Vivendi Universal Games Acquires High Moon Studios

January 5, 2006

VIVENDI UNIVERSAL GAMES ACQUIRES
HIGH MOON STUDIOS

LOS ANGELES –  – Vivendi Universal Games (VU Games) today announced that it
has completed the purchase of leading independent developer, High Moon Studios.
Under the agreement, VU Games will retain High Moon’s team of more than 100
development professionals, as well as rights to the studio’s intellectual
properties. John Rowe, president and CEO of High Moon, will continue to manage
the studio from its state-of-the-art facility located in Carlsbad, CA. Financial
terms of the transaction were not disclosed.

"VU Games and High Moon are already collaborating on a soon-to-be-announced
project based on a major entertainment license," said Bruce Hack, CEO of VU
Games. "Our acquisition of the studio is another major step forward in building
the company’s position as a leader in next generation console games."

Over the past year, High Moon earned numerous accolades for its development
accomplishments. In December, High Moon was named among the "Top 50 Technology
Innovators of 2005" by IT Week for applying Agile Methodology to its development
of next-generation games. The studio’s adoption of the innovative R&D method
also earned it a "2005 Workplace Excellence Award" from the San Diego chapter of
the Society for Human Resource Management. High Moon’s critically acclaimed
first-person shooter Darkwatch has been recognized with several art and
animation awards, including five Davey Awards, two Aurora Awards and a Telly.

"High Moon has assembled an experienced team of development professionals who
are passionate about creating compelling interactive entertainment for audiences
around the world," said John Rowe, president and CEO, High Moon Studios. "We are
happy to be a part of Vivendi Universal Games, and we believe that the
acquisition is a very positive step for the growth of our studio."