30.10.2003 – 20:04

JoWooD Productions Software AG

euro adhoc: JoWooD Productions Software AG
Board of Directors (Appointments and Changes)
Extraordinary shareholders meeting JoWooD Productions Software AG Acceptance of all agenda items (E)

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

A capital increase from EUR 17,101.481 to EUR 25,652.222, was
unanimously accepted in today’s extraordinary shareholders meeting of
JoWooD Productions Software AG. The capital increase shall be
realised by issuing of 8,550,741 shares with a nominal value of EUR 1
per share to registered shareholders, with participating rights
beginning 1st January 2003 and at a purchase price of EUR 2. The
strategic concept going forward as discussed in today’s shareholder
meeting forms the basis of the capital increase. The focus thereby
lies on own and licensed brands along with multiplatform publishing.
Licensed brands are mainly TV and movie rights.

Additionally the vote for approved capital was accepted. The increase
can be affected at any time during five years from the date pursuant
to an entry made in the company’s contract to commercial register up
to a value of EUR 8.5 million in multiple transactions (subject to
board approval). The offer will be placed at shares with nominal
value of EUR 1 at a price or consideration in kind to be agreed at
the time of the transaction. The capital increase authorisation may
only be used either against contribution in kind, or contribution in
cash or acquisition of investment, enterprises, companies and parts
of companies, or other assets. Shareholders may be totally or
partially excluded from share subscription rights on such
transactions.Management board will decide in accordance with the
supervisory board on total or partial exclusion of subscription
rights on shares, issue value of the stocks and conditions of issue.

Furthermore, shareholders in today’s shareholders meeting authorised
the managing board to implement an extended share buy back scheme of
up to 10% of shareholder’s equity within 18 months of today’s
decision. The modified scheme allows the Managing Board greater
flexibility in using the purchased shares. Such equity can either be
de-listed, used as remuneration in exchange for a strategic
partnership or for a stock option programme.

Finally the decision to move the registered office address of JoWooD
Productions Software AG to Rottenmann / Styria was approved. This
approval goes along with a subsidy of EUR 450,000 from the Styrian
state council.

There are no changes in the supervisory board.

end of announcement        euro adhoc 30.10.2003

Further inquiry note:

JoWooD Productions Software AG
Dr. Michael Pistauer, Vorstand.
Karin Kraberger, Investor Relations Manager.
Tel.: +43 (0)3614 2966 1015
mailo:investor@jowood.com
http://www.jowood.com

Branche: Software
ISIN: AT0000747357
WKN: 074735
Index: ATX Prime, ViDX, WBI
Börsen: Wiener Börse AG / official dealing
Berliner Wertpapierbörse / free trade
Bayerische Börse / free trade
Baden-Württembergische Wertpapierbörse / free trade
Frankfurter Wertpapierbörse / free trade