G5 Entertainment is announcing Extraordinary General Meeting to be held at 4:00 PM on August 16th, 2007 at Tamm & Partners AB on Birger Jarlsgatan 26, Stockholm, Sweden. The agenda includes discharge of the auditor, election of a new auditor, and election of a new member of the board – Anders Nilsson.

Vlad Suglobov, CEO, comments:
 
“The Board has reviewed the cost and work done by G5’s auditor in the last 12 months and concluded that the cost has been unreasonably high in relation to the company size and the work performed. We find the timing right in between annual reports to replace the auditor and give the new auditor time to settle in and prepare for 2007 audit. There are no disagreements regarding company financials. As G5 is growing rapidly, the board feels it is important to ensure partnership with professionals who can provide both cost effective and scalable support.”

“The board will be glad to welcome Anders Nilsson, who will bring experience in financial and legal aspects of running fast-growing IT companies.” 

World’s largest videogame publisher Electronic Arts has announced and released The Simpsons: Minutes to Meltdown – the mobile game developed by G5 Entertainment. The game is based on, and released to accompany The Simpsons Movie, the first full motion picture set in The Simpsons universe to hit the theaters worldwide on July 27th, 2007.

Mikhail Zakharov, The Simpsons: Minutes to Meltdown mobile game producer at G5 comments: “This project was a perfect fit for G5’s proprietary Talisman™ mobile technology. In the game, the player sees a spectacular view of The Simpsons world with tens of familiar Springfield locations and characters from the series – only possible with G5’s advanced technology. Making this game was a challenge because of the highest quality standards of the companies involved: EA, Fox, and Gracie Films, and we are glad that they all liked the game.”

Vlad Suglobov, G5 CEO, adds: “The launch of The Simpsons Movie is accompanied by the advertising campaign worldwide, with some innovative moves like popular US chain stores converted into The Simpsons’ famous Kwik-E-Marts, selling Buzz Cola and KrustyO’s Cereal familiar to the fans of the series. The Simpsons is a huge brand which appeals to many millions of fans worldwide, and we are happy to help extend The Simpsons experience to mobile platforms. This project was our first with Electronic Arts, and I am sure that it set a beginning for a long-term cooperation”.

During the last week of June and first week of July, Vlad Suglobov, CEO, visited G5's existing and prospective customers in Los Angeles, San Francisco, San Diego, and New York greater areas. During over 10 meetings held, G5's latest Talisman technology and game play prototypes were demonstrated, and development opportunities for the second half 2007 and first half 2008 were discussed.

"Rapid development of mobile games market worldwide, coupled with the growing demand for G5's services makes us comfortable with sustaining high growth in 2008", – says Vlad Suglobov.