the success of the Company or any parent, subsidiary or
affiliate of the Company.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
NOW, THEREFORE, the Company hereby constitutes, establishes and
adopts the following Plan and agrees to the following provisions:
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
ARTICLE&nbsp;1.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
Purpose of the Plan
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
1.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Purpose.</U></I> The
purpose of the Plan is to assist the Company or any parent,
subsidiary or affiliate of the Company in attracting and
retaining selected individuals to serve as directors, officers,
consultants, advisors, and employees of the Company or any
parent, subsidiary or affiliate of the Company who will
contribute to the Company&#146;s success and to achieve
long-term objectives which will inure to the benefit of all
shareholders of the Company through the additional incentive
inherent in the ownership of the Company&#146;s Class&nbsp;A
Common Stock, par value $0.001&nbsp;per share (the
&#147;Shares&#148;). Options granted under the Plan will be
either &#147;incentive stock options,&#148; intended to qualify
as such under the provisions of section&nbsp;422 of the Internal
Revenue Code of 1986, as from time to time amended (the
&#147;Code&#148;), or &#147;nonqualified stock options.&#148;
For purposes of the Plan, the terms &#147;subsidiary&#148; and
&#147;parent&#148; shall mean &#147;subsidiary corporation&#148;
and &#147;parent corporation,&#148; respectively, as such terms
are defined in sections 424(f) and 424(e) of the Code, and
&#147;affiliate&#148; shall have the meaning set forth in
Rule&nbsp;12b-2 of the Securities Exchange Act of 1934, as
amended (the &#147;Exchange Act&#148;).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
For purposes of the Plan, the term &#147;Award&#148; shall
include a grant of an Option, a grant of a share appreciation
right, a grant of a Restricted Share Award, or any other award
made under the terms of the Plan.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
ARTICLE&nbsp;2.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
Shares Subject to Awards
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
2.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Number of
Shares.</U></I> Subject to the adjustment provisions of
Section&nbsp;7.9 hereof, the aggregate number of Shares which
may be issued under Awards under the Plan, whether pursuant to
Options, Restricted Share Awards or any other Award under the
Plan shall not exceed 5,000,000&nbsp;Shares. No Options to
purchase fractional Shares shall be granted and no fractional
shares shall be issued under the
</DIV>

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<DIV align="left" style="font-size: 10pt;">
Plan. For purposes of this Section&nbsp;2.1, the Shares that
shall be counted toward such limitation shall include all Shares:
</DIV>

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    <TD width="3%"></TD>
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    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (1)&nbsp;issued or issuable pursuant to Options that have been
    or may be exercised;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (2)&nbsp;issued as, or subject to issuance as a Restricted Share
    Award;&nbsp;and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (3)&nbsp;issued or issuable under any other award granted under
    the terms of the Plan.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
2.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Shares Subject to
Terminated Awards.</U></I> The Shares covered by any unexercised
portions of terminated Options granted under Article&nbsp;4,
Shares forfeited as provided in Section&nbsp;6.2, and Shares
subject to any Awards which are otherwise surrendered by the
Participant without receiving any payment or other benefit with
respect thereto may again be subject to new Awards under the
Plan, other than grants of Options intended to qualify as
incentive stock options. Moreover, if the Option price of any
Option granted under the Plan or the tax withholding
requirements with respect to any Award granted under the Plan
are satisfied by tendering Shares to the Company (by either
actual delivery or by attestation), or if a share appreciation
right is exercised, only the number of Shares issued, net of the
Shares tendered, if any, will be deemed delivered for purposes
of determining the maximum number of Shares available for
delivery under the Plan. Shares subject to Options, or portions
thereof, which have been surrendered in connection with the
exercise of share appreciation rights shall not again be
available for the grant of Awards under the Plan.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
2.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Character of
Shares.</U></I> Shares delivered under the Plan may be
authorized and unissued Shares or Shares acquired by the
Company, or both.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
2.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Limitations on Grants to
Individual Participant.</U></I> Subject to adjustments pursuant
to the provisions of Section&nbsp;7.9 hereof, (i)&nbsp;the
maximum number of Shares with respect to which Options or share
appreciation rights may be granted hereunder to any employee
during any fiscal year of the Company shall be
1,000,000&nbsp;Shares (the &#147;Option Limitation&#148;),
(ii)&nbsp;the maximum number of Restricted Share Awards or other
Share-based awards payable in Shares which may be granted to any
employee during any fiscal year of the Company shall be
1,000,000, and (iii)&nbsp;the maximum aggregate amount awarded
or credited with respect to other Share-based awards payable in
cash to any one Participant in any fiscal year may not exceed
$5,000,000. If an Option is canceled, the canceled Option shall
continue to be counted toward the Option Limitation for the year
granted. An Option (or a share appreciation right) that is
repriced during any fiscal year is treated as the cancellation
of the Option (or share appreciation right) and a grant of a new
Option (or share appreciation right) for purposes of the Option
Limitation for that fiscal year.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
ARTICLE&nbsp;3.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
Eligibility and Administration
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
3.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Awards to Employees,
Directors and Others.</U></I> (a)&nbsp;Participants who receive
Options under Article&nbsp;4 (including share appreciation
rights under Article&nbsp;5) (&#147;Optionees&#148;), or
Restricted Share Awards or other Share-based awards under
Article&nbsp;6 shall consist of such key officers, employees,
consultants, advisors and directors of the Company or any
parent, subsidiary or affiliate of the Company as the Committee
(hereinafter defined) shall select from time to time. The
Committee&#146;s designation of an Optionee or Participant in
any year shall not require the Committee to designate such
person to receive Awards or grants in any other year. The
designation of an Optionee or Participant to receive Awards or
grants under one portion of the Plan shall not require the
Committee to include such Optionee or Participant under other
portions of the Plan.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)&nbsp;No Option that is intended to qualify as an
&#147;incentive stock option&#148; may be granted (x)&nbsp;to
any individual that is not an employee of the Company or any
parent or subsidiary thereof, or (y)&nbsp;to any employee who,
at the time of such grant, owns, directly or indirectly (within
the meaning of Sections&nbsp;422(b)(6) and 424(d) of the Code),
shares possessing more than 10% of the total combined voting
power of all classes of shares of the Company or any parent or
subsidiary of the Company, unless at the time of such grant,
(i)&nbsp;the option price is fixed at not less than 110% of the
Fair Market Value (as
</DIV>

