JoWooD Productions Software AG

euro adhoc: JoWooD Productions Software AG
Capital increase for consolidating JoWooD┬ĺs strategic positioning (E)

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- 8.550.741 young stocks will be offered from November 17 to December 5 presumably - Strategic consolidation and increase in the number of development projects in the top-games segment - Proven team: Capital Bank as lead manager of the transaction

Vienna / Rottenmann, November 17, 2003. After a successful restructuring, the internationally renowned computer games developer and publisher JoWooD Productions Software AG which is listed at the Vienna Stock exchange, is planning another capital increase to consolidate its strategic positioning. The objective of this transaction is the intensification of several development projects which are aiming at the creation of new and the expansion of existing brands with a top-ten potential.

During the offer period which will last presumably until December 5, 8.550.741 young stocks with a nominal value of EUR 1,- will be offered. Existing shareholders will have the right to purchase until December 1 new stocks at a ratio of two existing stocks to one young stock. Purchase rights will be traded at the Vienna Stock Exchange presumably on November 21, 24 and 25 and at the Berlin Stock Exchange on November 25. The purchase price (offer price) was set at EUR 2,-. Capital Bank will be the lead manager for the offer.

JoWooD intensifies the implementation of her new strategy

The funds raised from the capital increase will be used for the financing of new game development projects which will allow JoWooD to further concentrate on her core competencies - development and publishing of top-ten titles. The strategy focuses on the development of games with a top-ten potential, in particular, extensions and expansions of JoWooD┬ĺs own brands (e.g. Gothic, Soldner, Spellforce or the Giant Series) but also licensed intellectual properties (e.g. Stargate).

At the same time, JoWooD will position herself as a multiplatform-developer in order to generate maximal synergies across all platforms. In addition, measures will be taken and structures will be implemented which will allow for a reduction of development costs and times. These measures will include the establishment of competence centers as well as the use of task forces and proprietary basis technology. The critical size which is necessary for being a successful publisher will be reached by forging strategic partnerships. For example, JoWooD recently entered into a development alliance with the Australian games developer Perception. This alliance includes the publishing rights for the international top-license to the science fiction classic Stargate. Perception as the license holder will commission JoWooD with the world wide publishing of the title which is scheduled for release in 2005.

Successful completion of the restructuring and good prospects for the full year

JoWooD confirmed her turnaround by completing her fourth positive quarter in a row although the previous quarters were affected by significant restructuring expenses. The group result after minority interests for the first three quarters of 2003 was TEUR 266. EBIT before restructuring expenses as of the end of the third quarter amounted to TEUR 4.887. At the end of the third quarter, revenues were also significantly above plan with TEUR 17.276. The success of JoWooD┬ĺs product portfolio, in particular, of the titles Against Rome, Chaser, Gothic 2 Add on and Railroad Pioneer contributed significantly to the positive result. Thus, 10 of a total of 14 titles scheduled for 2003 were released by the third quarter.

On the basis of her attractive product product-pipeline and the perseverant implementation of the restructuring measures, JoWooD expects a significantly positive result for the business year 2003.

end of announcement            euro adhoc 17.11.2003
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Further inquiry note: JoWooD Productions Software AG Dr. Michael Pistauer, Vorstand. 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
B├Ârsen:  Wiener B├Ârse AG / official dealing
              Berliner Wertpapierb├Ârse / free trade
              Bayerische B├Ârse / free trade
              Baden-W├╝rttembergische Wertpapierb├Ârse / free trade
              Frankfurter Wertpapierb├Ârse / free trade



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