JoWooD Productions Software AG

euro adhoc: JoWooD Productions Software AG
JoWooD announces the closing of a Development Studio

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JoWooD Productions Software AG, listed on the Viennese stock market, announces today that it will close the development company Massive Development GmbH in Mannheim, Germany.

This capacity reduction is part of the announced action plan in order to reduce costs and optimize the product portfolio.

•In compliance with the new product strategy JoWooD will concentrate on titles with international distribution potential and sets measures to tighten its future product line-up.

•The closing of this studio enables JoWooD to award its new product concepts according to economic, technical and quality criteria as well as on the basis of the track records of potential contractors.

•This measure, coupled with the new cost management strategy, reduces the burden of fix costs allowing control derived from milestone delivery.

The title currently under development at Massive is in the final stages of approval with the console platform holders, its completion and release by JoWooD will remain unaffected by this action.

end of announcement                                euro adhoc 30.05.2005 10:23:34

Further inquiry note: JoWooD Productions Software AG Dr. Albert Seidl, Vorstand Matthias Rathammer, Investor Relations Tel.: +43 (0)1 / 522 18 66 - 11

Branche: Software
ISIN:      AT0000747357
WKN:        074735
Index:    WBI, ATX Prime, ViDX
Börsen:  Berliner Wertpapierbörse / free trade
              Baden-Württembergische Wertpapierbörse / free trade
              Frankfurter Wertpapierbörse / free trade
              Bayerische Börse / free trade
              Wiener Börse AG / official dealing

Weitere Meldungen: JoWooD Productions Software AG

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