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<DIV align="left" style="font-size: 10pt;">
defined below) of the Shares subject to such Option, determined
on the date of the grant, and (ii)&nbsp;the exercise of such
Option is prohibited by its terms after the expiration of five
years from the date such Option is granted.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
3.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Administration.</U></I>
(a)&nbsp;The Plan shall be administered by a committee (the
&#147;Committee&#148;) consisting of not fewer than two
directors of the Company (the directors of the Company being
hereinafter referred to as the &#147;Directors&#148;), as
designated by the Directors. The Directors may remove from, add
members to, or fill vacancies in the Committee. Unless otherwise
determined by the Directors, each member of the Committee is
intended to be (i)&nbsp;a &#147;Non-Employee Director&#148;
within the meaning of Rule&nbsp;16b-3 (or any successor rule) of
the Exchange Act, (ii)&nbsp;an &#147;outside director&#148;
within the meaning of Section&nbsp;162(m)(4)(C)(i) of the Code
and the regulations thereunder, and (iii)&nbsp;an
&#147;independent director&#148; for purposes of the rules and
regulations of the New York Stock Exchange (the
&#147;NYSE&#148;).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Any Award to a member of the Committee shall be on terms
consistent with Awards made to other Directors who are not
members of the Committee and who are not employees, except where
the Award is approved or ratified by the Compensation Committee
(excluding persons who are also members of the Committee) of the
Board of Directors of the Company.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)&nbsp;The Committee is authorized, subject to the provisions
of the Plan, to establish such rules and regulations as it may
deem appropriate for the conduct of meetings and proper
administration of the Plan. All actions of the Committee shall
be taken by majority vote of its members. The Committee is also
authorized, subject to the provisions of the Plan, to make
provisions in various Awards pertaining to a &#147;change of
control&#148; of the Company and to amend or modify existing
Awards.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(c)&nbsp;Subject to the provisions of the Plan, the Committee
shall have authority, in its sole discretion, to interpret the
provisions of the Plan and any Award thereunder and, subject to
the requirements of applicable law, including Rule&nbsp;16b-3 of
the Exchange Act, to prescribe, amend, and rescind rules and
regulations relating to the Plan or any Award thereunder as it
may deem necessary or advisable. All decisions made by the
Committee pursuant to the provisions of the Plan shall be final,
conclusive and binding on all persons, including the Company,
its shareholders, Directors and employees, and Plan participants
and beneficiaries.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
3.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Designation of
Consultants/ Liability</U>.</I> (a)&nbsp;The Committee may
designate employees of the Company and professional advisors to
assist the Committee in the administration of the Plan and may
grant authority to employees to execute agreements or other
documents on behalf of the Committee.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)&nbsp;The Committee may employ such legal counsel,
consultants and agents as it may deem desirable for the
administration of the Plan and may rely upon any opinion
received from any such counsel or consultant and any computation
received from any such consultant or agent. Expenses incurred by
the Committee or the Board in the engagement of any such
counsel, consultant or agent shall be paid by the Company. The
Committee, its members and any person designated pursuant to
Section&nbsp;3.3(a) shall not be liable for any action or
determination made in good faith with respect to this Plan. To
the maximum extent permitted by applicable law, no officer or
former officer of the Company or member or former member of the
Committee or of the Board shall be liable for any action or
determination made in good faith with respect to this Plan or
any Award granted under it. To the maximum extent permitted by
applicable law and to the extent not covered by insurance, each
officer or former officer and member or former member of the
Committee or of the Board shall be indemnified and held harmless
by the Company against any cost or expense (including reasonable
fees of counsel reasonably acceptable to the Company) or
liability (including any sum paid in settlement of a claim with
the approval of the Company), and advanced amounts necessary to
pay the foregoing at the earliest time and to the fullest extent
permitted, arising out of any act or omission to act in
connection with this Plan, except to the extent arising out of
such officer&#146;s or former officer&#146;s, member&#146;s or
former member&#146;s own fraud or bad faith. Such
indemnification shall be in addition to any rights of
indemnification the officers, directors or members or former
officers, directors or members may have under applicable law.
</DIV>

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<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
ARTICLE&nbsp;4.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
Options
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
4.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Grant of
Options</U>.</I> The Committee shall determine, within the
limitations of the Plan, those key officers, employees,
consultants, advisors and Directors of the Company or any
parent, subsidiary or affiliate of the Company to whom Options
are to be granted under the Plan, the number of Shares that may
be purchased under each such Option, the option price and other
terms of each such Option, and shall designate such Options at
the time of the grant as either &#147;incentive stock
options&#148; or &#147;nonqualified stock options&#148;;
provided, however, that Options granted to employees of an
affiliate (that is not also a parent or a subsidiary) or to
non-employees of the Company may only be &#147;nonqualified
stock options.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
All Options granted pursuant to this Article&nbsp;4 shall be
authorized by the Committee and shall be evidenced in writing by
share option agreements (&#147;Share Option Agreements&#148;) in
such form and containing such terms and conditions as the
Committee shall determine that are not inconsistent with the
provisions of the Plan, and, with respect to any Share Option
Agreement granting Options that are intended to qualify as
&#147;incentive stock options,&#148; are not inconsistent with
Section&nbsp;422 of the Code. The granting of an Option pursuant
to the Plan shall impose no obligation on the recipient to
exercise such Option. Any individual who is granted an Option
pursuant to this Article&nbsp;4 may hold more than one Option at
the same time and may hold both &#147;incentive stock
options&#148; and &#147;nonqualified stock options&#148; at the
same time. To the extent that any Option does not qualify as an
&#147;incentive stock option&#148; (whether because of its
provisions, the time or manner of its exercise or otherwise)
such Option or the portion thereof which does not so qualify
shall constitute a separate &#147;nonqualified stock
option.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
4.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Option Price</U>.</I>
Subject to Section&nbsp;3.1(b), the option exercise price per
each Share purchasable under any Option granted under the Plan
shall not be less than 100% of the Fair Market Value (as
hereinafter defined) of such Share on the date of the grant of
such Option.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
4.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Other
Provisions</U>.</I> Options granted pursuant to this
Article&nbsp;4 shall be made in accordance with the terms and
provisions of Article&nbsp;7 hereof and any other applicable
terms and provisions of the Plan.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
ARTICLE&nbsp;5.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
Share Appreciation Rights
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
5.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Grant and
Exercise</U>.</I> Share appreciation rights may be granted in
conjunction with all or part of any Option granted under the
Plan provided such rights are granted at the time of the grant
of such Option. A &#147;share appreciation right&#148; is a
right to receive whole Shares, as provided in this
Article&nbsp;5, in lieu of the purchase of a Share under a
related Option. A share appreciation right or applicable portion
thereof shall terminate and no longer be exercisable upon the
termination or exercise of the related Option, and a share
appreciation right granted with respect to less than the full
number of Shares covered by a related Option shall not be
reduced until, and then only to the extent that, the exercise or
termination of the related Option exceeds the number of Shares
not covered by the share appreciation right. A share
appreciation right may be exercised by the holder thereof (the
&#147;Holder&#148;), in accordance with Section&nbsp;5.2 of this
Article&nbsp;5, by giving written notice thereof to the Company
and surrendering the applicable portion of the related Option.
Upon giving such notice and surrender, the Holder shall be
entitled to receive an amount determined in the manner
prescribed in Section&nbsp;5.2 of this Article&nbsp;5. Options
which have been so surrendered, in whole or in part, shall no
longer be exercisable to the extent the related share
appreciation rights have been exercised. Notwithstanding
anything to the contrary herein, share appreciation rights may
be granted only if Shares are traded on an established
securities market at the date of grant.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
5.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Terms and
Conditions</U>.</I> Share appreciation rights shall be subject
to such terms and conditions, not inconsistent with the
provisions of the Plan, as shall be determined from time to time
by the Committee, including the following:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (a)&nbsp;Share appreciation rights shall be exercisable only at
    such time or times and to the extent that the Options to which
    they relate shall be exercisable in accordance with the
    provisions of the Plan.</TD>
</TR>

</TABLE>

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<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (b)&nbsp;Upon the exercise of a share appreciation right, a
    Holder shall be entitled to receive up to, but no more than, an
    amount in whole Shares equal to the excess of the then Fair
    Market Value of one Share over the option exercise price per
    Share specified in the related Option multiplied by the number
    of Shares in respect of which the share appreciation right shall
    have been exercised. Each share appreciation right may be
    exercised only at the time and so long as a related Option, if
    any, would be exercisable or as otherwise permitted by
    applicable law.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (c)&nbsp;Upon the exercise of a share appreciation right, the
    Option or part thereof to which such share appreciation right is
    related shall be deemed to have been exercised for the purpose
    of the limitation of the number of Shares to be issued under the
    Plan, as set forth in Section&nbsp;2.1 of the Plan.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (d)&nbsp;With respect to share appreciation rights granted in
    connection with an Option that is intended to be an
    &#147;incentive stock option,&#148; the following shall apply:</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="6%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (i)&nbsp;No share appreciation right shall be transferable by a
    Holder otherwise than by will or by the laws of descent and
    distribution, and share appreciation rights shall be
    exercisable, during the Holder&#146;s lifetime, only by the
    Holder.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (ii)&nbsp;Share appreciation rights granted in connection with
    an Option may be exercised only when the Fair Market Value of
    the Shares subject to the Option exceeds the option exercise
    price at which Shares can be acquired pursuant to the Option.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (iii)&nbsp;The share appreciation rights will expire no later
    than the expiration of the underlying incentive stock option.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (iv)&nbsp;The exercise of the share appreciation right may not
    have economic and tax consequences more favorable than the
    exercise of the incentive stock option followed by an immediate
    sale of the underlying Shares, and the value of the payout with
    respect to the share appreciation right may be for no more than
    100% of the excess of the Fair Market Value of the Shares
    subject to the incentive stock option at the time the share
    appreciation right is exercised over the option price of the
    underlying incentive stock option.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (v)&nbsp;The share appreciation right may be exercised only when
    the underlying incentive stock option is eligible to be
    exercised.</TD>
</TR>

