Re Agreement

16th May 2002 Rage plc ("Rage" or "the Company") RAGE ANNOUNCES NORTH AMERICAN PUBLISHING DEAL WITH UBI SOFT ENTERTAINMENT FOR "ROCKY®" GAME Rage, one of the UK's leading publishers and developers of entertainment software, announces that it has signed an exclusive North and South American publishing and distribution agreement with Ubi Soft Entertainment ("Ubi Soft"), one of the world's leading videogame publishers, for the release of its series of games based on the Academy Award® winning Rocky movie anthology. Under the terms of the agreement Rage will receive guaranteed advanced royalties from Ubi Soft based on future sales of the title. Rage will also receive further royalties when the game achieves specific sales targets. The agreement with Ubi Soft means that all of the Company's major game titles scheduled for release through to Summer 2003 have now been licensed to publishing and distribution partners in North America. The Rocky series of games are based on the movie anthology starring Sylvester Stallone and feature all of the lead characters from the five Rocky films - Apollo Creed, Clubber Lang, Ivan Drago and Tommy Gunn. Rocky is scheduled for simultaneous release on the Sony PlayStation®2, Microsoft Xboxtm, Nintendo GameCube® and Nintendo Game Boy® Advance in Europe and North America in November 2002. Rage also announces that, further to the statement made on 21 March 2002, the Company continues to make progress in discussions with its Bankers and other financial advisers concerning the future funding requirements of the Company. While details have yet to be finalised the Company hopes to be in a position to make a further statement within the next few days. Paul Finnegan, Managing Director of Rage, commented: "We are delighted to have partnered with Ubi Soft for the release of Rocky as the title is one of our most important games due for release this year. We believe it is essential to have a major partner in place who can maximize the title within the US marketplace and have every confidence that the game can become a major seller across all console formats when released in time for Christmas." For further information, please contact:- Rage plc Paul Finnegan, Managing Director 0151 237 2200 Gary Johnson, Finance Director Glen O'Connell, Communications Director GCI Financial Roger Leboff/Geoff Callow 020 7072 4200 Teather & Greenwood Ltd Russell Cook 020 7426 9000 Ends ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2002/05/16/20020516BIT00400/wkr0001.doc http://www.waymaker.net/bitonline/2002/05/16/20020516BIT00400/wkr0002.pdf