Deal signed for 2.5 years co-operation to produce GBA titles

Playlogic takes over 49% of the shares of handheld specialist Engine Software

Amsterdam, 15 July 2003 - Today, game publisher and developer, Playlogic International, announced its take over of 49% of Engine Software B.V. shares. They furthermore signed a 2.5-year deal to co-operate with Engine Software in the production of 3 to 4 GameBoy Advance-titles per year. Both content from existing Playlogic-games and new concepts. The first GBA game to be published is Xyanide, Playlogic's Xbox Live title.

During the 2.5-year agreement, Playlogic and Engine Software plan to develop new projects as well as convert existing Playlogic titles. Playlogic's shoot-'em-up 'Xyanide' will be the first of these conversions. Release for this project is scheduled for Q4 2003 - shortly after 'Xyanide's' Xbox release.

All funding for these projects will come from Playlogic and development will take place at Engine Software. Playlogic International shall retain the intellectual rights to all titles. For Playlogic, the option to prolong their working relationship after the initial 2.5 years is included in the contract.

The production for the GameBoy Advance platform means Playlogic will now be publishing titles on five different platforms: GameBoy Advance, PS2, Xbox, PC and Mobile. Willem M. Smit, CEO of Playlogic International: "Engine Software is an experienced handheld game developer whose knowledge and experience is very important to us. Together with the deal Playlogic signed with Overloaded Pocket Media B.V. for mobile games, this deal is illustrative for Playlogic International becoming a worldwide multi-platform publisher. We are always looking for new initiatives and content."