</TABLE>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
ARTICLE&nbsp;6.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
Share Awards
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
6.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Restricted Share
Awards.</U></I> (a)&nbsp;A grant of Shares made pursuant to
Sections&nbsp;6.1 and 6.2 is referred to as a &#147;Restricted
Share Award.&#148; The Committee may grant to any Participant an
amount of Shares in such manner, and subject to such terms and
conditions relating to vesting, forfeitability and restrictions
on delivery and transfer (whether based on performance
standards, periods of service or otherwise) as the Committee
shall establish (such Shares, &#147;Restricted Shares&#148;).
The terms of any Restricted Share Award granted under the Plan
shall be set forth in a written agreement (a &#147;Restricted
Share Agreement&#148;) which shall contain provisions determined
by the Committee and not inconsistent with the Plan. The
provisions of Restricted Share Awards need not be the same for
each Participant receiving such Awards.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)&nbsp;<I>Issuance of Restricted Shares.</I> As soon as
practicable after the date of grant of a Restricted Share Award
by the Committee, the Company shall cause to be transferred on
the books of the Company Shares registered in the name of the
Company, as nominee for the Participant, evidencing the
Restricted Shares covered by the Award; provided, however, such
Shares shall be subject to forfeiture to the Company retroactive
to the date of grant if a Restricted Share Agreement delivered
to the Participant by the Company with respect to the Restricted
Shares covered by the Award is not duly executed by the
Participant and timely returned to the Company. All Restricted
Shares covered by Awards under this Article&nbsp;6 shall be
subject to the restrictions, terms and conditions contained in
the Plan and the Restricted Share Agreement entered into by and
between the Company and the Participant. Until the lapse or
release
</DIV>

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<DIV align="left" style="font-size: 10pt;">
of all restrictions applicable to an Award of Restricted Shares,
the share certificates representing such Restricted Shares shall
be held in custody by the Company or its designee.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(c)&nbsp;<I>Shareholder Rights.</I> Beginning on the date of
grant of the Restricted Share Award and subject to execution of
the Restricted Share Agreement as provided in
Sections&nbsp;6.1(a) and (b), unless the Restricted Share
Agreement provides otherwise, the Participant shall become a
shareholder of the Company with respect to all Shares subject to
the Restricted Share Agreement and shall have all of the rights
of a shareholder, including, but not limited to, the right to
vote such Shares and the right to receive distributions made
with respect to such Shares; provided, however, that any Shares
distributed as a dividend or otherwise with respect to any
Restricted Shares as to which the restrictions have not yet
lapsed shall be subject to the same restrictions as such
Restricted Shares and shall be represented by book entry and
held as prescribed in Section&nbsp;6.1(b).
</DIV>

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(d)&nbsp;<I>Restriction on Transferability.</I> None of the
Restricted Shares may be assigned or transferred (other than by
will or the laws of descent and distribution), pledged or sold
prior to lapse or release of the restrictions applicable thereto.
</DIV>

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(e)&nbsp;<I>Delivery of Shares Upon Release of Restrictions.</I>
Upon expiration or earlier termination of the forfeiture period
without a forfeiture and the satisfaction of or release from any
other conditions prescribed by the Committee, the restrictions
applicable to the Restricted Shares shall lapse. As promptly as
administratively feasible thereafter, subject to the
requirements of Section&nbsp;8.1, the Company shall deliver to
the Participant or, in case of the Participant&#146;s death, to
the Participant&#146;s beneficiary, one or more stock
certificates for the appropriate number of Shares, free of all
such restrictions, except for any restrictions that may be
imposed by law. Notwithstanding anything in the Plan or any
Award agreement to the contrary, delivery of Shares pursuant to
a Restricted Share Award shall be made no later than
2<FONT style="font-size: 70%"><SUP>1</SUP></FONT>/<FONT style="font-size: 60%">2</FONT>&nbsp;months
after the close of the Company&#146;s first taxable year in
which such shares are no longer subject to a risk of forfeiture
(within the meaning of Section&nbsp;409A of the Code).
</DIV>

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6.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Terms of Restricted
Shares.</U></I> (a)&nbsp;<I>Forfeiture of Restricted Shares.</I>
Subject to Section&nbsp;6.2(b), all Restricted Shares shall be
forfeited and returned to the Company and all rights of the
Participant with respect to such Restricted Shares shall
terminate unless the Participant continues in the service of the
Company as an employee (or Director, consultant or advisor, as
the case may be) until the expiration of the forfeiture period
for such Restricted Shares and satisfies any and all other
conditions set forth in the Restricted Share Agreement. The
Committee in its sole discretion, shall determine the forfeiture
period (which may, but need not, lapse in installments) and any
other terms and conditions applicable with respect to any
Restricted Share Award and the Committee has the discretion to
modify the terms and conditions of a Restricted Share Award as
long as the rights of the Participant are not impaired.
</DIV>

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(b)&nbsp;<I>Waiver of Forfeiture Period.</I> Notwithstanding
anything contained in this Article&nbsp;6 to the contrary, the
Committee may, in its sole discretion and subject to the
limitations imposed under Section&nbsp;409A of the Code and/or
Section&nbsp;162(m) of the Code and the Treasury Regulations
thereunder in the case of a Restricted Share Award intended to
comply with the performance-based compensation exception under
Section&nbsp;162(m) of the Code, waive the forfeiture period and
any other conditions set forth at grant in any Restricted Share
Agreement under appropriate circumstances (including the death,
disability or retirement of the Participant or a material change
in circumstances arising after the date of an Award) as
determined by the Committee in its sole discretion and subject
to such terms and conditions (including forfeiture of a
proportionate number of the Restricted Shares) as the Committee
shall deem appropriate.
</DIV>

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6.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Other Share-Based
Awards.</U></I> The Committee is authorized to grant other
Share-based awards that are payable in, valued in whole or in
part by reference to, or otherwise based on or related to
Shares, including but not limited to, Shares awarded purely as a
bonus and not subject to any restrictions or conditions, Shares
in payment of the amounts due under an incentive or performance
plan sponsored or maintained by the Company or any parent,
subsidiary or affiliate of the Company, share appreciation
rights (in tandem with Options), stock equivalent units, and
Awards valued by reference to book value of Shares. Subject to
the provisions of the Plan and Section&nbsp;409A of the Code,
the Committee shall have authority to determine the persons to
whom and the time or times at which such Awards shall be made,
</DIV>

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<DIV align="left" style="font-size: 10pt;">
the number of Shares to be awarded pursuant to or referenced by
such Awards, and all other conditions of the Awards. Grants of
other Share-based awards may be subject to such conditions,
restrictions and contingencies as the Committee may determine
which may include, but are not limited to, continuous service
with the Company or any parent, subsidiary or affiliate of the
Company and/or the achievement of performance goals.
</DIV>

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6.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Objective Performance
Goals, Formulae or Standards.</U></I> If the grant of Restricted
Shares or other Share-based awards or the lapse of restrictions
or vesting of Restricted Shares or other Share-based awards is
based on the attainment of performance goals intended to comply
with the exception for &#147;performance-based
compensation&#148; paid to certain &#147;covered employees&#148;
under Section&nbsp;162(m) of the Code and the applicable
regulations thereunder (the &#147;Section&nbsp;162(m)
Exception&#148;), then
</DIV>

