JOWOOD TERMINATES DEVELOPMENT AGREEMENT WITH PERCEPTION
Rottenmann, Austria, 5th of August 2005; JoWooD regrets to be forced to cancel the development agreement with Perception, the Australian developer currently responsible for the Stargate-SG1: The AllianceTM license title. "The title in its current form, initially scheduled for an October 2005 release, does satisfy neither our quality requirements nor the fans expectations. We will not release anything that does not do justice to this well known license" says Albert Seidl, CEO JoWooD Productions Software AG. "In recent months we have invested a lot of time and resources in helping Perception finish the development, but we now simply have lost confidence in their ability to finish this project in time and sufficient quality."
Following the termination JoWooD has asked for repayment of their investment in development and further expenses.
According to our reading of the contract the rights to the title as well as the source code are transferred to JoWooD". After delivery of the code and assets JoWooD will review the possibility of seeking out developers if it is economically viable to finish the title" reports Michael Paeck, Executive Producer for JoWooD Productions Software AG. "We are, however, not prepared to release anything but a top quality title. Fans of the show as well as gamers would not accept anything less. There are several options to consider, among them potentially moving to next-gen consoles for the title."
JoWooD Productions Software AG
Shares of the JoWooD Productions Software AG are traded at the vienna stock exchange, JoWooD is one of the leading publishers of computer- and videogames. JoWooD developes and publishes state-of-the-art entertainment software for all major existing and coming systems. JoWooD`s games are distributed in all territories by a worldwide net of distribution partners. Please visit the homepage www.jowood.com for further information.
About MGM Interactive
MGM Interactive, a unit of Metro-Goldwyn-Mayer Inc. (NYSE: MGM), manages business development and production of interactive products for a variety of multimedia platforms, as well as talent and developer relationships. MGM Interactive's upcoming games include GoldenEye: Rogue AgentTM published by Electronic Arts from the James Bond game franchise, Rocky LegendsTM from Ubisoft, the next console game in the smash hit Rocky game franchise, Stargate SG-1TM from JoWooD Productions., based on the highly rated hit television series, and mobile phone games and downloads for Pink Panther, Rocky and Agent Cody Banks. For more information, visit www.mgm.com.
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