Monday, January 3, 2011

election at Immersion Corporation’s 2011 annual meeting of shareholders

On December 29, 2010, Value and Opportunity Master Fund delivered a letter to the Issuer (the “Nomination Letter”)
nominating Messrs. Barron, Feld and/or Traub, (the “Nominees”), as set forth therein, and announcing its intention to solicit proxies for their
election to the Issuer’s Board at the Issuer’s 2011 annual meeting of shareholders, or any other meeting of shareholders held in lieu thereof, and
any adjournments, postponements, reschedulings or continuations thereof (the “2011 Annual Meeting”). The Reporting Persons believe that
the terms of two (2) directors currently serving on the Board expire at the 2011 Annual Meeting and if this remains the same, Value and
Opportunity Master Fund will withdraw one (1) of its Nominees. The Reporting Persons intend to engage in discussions with management, the
Board and shareholders of the Issuer regarding the nomination of directors at the 2011 Annual Meeting and the composition of the Issuer’s
Board generally.

Ramius, as the sole member of each of Value and Opportunity Advisors and Ramius Advisors, may be deemed the beneficial
owner of the (i) 1,756,872 Shares owned by Value and Opportunity Master Fund, (ii) 331,898 Shares owned by Navigation
Master Fund and (iii) 217,790 Shares owned by COIL.

Percentage: Approximately 8.2%.

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