Interplay Terminates Distribution Agreement with Vivendi Universal Games
Interplay Entertainment Corp. announced today it has terminated its distribution
agreement with Vivendi Universal Games (”Vivendi”).
Commenting on the announcement, Interplay Chairman and Chief Executive Officer
Herve Caen said, “In the interest of our company and its shareholders,
we had no choice but to terminate this agreement. After several notifications
to Vivendi of its failure to perform in accordance with the terms of our agreement
and in particular, in refusing to pay Interplay certain monies due following
our latest release, Lionheart, we still did not receive the payments owed to
us. We are currently evaluating several other distribution options. We fully
expect to release two of our strongest titles, Baldurs Gate: Dark Alliance 2
and Fallout: Brotherhood of Steel for Xbox and Playstation 2 in the fourth quarter.”
Interplay also announced it is considering legal action against Vivendi to
recover the payments it believes it is owed, as well as to address various other
claims as a result of the alleged failure of Vivendi to perform under the terms
of the agreement.
About Interplay Entertainment Corp.
Interplay Entertainment Corp. is a worldwide developer and publisher of interactive
entertainment software for both core gamers and the mass market. Founded in
1983, Interplay offers a broad range of products in the action/arcade, adventure/role-playing
game (RPG) and strategy/puzzle categories across multiple platforms, including
Sony PlayStation2, Microsoft Xbox, Nintendo GameCube and PCs. Interplay’s common
stock is publicly traded under the symbol IPLY:OB. For more information about
Interplay please visit our website www.interplay.com.
Titus Interactive was founded in 1985 by Hervé and Eric Caen. The company
quickly grew into one of the world’s leading multi-platform software developers
and publishers. Titus has developed a number of highly acclaimed games for both
PC and console. With offices in Paris, Cannes, Los Angeles, London, Hamburg,
Oslo and Tokyo, the company has established an extensive distribution network.
For the fiscal year 2002/2003 ending June 30, 2003, Titus Interactive Group
reported group net revenue of EUR 46.6million.
Titus trades on the European exchange Euro NM under the following codes: TITP.LN,
Euroclear: 5012.
More comprehensive information on Titus Interactive and its products is available
through its worldwide web site at http://www.titusgames.com.
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