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Flagship Studios And HanbitSoft Announce PingO A Joint Venture To Support The Online Component For Hellgate™: London

Partner to digitally distribute, host and manage online play of highly anticipated role-playing game

FOR IMMEDIATE RELEASE

SAN FRANCISCO, Calif., (August 17th, 2006) Flagship Studios and HanbitSoft, Inc. have announced a new joint venture called Ping0, LLC which will manage all aspects of hosting online games. Ping0 recently entered an agreement with NAMCO BANDAI Games America to digitally distribute, host and manage the online component to Flagship's highly anticipated title, Hellgate: London.

"Supporting Hellgate: London is just the beginning for Ping0," said Bill Roper, CEO and co-founder of Flagship Studios. "We fully expect Ping0 to both handle the online components and digitally distribute all of Flagship's future titles. The company will also provide publishers and developers that want to bring their games online with a solution proven by one of the most highly anticipated titles in the industry."

The joint venture between Flagship Studios and HanbitSoft represents the strong commitment to online gaming shown by both companies from a development and business standpoint.

"Through Ping0, we will offer a turn-key solution for developers and publishers developing online games, from sophisticated MMOs to casual games," said HanbitSoft Executive Vice President Tony Park. "Additionally, we are extremely excited about bringing our own titles to new markets through this joint venture."

The online component created by Ping0 is designed to take full advantage of the latest technologies while offering a solution for bringing many different styles of games into the online arena. The company also provides hosting and management solutions and will be the group responsible for creating the online gaming destination for Hellgate: London.

About Flagship Studios

Flagship Studios is a creator of innovative entertainment software, designing games that focus on ease of play, replayability, and fun. The studio was formed in 2003 by former executives and developers from Blizzard North® and represents the creators of the worldwide, best-selling Diablo® franchise. With members that are renowned within the gaming industry, Flagship Studios embodies a team that has worked together for over a decade and have numerous #1-selling games and multiple Game of the Year awards to their credit. For more information about Flagship Studios log onto www.flagshipstudios.com or contact Tricia Gray at tgray@flagshipstudios.com, (415)-489-1419.

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