JoWooD Productions Software AG

euro adhoc: JoWooD Productions Software AG
Restructuring & Recapitalisations
JoWooD capital increase vastly oversubscribed Subscription closes early (E)

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

• 6.387.320 new 1 Euro shares placed • Previously announced strategic partner invests • Future of the group secured • Return to the Prime Market planned

JoWooD Productions Software AG has concluded a hugely successful capital increase. The company has successfully placed 6,387,320 new shares at a price of 1 Euro within two weeks of commencement of placement. Due to the enormous demand for the new shares the placement was oversubscribed and hence, the management has decided to close the placement earlier than the anticipated date of 17th July 2003. Acting as the Lead Management Bank was Capital Bank - Grawe Gruppe AG and majority placement was with Austrian investors.

The primary goal of the capital increase was to meet the company’s obligation to the recent Bank agreement amounting to Euro 3.5m in combination with the waiver of Euro 6.5m debts.This goal has been surpassed. With the investment made by the new strategic partner, JoWooD is best placed to continue it strategy in increasing sales worldwide.

The result of this capital increase and waiver by banks increases shareholders’ equity to approximately Euro 12.7m. Furthermore, the company is able to reduce its liabilities by approximately Euro 10m and converts the remaining liabilities into a long-term structure. In addition to meeting the primary goal, the success of the capital increase enables the company to further invest in new projects and product acquisition.

end of announcement            euro adhoc 10.07.2003

Further inquiry note: JoWooD Productions Software AG Dr. Michael Pistauer, Vorstand. Karin Kraberger, Investor Relations Tel.: +43 (0)3614 2966 1015

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

Weitere Meldungen: JoWooD Productions Software AG

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