18.12.2002 – 08:39

JoWooD Productions Software AG

euro adhoc: JoWooD Productions Software AG
Restructuring & Recapitalisations
Extraordinary general meeting of december 18th, 2002 (E)

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

JoWooD Productions Software AG is announcing details on their ongoing
restructuring program as well as the results for the 3rd quarter of
the 2002 financial year. The announcements will be made public at
today’s extraordinary general meeting. 
Sales for the first 3 quarters of 2002 before the restructuring
efforts amount to EUR 34.8 million as announced earlier. EBIT before
restructuring measures is at minus EUR 3.7 million, the net income is
minus EUR 5.24 million and the net income before minorities at minus
EUR 3.3 million.
Taken into consideration the restructuring measures the sales of the
first 3 quarters of 2002 amount to EUR 30.2 million, EBIT is at minus
EUR 42.9 million, net income is minus EUR 34.7 million and net income
before minorities is at minus EUR 30.4 million. 
The restructuring program of JoWooD is based on refocusing on the
core competencies of entertainment software development and
publishing. Therefore several offices will be merged. JoWooD
Productions Software AG will reduce its staff down to about 50% to be
able to fully concentrate on the core business of developing state of
the art full price computer games.
The earlier announced capital increase by issuing an additional
amount of 5 million shares in the name of the holder foreseen to be
effective as of January 1st 2003 is still not to be considered
secured due to the ongoing negotiations with investors and banks.
The implementation of the restructuring measures as well as the
immediate future of the company is also still dependent on the
negotiations with investors and banks involved.
In conjunction with the restructuring measures JoWooD’s current CFO
Andreas Wiedwald will resign from his position.

end of announcement        euro adhoc 18.12.2002

Further inquiry note:

JoWooD Productions Software AG Andreas Tobler, CEO. Karin Kraberger, Investor Relations
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: Baden-Württembergische Wertpapierbörse / free trade
Bayerische Börse / free trade
Berliner Wertpapierbörse / free trade
Frankfurter Wertpapierbörse / free trade
Wiener Börse AG / official dealing