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Next-generation game developers, Just Add Monsters, saved by Ninja Theory

FOR RELEASE ON 16th NOVEMBER 2004:

Cambridge, England, 16 November 2004: Just Add Monsters Ltd (JAM), creators of Kung Fu Chaos and one of the first developers to tackle next-generation development has been rescued to become Ninja Theory Ltd.

Last month, all of the Argonaut Games PLC subsidiaries were forced into administration including JAM. Together with Jez San OBE, the former directors of JAM have bought back the business including all next-generation technologies; the Heavenly Sword intellectual property; and the entire JAM team. The UK's newest independent developer has been christened Ninja Theory Ltd. It is run by its original founders with no debts, fresh capital and a next-generation game that continues to wow all who see it in action. Jez San has joined the board as Non-executive Director.

Development on Heavenly Sword started early in 2003 a full year or two before most developers started experimenting with next-gen technology. Nina Kristensen now the Chief Development Ninja commented, "We have gone through hell tackling the creative, technological and business challenges of next-gen game development. But we've come out of the worst intact and it feels great to be a truly independent company once again."

Tameem Antoniades, Chief Design Ninja explained, "We made a strategic decision to start very early and craft a gaming experience worthy of the 'next-gen' moniker. We really want to make something pretty damn special rather than same old crap with shiny new graphics."

Mike Ball, Chief Technology Ninja at Ninja Theory added, "Industry insiders still tell us that there is still nothing out there that compares to the playable prototype we first showed them last May. I hope it's true as it shows that a small determined team can still achieve big things."

ABOUT Ninja Theory Ltd

Ninja Theory believes that the next-generation of games consoles offer an opportunity to elevate the games experience into a true artistic entertainment medium, one that can rival film and literature. With a team of 23, which is set to grow rapidly, Ninja Theory is focused exclusively on a next generation game called Heavenly Sword which has been in development for over a year and a half.

ABOUT the Ninja Theory team

In March 2000 three former Sony Computer Entertainment professionals Tameem Antoniades, Mike Ball and Nina Kristensen founded Just Add Monsters Ltd (JAM). JAM was acquired by Argonaut Games PLC in October 2000 to become a wholly-owned subsidiary. Their first game, Kung Fu Chaos, was developed for Microsoft Games Studios exclusively for the Xbox and released on time, on budget and to critical acclaim in early 2003. Since then, they have been developing a next-generation game called Heavenly Sword. In October 2004, the Directors of JAM and Non Executive Director Jez San OBE acquired the business to form Ninja Theory Ltd. What is the "Ninja Theory"? It is that "Ninjas Make Games Better. FACT"

For further information contact:

Nina Kristensen

Co-founder, Chief Development Ninja

Ninja Theory Ltd

+44 (0)1223 422 130

nina@ninjatheory.com

www.ninjatheory.com

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