CHICAGO – February 2, 2005 – Midway Games Inc. (NYSE: MWY), a leading developer and publisher of interactive entertainment software, today announced a multi-year licensing agreement with Epic Games giving Midway use of Epic's Unreal Engine 3 technology and tools for next generation console and PC game development. Unreal Engine 3 technology and tools are now in use at Midway's internal studios including: Midway's Chicago studio, the makers of NBA Ballers and the Mortal Kombat franchise; Midway's Austin studio, developers of Area 51; and Surreal Software, the creators of The Suffering.
This agreement with Epic furthers Midway's strategy to align itself with the top development technology and talent in the industry. The relationship also allows Midway to build on Unreal Engine 3 technology to create specific tools and assets that will be utilized across all Midway internal studios. This studio-wide effort is expected to be instrumental in the development and progression of major franchises as well as the creation of new game properties. The agreement also underscores Midway's commitment to the premium PC games market.
"Great next generation games will be defined by how far they push the envelope in terms of graphical prowess, evolved artificial intelligence and revolutionary online functionality beyond what gamers are currently experiencing," said David F. Zucker, president and chief executive officer of Midway. "Our obtaining the use of Unreal Engine 3 empowers us to begin today to produce great next generation content. Our internal studios are already in the process of creating incredible products with the Unreal Engine 3 technology in multiple genres."
Mark Rein, vice president of Epic Games agrees, "We are especially gratified that Midway, a major publisher committed to developing high quality games for both next generation console and PC platforms, in numerous styles and genres, came to us seeking the right to use Unreal Engine 3 as a basis technology for its enterprise."
"This relationship with Epic is key in our continued efforts to build Midway into a world class development organization," said Matt Booty, senior vice president of product development, Midway. "We want all of our studios to focus on creating great content and not on creating multiple technologies from scratch. The Unreal Engine 3 technology is a critical step towards this goal and combined with our own internal systems and additions, will allow Midway to maintain its leadership in quality development as we head into the next generation."
About Unreal Engine 3
The award-winning Unreal Engine is known for cutting-edge graphics and a best-of-breed toolset. Unreal Engine 3 is expected to maintain those features while adding massive world support, multi-processor support, next-generation console optimizations, and one of the most mature tool pipelines in the industry. Unreal Engine 3's new toolset is designed specifically to accelerate developers' productivity for ultra-complex, next-generation content. Additional information on Unreal Engine can be obtained at www.unrealteachnology.com.
About Epic Games
Epic Games Inc., based in Raleigh, NC and established in 1991, is a developer of cutting-edge computer and video games. The company is best known as the creator of hit PC 3D action games Unreal and Unreal Tournament, both award-winning blockbuster hits having each sold more than one million copies. Epic is also responsible for the Unreal Engine, which is the underlying technology for a wide range of games including, 2002 Console Game of the Year winner, Tom Clancy's Splinter Cell™ from Ubi Soft; PC Gamer's 2000 Game of the Year, Deus Ex from Ion Storm/Eidos; America's Army: Operations, from the United States Army, and Harry Potter and the Sorcerer's Stone (PC) from Electronic Arts. Additional information can be obtained through Epic's Web site at www.epicgames.com.
Headquartered in Chicago, IL with offices in San Diego, CA, Seattle, WA, Austin, TX , Los Angeles, CA, and London, UK, Midway Games Inc. (NYSE: MWY) is a leading developer and publisher of interactive entertainment software for all major video game systems. More information about Midway can be obtained at www.midway.com.
Unreal is a registered trademark of Epic Games, Inc. All other trademarks are the property of their respective companies. Midway has provided the www.epicgames.com and www.unrealtechnology.com links solely as a convenience for you. The information on these sites has been prepared by third parties, and Midway does not monitor, endorse or accept the responsibility for the content on non-Midway sites.
This press release contains forward-looking statements concerning future business conditions and the outlook for Midway Games Inc. (the "Company%") based on currently available information that involve risks and uncertainties. The Company's actual results could differ materially from those anticipated in the forward-looking statements as a result of these risks and uncertainties, including, without limitation, the financial strength of the interactive entertainment industry, dependence on new product introductions and the ability to maintain the scheduling of such introductions, the upcoming console platform transition and other technological changes, dependence on major platform manufacturers and other risks more fully described under "Item 1. Business - Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2003, and in the more recent filings made by the Company with the Securities and Exchange Commission