euro adhoc: JoWooD Productions Software AG / other / Organizational change at JoWooD (E)

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

  • JoWooD announces resignations of the entire board of the supervisory board
  • Extraordinary shareholders` meeting to reinstate new board of directors will be scheduled immediately
  • New board of directors should bring experience in international distribution and media-industry to implement a step forward in internationalisation and distribution in the interest of all shareholders
  • The members of the management board see a significant support by the shareholders in their chosen path

The JoWooD Productions Software AG a publicly listed company at the Vienna Stock Exchange announced the resignation of all members of the supervisory board after Dr. Michael Drexel, member of the board, declared his resignation already last Monday.

The announcement of the resignations reached the company yesterday afternoon after the closing of the stock market.

Any previous press reports or interviews are stand alone statements by the members of the board, which did not originate from the company nor were they given in its accordance. On the contrary to these medial descriptions, the company is good on terms with all the stockholders.

Despite the successful restructuring campaign the efforts of internationalisation and distribution did not lead to the desired results. The new supervisory board should bring experience in internationalisation and media-industry.
Existing deficits in sales have to be removed fast to benefit from the excellent game-pipeline in 2005. The game-portfolio will be a well balanced mix of PC- and Console-based titles including outstanding brands (Gothic, Spellforce, Stargate etc.).
JoWooD successfully entered the console-market with its own products mid of this year.

The new supervisory board will be nominated within an extraordinary shareholders´ meeting. Details will be announced shortly in the Wiener Zeitung and in separate public announcements. The extraordinary shareholders´ meeting is expected to be held in the mid of January.

The shareholders are invited to propose corresponding suggestions for nominees.

In the company’s point of view the changes in the board of members are an important step for the further strategic positioning for JoWooD.

Further informations:

Dr. Michael Pistauer
E-mail: investor@jowood.com
Tel.: +43 3614 2966 1022
Fax: +43 3614 2966 1023
www.jowood.com

Further inquiry note:
JoWooD Productions Software AG
Dr. Michael Pistauer, Vorstand.
Mag. Oliver Ruetz, Investor Relations
Tel.: +43 (0)3614 2966 1016
mailo:investor@jowood.com
http://www.jowood.com

emitter: JoWooD Productions Software AG Technologiepark 4a A-8786 Rottenmann phone: 0043 3614 2966-1015 FAX: 0043 3614 2966-1064 mail: investor@jowood.com WWW: http://www.jowood.com ISIN: AT0000747357

end of announcement euro adhoc

indexes:
stockmarkets:

sector: Software language: English

OTS-ORIGINALTEXT UNTER AUSSCHLIESSLICHER INHALTLICHER VERANTWORTUNG DES AUSSENDERS | OTB0013