Mad Catz® Receives Notice of Noncompliance with NYSE MKT Continued Listing Standards

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SAN DIEGO–(BUSINESS WIRE)–Mad Catz Interactive, Inc. (the “Company”) (NYSE MKT:MCZ), today
announced that on February 20, 2017, it received notice from the NYSE
MKT indicating that, based on the Company’s stockholders’ deficit of
$2.7 million as reported in its Quarterly Report on Form 10-Q for the
quarter ended December 31, 2016, the Company is not in compliance with
Sections 1003(a)(i) or 1003(a)(ii) of the NYSE MKT Company Guide (the
“Company Guide”). Section 1003(a)(i) of the Company Guide requires a
company that has had losses from continuing operations in two of its
three most recent fiscal years to have at least $2.0 million of
stockholders’ equity. Section 1003(a)(ii) of the Company Guide requires
a company that has had losses from continuing operations in three of its
four most recent fiscal years to have at least $4.0 million of
stockholders’ equity. The Company is required to and expects to submit a
plan to the NYSE MKT by March 22, 2017 advising of actions it has taken
or intends to take to regain compliance with the continued listing
standards by August 20, 2018. If the Company fails to submit a plan by
the deadline, or if the Company’s plan is not accepted by the NYSE MTK
or it fails to regain compliance by the deadline, the NYSE MKT may
commence delisting procedures.

The Company’s common stock will remain listed on the NYSE MKT while it
attempts to regain compliance with the above noted listing standards,
subject to the Company’s compliance with other continued listing
requirements. The Company’s common stock will continue to trade under
the symbol “MCZ,” but will be included in the list of noncompliant
issuers and an indicator will be disseminated with the Company’s symbol
to indicate that it is not in compliance with the NYSE MKT’s listing
standards. The NYSE MKT notification does not affect the Company’s
business operations or its SEC reporting requirements and does not
conflict with or cause an event of default under any of the Company’s
material agreements.

About Mad Catz

Mad Catz Interactive, Inc. (“Mad Catz”) (NYSE MKT: MCZ) is a global
provider of innovative interactive entertainment products marketed under
its Mad Catz® (gaming) and Tritton® (audio) brands. Mad Catz products
cater to gamers across multiple platforms including in-home gaming
consoles, handheld gaming consoles, Windows PC and Mac® computers, smart
phones, tablets and other smart devices. Mad Catz distributes its
products through many leading retailers around the globe. Headquartered
in San Diego, California, Mad Catz maintains offices in Europe and Asia.
For additional information about Mad Catz and its products, please visit
the Company’s website at www.madcatz.com.

Social Media

Facebook: https://www.facebook.com/MadCatz.Global
Twitter:
http://twitter.com/MadCatz
YouTube:
http://www.youtube.com/MadCatzCompany

Cautionary Note Regarding Forward-Looking Statements

Information in this press release that involves the Company’s
expectations, business prospects, plans, intentions or strategies
regarding its future are forward-looking statements that are not facts
and that involve substantial risks and uncertainties. You can identify
these statements by the use of words such as “seek,” “anticipate,”
“plan,” “estimate,” “expect,” “believe” and “intend” and statements that
an event or result “may,” “will,” “should,” “could” or “might” occur or
be achieved and other similar expressions together with the negative of
such expressions. These forward-looking statements reflect management’s
current beliefs and expectations and are based on information currently
available to management, as well as its analysis made in light of its
experience, perception of trends, current conditions, expected
developments and other factors and assumptions believed to be reasonable
and relevant in the circumstances. These assumptions include, but are
not limited to, continuing demand by consumers for video game systems
and accessories, the ability to maintain or extend our existing
licenses, the ability to continue producing and selling our products in
accordance with various intellectual property that might apply to said
products, the continuance of timely and adequate supply from third party
manufacturers and suppliers, the continued satisfaction of our
obligations under our existing loan agreements and any future loan
agreements we may obtain, the continual trading or quotation on a market
exchange, and that the trading volume of the Company’s common stock will
be sufficient to provide for an efficient trading market or whether
quotes for the Company’s common stock may be blocked in the future. A
further list and description of these and other factors, risks,
uncertainties and other matters can be found in the Company’s most
recent annual report, and any subsequent quarterly reports, filed with
the U.S. Securities and Exchange Commission and the Canadian Securities
Administrators. Forward-looking statements are not guarantees of future
performance or outcomes and actual results could differ materially from
those expressed or implied by the forward-looking statements. We assume
no obligation to update or alter such forward-looking statements whether
as a result of new information, future events or otherwise except as
required by law.

Mad Catz, and the Mad Catz logo are trademarks or registered trademarks
of Mad Catz Interactive, Inc., its affiliates and/or subsidiary
companies. All other marks are the property of their owners.

Contacts

Mad Catz Communications:
Dave McKeon, +1 858-790-5045
Chief
Financial Officer
dmckeon@madcatz.com
or
Investor
Relations:
JCIR
Joseph Jaffoni, Norberto Aja, Jim Leahy
+1
212-835-8500
mcz@jcir.com