Development Agreement Sony Computer Entertainment Europe and Playlogic Game Factory SCEE and Playlogic continue collaboration with renewed First Party Development Agreement
Exhibit
99.1
PRESS
RELEASE
Development
Agreement Sony Computer Entertainment Europe and Playlogic Game
Factory
SCEE
and
Playlogic continue collaboration with renewed First Party Development
Agreement
(New
York /
Amsterdam, the Netherlands) October 31,2007 – Today, Playlogic
Entertainment, Inc. (OTCBB: PLGC) announced that it has signed its
third development agreement with Sony Computer Entertainment Europe Ltd.
The
project will be developed at Playlogic’s in-house studio Playlogic Game Factory
B.V. over a period of seven months with an option of extension of another
six
months. The scope and content of the project will remain undisclosed until
further notice by SCEE Ltd.
“Over
the past two
years we have build a great relationship with SCEE” says Playlogic Executive XX
Xxxxxx X. Xxxx, “We have solid development assets and resources at our disposal
at our in-house facility in the Netherlands and have the ability to deliver
quickly. Having received the opportunity to continue this relationship is
a
testimony of the work we deliver.”
Xxxx
Xxxx Managing
Director of Playlogic Game Factory B.V. comments:
”The
cooperation
between SCEE and Playlogic Game Factory has proven to be very successful.
We
deliver high quality products using flexible and innovative development
methodologies which enable us to develop innovative titles in close cooperation
with SCEE London Studio.”
About
Playlogic:
Playlogic
Entertainment, Inc. is an independent publisher of entertainment software
for
PCs, consoles, handhelds, mobile devices, and other digital media. Playlogic
distributes its products worldwide through all available channels, online
and
offline. Playlogic, who currently has approximately 75 employees, is listed
on
the OTCBB under the symbol "PLGC" and is headquartered in New York and
Amsterdam. Its internal game development studio is based in Breda (The
Netherlands).
Playlogic's
portfolio includes games that are being developed by several teams at the
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 with
approximately 300 people of external development staff. Currently, 10 games
on
12 platforms are in the works including “Officers” and “Age of Pirates: Captain
Blood” which will be published this year, and “Dragon Hunters” based on the
animated TV series and up-coming movie which will be published early next
year.
Recent world-wide releases include “Xyanide Resurrection,” “Obscure II,”
“Ancient Wars: Sparta,” "Infernal,” "Age of Pirates: Caribbean Tales," “World
Racing 2,” “Knights of the Temple 2” and “Xxxx Xxxxxxxx.”
Playlogic publishes quality
games, working with leading technology to produce digital
entertainment from concept to finished product.
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
website located at xxx.xxx.xxx. 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.
Xxxxxx
Xxxx /
Xxxxxx Xxxxx, Corporate PR & IR Department
T:
x00 00 000 00 00
F:
x00 00 000 00 00
E:
xxxxxx@xxxxxxxxxxxx.xxx
For
further information about
Playlogic, please visit the Corporate Center at xxx.xxxxxxxxxxxxxx.xxx
Visit
the Corporate Center at
xxx.xxxxxxxxxxxxxx.xxx