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<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (a)&nbsp;the Committee shall establish in writing (x)&nbsp;the
    objective performance-based goals applicable to a given period
    and (y)&nbsp;the individual covered employees or class of
    covered employees to which such performance-based goals apply no
    later than 90&nbsp;days after the commencement of such period
    (but in no event after 25&nbsp;percent of such period has
    elapsed);</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (b)&nbsp;no performance-based compensation shall be payable to
    or vest with respect to, as the case may be, any covered
    employee for a given period until the Committee certifies in
    writing that the objective performance goals (and any other
    material terms) applicable to such period have been
    satisfied;&nbsp;and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (c)&nbsp;after the establishment of a performance goal, the
    Committee shall not revise such performance goal or increase the
    amount of compensation payable thereunder (as determined in
    accordance with Section&nbsp;162(m) of the Code) upon the
    attainment of such performance goal.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    Such performance goals may incorporate provisions for
    disregarding (or adjusting for) changes in accounting methods,
    corporate transactions (including, without limitation,
    dispositions and acquisitions) and other similar type events or
    circumstances. With regard to a Restricted Share Award or other
    Share-based award that is intended to comply with the
    Section&nbsp;162(m) Exception, to the extent any such provision
    would create impermissible discretion under Section&nbsp;162(m)
    of the Code or otherwise violate the Section&nbsp;162(m)
    Exception, such provision shall be of no force or effect. The
    applicable performance goals shall be based on one or more of
    the Performance Criteria set forth in Exhibit&nbsp;A hereto. The
    Committee may provide in any Award based on the attainment of
    performance goals that any evaluation of performance may include
    or exclude any of the following events that occurs during a
    performance period: (a)&nbsp;asset write-downs;
    (b)&nbsp;litigation or claim judgments or settlements;
    (c)&nbsp;the effect of changes in tax laws, accounting
    principles, or other laws or provisions affecting reported
    results; (d)&nbsp;any reorganization and restructuring programs;
    (e)&nbsp;extraordinary nonrecurring items as described in
    Accounting Principles Board Opinion No.&nbsp;30 and/or in
    management&#146;s discussion and analysis of financial condition
    and results of operations appearing in the Company&#146;s annual
    report to shareholders for the applicable year;
    (f)&nbsp;acquisitions or divestitures; and (g)&nbsp;foreign
    exchange gains and losses. To the extent such inclusions or
    exclusions affect Awards to covered employees, they shall be
    prescribed in a form that meets the requirements of Code
    Section&nbsp;162(m) for deductibility. Other performance goals
    may be used to the extent such goals satisfy the
    Section&nbsp;162(m) Exception or the Award is not intended to
    satisfy the requirements of the Section&nbsp;162(m) Exception.</TD>
</TR>

</TABLE>

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6.5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Section&nbsp;83(b)
Election</U>.</I> The Committee may provide in a Restricted
Share Agreement that the Award of Restricted Shares is
conditioned upon the Participant making or refraining from
making an election with respect to the Award under
Section&nbsp;83(b) of the Code. If a Participant makes an
election pursuant to Section&nbsp;83(b) of the Code concerning a
Restricted Share Award, the Participant shall be required to
file promptly a copy of such election with the Company.
</DIV>

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6.6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Payment under Other
Share-Based Awards</U>.</I> Payment under other Share-based
awards shall be made in accordance with the terms of the award,
in cash or Shares as the Committee determines. Notwithstanding
anything in the Plan or any Award agreement to the contrary,
delivery of Shares or cash pursuant to a Share-based award shall
be made no later than
2<FONT style="font-size: 70%"><SUP>1</SUP></FONT>/<FONT style="font-size: 60%">2</FONT>&nbsp;months
after the close of the Company&#146;s
</DIV>

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<DIV align="left" style="font-size: 10pt;">
first taxable year in which delivery of such Shares or cash is
no longer subject to a risk of forfeiture (within the meaning of
Section&nbsp;409A of the Code).
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
ARTICLE&nbsp;7.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
Generally Applicable Provisions
</DIV>

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7.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Option Period</U>.</I>
Subject to Section&nbsp;3.1(b), the period for which an Option
is exercisable shall be set by the Committee and shall not
exceed ten years from the date such Option is granted, provided,
however, in the case of an Option that is not intended to be an
&#147;incentive stock option,&#148; the Committee may prescribe
a period in excess of ten years. After the Option is granted,
the option period may not be reduced, subject to expiration due
to termination of employment.
</DIV>

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7.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Fair Market
Value</U>.</I> If the Shares are listed or admitted to trading
on a securities exchange registered under the Exchange Act,
unless otherwise required by any applicable provision of the
Code, the &#147;Fair Market Value&#148; or &#147;FMV of a Share
as of a specified date shall mean a price that is based on the
opening, closing, actual, high, low, or average selling prices
of a Share reported on the NYSE or other established stock
exchange (or exchanges) on such date, the preceding trading day,
the next succeeding trading day, or an average of trading days,
as determined by the Committee in its discretion. Unless the
Committee determines otherwise, if the Shares are traded over
the counter at the time a determination of its Fair Market Value
is required to be made hereunder, its Fair Market Value shall be
deemed to be equal to the average between the reported high and
low or closing bid and asked prices of a Share on the most
recent date on which Shares were publicly traded. In the event
Shares are not publicly traded at the time a determination of
their Fair Market Value is required to be made hereunder, the
determination of their Fair Market Value shall be made by the
Committee in such manner as it deems appropriate. Such
definition(s) of FMV shall be specified in each Award agreement
and may differ depending on whether FMV is in reference to the
grant, exercise, vesting, settlement, or payout of an Award.
</DIV>

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7.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Exercise of
Options</U>.</I> Vested Options granted under the Plan shall be
exercised by the Optionee thereof (or by his or her executors,
administrators, guardian or legal representative, or by a Family
Member (as defined in Section&nbsp;7.4 below) to whom an Award
may be transferred in accordance with the terms of the Plan or
any other permitted assignee (each such Family Member or
permitted assignee, a &#147;Permitted Assignee&#148;) expressly
allowed by the Plan, as provided in Sections&nbsp;7.4, 7.6 and
7.7 hereof) as to all or part of the Shares covered thereby, by
the giving of written notice of exercise to the Company,
specifying the number of Shares to be purchased, accompanied by
payment of the full purchase price for the Shares being
purchased. Full payment of such purchase price shall be made at
the time of exercise and shall be made (i)&nbsp;in cash or by
certified check or bank check or wire transfer of immediately
available funds, (ii)&nbsp;with the consent of the Committee, by
tendering previously acquired Shares (valued at their Fair
Market Value, as determined by the Committee as of the date of
tender) that have been owned for a period of at least six months
(or such other period to avoid accounting charges against the
Company&#146;s earnings), (iii)&nbsp;if Shares are traded on a
national securities exchange, the NASDAQ or quoted on a national
quotation system sponsored by the National Association of
Securities Dealers, Inc. and the Committee authorizes this
method of exercise, through the delivery of irrevocable
instructions to a broker approved by the Committee to deliver
promptly to the Company an amount equal to the purchase price,
or (iv)&nbsp;with the consent of the Committee, any combination
of (i), (ii)&nbsp;or (iii). In connection with a tender of
previously acquired Shares pursuant to clause&nbsp;(ii) above,
the Committee, in its sole discretion, may permit the Optionee
to constructively exchange Shares already owned by the Optionee
in lieu of actually tendering such Shares to the Company,
provided that adequate documentation concerning the ownership of
the Shares to be constructively tendered is furnished in a form
satisfactory to the Committee. The notice of exercise,
accompanied by such payment, shall be delivered to the Company
at its principal business office or such other office as the
Committee may from time to time direct, and shall be in such
form, containing such further provisions consistent with the
provisions of the Plan, as the Committee may from time to time
prescribe. In no event may any Option granted hereunder be
exercised for a fraction of a Share. The Company shall, subject
to Section&nbsp;8.4 herein, effect the transfer of Shares
purchased pursuant to an Option as soon as practicable, and,
within a reasonable time thereafter, such transfer shall be
</DIV>

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<DIV align="left" style="font-size: 10pt;">
evidenced on the books of the Company. No person exercising an
Option shall have any of the rights of a holder of Shares
subject to an Option until certificates for such Shares shall
have been issued following the exercise of such Option. No
adjustment shall be made for cash dividends or other rights for
which the record date is prior to the date of such issuance.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
7.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Non-Transferability</U>.</I>
Except as otherwise specifically provided herein, no Award shall
be transferable by the Participant otherwise than by will or by
the laws of descent and distribution. All Options shall be
exercisable, during the Participant&#146;s lifetime, only by the
Participant. Any attempt to transfer any Award, except as
specifically provided herein, shall be void, and no such Award
shall in any manner be subject to the debts, contracts,
liabilities, engagements or torts of any person who shall be
entitled to such Award, nor shall it be subject to attachment or
legal process for or against such person. Notwithstanding the
foregoing, the Committee may determine at the time of grant or
thereafter that an Award (other than (x)&nbsp;an Option that is
intended to be an incentive stock option, (y)&nbsp;a share
appreciation right covered by Section&nbsp;5.2(d)(i) and
(z)&nbsp;a Restricted Share Award) that is otherwise not
transferable pursuant to this Section&nbsp;7.4 is transferable
to a Family Member (defined below) in whole or in part and in
such circumstances, and under such conditions as specified by
the Committee. An Award that is transferred to a Family Member
pursuant to the preceding sentence (i)&nbsp;may not be
subsequently transferred otherwise than by will or by the laws
of descent and distribution and (ii)&nbsp;remains subject to the
terms of the Plan and the Award agreement. &#147;Family
Member&#148; means, solely to the extent provided for in
Securities Act Form&nbsp;S-8, any child, stepchild, grandchild,
parent, stepparent, grandparent, spouse, former spouse, sibling,
niece, nephew, mother-in-law, father-in-law, son-in-law,
daughter-in-law, brother-in-law, or sister-in-law, including
adoptive relationships, any person sharing the employee&#146;s
household (other than a tenant or employee), a trust in which
these persons have more than 50% of the beneficial interest, a
foundation in which these persons (or the employee) control the
management of assets, and any other entity in which these
persons (or the employee) own more than 50% of the voting
interests, or as otherwise defined in Securities Act
Form&nbsp;S-8.
</DIV>

