MindArk PE (“MindArk”), owner of the Entropia Universe online game (“Entropia”), plans an initial public offering (IPO). MindArk is in the process of preparing for its upcoming IPO, which will likely include an offering of newly issued registered shares as well as existing shares. MindArk intends to use the proceeds from the newly issued shares to implement its growth strategy, in particular the expansion of its market position and pursuit of potential acquisition opportunities.

Jan Welter, CEO of MindArk, said: “As a publicly traded company MindArk will be able to
acquire intellectual property and make strategic acquisitions that will enhance and expand
Entropia Universe as the leading Virtual platform for Entertainment, Commerce, Education and
Avatar Development. The IPO will also give us an opportunity to substantially expand our
development team and to further develop our many current virtual systems and user tools
employed by users to engage in commerce, as well as to develop new ones”.
MindArk has appointed Credit Suisse to help the company evaluate its strategic alternatives
including planning for the IPO.