Ubisoft unveils its 2005-2006 product catalog and adds to its financial prospects

Ubisoft | Paris, France - March 16, 2005 - Ubisoft, one of the world's leading video game publishers, is pleased to announce its product catalog for fiscal year 2005-2006 (ending March 31, 2006) and provide additional information on its financial prospects.

First semester: four major launches, including Tom Clancy's Rainbow Six Lockdown^TM

In light of strong sales for titles launched over the past few months as well as the high number of orders placed for blockbusters scheduled to hit the market by the close of fiscal year 2004-2005 (on March 31st), Ubisoft management has decided to release Tom Clancy's Rainbow Six Lockdown^TM in the first half of fiscal year 2005-2006, rather than in March 2005. This title, which is ready for launch, will thus boost the beginning of fiscal year 2005-2006 with estimated sales of 1.5 to 2 million units.

In addition to Tom Clancy's Rainbow Six Lockdown^TM, the first six months will see the release of three other major titles: Far Cry Instincts^TM on consoles, Star Wars^®: Revenge of the Sith^TM for portable consoles and 187 Ride or Die^TM, a new brand in the urban street-racing segment.

Third quarter: Peter Jackson's King Kong and Brothers in Arms Road to Hill 30^TM will join Tom Clancy's Ghost Recon^® and Prince of Persia^® for an explosive holiday season

While Tom Clancy's Ghost Recon^® and Prince of Persia^® will attempt to break the sales records achieved during the 2004 holiday season, Peter Jackson's King Kong is clearly shaping up to be one of the season's major blockbusters. These titles will be supplemented by a new chapter of Brothers In Arms, which has, in March, established itself as the benchmark brand in the World War II shooting-game segment.

Fourth quarter: new adventures for Tom Clancy's Splinter Cell^® and three new brands

With Killing Day (working title), an FPS specifically designed for next-generation consoles, Ubisoft plans to demonstrate once again its technological lead and highlight the capabilities of the new consoles. The group will also mark its entry into the sports segment with a basketball game (And 1^TM) and reinforce its presence in the strategy segment with two games under the Might & Magic brand.

32 products will be launched in total during fiscal year 2005-2006, including three for Nintendo DS^TM, five for Sony's new PlayStation^® Portable console (PSP^TM) and four for the new next-generation console from Microsoft.

Revised prospects for fiscal years 2004-2005 and 2005-2006

Taking into account the postponement of Tom Clancy's Rainbow Six Lockdown^TM, Ubisoft should register sales over 215 million for the fourth quarter of 2004-2005 while maintaining an annual operating income objective of 40-45 million according to French accounting standards and 38-43 million in pro-forma figures.

Indeed the high volume of sales for recent titles will generate additional gross margin that should fully compensate this delay. Net profit excluding extraordinary items (before amortization of goodwill) should amount to 18-22 million according to French accounting standards and 17-21 million in pro-forma figures. Available net cash flow before acquisition expenditures should equal 30 million, as opposed to the +10 million initially projected.

For fiscal year 2005-2006, given the quality of its game portfolio, Ubisoft's previously stated objectives remain unchanged:

- 12% increase in sales at constant exchange rates.

- Operating income of more than 55 million according to French accounting standards.

As a result of these projections and the seasonal nature of sales, Ubisoft is expecting a net profit excluding extraordinary items (before amortization of goodwill and business assets) of over 28 million according to French accounting standards and available net cash flow before acquisition expenditures of more than 40 million.

"Ubisoft is ending 2004-2005 with outstanding results thanks to the successful launches of the Brothers in Arms brand, which has become the undisputed benchmark in its category in just one installment, and Tom Clancy's Splinter Cell^®, which has received rave reviews. For the first time in the video game industry, the Official Xbox^® Magazine in the United States awarded a score of 9.9/10 to the blockbuster Tom Clancy's Splinter Cell Chaos TheoryTM. This rating, which recognizes a strategy based on quality and creativity, allows us to reaffirm our studios' standing among the best in the world," declared Yves Guillemot, president and CEO of Ubisoft. "Fiscal year 2005-2006 should turn out to be another record year right from the first quarter, with major product launches, an even richer game portfolio and an outlook of strong growth and increased profitability. Ubisoft is once again proving its ability to win market share and create value."

Notes:

*Net free cash flow is defined as the net cash flow arising from business operations decreased by investments related to the operating cycle (with the exclusion of financial investments and those relating to external growth).