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7.5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Termination of
Employment.</U></I> Unless the Committee otherwise determines,
in the event of the termination of employment with the Company
or any parent, subsidiary or affiliate of the Company of an
Optionee who is an employee or the termination or separation
from service with the Company or any parent, subsidiary or
affiliate of the Company of an advisor, consultant or a Director
(who is an Optionee) for any reason (other than death or
disability as provided below), any Option(s) granted to such
Optionee (or its Permitted Assignee) under the Plan and not
previously exercised or expired, to the extent vested on the
date of such termination or separation, shall be exercisable as
of such termination for a period not to exceed three months
after the date of such termination or separation, provided,
however, that in no instance may the term of the Option, as so
extended, exceed the maximum term established pursuant to
Section&nbsp;3.1(b) or 7.1 above.
</DIV>

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7.6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Death.</U></I> In the
event an Optionee dies while employed by the Company or any
parent, subsidiary or affiliate of the Company or while serving
as a Director, advisor or consultant of the Company or any
parent, subsidiary of the Company, as the case may be, any
Option(s) held by such Optionee (or its Permitted Assignee) and
not previously expired or exercised shall, to the extent
exercisable on the date of death, be exercisable by the estate
of such Optionee or by any person who acquired such Option by
bequest or inheritance, or by the Permitted Assignee at any time
within one year after the death of the Optionee, unless earlier
terminated pursuant to its terms, provided, however, that in no
instance may the term of the Option, as so extended, exceed the
maximum term established pursuant to Section&nbsp;3.1(b) or 7.1
above.
</DIV>

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7.7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Disability.</U></I> In
the event of the termination of employment with the Company or
any parent, subsidiary or affiliate of the Company of an
Optionee or separation from service with the Company or any
parent, subsidiary or affiliate of the Company of an Optionee
who is a Director, advisor or consultant of the Company or any
parent, subsidiary or affiliate of the Company due to total
disability, the Optionee, or his guardian or legal
representative, or a Permitted Assignee shall have the
unqualified right to exercise any Option that has not expired or
been previously exercised and that the Optionee was eligible to
exercise as of the first date of total disability (as determined
by the Committee), at any time within one&nbsp;year after
</DIV>

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<DIV align="left" style="font-size: 10pt;">
such termination or separation, unless earlier terminated
pursuant to its terms, provided, however, that in no instance
may the term of the Option, as so extended, exceed the maximum
term established pursuant to Section&nbsp;3.1(b) or 7.1 above.
The term &#147;total disability&#148; shall, for purposes of the
Plan, be defined in the same manner as the term &#147;permanent
and total disability&#148; is defined in Section&nbsp;22(e)(3)
of the Code.
</DIV>

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7.8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Terms of Grant.</U></I>
Notwithstanding anything in Section&nbsp;7.5, 7.6 or 7.7 to the
contrary, the Committee may grant an Option under such terms and
conditions as may be provided in the Share Option Agreement
given to the Optionee and the Committee has the discretion to
modify the terms and conditions of an Option after grant as long
as no rights of the Participant are impaired, <I>provided,
however</I>, that in no instance may the term of the Option, as
so extended, exceed the maximum term established pursuant to
Section&nbsp;3.1(b) or 7.1 above.
</DIV>

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7.9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Adjustments.</U></I> In
the event that the Committee shall determine that any dividend
or other distribution (whether in the form of cash, Shares,
other securities, or other property), recapitalization, stock
split, reverse stock split, reorganization, merger,
consolidation, split-up, spin-off, combination, repurchase, or
exchange of Shares or other securities, the issuance of warrants
or other rights to purchase Shares or other securities, or other
similar corporate transaction or event affects the Shares with
respect to which Awards have been or may be issued under the
Plan, such that an adjustment is determined in good faith by the
Committee to be appropriate in order to prevent dilution or
enlargement of the benefits or potential benefits intended to be
made available under the Plan, then the Committee shall, in such
manner as the Committee may deem equitable, adjust any or all of
(i)&nbsp;the number and type of Shares that thereafter may be
made the subject of Awards, (ii)&nbsp;the number and type of
Shares subject to outstanding Awards, and (iii)&nbsp;the grant
or exercise price with respect to any Option, or, if deemed
appropriate, make provision for a cash payment to the holder of
any outstanding Award; provided, in each case, that with respect
to Options, no such adjustment shall be authorized to the extent
that such adjustment would cause &#147;incentive stock
options&#148; to violate Section&nbsp;422(b) of the Code or
&#147;nonqualified stock options&#148; to become subject to
Section&nbsp;409A of the Code, or any successor provisions; and
provided further, that the number of Shares subject to any Award
denominated in Shares shall always be a whole number. In the
event of any reorganization, merger, consolidation, split-up,
spin-off, or other business combination involving the Company
(each, a &#147;Reorganization&#148;), the Committee may cause
any Award outstanding as of the effective date of the
Reorganization to be canceled in consideration of a cash payment
or an alternate Award (whether from the Company or another
entity that is a party to the Reorganization), or a combination
thereof, made to the holder of such canceled Award substantially
equivalent in value to the fair market value of such canceled
Award and subject to the provisions of Section&nbsp;409A of the
Code. The determination of fair market value shall be made by
the Committee in its sole discretion.
</DIV>

