Mad Catz Reports Received Audit Opinion Related to 'Going Concern' Paragraph

Mad Catz Interactive, Inc. ("Mad Catz" or the "Company") (NYSE: MCZ) (TSX: MCZ), today announced that its audited financial statements for the fiscal year ended March 31, 2015 included in the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission on June 25, 2015, contained a going concern paragraph in the audit opinion from its independent registered public accounting firm. The going concern paragraph is due to uncertainties about our ability to comply with certain debt covenants under our credit facility that is required to finance operations. See further discussion in footnote 2 to our consolidated financial statements included in the Company's Annual Report on Form 10-K.

This announcement is made pursuant to NYSE MKT Company Guide Section 610(b), which requires separate disclosure of receipt of an audit opinion containing a going concern paragraph. This announcement does not represent any change or amendment to the Company's consolidated financial statements or to its Annual Report on Form 10-K for the fiscal year ended March 31, 2015.