euro adhoc: JoWooD Productions Software AG / Successful Capital Increase and Top Titles to secure JoWooD’s future (E)

Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.

After successful negotiations with banks and investors, together with a capital increase, the future of JoWooD Productions Software AG is secured. Having put together a compelling restructuring program and an extensive release schedule, EUR 3 million has been successfully placed with selected strategic investors. The funds raised by the capital increase exceeded expected volume required for the restructuring program currently in place (EUR 2,5 million). At the same time JoWooD’s banks have agreed, in an extensive refinancing program, on the restructuring measures and will continue to work with JoWooD.

In other positive news, Gothic II has far exceeded expectations and is now the most successful game in JoWooD’s history. In the run up to the highly competitive Christmas season, Gothic II was number 1 in the German Media Control charts and successfully outperformed Lord of the Rings and Harry Potter. As a direct consequence to this success, Q4/2002 will already show a clear positive trend.

Details of the capital increase, the continuing restructuring measures as well as latest operative developments will be announced by Christian Wolff, chairman of the supervisory board, Michael Pistauer, new CFO and responsible for investor relations and corporate communications, company founder and member of the board Andreas Tobler and Thomas Kirchenkamp, member of the board and responsible development, in a press conference on Tuesday, January 14, in Vienna.

Michael Pistauer was formerly a managing partner of Deloitte&Touche Corporate Finance and was in charge of the restructuring program of JoWooD together with the supervisory board and JoWooD’s management.

Further inquiry note:
JoWooD Productions Software AG
Dr. Michael Pistauer, CFO
Karin Kraberger, Investor Relations
Tel.: +43 (0)3614 2966 1015
Tel: 0043 3614 2966-1015
FAX: 0043 3614 2966-1023

end of announcement euro adhoc

Emittent: JoWooD Productions Software AG
Bahnhofstrasse 22
AT-4802 Ebensee
Tel: 0043 3614 2966-1015
FAX: 0043 3614 2966-1023
ISIN: AT0000747357
WKN: 074735
Indizes: ATX Prime, ViDX, WBI
Börsen: free trade Baden-Württembergische Wertpapierbörse, Bayerische Börse, Berliner Wertpapierbörse, Frankfurter Wertpapierbörse; official dealing Wiener Börse AG
Branche: Software
Sprache: Englisch