EIDOS RESPONDS TO SHARE MOVEMENT
Copyright 2005 Eidos Plc

[ January 7th 2005 ]

The Board of Eidos has noted the recent rise in the Company's share price. Although, as described below, discussions with potential offerors are continuing, the Board is not aware of any particular reason to justify this movement.

Since the last statement at the AGM, the Board has continued to conduct discussions, including detailed due diligence, with potential acquirors of the Company with a view to securing an offer. On the basis of these recent discussions, the likelihood and extent of any premium achievable to the market price prevailing before the recent speculative movements is unclear. Nevertheless, the Board remains committed to a sale of the Company in the best interests of its shareholders and will continue to pursue the discussions still under way with a view to securing an offer as soon as possible. However, there can be no assurance that these discussions will result in an offer being made nor as to the level of any such offer.

As previously reported the Company has a significant release line-up scheduled for the second half of FY05 and is reliant on the performance of those releases to reverse its expected substantial losses in the first half. The timing of the release schedule will lead to a working capital requirement in the second half which is expected to reverse rapidly as cash from game sales is received in due course. The Board will respond to this temporary requirement through the use of normal working capital resources and techniques.

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