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7.10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Amendment and
Modification of the Plan.</U></I> The Compensation Committee of
the Board of Directors of the Company may, from time to time,
alter, amend, suspend or terminate the Plan as it shall deem
advisable, subject to any requirement for shareholder approval
imposed by applicable law, including without limitation
Sections&nbsp;162(m) and 422 of the Code, or any rule of any
stock exchange or quotation system on which Shares are listed or
quoted; provided that such Compensation Committee may not amend
the Plan, without the approval of the Company&#146;s
shareholders, to increase the number of Shares that may be the
subject of Awards under the Plan (except for adjustments
pursuant to Section&nbsp;7.9 hereof). Except to the extent
necessary to avoid the imposition of additional tax and/or
interest under Section&nbsp;409A of the Code, no amendments to,
or termination of, the Plan shall in any way impair the rights
of an Optionee or a Participant (or a Permitted Assignee
thereof) under any Award previously granted without such
Optionee&#146;s or Participant&#146;s consent. It is intended
that no Award granted under the Plan shall be subject to any
interest or additional tax under Section&nbsp;409A of the Code.
In the event that Section&nbsp;409A is amended after the date
hereof, or guidance is promulgated that would make an Award
under the Plan subject to such interest or additional tax under
Section&nbsp;409A, then the terms and conditions of the Plan
shall be interpreted and applied, and if necessary, amended, to
avoid the imposition of such interest or additional tax.
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
7.11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Validity of
Awards.</U></I> The validity of any Award or grant of Options
made pursuant to the Plan shall remain in full force and effect
and shall not be affected by the compliance or noncompliance
with Section&nbsp;162(m) of the Code or Rule&nbsp;16b-3 of the
Exchange Act.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
7.12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Beneficiary
Designation.</U></I> Each Participant under the Plan may, from
time to time, name any beneficiary or beneficiaries (who may be
named contingently or successively) to whom any benefit under
the Plan is to be paid in case of his death before he receives
any or all of such benefit. Each such designation shall revoke
all prior designations by the same Participant, shall be in a
form prescribed by the Committee, and will be effective only
when filed by the Participant in writing with the Company during
the Participant&#146;s lifetime. In the absence of any such
designation, benefits remaining unpaid at the Participant&#146;s
death shall be paid to the Participant&#146;s estate.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
7.13.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Change in
Control.</U></I> In addition to the terms and conditions of the
Plan, one or more Awards may be subject to the terms and
conditions set forth in a written agreement between the Company
and a Participant providing for different terms or provisions
with respect to such Awards upon a &#147;Change of Control&#148;
of the Company (as that term may be defined in such written
agreement), including but not limited to acceleration of
benefits, lapsing of restrictions, vesting of benefits and such
other terms, conditions or provisions as may be contained in
such written agreement; provided however, that such written
agreement may not increase the maximum amount of such Awards.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
7.14.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Forfeiture
Events.</U></I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(a)&nbsp;The Committee may specify in an Award agreement that
the Participant&#146;s rights, payments and benefits with
respect to an Award shall be subject to reduction, cancellation,
forfeiture or recoupment upon the occurrence of certain
specified events, in addition to any otherwise applicable
vesting or performance conditions of an Award. Such events may
include, but shall not be limited to, termination of employment
for cause, termination of the Participant&#146;s provision of
services to the Company, or an affiliate and/or subsidiary of
the Company, violation of material Company, affiliate and/or
subsidiary policies, breach of noncompetition, confidentiality
or other restrictive covenants that may apply to the
Participant, or other conduct by the Participant that is
detrimental to the business or reputation of the Company, its
affiliates and/or its subsidiaries.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)&nbsp;If the Company is required to prepare an accounting
restatement of a &#147;financial document&#148; (as such term is
defined in the Sarbanes-Oxley Act of 2002) due to the material
noncompliance of the Company, as a result of misconduct, with
any financial reporting requirement under the securities laws,
and (i)&nbsp;if the Participant knowingly or grossly negligently
engaged in the misconduct, or knowingly or grossly negligently
failed to prevent the misconduct, or (ii)&nbsp;if the
Participant is one of the individuals subject to automatic
forfeiture under Section&nbsp;304 of the Sarbanes-Oxley Act of
2002, then the Participant shall reimburse the Company the
amount of any payment in settlement of an Award earned or
accrued during the twelve-month period following the first
public issuance or filing with the United States Securities and
Exchange Commission (whichever first occurred) of the original
financial document embodying such financial reporting
requirement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
7.15.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Employees Based Outside
of the United States.</U></I> Notwithstanding any provision of
the Plan to the contrary, in order to comply with the laws in
other countries in which the Company, its affiliates and/or its
subsidiaries operate or have employees, directors or third-party
service providers, the Committee, in its sole discretion, shall
have the power and authority to:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (a)&nbsp;determine which affiliates and subsidiaries shall be
    covered by the Plan;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (b)&nbsp;determine which employees, directors or third-party
    service providers outside the United States are eligible to
    participate in the Plan;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (c)&nbsp;modify the terms and conditions of any Award granted to
    employees, directors or third-party service providers outside
    the United States to comply with applicable foreign laws;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (d)&nbsp;establish subplans and modify exercise procedures and
    other terms and procedures, to the extent such actions may be
    necessary or advisable. Any subplans and modifications to Plan
    terms and</TD>
</TR>

</TABLE>

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<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    procedures established under this Section&nbsp;7.15 by the
    Committee shall be attached to the Plan document as
    appendices;&nbsp;and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    (e)&nbsp;take any action, before or after an Award is made, that
    it deems advisable to obtain approval or comply with any
    necessary local government regulatory exemptions or approvals.</TD>
</TR>

</TABLE>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
ARTICLE&nbsp;8.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
Miscellaneous
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
8.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Tax Withholding.</U></I>
The Company or any parent, subsidiary or affiliate of the
Company shall have the right to make all payments or
distributions made pursuant to the Plan to an Optionee or
Participant (or a Permitted Assignee thereof) net of any
applicable federal, state and local taxes required to be paid as
a result of the grant of any Award, exercise of an Option or
share appreciation rights or any other event occurring pursuant
to the Plan. The Company or any parent, subsidiary or affiliate
of the Company shall have the right to withhold from wages or
other payments otherwise payable to such Optionee or Participant
(or a Permitted Assignee thereof) such withholding taxes as may
be required by law, or to otherwise require the Optionee or
Participant (or a Permitted Assignee thereof) to pay such
withholding taxes. If the Optionee or Participant (or a
Permitted Assignee thereof) shall fail to make such tax payments
as are required, the Company or any parent, subsidiary or
affiliate of the Company shall, to the extent permitted by law,
have the right to deduct any such taxes from any payment of any
kind otherwise due to such Optionee or Participant or to take
such other action as may be necessary to satisfy such
withholding obligations. In satisfaction of the requirement to
pay required withholding taxes, the Optionee or Participant (or
Permitted Assignee) may make a written election, which may be
accepted or rejected in the discretion of the Committee, to have
withheld a portion of the Shares then issuable to the Optionee
(or Permitted Assignee) pursuant to the Plan, having an
aggregate Fair Market Value equal to the required withholding
taxes.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
8.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Right of Discharge
Reserved.</U></I> Nothing in the Plan nor the grant of an Award
hereunder shall confer upon any employee, Director, consultant,
advisor or other individual the right to continue in the
employment or service of the Company or any parent, subsidiary
or affiliate of the Company or affect any right that the Company
or any parent, subsidiary or affiliate of the Company may have
to terminate the employment or service of (or to demote or to
exclude from future Awards under the Plan) any such employee,
Director, consultant, advisor or other individual at any time
for any reason. Except as specifically provided by the
Committee, the Company shall not be liable for the loss of
existing or potential profit with respect to an Award in the
event of termination of an employment or other relationship even
if the termination is in violation of an obligation of the
Company or any parent, subsidiary or affiliate of the Company to
the Optionee or Participant.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
8.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Unfunded Plan.</U></I>
Unless otherwise determined by the Committee, the Plan shall be
unfunded and shall not create (or be construed to create) a
trust or a separate fund or funds. The Plan shall not establish
any fiduciary relationship between the Company or any parent,
subsidiary or affiliate of the Company and any Optionee,
Participant or other person. To the extent any Optionee or
Participant holds any rights by virtue of any grant or award
made under the Plan, such rights shall constitute general
unsecured liabilities of the Company or any parent, subsidiary
or affiliate of the Company and shall not confer upon any
participant any right, title, or interest in any assets of the
Company or any parent, subsidiary or affiliate of the Company.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
8.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Legend.</U></I> All
certificates for Shares delivered under the Plan shall be
subject to such stock transfer orders and other restrictions as
the Committee may deem advisable under the rules, regulations
and other requirements of the Securities and Exchange
Commission, any stock exchange upon which the Shares are then
listed or any national securities association system upon whose
system the Shares are then quoted, any applicable Federal or
state securities law, and any applicable corporate law, and the
Committee may cause a legend or legends to be put on any such
certificates to make appropriate reference to such restrictions.
Without limiting the foregoing, each certificate representing
Restricted Shares granted
</DIV>

