EANS-Adhoc: JoWooD Entertainment AG announces shareholders' meeting due to expected losses

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ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
distribution. The issuer is solely responsible for the content of this
announcement.
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22.09.2010

• Losses amounting to half the share capital likely in Q2 financial
statements • Managing board to call extraordinary shareholders'
meeting • Drawing up of Q2 financials taking longer than expected

The managing board of publicly-listed JoWooD Entertainment AG
yesterday notified the supervisory board that the losses set forth in
the Q2 financial statements will probably equal or exceed half the
share capital of JoWooD Entertainment AG. The main reasons are
credits granted in connection with price reductions, returned goods
and requirements for value adjustments related to games launched in
the market last year.

Accordingly, the managing board will call an extraordinary
shareholders' meeting, in the course of which it will present the
financial situation of the company as well as strategies and concrete
measures for the successful continuation of the business.

The completion of the interim financial statements for the second
quarter of 2010, most recently announced for the end of September,
will be postponed because material accounting and valuation issues
could not be resolved in the course of drawing up the Q2 financials.

The extraordinary shareholders' meeting will proably be held during
the first half of November 2010. Until then, the creation of the
financial statements should be at a stage sufficient to enable the
shareholders' meeting to take appropriate measures on the basis of
the Q2 financial statements.

The launch of the game ArcaniA planned for 12 Oktober 2010 is not
affected by the above. The game will score with numerous new features
and JoWooD expects the new release to contribute significantly to the
revenues in the second half of 2010.

end of announcement euro adhoc
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ots Originaltext: JoWooD Entertainment AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

JoWooD Entertainment AG

Ing. Mag. Franz Rossler, Vorstand

Mag. Philipp Brock, Investor Relations

Tel.: +43 (0)1 37909

mailto:investor@jowood.com

http://corporate.jowood.com

Branche: Software
ISIN: AT0000747357
WKN: 935221
Index: WBI, ViDX, mid market
Börsen: Berlin / free trade
Frankfurt / free trade
Stuttgart / free trade
München / free trade
Wien / Regulated free trade