EXHIBIT 99.1

                                                    CONTACT:  Heather Greer
                                              Interplay Entertainment Corp.
                                                       HGREER@INTERPLAY.COM
                                                             (949) 553-6655

                                                      FOR IMMEDIATE RELEASE


                      INTERPLAY RECEIVES DEFICIENCY NOTICE
                                   FROM NASDAQ

     IRVINE, Calif., February 15, 2002 -- Interplay Entertainment Corp. (Nasdaq:
IPLY) announced today that it received a "deficiency notice" from the Nasdaq
Staff dated February 14, 2002, stating that for the last 30 consecutive trading
days, Interplay's common stock has not maintained a minimum market value of
publicly held shares of $15,000,000 and a minimum bid price per share of $3.00
as required for continued listing under Nasdaq Marketplace Rules 4450(b)(3) and
4450(b)(4), respectively. Additionally, Interplay does not meet Nasdaq's
alternative listing requirements, which require, among other things, that
Interplay have a stockholders' equity of $10 million, a minimum market value of
publicly held shares of $5,000,000 and a minimum bid price per share of $1.00
Interplay has been provided 90 calendar days, or until May 15, 2002, to regain
compliance. Interplay intends to make every effort to regain compliance prior to
the May 15, 2002, deadline. If Interplay fails to regain compliance, the company
expects to be notified by Nasdaq that its securities will be delisted.

ABOUT INTERPLAY ENTERTAINMENT CORP.

Interplay Entertainment Corp. is a leading developer, publisher and distributor
of interactive entertainment software for both core gamers and the mass market.
Interplay currently balances its development efforts by publishing for personal
computers as well as current and next generation video game consoles. Interplay
releases products through Interplay, Shiny Entertainment, Digital Mayhem, Black
Isle Studios, its distribution partners and its wholly owned subsidiary
Interplay OEM, Inc. More comprehensive information on Interplay and its products
is available through its worldwide web site at HTTP://WWW.INTERPLAY.COM.

     Safe Harbor Statement under the Private Securities Litigation Reform Act of
1995:

Statements contained in this release except for historical information are
forward-looking statements that are based on current expectations and involve
risks and uncertainties. Without limiting the generality of the foregoing, words
such as "may," "will," "expect," "believe," "anticipate," "intend," "could,"
"estimate," or "continue" or the negative or other variations thereof or
comparable terminology are intended to identify forward-looking statements. The
risks and uncertainties inherent in such statements may cause actual future
events or results to differ materially and adversely from those described in the
forward-looking statements. For example, Interplay's ability to regain
compliance with Nasdaq's continued listing requirements for the National Market
and Interplay's ability to qualify for listing on the Nasdaq SmallCap Market
depends on the company's stock price increasing, and the many business, economic
and other factors that affect a company's stock price, Interplay's ability to
raise capital and other factors. Additional important factors that may cause
actual future events or results to differ materially and adversely from those
described in the forward-looking statements are discussed in the Company's
filings from time to time with the Securities and


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Exchange Commission, including but not limited to the Company's annual reports
on Form 10-K and the Company's subsequent quarterly filings on Form 10-Q.
Interplay disclaims any obligation to revise or update any forward-looking
statements that may be made from time to time by it or on its behalf.

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