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EIDOS CONCLUDES IO PURCHASE PHASE ONE
Copyright 2004 www.tombraiderchronicles.com

[ April 1st 2004 ]

Following the Company's conditional exchange of contracts announcement of 4 March 2004, and all conditions precedent having been satisfied, the Board of Eidos plc today announces that it has completed part one of the acquisition of the entire issued and to be issued share capital in IO Interactive, representing a 90.1% interest.

The initial consideration payable by the Company is GBP 20.6 million comprising GBP 18.6 million in cash and 1,511,509 new Eidos Ordinary shares, credited as fully paid, ranking pari passu with the existing issued Ordinary shares in the Company. Application has been made to the Financial Services Authority and the London Stock Exchange plc for the said Ordinary shares to be admitted to the Official List and to trade on the London Stock Exchange. Admission is expected to be granted on 7 April and, if granted, trading in these shares will commence on 8 April 2004.

Part two of the acquisition, which involves the Company's compulsory acquisition of the remaining interest in IO Interactive from the residual shareholders (pursuant to Danish legislation), will commence today. This part of the transaction is expected to be completed by 30 June 2004 for a total cash consideration of GBP 2.4 million.

Eidos is the largest video games publisher and developer of entertainment software in the UK. It has publishing operations across Europe (France, Germany, Spain and the UK) and in the US, Japan and Australia. It also has significant development studio expertise, both internal and external, in Europe and the US.

IO Interactive was established in September 1998 as a joint venture between Nordisk Film & TV A/S and the game developer Reto-Moto. Based in Copenhagen, IO Interactive develops advanced 3D computer games for the global market. Using proprietary technologies, IO products are represented on all major platforms. The first title Hitman: Codename 47, a third-person action game, was released in November 2000. The Hitman franchise is now well established as one of the industry's biggest original intellectual properties.

Eidos plc is a public limited company registered in England (number 2501949). Its Ordinary shares are listed on the London Stock Exchange (ticker: EID.L) and, in the form of American Depositary Shares, on the NASDAQ National Market (symbol: EIDSY). Further information on the Company can be found at www.eidos.com.

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