EIDOS TRADING UPDATE, DISMISSES BUYOUT
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[ May 20th 2004 ]

Eidos plc, one of the world’s leading publishers and developers of entertainment software, today provides an update on trading during the second half of the financial year to 30 June 2004. The initial shipments of Hitman: Contracts, released in the last week of April, have been broadly in line with management expectations. The title has reviewed well and has shipped approximately 1.5 million units to date. The title has also achieved number one rating status in the UK, France, Germany and the US during the first two weeks of launch.

However, the recent and unexpected softness of the games market, particularly in the US, is having a negative effect on the unit sales of Hitman: Contracts and will, therefore, adversely impact upon the Company’s financial performance for the full year. Based on overall sell-through rates to date, management has identified a potential shortfall exposure of c.700,000 units of previously anticipated re-orders that are now unlikely to materialise. Whilst the operating profit contribution from the re-orders would have been expected to be in the region of £9 million, the actual impact on the year-end outcome, while very significant, will depend upon a number of other factors, including the on-going sales of other titles.

The Company has two remaining titles scheduled for release prior to the end of the financial year, Thief: Deadly Shadows and ShellShock: Nam ’67. Thief is in manufacture for shipment on 25 May in the US and 11 June in Europe. ShellShock is in the approval process and is due to ship in the last week of the financial year as originally forecast. Eidos intends to announce its full year results for the current financial year in early September. The Company will keep the market informed in a timely manner should any material changes occur in the intervening period.

In the light of continuing media speculation concerning a possible approach to the Company, the Board can confirm that it has received no such approach and is not in discussions with any party concerning a possible offer.

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