EANS-Adhoc: JoWooD Entertainment AG announces shareholders' meeting due to expected losses

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ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
distribution. The issuer is solely responsible for the content of this
announcement.
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22.09.2010

? Losses amounting to half the share capital likely in Q2 financial statements
? Managing board to call extraordinary shareholders' meeting
? Drawing up of Q2 financials taking longer than expected

The managing board of publicly-listed JoWooD Entertainment AG yesterday notified
the supervisory board that the losses set forth in the Q2 financial statements
will probably equal or exceed half the share capital of JoWooD Entertainment AG.
The main reasons are credits granted in connection with price reductions,
returned goods and requirements for value adjustments related to games launched
in the market last year.

Accordingly, the managing board will call an extraordinary shareholders'
meeting, in the course of which it will present the financial situation of the
company as well as strategies and concrete measures for the successful
continuation of the business.

The completion of the interim financial statements for the second quarter of
2010, most recently announced for the end of September, will be postponed
because material accounting and valuation issues could not be resolved in the
course of drawing up the Q2 financials.

The extraordinary shareholders' meeting will proably be held during the first
half of November 2010. Until then, the creation of the financial statements
should be at a stage sufficient to enable the shareholders' meeting to take
appropriate measures on the basis of the Q2 financial statements.

The launch of the game ArcaniA planned for 12 Oktober 2010 is not affected by
the above. The game will score with numerous new features and JoWooD expects the
new release to contribute significantly to the revenues in the second half of
2010.

Further inquiry note:
JoWooD Entertainment AG
Ing. Mag. Franz Rossler, Vorstand
Mag. Philipp Brock, Investor Relations
Tel.: +43 (0)1 37909
mailto:[email protected]
http://corporate.jowood.com
end of announcement euro adhoc
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issuer:   JoWooD Entertainment AG
          Heiligenstädter Straße 201-203 / Top 19
          A-1190 Wien
phone:    +43 (0)1 37909-0
FAX:      +43 (0)1 37909-1064
mail:     [email protected]
WWW:      http://www.jowood.com
sector:   Software
ISIN:     AT0000747357
indexes:  WBI, ViDX, mid market

stockmarkets: free trade: Berlin, Frankfurt, Stuttgart, München, Regulated free
trade: Wien
language: English

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