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<DIV align="left" style="font-size: 10pt;">
pursuant to the Plan may bear a legend such as the following or
as otherwise determined by the Committee in its sole discretion:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    &#147;The sale or transfer of shares of stock represented by
    this certificate, whether voluntary, involuntary, or by
    operation of law, is subject to certain restrictions on transfer
    as set forth in the Issuer&#146;s 2005 Incentive Plan, and in
    the associated Restricted Share Agreement. A copy of the Plan
    and such Restricted Share Agreement may be obtained from the
    Issuer.&#148;</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
8.5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Listing and Other
Conditions.</U></I> (a)&nbsp;As long as the Shares are listed on
a national securities exchange or system sponsored by a national
securities association, the issue of any Shares pursuant to an
Award shall be conditioned upon such Shares being listed on such
exchange or system. The Company shall have no obligation to
deliver such Shares unless and until such Shares are so listed;
provided, however, that any delay in the delivery of such Shares
shall be based solely on a reasonable business decision and the
right to exercise any Option with respect to such Shares shall
be suspended until such listing has been effected.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(b)&nbsp;If at any time counsel to the Company shall be of the
opinion that any sale or delivery of Shares pursuant to any
Award is or may in the circumstances be unlawful or result in
the imposition of excise taxes on the Company under the
statutes, rules or regulations of any applicable jurisdiction,
the Company shall have no obligation to make such sale or
delivery, or to make any application or to effect or to maintain
any qualification or registration under the Securities Act of
1933, as amended, or otherwise with respect to Shares or Award,
and the right to any Award shall be suspended until, in the
opinion of said counsel, such sale or delivery shall be lawful
or will not result in the imposition of excise taxes on the
Company.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(c)&nbsp;Upon termination of any period of suspension under this
Section&nbsp;8.5, any Award affected by such suspension which
shall not then have expired or terminated shall be reinstated as
to all shares available before such suspension and as to shares
which would otherwise have become available during the period of
such suspension, but no such suspension shall extend the term of
any Option.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(d)&nbsp;A Participant shall be required to supply the Company
with any certificates, representations and information that the
Company requests and otherwise cooperate with the Company in
obtaining any listing, registration, qualification, exemption,
consent or approval the Company deems necessary or appropriate.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
8.6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Dissolution or
Liquidation.</U></I> In the event of the proposed dissolution or
liquidation of the Company, the Committee shall notify each
Optionee and Participant as soon as practicable prior to the
effective date of such proposed transaction. The Committee in
its sole discretion may permit an Optionee to exercise an Option
until ten days prior to such transaction with respect to all
vested and exercisable Shares covered thereby and with respect
to such number of unvested Shares as the Committee shall
determine. In addition, the Committee may provide that any
forfeiture provision or Company repurchase option applicable to
any Restricted Share Award shall lapse as to such number of
Shares as the Committee shall determine, contingent upon the
occurrence of the proposed dissolution or liquidation at the
time and in the manner contemplated. To the extent an Option has
not been previously exercised, the Option shall terminate
automatically immediately prior to the consummation of the
proposed action. To the extent a forfeiture provision applicable
to a Restricted Share Award has not been waived by the
Committee, the related Restricted Share Award shall be forfeited
automatically immediately prior to the consummation of the
proposed action.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
8.7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Severability.</U></I> If
any provision of the Plan shall be held unlawful or otherwise
invalid or unenforceable in whole or in part, such unlawfulness,
invalidity or unenforceability shall not affect any other
provision of the Plan or part thereof, each of which shall
remain in full force and effect. If the making of any payment or
the provision of any other benefit required under the Plan shall
be held unlawful or otherwise invalid or unenforceable, such
unlawfulness, invalidity or unenforceability shall not prevent
any other payment or benefit from being made or provided under
the Plan, and if the making of any payment in full or the
provision of any other benefit required under the Plan in full
would be unlawful or otherwise invalid or unenforceable, then
such unlawfulness, invalidity or unenforceability shall not
</DIV>

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<DIV align="left" style="font-size: 10pt;">
prevent such payment or benefit from being made or provided in
part, to the extent that it would not be unlawful, invalid or
unenforceable, and the maximum payment or benefit that would not
be unlawful, invalid or unenforceable shall be made or provided
under the Plan.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
8.8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Gender and
Number.</U></I> In order to shorten and to improve the
understandability of the Plan document by eliminating the
repeated usage of such phrases as &#147;his or her&#148;, any
masculine terminology herein shall also include the feminine,
and the definition of any term herein in the singular shall also
include the plural except when otherwise indicated by the
context.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
8.9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Effective Date of Plan;
Termination of Plan.</U></I> The Plan shall be effective on the
date of the approval of the Plan by (i)&nbsp;the holders of a
majority of the shares of common stock of GameStop Corp., a
Delaware corporation, entitled to vote thereon and (ii)&nbsp;the
holders of a majority of the shares of common stock of
Electronics Boutique Holdings Corp., a Delaware corporation
(&#147;Electronics Boutique&#148;), entitled to vote thereon
(all such shareholders being the shareholders of the Company
immediately after the consummation of the mergers contemplated
by the Agreement and Plan of Merger by and among the Company,
Electronics Boutique and others dated as of April&nbsp;17,
2005), provided such approval is obtained within 12&nbsp;months
after the date of adoption of the Plan by the Board of
Directors. Awards may be granted under the Plan at any time and
from time to time after the effective date of the Plan and on or
prior to
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>,
2015, on which date the Plan will expire except as to Awards and
related share appreciation rights then outstanding under the
Plan. Such outstanding Awards and share appreciation rights
shall remain in effect until they have been exercised or
terminated, or have otherwise expired.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
8.10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Nature of
Payments.</U></I> All Awards made pursuant to the Plan are in
consideration of services performed for the Company and any
parent, subsidiary or affiliate of the Company. Any income or
gain realized pursuant to Awards under the Plan and any share
appreciation rights constitutes a special incentive payment to
the Optionee, Participant or Holder and shall not be taken into
account, to the extent permissible under applicable law, as
compensation for purposes of any of the employee benefit plans
of the Company or any parent, subsidiary or affiliate of the
Company, except as may be determined by the Committee or by the
Directors or directors of the applicable parent, subsidiary or
affiliate of the Company.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
8.11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Captions.</U></I> The
captions in the Plan are for convenience of reference only, and
are not intended to narrow, limit or affect the substance or
interpretation of the provisions contained herein.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
8.12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Successors and
Assigns.</U></I> This Plan shall be binding upon and inure to
the benefit of the respective successors and permitted assigns
of the Company and the Participants.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
8.13.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Governing Law.</U></I>
The Plan and all determinations made and actions taken
thereunder, to the extent not otherwise governed by the Code or
the laws of the United States, shall be governed by the laws of
the State of Delaware (without regard to the principles of
conflicts of laws which might otherwise apply) and shall be
construed accordingly.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
8.14.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>No Constraint on
Corporate Action.</U></I> Nothing in the Plan shall be construed
to limit, impair, or otherwise affect the right or power of the
Company or any of its subsidiaries or affiliates to
(i)&nbsp;make adjustments, reclassifications, reorganizations or
changes of its capital or business structure, or merge or
consolidate, or dissolve, liquidate, sell or transfer all or any
part of its business or assets, or (ii)&nbsp;take any other
action which such entity deems to be necessary or appropriate.
</DIV>

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<DIV align="right" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>EXHIBIT A</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>PERFORMANCE CRITERIA</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Subject to the last sentence of Section&nbsp;6.4 of the Plan,
performance goals established for purposes of conditioning the
grant of an Award of Restricted Shares or other Share-based
awards based on performance or the vesting of performance-based
Awards of Restricted Shares under the Section&nbsp;162(m)
Exception shall be based on one or more of the following
performance criteria (&#147;Performance Criteria&#148;):
(i)&nbsp;the attainment of certain target levels of, or a
specified percentage increase in, revenues, income before income
taxes and extraordinary items, net income, earnings before
income tax, earnings before interest, taxes, depreciation and
amortization, or a combination of any or all of the foregoing;
(ii)&nbsp;the attainment of certain target levels of, or a
percentage increase in, after-tax or pre-tax profits including,
without limitation, that attributable to continuing and/or other
operations; (iii)&nbsp;the attainment of certain target levels
of, or a specified increase in, operational cash flow, gross
margins, operating margins, gross sales, net sales, gross
profit, net profit and investment return measures; (iv)&nbsp;the
achievement of a certain level of, reduction of, or other
specified objectives with regard to limiting the level of
increase in, all or a portion of, the Company&#146;s bank debt
or other long-term or short-term public or private debt or other
similar financial obligations of the Company, which may be
calculated net of such cash balances and/or other offsets and
adjustments as may be established by the Committee; (v)&nbsp;the
attainment of a specified percentage increase in earnings per
share or earnings per share from continuing operations;
(vi)&nbsp;the attainment of certain target levels of, or a
specified increase in return on capital employed or return on
invested capital; (vii)&nbsp;the attainment of certain target
levels of, or a percentage increase in, after-tax or pre-tax
return on stockholders&#146; equity; (viii)&nbsp;the attainment
of certain target levels of, or a specified increase in,
economic value added targets based on a cash flow return on
investment formula; (ix)&nbsp;the attainment of certain target
levels in the fair market value of the shares of the
Company&#146;s Shares and (x)&nbsp;the growth in the value of an
investment in the Company&#146;s Shares assuming the
reinvestment of dividends. For purposes of item (i)&nbsp;above,
&#147;extraordinary items&#148; shall mean all items of gain,
loss or expense for the fiscal year determined to be
extraordinary or unusual in nature or infrequent in occurrence
or related to a corporate transaction (including, without
limitation, a disposition or acquisition) or related to a change
in accounting principle, all as determined in accordance with
standards established by Opinion No.&nbsp;30 of the Accounting
Principles Board.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In addition, such Performance Criteria may be based upon the
attainment of specified levels of Company (or affiliate,
division or other operational unit of the Company) performance
under one or more of the measures described above relative to
the performance of other businesses that are comparable to the
Company as determined by the Committee. To the extent permitted
under the Section&nbsp;162(m) Exception (including, without
limitation, compliance with any requirements for stockholder
approval), the Committee may: (i)&nbsp;designate additional
business criteria on which the Performance Criteria may be based
or (ii)&nbsp;adjust, modify or amend the aforementioned business
criteria, provided that under no circumstances may the Committee
use its discretion to increase the amount payable to a
participant under an Award intended to qualify under the
Section&nbsp;162(m) Exception.
</DIV>

