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Mu Online Philippines - Offiicially announced by WebZen @ E3!
WebZen the creator of Mu Online has officially announced the partnership with Mobius Online Games, Inc. last E3.

Read the news:
(sources: Laibcoms.com; Holy Order of the Light)

- License fee of USD 300,000 and 25% of total sales in running royalty

- Webzen adds fifth country to overseas operations, in addition to China, Taiwan, Japan and Thailand

LOS ANGELES, May 13 /Xinhua-PRNewswire/ -- At the 2004 Electronic Entertainment Exposition ("E3"), Webzen Inc. announced today that it has signed a license agreement with Mobius Online Games to expand the service of its flagship title "MU" into the Philippines. Under the terms of the license agreement, Webzen will receive an upfront license fee of USD 300,000 in addition to on-going royalty payments of 25% of total sales in the Philippines.

Mobius Online Games is a recognized game publisher in the Philippines, well-known for its innovative customer service tools. Founder David Foote is a developer with extensive experience in working with leading US game developers and he has over ten years of experience in managing a software development company.

"Since the launch of our Global Server, we have seen an increasing number of users from the Philippines accessing our game and we are optimistic about the market potential. We intend to work closely with our new partner in expediting the official launch of MU in the Philippines," said Nam Ju Kim, the CEO of Webzen.

Private Securities Litigation Reform Act Safe Harbor Statement Except for the historical and present factual information contained herein, the matters set forth in this press release, including statements as to the expected benefits of the license agreement, and other statements identified by words such as "expects," "projects," "plans," and similar expressions are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward- looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including the possibility that the anticipated benefits from the contract cannot be fully realized, the impact of competition and other risk factors relating to our industry as detailed from time to time in each of Webzen Inc.'s reports filed with the SEC. Webzen Inc. disclaims any responsibility to update these forward-looking statements.

Grace Lee

Investor Relations



SOURCE Webzen Inc.


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