Anarchy Online: Funcom secures EUR 4.5 million

Oslo, Norway - 27 April, 2004 - Funcom NV, a leading developer and
publisher of computer and console games, announced today that it has
secured a EUR 4.5 million equity investment from a consortium of Northzone
Ventures (EUR 3.5 million) and existing investors Teknoinvest and Stelt
Holding. The investment enables Funcom to further increase the scope and
quality of their future Massively Multiplayer Online Games (MMOG), while
expanding Funcom's sales and marketing capabilities globally.

"We have already proven that we are a world leading MMOG developer with
Anarchy Online" says Funcom's CEO and President Trond Arne Aas, and
continues "Anarchy Online is today a highly profitable game. The
financing from Stelt, Northzone and Teknoinvest will enable us to
further increase our investment in the development of the next
generation online games and to become even better at what we excel at;
creating unique and immersive virtual worlds for a global market of
consumers".

Torleif Ahlsand, Partner in Northzone Ventures and new Chairman of the
Board of Directors, said,: "The MMOG genre is currently the fastest
growing segment within the expanding gaming industry, and offers several
attractive attributes, including the monthly subscription revenue model,
a global market potential, expanding demographics and low risk of
piracy. We are impressed by the high calibre of the Funcom team, and
feel confident in their ability to develop new world-class games".

Funcom is now developing three MMOGs, one of them being the successful
Anarchy Online which is the subject of ongoing development.

Funcom Portfolio highlights:

- Anarchy Online - Shadowlands, PC (2003)
'Expansion pack of the year 2003', IGN.com
'Outstanding achievement in Art Direction', RPGvault.com

- Anarchy Online - Notum Wars, PC (2002)
'Expansion pack of the year 2002', Computer Gaming World

- Anarchy Online, PC (2001)
'Online Game of the year 2001', PC gamer US
'Best Online game E3 2001'
'Best Online Game ECTS 2001'

- The Longest Journey, PC (2000)
'Adventure game of the year 2000'
PC gamer US, IGN.com, Gamespot.com, Gamespy.com, Gamers.com

- Championship Motocross 2001, Playstation (2001)
- Championship Motocross, Playstation (1999)
- Speed Freaks, Playstation (1999)
- NBA Hangtime, Super Nintendo/Sega MD (1996)
- Pocahontas, Sega Genesis (1996)
- Casper - the friendly ghost, Playstation (1995)

About Funcom
Funcom is an independent developer and publisher of computer and console
games, and is worldwide known for its high quality games. With a main
focus on subscription based online games, Funcom continues to expand its
impressive track-record of more than 23 games to date. For corporate
information please visit www.funcom.com. Images and information for the
press can be found at ftp://Press@ftp.funcom.com or www.anarchy-online.com

About Northzone Ventures
Northzone Ventures is a leading Nordic venture capital fund dedicated to
investments in early stage technology companies. Northzone seeks top
entrepreneurial teams, and plays an active role in developing Nordic
ventures with unique technology into global companies. Northzone has
offices in Copenhagen, Oslo and Stockholm, and manages ?150 million from
leading Nordic and international institutional investors. Northzone's
investments in the software sector include Trolltech, Envox,
Pricerunner, Cryptico and Colibria. To learn more about Northzone
Ventures, please visit: www.northzone.com

About Teknoinvest
Teknoinvest Management AS was founded in 1984 and is the Nordic venture
capital firm with the longest track record of investing in technology
start-ups. Teknoinvest is an active investor seeking to assist
outstanding teams in building global companies based on innovative
technologies. Teknoinvest invests in the ITC and Life Science sectors in
the Nordic countries and the USA, and currently has ?125 million under
management. Teknoinvest's investments in the ITC sector include Opera
Software, Trolltech and Optinel. To learn more about Teknoinvest, please
visit www.teknoinvest.com.