GameStop Corp. Announces Commencement of Exchange Offer for Senior Floating Rate Notes and Senior Notes and $100,000,000 Note R

GameStop Corp. (NYSE:GME)(NYSE:GME.B) announced today
the commencement of the exchange offer of its and GameStop, Inc.'s
$300,000,000 Senior Floating Rate Notes due 2011 and $650,000,000 8%
Senior Notes due 2012, each registered under the Securities Act of
1933, as amended, for all of its and GameStop, Inc.'s outstanding
$300,000,000 Senior Floating Rate Notes due 2011 and $650,000,000 8%
Senior Notes due 2012 sold on September 28, 2005 pursuant to Rule 144A
and Regulation S under the Securities Act of 1933, as amended. The
exchange offer will expire at 5:00 p.m. New York City time on June 16,
2006, unless extended.
   The company also announced today that its Board of Directors has
authorized the buyback of up to an aggregate of $100,000,000 of its
Senior Floating Rate Notes and Senior Notes. The timing and amount of
the repurchases will be determined by the company's management based
on their evaluation of market conditions and other factors. In
addition, the repurchases may be suspended or discontinued at any
time.
   This press release does not constitute an offer to sell or a
solicitation of an offer to buy any notes or any other securities, nor
will there be any sale of the notes or any other security in any
jurisdiction in which such an offer or sale would be unlawful.

   About GameStop Corp.

   Headquartered in Grapevine, TX, GameStop Corp.
(NYSE:GME)(NYSE:GME.B) is the world's largest video game and
entertainment software retailer. The company operates 4,565 retail
stores across the United States and in fourteen countries worldwide.
The company also owns two e-commerce sites, GameStop.com and
EBgames.com, and Game Informer(R) magazine, a leading multi-platform
video game publication. GameStop Corp. sells new and used video game
software, hardware and accessories for next generation video game
systems from Sony, Nintendo, and Microsoft. In addition, the company
sells PC entertainment software, related accessories and other
merchandise. General information on GameStop Corp. can be obtained at
the company's corporate website:
http://www.gamestop.com/investor-relations/.

   Safe Harbor

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