Ebensee, 19.05.2004 - Disclosure announcement transmitted by euro adhoc.The issuer is responsible for the content of this announcement.
JoWooD Productions Software AG JoWooD announces time table for entryof a strategic partner for development of the US market
At the annual shareholder?s meeting on April22, 2004 JoWooD presented its medium-term strategy which laidparticular emphasis on the improvement of the company?s salesperformance in the US market. The previous business year saw afurther increase in JoWooD?s already significant market share inGermany and the adjacent European regions. With a 4.22 % marketshare JoWooD ranks # 5 (2002: # 6) in the market for PC entertainmentsoftware. JoWooD?s rather small share of the global market for PCentertainment of about 0.8% and the fact that the company has so fartargeted the console market with only limited effort explain whyJoWooD?s share of the worldwide market for entertainment softwarehas, up to now, not exceeded the per mill range. By restructuring itsdistribution JoWooD managed to increase its US result significantlyfrom losses in the previous years to over EUR 2m, (unadjustedmargin), in 2003. However, with US revenues of below EUR 3m,JoWooD?s sales in the industry?s biggest single market still remainwell below the company?s potential.
In order to reap the true potential of it?s proven product portfolio,JoWooD is seeking a strategic alliance with partner with a strongmarket presence in the US. This partnership will go hand in handwith the partner?s acquisition of a non-controlling stake in JoWooDby way of a capital increase, and the co-publishing of the otherpartner?s product portfolios by both partners. In addition, JoWooDwill intensify its own international marketing activities. The termsfor the capital increase will be decided at an extra ordinaryshareholder?s meeting on June 15, 2004. The capital increase will beconducted in two tranches. The first tranche will be open only tothe strategic partner and will exclude subscription by existingshareholders. The second tranche will be offered to existingshareholders at equal terms. The capital increase is scheduled forthe second half of June and will be managed by Capital Bank - GRAWEGruppe AG.The primary objective of the capital increase is to forge an alliancewith a strategic partner. Therefore, the issue price shall not takeinto account recent short-deviations in the stock price.The strategic partner and details of the capital increase will beannounced at a press conference on May 26, 2004.
Further inquiry note:JoWooD Productions Software AGDr. Michael Pistauer, Vorstand.Karin Kraberger, Investor RelationsTel.: +43 (0)3614 2966 1015mailo:email@example.com://www.jowood.comTel: 0043 3614 2966-1015FAX: 0043 3614 2966-1023Email: firstname.lastname@example.org
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