15.06.2004 – 15:31

JoWooD Productions Software AG

euro adhoc: JoWooD Productions Software AG
Extraordinary shareholder’s assembly approves formal requirements for entry of a strategic partner (E)

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

Motions calling for extending the company’s nominal capital by up to
7,880,000 shares through a public capital increase, extending the
authorized capital by up to 10m shares, and authorizing the executive
board to issue with the permission of the company’s advisory board
options for the purchase of up to 8m shares to the strategic partner,
were submitted to the shareholder’s assembly.

The relevant capital transactions will commence in June.

The strategic partner Fluent Entertainment Inc. will be contractually
bound to acquire a minimum of 4m JoWooD shares. Fluent may extend
this investment to up to 8m shares until September 30, 2004 provided
that Fluent’s stake does not exceed 20% of JoWooD’s capital. For each
purchased share, Fluent will furthermore obtain a 1:1 share option
with a maturity of two years. However, Fluent may exercise these
options only up a limit of a 20% total investment in JoWooD. Fluent
may not sell JoWooD shares in large quantities at the stock exchange
during the maturity period. The issue price for the capital increase
related to the cooperation agreement will be around 2.5 EUR. The
shares will be issued form the authorized capital, subscription by
existing shareholders will be excluded.

All points on the agenda were approved with the required quorums.

The details of the public share offer will be announced later this
week upon the deposit of the prospectus. The issue price of the
public offer will not exceed the issue price of the offer to Fluent.

end of announcement        euro adhoc 15.06.2004

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