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Warthog PLC (WHOG)

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Wednesday 05 February, 2003

Warthog PLC

Acquisition

Warthog PLC
05 February 2003



For immediate release
5th February 2003


                                  WARTHOG PLC


                           ('Warthog' or 'the Group')


             WARTHOG ACQUIRES FEVER PITCH STUDIOS IN AUSTIN, TEXAS


Warthog plc, the interactive entertainment group, today announces that it has
acquired the American development studio, Fever Pitch, based in Austin, Texas.
The business has been acquired for an initial consideration of £183,000
($300,000) to be satisfied by the issue of 973,015 new ordinary Warthog shares
(the 'Initial Consideration Shares').  Further Warthog shares will be issued for
each financial period up to 31 March 2005 dependent on Fever Pitch achieving
annual pre-tax profits in excess of $100,000 for each financial period.  The
acquisition is immediately cash flow and earnings enhancing.



The Fever Pitch team, led by Eric Peterson, previously worked with Warthog on
Starlancer, an award-winning first-person space combat game published by
Microsoft.  The business is self-funding and already has a contract to develop a
top title game associated with a well-known franchise, with a premium publisher.
Fever Pitch will be re-branded as Warthog Texas, with Eric Peterson remaining
as Studio President.



Commenting on the acquisition, Ashley Hall, CEO of Warthog said:



' This is a significant acquisition for Warthog. Most of our customers are
American and it is strategically important for us to have a presence in the US.
Fever Pitch matched our operational as well as strategic criteria.  Eric and his
team of talented developers have a successful track record and strong links to
major publishers. I expect this acquisition to be earnings enhancing for Warthog
immediately.  I welcome our American counterparts and hope the future of Warthog
Texas grows from strength to strength.'



Eric Peterson, Studio President added:



'Fever Pitch was founded with a commitment to developing products of the highest
quality, and with an attention to detail unparalleled in the industry. It is an
honour to be joining a company that shares these same ideals. Warthog and Fever
Pitch Studios both have a proven track record of success and together we will
continue to lead the way in the world of interactive gaming. '



Application will be made for the Initial Consideration Shares to be admitted to
trading on AIM.  Admission is expected to become effective on 11th February
2003.




-ENDS-


Enquiries:

Ashley Hall, CEO, Warthog plc                          0161 608 1200


Andrew Gething                                         0161 608 1200
Corporate Development - Warthog plc


David Simonson or Clare Maciocia                        020 7606 1244
Merlin Financial Communications





Warthog



Warthog plc is one of Europe's leading independent games software developers.
The Company, based in Manchester, UK was established in 1997 and has been
profitable since creation.  Warthog prides itself on its highly experienced 230
+ strong development team, whose combined experience covers more than 1500 games
titles across all major platforms and most games genres.



At present, the Company is working with numerous high profile licensees to
develop video game versions of such entities as Robot Wars, Looney Tunes: Back
in Action, Animaniacs and X-Men as well as its own game creations Mace Griffin
Bounty Hunter and X10.  Further to developing games across all platforms,
Warthog retains strong relationships with major international publishers across
the industry, including THQ, Electronic Arts, Activision, Universal Studios,
Warner Bros, SCi, BBC and Infogrames.  Warthog's first mobile game was
successfully published in 2001.



Warthog plc successfully floated on the Alternative Investment Market on the 1st
February 2001.








                      This information is provided by RNS
            The company news service from the London Stock Exchange                                                                                                                                            

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