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

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.

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.

end of announcement euro adhoc

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

Rückfragen & Kontakt:

JoWooD Entertainment AG
Ing. Mag. Franz Rossler, Vorstand
Mag. Philipp Brock, Investor Relations
Tel.: +43 (0)1 37909
investor@jowood.com
http://corporate.jowood.com