<P align="center" style="font-size: 10pt;">K-15

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt">DETACH HERE
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">ELECTRONICS BOUTIQUE HOLDINGS CORP.<BR>
PROXY SOLICITED BY THE BOARD OF DIRECTORS<BR>
ANNUAL MEETING OF STOCKHOLDERS &#151; OCTOBER 6, 2005
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The undersigned stockholder of ELECTRONICS BOUTIQUE HOLDINGS CORP. (&#147;Electronics
Boutique&#148;), revoking all previous proxies, hereby constitutes and appoints James
A. Smith and Daniel J. Kaufman, and each of them acting individually, as the
agents and proxies of the undersigned, with full power of substitution in each,
for and in the name and stead of the undersigned, to attend the 2005 Annual
Meeting of Stockholders of Electronics Boutique to be held on Thursday, October
6, 2005 at 1:00 P.M., local time, at Electronics Boutique&#146;s executive offices,
931 South Matlack Street, West Chester, Pennsylvania 19382, and to vote all
shares of common stock of Electronics Boutique which the undersigned would be
entitled to vote if personally present at the 2005 Annual Meeting, and at any
adjournment or postponement thereof; provided, that said proxies are authorized
and directed to vote as indicated with respect to the matters set forth on the
reverse side hereof:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This Proxy will be voted in the manner directed herein by the undersigned
stockholder(s). IF NO DIRECTION IS GIVEN, THIS PROXY WILL BE VOTED &#147;FOR&#148; THE
MERGER, &#147;FOR&#148; THE ADOPTION OF THE GSC HOLDINGS CORP. 2005 INCENTIVE PLAN, &#147;FOR&#148;
ALL NOMINEES FOR DIRECTOR AND &#147;FOR&#148; THE RATIFICATION OF THE APPOINTMENT OF KPMG
LLP. This Proxy also delegates discretionary authority to vote with respect to
any other business that may properly come before the 2005 Annual Meeting or any
adjournment or postponement thereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">THE UNDERSIGNED HEREBY ACKNOWLEDGES RECEIPT OF THE ANNUAL REPORT, NOTICE OF THE
2005 ANNUAL MEETING AND THE PROXY STATEMENT FURNISHED IN CONNECTION THEREWITH.
The undersigned also hereby ratifies all that the said agents and proxies may do
by virtue hereof and hereby confirms that this Proxy shall be valid and may be
voted whether or not the stockholder&#146;s name is signed as set forth below or a
seal is affixed or the description, authority or capacity of the person signing
is given or other defect of signature exists.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="20%"></TD>
    <TD width="5%"></TD>
    <TD width="50%"></TD>
    <TD width="5%"></TD>
    <TD width="20%"></TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="left" valign="top">SEE REVERSE<BR>
SIDE
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">CONTINUED AND TO BE SIGNED ON REVERSE SIDE
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">SEE REVERSE<BR>
SIDE</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">ELECTRONICS BOUTIQUE HOLDINGS CORP.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">C/O COMPUTERSHARE<BR>
P.O. BOX 8694<BR>
EDISON, NJ 08818-8694

</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">YOUR VOTE IS IMPORTANT. PLEASE VOTE IMMEDIATELY.
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">VOTE-BY-INTERNET
</DIV>


<DIV align="left" style="font-size: 10pt">LOG ON TO THE INTERNET AND GO TO HTTP://WWW.EPROXYVOTE.COM/ELBO</DIV>



<DIV align="left" style="font-size: 10pt">&#091;COMPUTER LOGO&#093;</DIV>



<DIV align="center" style="font-size: 10pt; margin-top: 18pt">OR
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">VOTE-BY-TELEPHONE

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">CALL TOLL-FREE<BR>
1-877-PRX-VOTE (1-877-779-8683)<BR>
&#091;TELEPHONE LOGO&#093;

</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">IF YOU VOTE OVER THE INTERNET OR BY TELEPHONE, PLEASE DO NOT MAIL YOUR CARD.
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD BY MAIL
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><FONT face="Wingdings 2" size="4">&#82;</FONT> &nbsp;&nbsp;PLEASE MARK VOTES AS IN THIS EXAMPLE.
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="65%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">FOR
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">AGAINST
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">ABSTAIN</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">1.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">To consider and vote upon a proposal to
adopt the Agreement and Plan of Merger,
dated as of April&nbsp;17, 2005, by and among
GameStop Corp., GameStop, Inc., GSC
Holdings Corp., Eagle Subsidiary LLC,
Cowboy Subsidiary LLC and Electronics
Boutique Holdings Corp., including the
transactions contemplated thereby,
including the EB merger (as defined
therein), pursuant to which, among other
things, separate subsidiaries of Holdco
will be merged with and into Electronics
Boutique Holdings Corp. and GameStop Corp.;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><FONT face="Wingdings" size="4">&#111;</FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><FONT face="Wingdings" size="4">&#111;</FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><FONT face="Wingdings" size="4">&#111;</FONT></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">FOR
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">AGAINST
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">ABSTAIN</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">2.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">To consider and vote upon the adoption of
the GSC Holdings Corp. 2005 Incentive
Plan;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><FONT face="Wingdings" size="4">&#111;</FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><FONT face="Wingdings" size="4">&#111;</FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><FONT face="Wingdings" size="4">&#111;</FONT></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">3.</TD>
    <TD>&nbsp;</TD>
    <TD colspan="7" valign="top" align="left">Election of seven (7)&nbsp;directors to serve on the Board of Directors, each
to hold office, subject to the provisions of Electronics Boutique&#146;s
Bylaws, for a term of one year and until their respective successors shall
have been duly elected and qualified;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">NOMINEES: (01)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="50%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="20%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top">FOR<BR>
ALL<BR>
NOMINEES
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><FONT face="Wingdings" size="4">&#111;</FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top"><FONT face="Wingdings" size="4">&#111;</FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">WITHHELD<BR>
FROM ALL<BR>
NOMINEES</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="1%">&nbsp;</TD>
    <TD width="38%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="55%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><FONT face="Wingdings" size="4">&#111;</FONT>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt">FOR, except vote withheld from the above nominee.</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="65%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">FOR
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">AGAINST
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="3" align="center" valign="top">ABSTAIN
</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">To consider and vote upon a proposal to
ratify the appointment of KPMG LLP,
registered independent public accountants,
as auditors for Electronics Boutique for
the fiscal year ending January&nbsp;28, 2006; and
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><FONT face="Wingdings" size="4">&#111;</FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><FONT face="Wingdings" size="4">&#111;</FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="3" align="center" valign="top"><FONT face="Wingdings" size="4">&#111;</FONT>
</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">5.</TD>
    <TD>&nbsp;</TD>
    <TD colspan="5" valign="top" align="left">To transact such other business as may properly come before the 2005
Annual Meeting.</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">PLEASE CHECK HERE IF YOU PLAN TO ATTEND<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;THE 2005 ANNUAL MEETING IN PERSON</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="3" align="center" valign="top"><FONT face="Wingdings" size="4">&#111;</FONT>
</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">NOTE: PLEASE MARK, SIGN AND DATE THIS PROXY AND RETURN IT IN THE ENCLOSED
ENVELOPE.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Please sign this Proxy exactly as name(s) appear in the address at left. When
signing as attorney-in-fact, executor, administrator, trustee or guardian,
please add your title as such. Corporations please sign with full corporate name
by a duly authorized officer and affix the corporate seal. If shares are held by
joint tenants or as community property, both stockholders should sign.
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="25%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Signature:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Date:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Signature:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Date:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
