Conclusion of a significant agreement The Management Board of CITY INTERACTIVE S.A.
hereby communicates that on 16 August 2010 it concluded an agreement with THE FARM 51 Spółka z o.o. with its seat in Gliwice for the production and issuance of a new game under the working title “Alien Fear.”
This shooter-type game set in a science-fiction setting with elements of horror will be released for Xbox 360 and PlayStation3 video consoles and PCs. The game is planned to be released in 2011.
The provisions of the agreement do not depart from the generally applied terms for such agreements. The Agreements has been deemed significant as revenue generated from its sales may exceed 10% of the Company’s equity.
The subject agreement contains provisions relating to contractual penalties, whose value may exceed at least 10% of the estimated value of the agreement and the maximum amount has been agreed to amount to PLN 650,000.00 net.
Payment of contractual penalties does not constitute a waiver of the right to claim damages exceeding the amount of the stipulated contractual penalties.
