02.12.2003 – 08:22

JoWooD Productions Software AG

euro adhoc: JoWooD Productions Software AG
Multiple oversubscription of JoWooD’s offering in course of capital increase Early closing because of high demand (E)

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

Jowood Software Productions Gmbh completed her capital increase with
great success. The entire offering of 8.550.741 young stocks at a
price of 2 EUR per stock was placed within the subscription period to
existing share holders. The bigger part of the offering was sold to
holders of subscription rights.  National and international
institutional investors showed very high interest during the public
offering. The demand among retail-customers was also very
encouraging. A significant percentage of orders based on subscription
rights came from Austrian private investors. The public offering was
over-subscribed eight fold.

Because of the strong demand and the multiple over-subscription the
management opted for an early closing of the subscription period
which was originally planned to last until December 5. The capital
increase was carried out under the lead management of Capital Bank -
Grawe Group AG.

The proceeds of the share offering amounting to 17.101.482 EUR will
be used for the development of games and in-house technology. 
Closely following her new stragtegic orientation JoWooD is
concetrating on her core competencies, development and publishing of
own and and licensed brands with a top ten potential. The funds
raised during the capital increase will also be used to fortify
JoWooD’s position as a multi-platform publisher. Already in the
coming year console games are expected to contribute around one third
of JoWooDs total revenue. In addition, JoWooD is planning the
acquisition of further promising movie- and television-licenses.

"The result of the capital increase underscores JoWooD’s successful
turnaround and the new company strategy. Based on the successful
implementation of our revised distribution model and the
concentration on top-titles we are expecting a clearly positive
annual result. The multiple awards winning game "SpellForce" which
was released on November 11, 2003, received excellent reviews form
the special interest press and is one of the gaming industry’s
christmass hits. The first feedback from the market is very
promising, comented CEO Andreas Tobler and CFO Michael Pistauer.

end of announcement        euro adhoc 02.12.2003

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