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PARADOX ENTERTAINMENT ACQUIRES RIGHTS TO ROBERT E. HOWARD’S LIBRARY

Beverly Hills, CA (February 6, 2006) - Paradox Entertainment announced today that the company has acquired all rights to the library of author Robert E. Howard, the creator of Conan and over 800 other literary pieces. Paradox Entertainment has owned Howard’s Conan since 2002 and the new addition of the entire library gathers all of Howard’s writings under one company. The property was sold to Paradox Entertainment by the Texas-based Alla Ray Morris Generation Skipping Exemption Trust. The transaction is financed through Paradox Entertainment. Paradox Entertainment is represented by The Gersh

NINE-MONTH FINANCIAL STATEMENT

· Estimate for full-year earnings adjusted from 12.5 MSEK to 14 MSEK · The net revenue during the first nine months 2005 was 21 MSEK (compared to 16.1 MSEK for 2004). · Earnings during the first nine months 2005 before tax was 11.9 MSEK (compared to a loss of 0.6 MSEK for 2004). · The company will be listed on the NGM Equity list on November 25, 2005(The comparative information includes the Interactive division, which was sold in December 2004.) “Our sales are continuing in a positive manner and our properties are developing strongly. We look forward to being listed on the

PARADOX ENTERTAINMENT AND THQ TO COLLABORATE ON VIDEO GAMES BASED ON CONAN UNIVERSE

Paradox Entertainment Inc. and THQ Inc. (NASDAQ: THQI) today announced a worldwide, multi-year licensing agreement for THQ to develop interactive games based on Conan. The agreement covers development for all current and next-gen systems as well as PC, wireless and handheld platforms.“THQ’s proven success with high-profile licensed properties will ensure Conan games deliver an interactive experience worthy of a truly legendary character,” said Fredrik Malmberg, Head of Licensing & Creative Affairs at Paradox Entertainment. ” Developing next-gen console games is a huge commitment and we’re

STELLAR VOICE CAST IN FIRST ANIMATED CONAN MOVIE

Ron Perlman, Marg Helgenberger and James Marsden are three of the voices in the upcoming animated full-length movie ”Conan: Red Nails”, with a planned direct-to-dvd release in summer 2006.Ron Perlman is Conan of Cimmeria, the most famous barbarian in all of fantasy literature. Perlman, the star of the Hellboy live-action franchise, provides the voice of Conan for Conan: Red Nails, the very first animated film featuring the enduringly popular character. Marg Helgenberger, the star of CSI, and James Marsden, best known as Cyclops from the X-Men films, round out a stellar voice cast that

PARADOX ENTERTAINMENT SELLS MUTANT CHRONICLES MOVIE RIGHTS

Paradox Entertainment has sold the Mutant Chronicles movie rights to a New York-based production company. The movie is expected to go into production later this year.The property Mutant Chronicles was successfully launched as board/role-playing, as well as a miniatures game, in the early nineties and spawned a flurry of licensed spin-offs such as comic books, video games, novelizations and a collectable card game (the latter which sold more than 170 million cards in 20 language editions worldwide). The property is now subject to an extensive re-launch across all media. - We have for some

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