DALLAS, Nov. 14 /PRNewswire/ -- 7th Level, Inc. (Nasdaq: SEVL) announced an agreement with Take-Two Interactive Software, Inc. (Nasdaq: TTWO) for the master distribution of 7th Level's line of Monty Python titles.

The Python agreement provides for Take-Two to be the master distributor for all 7th Level/Python products including "Monty Python's Complete Waste of Time", "Monty Python and the Quest for the Holy Grail", "the Desktop Pythonizer" as well as the newest title in the series, "Monty Python's The Meaning of Life". 7th Level gold-mastered "Monty Python's The Meaning of Life" on November 4th and it is expected on store shelves in December. In return for the master distribution rights Take-Two is paying 7th Level an advance of $1.5 million against 7th Level's revenue from sales of these titles with the opportunity to increase that advance against revenues by $250 thousand in January of 1998 on reaching an agreement with Take-Two granting them the right to publish and distribute the next Python title.

Monty Python's The Meaning...