EANS-Adhoc: JoWooD Entertainment AG Postpones Publication of Results for Q2 2010 due to Extended Scrutiny of Financials

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ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
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Company Information

18.08.2010

• Current accounting indicates substantial losses for the first
half-year of FY 2010 • Group financial statements 2009 to be included
in audit based on current assessment • Publication of Q2 results
delayed until September 30, 2010 at the latest

Due to significant reasons, publicly-listed JoWooD Entertainment AG
will not, as planned, publish second quarter results on August 31.
The current state of the consolidation indicates that the group
incurred a substantial loss during the first half of 2010. Since the
data currently available requires additional comprehensive analysis,
the management is currently unable to provide reliable information
regarding the extent of such losses.

Due to market developments in recents months, JoWooD seeks to provide
as realistic a description of the assets, financial affairs and
results as possible. In this connection, a fundamental scrutiny,
including an impairment test, of all assets accounted for is
required.

The market for computer games has shrunk during the first half of
2010; the U.S. market itself has decreased by approximately 15
percent. Additionally, the game Yoga for Wii(TM) that was released in
late fall 2009 and was initially expected to become a longseller, has
in recent months performed weak in sell-through.

Additionally, the intermediate financials for Q2 2010 will be
subjected to a comprehensive analysis by an auditor in order to
ensure that all relevant facts are reflected. To this end, the
auditor will also review the group financial statements 2009 with a
view to newly surfaced inconsistencies, in particular with respect to
correct period-end accruals.

Accordingly, the publication of the results for Q2 2010 has been
postponed until September 30, 2010, at the latest.

On the basis of such audited data, Franz Rossler, who was appointed
CEO of JoWooD in mid-may 2010, will adjust the company strategy with
a view to long-term profitability. Initial restructurings, intended
to improve internal processes, have already been implemented in areas
particularly important to the company's results. Additionally,
distribution efforts have been increased significantly.

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, ATX Prime, ViDX
Börsen: Berlin / free trade
Frankfurt / free trade
Stuttgart / free trade
München / free trade
Wien / official market