According to US GAAP pro forma accounting standards, internal R&D expenses are posted as operating expenses.

Disclaimer: This statement may contain financial data evaluated, information on future projects and transactions and future economic results/performance. Such valuations are provided for estimation purposes only. They are subject to market risks and uncertainties and may vary significantly with the actual results that shall be published. The financial data evaluated have been presented to the board of directors and have not been audited by the Auditors. [Additional information is specified in the last Ubisoft Background Paper filed on September 28, 2004 with the financial markets authority].

® Ubisoft Entertainment. All Rights Reserved. Splinter Cell, Splinter Cell: Pandora Tomorrow, Splinter Cell Chaos Theory, Sam Fisher, Ghost Recon, Far Cry, Far Cry Instincts, 187 Ride or Die, Ubisoft and the Ubisoft logo are trademarks of Ubisoft Entertainment in the US and/or other countries.

® Red Storm Entertainment. All Rights Reserved. Rainbow Six, The Settlers, The Settlers Heritage of Kings, Red Storm, and Red Storm Entertainment are trademarks of Red Storm Entertainment in the U.S. and/or other countries. Red Storm Entertainment, Inc. is a Ubisoft Entertainment company.

® 2004 Ubisoft Entertainment. Based on Prince of Persia^® created by Jordan Mechner. All Rights Reserved. Prince of Persia and Prince of Persia Warrior Within are trademarks of Jordan Mechner used under license by Ubisoft Entertainment.

® 2004 Ubisoft Entertainment. All Rights Reserved. Cold Fear, Ubisoft and the Ubisoft logo are trademarks of Ubisoft Entertainment in the US and/or other countries. Developed by Darkworks.

® 2004 Gearbox Software, L.L.C. All rights reserved. Published and distributed by UBISOFT Entertainment under license from Gearbox Software, L.L.C. Brothers In Arms Road to Hill 30 is a trademark of Gearbox Software and is used under license.

® 2005 Ubisoft Entertainment. All Rights Reserved. AND 1^®, Mix Tape ^®, are trademarks of AND 1. Ubisoft and the Ubisoft logo are trademarks of Ubisoft Entertainment in the US and/or other countries.

® 2002-2005 Ubisoft Entertainment. All Rights Reserved. Heroes, Heroes of Might and Magic, Ubisoft and the Ubisoft logo are trademarks of Ubisoft Entertainment in the U.S. and/or other countries.

Universal Studios's King Kong movie ® Universal Studios. Licensed by Universal Studios Licensing LLLP. All Rights Reserved.

LucasArts and the LucasArts logo are registered trademarks of Lucasfilm Ltd. ® 2004 Lucasfilm Entertainment Company Ltd. or Lucasfilm Ltd. & ^® or TM as indicated. All rights reserved.

® Red Storm Entertainment. All Rights Reserved. Rainbow Six, The Settlers, The Settlers Heritage of Kings, Red Storm, and Red Storm Entertainment are trademarks of Red Storm Entertainment in the U.S. and/or other countries. Red Storm Entertainment, Inc. is a Ubisoft Entertainment company.

® 2004 Ubisoft Entertainment. Based on Prince of Persia^® created by Jordan Mechner. All Rights Reserved. Prince of Persia and Prince of Persia Warrior Within are trademarks of Jordan Mechner used under license by Ubisoft Entertainment..

D'ni ^TM, Cyan^®, and Myst^® are trademarks of Cyan, Inc. and Cyan Worlds, Inc. under license to Ubisoft Entertainment. Mac is a registered trademark of Apple Computer, Inc.

Microsoft, Xbox, the Xbox Logos and Xbox Live are either registered trademarks or trademarks of Microsoft Corporation in the U.S. and/or in other countries.

and "PlayStation" are registered trademarks of Sony Computer Entertainment Inc. All Rights Reserved.

®2005 Nintendo. The Nintendo DS logo is a trademark of Nintendo. NINTENDO, GAME BOY ADVANCE, NINTENDO GAMECUBE AND THE NINTENDO GAMECUBE LOGO ARE TRADEMARKS OF NINTENDO.

All other trademarks are the property of their respective owners.

