Note: This trick requires two controllers. Enter the options menu. Set the "Autosave" setting to "On" and "Team Members" to "5". Start the game in vs. team battle mode. Choose any five characters for both teams. Press Start then select "Quit" as soon as the match begins. Select vs. team battle mode again, and repeat the same steps, immediately quitting after each match begins. Kohryu, Uranus, and Fang will be unlocked will eventually become unlocked as you do this. You must do this over twenty five times in order to unlock all the characters and stages.

Cronos and Evil Lab stage: 11 times
Fang:26 times
Ganesha and Indian Palace stage: 6 times
Kohryu: 16 times
Uranus and Chaos Lab stage: 21 times