Agoura Hills, CA, and Shanghai, China, July 19, 2007– THQ Inc. (NASDAQ: THQI) and Shanda Interactive Entertainment Limited (NASDAQ: SNDA) today announced a co-development and publishing agreement for an online-only version of THQ's critically acclaimed 3D Real-Time Strategy (RTS) PC game Company of Heroes™. Company of Heroes Online™ (working title) is currently being co-developed by THQ studio Relic Entertainment, the creators of Company of Heroes, and Shanda. As part of the agreement, Shanda has obtained the exclusive license to operate Company of Heroes Online in Mainland China, and THQ and Shanda will also share the benefits of the game’s potential release outside that region. Company of Heroes Online is scheduled for release across Mainland China in 2008.
The original Company of Heroes was released to broad critical acclaim in 2006. The game is set in World War II and brings to life the journey of the men of Able Company as they fight across Europe. The RTS hit has won more than 37 awards to date, including six“PC Game of the Year” and 12“Strategy Game of the Year” awards. In addition, the game is listed in more than 10“Top 10 Games of 2006” lists. Company of Heroes Online is set to deliver a persistent Company of Heroes experience for online gamers where players will be able to build their character up from private to general through new multiplayer cooperative missions, gameplay modes, and player versus player combat. The teams at Relic Entertainment and Shanda are joining together to create a persistent RTS experience across the expansive battlefields of World War II Europe.
“This new deal is a significant milestone for THQ as it supports two significant growth drivers for the company - building our product offering across Asia and expanding into new digital revenue streams,” said Brian Farrell, president and CEO of THQ.“Shanda’s leadership position in the online space makes them the ideal partner to serve as both co-developer of Company of Heroes Online and operator of the game across China.”
“We are excited to cooperate with THQ in bringing Company of Heroes Online to China, where there is an extensive base of RTS fans. Company of Heroes remains one of the greatest RTS titles ever created, and we believe this type of experience promises a tremendous following in the online space,” said Tianqiao Chen, Chairman and CEO of Shanda.“Teaming up with THQ is an important step as we continue to seek co-development and benefit-sharing opportunities with world-renowned game developers. Our ability to attract international partners is proof of the strength of Shanda’s operational and R&D abilities, and it is an integral part of our overseas business development strategy. We are confident that combining THQ's strong game development experience with Shanda's powerful operating platform and expertise in the online game market will ensure that Company of Heroes Online becomes a great success.”
About Shanda Interactive Entertainment Limited
Shanda Interactive Entertainment Limited (Nasdaq: SNDA) is a leading interactive entertainment media company in China. Shanda offers a portfolio of diversified entertainment content including some of the most popular massively multi-player and casual online games in China, along with online chess and board games, network PC games and a variety of cartoons, literature works and music. Shanda's interactive entertainment platform attracts a large and loyal user base, of which more and more is coming from homes. Each user can interact with thousands of others and enjoy the interactive entertainment content that Shanda provides. Interaction enriches your life. For more information about Shanda, please visit http://www.snda.com.
THQ Inc. (NASDAQ: THQI) is a leading worldwide developer and publisher of interactive entertainment software. The companydevelops 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 throughout North America, Europe and Asia Pacific. More information about THQ and its products may be found at www.thq.com and www.thqwireless.com. THQ, THQ Wireless, Relic Entertainment, Company of Heroes and their respective logos are trademarks and/or registered trademarks of THQ Inc.
Safe Harbor Statement for THQ
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 Co-Development and Publishing Agreement with Shanda Interactive Entertainment Limited and the release of Company of Heroes Online, and are based upon management’s current 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, business, competitive, economic, legal, political and technological factors affecting our industry, operations, markets, products or pricing. 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, 2007, and particularly the discussion of risk factors 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.
Safe Harbor Statement for Shanda
This announcement contains forward-looking statements that are based on current expectations, assumptions, estimates and projections about the companies and the industry. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to the statements regarding the results yielded by the cooperation between the parties, the release date of Company of Heroes Online in China, game features included in the commercial release version of Company of Heroes Online and the future appeal of Company of Heroes Online to end users in China. These forward-looking statements involve various risks and uncertainties. Although the companies believe that their expectations expressed in these forward-looking statements are reasonable, they cannot assure you that their expectations will turn out to be correct. Important risks and uncertainties could cause actual results to be materially different from expectations include but not limited to the risk that the cooperation fails to yield the intended results, there are delays in the development of Company of Heroes Online, the results fail to be commercialized or the commercialized results fail to meet the expectations of end users and the risks set forth in Shanda's filings with the U.S. Securities andExchanges Commission, including Shanda's annual report on Form 20-F.