Sony and Playlogic Extend Development Agreement
AMSTERDAM, THE NETHERLANDS, October 25, 2006: Playlogic Entertainment, Inc. (OTCBB: PLGC) today announced that its in-house studio, Playlogic Game Factory, extended its co-operation with Sony Computer Entertainment Europe Limited (SCEE). Both parties signed a first-party development agreement in March this year.
Playlogic Game Factory, based in Breda, the Netherlands, is a fully owned subsidiary of publisher Playlogic Entertainment, Inc. One of the two in-house teams will continue to work on an undisclosed project.
Rogier Smit, Executive VP of Playlogic, said, "We believe that SCEE's decision to continue the relationship with us clearly shows that Sony is very satisfied with the work we have done so far for them and that our internal studio is delivering the required AAA-quality."
About Playlogic:
Playlogic Entertainment, Inc. is an independent publisher of entertainment software for consoles, PCs, handhelds, mobile devices, and other digital media. Playlogic, established in early 2002, publishes game concepts across various genres. The company distributes its products worldwide through all available channels, online and offline.
Playlogic, who currently has approximately 75 employees, is listed on the OTC BB under the symbol "PLGC" and is headquartered in New York and Amsterdam. Its internal studio is based in Breda (The Netherlands).
Playlogic's portfolio includes games that are being developed by several teams at Playlogic Game Factory, Playlogic's in-house development studio based in Breda, as well as games developed by a number of studios throughout the world. Currently, 10 games on 13 platforms are under development, including "Age of Pirates: Captain Blood," "Ancient Wars: Sparta," "Infernal," "Xyanide Resurrection" and the "Red Bull Break Dance Game." "Knights of the Temple 2" and "Gene Troopers" have been released throughout Europe and will be released in the fourth quarter in the US.
Playlogic is always looking for additional, high-quality games and acquires products that can be exploited in the complete value chain of digital entertainment products from games at retail to mobile games and digital TV.
FORWARD-LOOKING STATEMENTS
This release contains statements about Playlogic's future expectations, performance, plans, and prospects, as well as assumptions about future events. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including without limitation, business and economic conditions and trends; fluctuations in operating results; reduced customer demand relative to expectations; competitive factors; and other risk factors listed from time to time in the company's SEC reports. Actual results may differ materially from our expectations as the result of these and other important factors relating to Playlogic's business and product development efforts, which are further described in filings with the Securities and Exchange Commission. These filings can be obtained from the SEC's website located at www.sec.gov. Any forward-looking statements are based on information available to Playlogic on the date of this release, and Playlogic assumes no obligation to update such statements.
FOR MORE INFORMATION
Playlogic Entertainment, Inc.
Esther Berger
Corporate Communication & IR Manager
T: +31 20 676 03 04
E: eberger@playlogicint.com
For further information about Playlogic please visit www.playlogicgames.com
SOURCE: Playlogic Entertainment, Inc.