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JoWooD Productions Software AG

euro adhoc: JoWooD Productions Software AG
Fluent accomplishes first investment in JoWooD share (E)

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

By accomplishing the first subscription, amounting to 1 million Euros (400,000 shares at 2.50 Euro each), Fluent Entertainment has laid the foundation for an investment of up to 8 millions shares, which is scheduled to take place until September 30, 2004.

In an addendum to the contract it has been agreed that, concerning the earnings split policy, there will be a considerable shift favouring JoWooD, if the planned minimum investment will not be achieved. In addition to that, the duration of Fluent’s option to purchase an amount of shares equal to the investment undertaken until September 30, 2004 has been extended to four years (instead of two years as mentioned in the prospectus on pages 12, 16 and 73).

By accomplishing the first tranche, Fluent confirmed in written form its option to subscribe for the maximum number of shares and to stick to the agreed schedule. The first joint marketing activities have already been started.

The parallel public capital increase targets especially international institutional investors, but also aims to broaden the investor basis in general. It is likely to be closed today.

end of announcement            euro adhoc 14.07.2004
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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



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