14.07.2004 – 08:44

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

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