EANS-Adhoc: JoWooD Entertainment AG applied for a procedure of capital reorganization at the Commercial Court Vienna in accordance with Art. 167 IO/ Insolvency Statute

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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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07.01.2011

The management board of JoWooD Entertainment AG announces that all efforts
towards restructuring of capitalization concerning outside capital as well as
equity capital had to be considered as failed on 06/01/2011.

On the basis of this fact, material insolvency occurred with this date.

Therefore today, JoWooD Entertainment AG applied for a procedure of capital
reorganization at the Commercial Court Vienna in accordance with Art. 167 IO/
Insolvency Statute.

Bond creditors of the 10% bond 2007-2011 (ISIN: AT0000A05TV0) are asked to
report directly to the company (see queries reference) to be able to coordinate
their rights.

The management board assumes that negotiations with creditors and possible
investors can be positively conducted and finalized within 90 days and thus
continuation of the company can be assured.

Further inquiry note:
JoWooD Entertainment AG
Ing. Mag. Franz Rossler, Vorstand
Mag. Philipp Brock, Investor Relations
Tel.: +43 (0)1 37909
mailto:investor@jowood.com
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:        investor@jowood.com
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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