PRESS RELEASE:
Psygnosis Limited has reached agreement with Formula One Administration
Limited (FOA) (acting on behalf of itself and all the F1 Teams) which will
enable the relaunch of its Formula One 97 PlayStation game.
This is just part of a long term deal which covers Formula One 97 and
subsequent Formula One products through to the year 2001. It will give
Psygnosis the right to publish official product on all current and future
interactive formats worldwide. It also includes the right to continue to
publish the original Formula One game for another year.
The immediate effect of this agreement will be that current stocks of
Formula One 97, which had been withdrawn from retail in certain territories,
will be returned to retail outlets shortly.
Ian Hetherington, managing director of Psygnosis commented "We are pleased
that this matter is now resolved and we are able to get on with the business
of selling Formula One 97. I would like to thank all our retailers and
customers for their patience during these negotiations and to assure them
that we will do everything in our power to ensure that we meet the demand
for this product over the Christmas season. We are also very pleased that we
have concluded a long term deal with Formula One Administration Ltd
supported by all the Teams. We look forward to building on the success of
our Formula One products over the years with the support of FOA".