Universal Studios' King Kong movie ® Universal Studios. Licensed by Universal Studios Licensing LLLP. All Rights Reserved

® 2005 Ubisoft Entertainment. All Rights Reserved. America's Army, America's Army : Operations, America's Army: Special Forces; Empower Yourself, Defend Freedom, The Official U.S Army Game and U.S. Army are trademark or registered trademark of the United States Army in the United States and/or other countries and used under license from the United States Army. Rise of a Soldier, Ubisoft and the Ubisoft logo are trademarks of Ubisoft Entertainment in the US and/or other countries.

About Ubisoft:

Ubisoft is a leading producer, publisher and distributor of interactive entertainment products worldwide. It is the fastest growing company in the videogame industry and has grown considerably through its strong and diversified line-up of products and partnerships. Ubisoft has offices in 21 countries and sales in more than 50 countries around the globe. It is committed to delivering high-quality, cutting-edge videogame titles to consumers. Ubisoft generated revenue of 508 million for the 2003-2004 fiscal year, an increase of 22.5% over the previous fiscal year at constant exchange rates. To learn more, please visit www.ubisoftgroup.com.

Products for fiscal year 2005-2006

Non exhaustive list

TITLES - Platform

Lumines^TM - PSP^TM

Bomberman DS^TM - Nintendo DS^TM

Bomberman Hardball^TM - Playstation^®2

Star Wars^®: Revenge of the Sith^TM Nintendo DS^TM

Star Wars^®: Revenge of the Sith^TM - GameBoy advance

Tom Clancy's Rainbow Six Lockdown^TM - Playstation^®2

Tom Clancy's Rainbow Six Lockdown^TM - Xbox^®

Tom Clancy's Rainbow Six Lockdown^TM - GameCube^TM

Tom Clancy's Rainbow Six Lockdown^TM - PC

Q1 FY05-06

Lunar Genesis - Nintendo DS^TM

AA Rise of a Soldier^TM - Xbox^®

AA Rise of a Soldier^TM - Playstation^®2

Tom Clancy's Ghost Recon^® 2 mission pack - Xbox^®

Far Cry Instincts^TM - current console

World War II Squadron (working title) - Xbox^®

The Settlers^® Heritage of KingsTM add on - PC

Prince of Persia Warrior Within^TM - PSP^TM

187 Ride or Die^TM - Xbox^®

187 Ride or Die^TM - Playstation^®2

187 Ride or Die^TM - PC

187 Ride or Die^TM - GameCube^TM

Myst^® V : End of Ages - PC/Mac

Q2 FY05-06

Alexandra Ledermann 6 - PC

And1^TM - Playstation^®2

And1^TM - Xbox^®

New chapter of Brothers In Arms^TM - PC

New chapter of Brothers In Arms^TM - Playstation^®2

New chapter of Brothers In Arms^TM - Xbox^®

Far Cry add on^TM - PC

Tom Clancy's Ghost Recon^® 3 - GameCube^TM

Tom Clancy's Ghost Recon^® 3 - PC

Tom Clancy's Ghost Recon^® 3 - Playstation^®2

Tom Clancy's Ghost Recon^® 3 - Xbox^®

Tom Clancy's Ghost Recon^® 3 - next generation consoles

Peter Jackson's King Kong - GameBoy advance

Peter Jackson's King Kong - PC

Peter Jackson's King Kong - Playstation^®2

Peter Jackson's King Kong - PSP^TM

Peter Jackson's King Kong - Xbox^®

Peter Jackson's King Kong - Nintendo DS^TM

Peter Jackson's King Kong - GameCube^TM

Peter Jackson's King Kong - next generation consoles

Prince of Persia 3^TM - GameBoy advance

Prince of Persia 3^TM - GameCube^TM

Prince of Persia 3^TM - PC

Prince of Persia 3^TM - Playstation^®2

Prince of Persia 3^TM - Xbox^®

Prince of Persia Warrior Within^TM - Nintendo DS^TM

The Settlers^® mission pack - PC

Q3 FY05-06

Silent Hunter^TM 4 - PC

Heroes of Might & Magic^® 5 - PC

Splinter Cell 4 - PC

Splinter Cell 4 - Playstation^®2

Splinter Cell 4 - Xbox^®

Splinter Cell 4 - GameCube^TM

Splinter Cell 4 - next generation consoles

Splinter Cell - PSP^TM

Killing Day (working title) - next generation consoles

Product with Might & Magic brand - PC

Title to be confirmed - Xbox^®

Title to be confirmed - Playstation^®2

Q4 FY05-06