FOR IMMEDIATE RELEASE
AGOURA HILLS, Calif., November 10, 2005 -- THQ Inc., (NASDAQ: THQI) Paradox Entertainment Inc. and Conan Properties International, LLC today announced a worldwide, multi-year licensing agreement for THQ to develop interactive games based on Conan. The agreement covers development for all current and next-gen systems as well as PC, wireless and handheld platforms.
"THQ's proven success with high-profile licensed properties will ensure Conan games deliver an interactive experience worthy of a truly legendary character," said Fredrik Malmberg, Head of Licensing & Creative Affairs at Paradox Entertainment. "Developing next-gen console games is a huge commitment and we're happy to be working with one of the strongest companies in the video game industry."
"Combining the epic adventures and stunning environments found throughout the Conan Universe with next-gen video game technology will add a whole new chapter to Conan's rich history," said Germaine Gioia, vice president of licensing, THQ. "The agreement delivers a strong addition to our world class video game portfolio and will provide Conan's huge fan base and gamers worldwide with hours of thrilling entertainment."
Conan was created in the 1930's by Robert E. Howard, and has been a hugely successful fantasy character for more than 70 years, with over 12 million books featuring the character sold worldwide. Conan continues to be one of the most successful comic book licenses and will be entering an exciting new chapter when the franchise undergoes a major re-launch across all media worldwide.
About Paradox Entertainment AB
Paradox Entertainment AB owns, develops and licenses over one hundred mainly character-based properties among them Conan ® and Mutant Chronicles ®. Industries exploiting the company property portfolio include film, TV, book, comics, videogame, Internet/mobile/wireless, toys, apparel and more. The business is mainly conducted through the wholly owned subsidiary Paradox Entertainment Inc., based in Los Angeles, USA. Paradox Entertainment AB is being traded through Nordic OTC in Sweden (PDXE OTC, SE0000598054).
THQ Inc. (NASDAQ: THQI) is a leading worldwide developer and publisher of interactive entertainment software. The company develops its products for all popular game systems, personal computers and wireless devices. Headquartered in Los Angeles County, California, THQ sells product through its global network of offices located in the United States, United Kingdom, Austria, France, Germany, Netherlands, Spain, Korea and Australia. More information about THQ and its products may be found at < www.thq.com > and< www.thqwireless.com >.
THQ, THQ Wireless and their respective logos are trademarks and/or registered trademarks of THQ Inc.
The statements contained in this press release that are not historical facts may be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations, estimates and projections about the business of THQ Inc. and its subsidiaries (collectively referred to as "THQ"), including, but not limited to, expectations and projections related to the licensing agreement to develop interactive games based on Conan, and are based upon management's beliefs and certain assumptions made by management. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such forward looking statements, including, but not limited to, economic, competitive and technological factors affecting the operations, markets, products, and pricing of THQ. Readers should carefully review the risk factors and the information that could materially affect THQ's financial results, described in other documents that THQ files from time to time with the Securities and Exchange Commission, including its Quarterly Reports on Form 10-Q and Annual Report on Form 10-K for the fiscal period ended March 31, 2005, and particularly the discussion of risk factors that may affect results of operations set forth therein. Unless otherwise required by law, THQ disclaims any obligation to update its view on any such risks or uncertainties or to revise or publicly release the results of any revision to these forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.