PRESSEMITTEILUNGEN

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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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07.01.2011

The management board of JoWooD Entertainment AG announces that all efforts towards restructuring of capitalization concerning outside capital as well as equity capital had to be considered as failed on 06/01/2011.

On the basis of this fact, material insolvency occurred with this date.

Therefore today, JoWooD Entertainment AG applied for a procedure of capital reorganization at the Commercial Court Vienna in accordance with Art. 167 IO/ Insolvency Statute.

Bond creditors of the 10% bond 2007-2011 (ISIN: AT0000A05TV0) are asked to report directly to the company (see queries reference) to be able to coordinate their rights.

The management board assumes that negotiations with creditors and possible investors can be positively conducted and finalized within 90 days and thus continuation of the company can be assured.

end of announcement euro adhoc
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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

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Adhoc, Aim, Brock, Capitalization, Continuation, Creditors, Eans, Equity Capital, Franz Rossler, Ing, Insolvency, Investor Relations, Jowood, Management Board, Mid Market, Negotiations, Philipp, Reorganization, Restructuring, Vienna