http://www.warthog.co.uk
Daily Execution Price and Volume

Major Shareholders
( 4 Nov 04) 367.48m 1p Ords - Evo Noms Ltd 9.12%, Broughton Ltd 8.16%, Chase Nominees Ltd 4.76%, Barclayshare Noms Ltd 4.71%, Goldman Sachs Secs (Noms) 4.18%, HSBC Global Cust Noms (UK) 3.81%, Gartmore Inv Ltd 3.09%, A J Hall 2.05%, Other Dirs 1.34%.
http://www.hemscott.com/internet/custom/whog/
Trades over 90,000 shares are delayed in reporting by 1 hour.

03 November 2004
WARTHOG PLC
DISPOSAL OF SUBSIDIARIES

The board of Warthog plc (the 'Company') announces that it has today completed
the sale of all of the Company's subsidiaries to Tiger Telematics, Inc ('TGTL')
together with the transfer to TGTL of certain intra-group indebtedness due to
the Company. The total consideration including assumed indebtedness is $8.11
million of which $1,113,000 will be paid in cash and $7 million satisfied by way
of an allotment of 497,866 shares of common stock in TGTL at $14.06 per share,
being the average mid market closing price of a TGTL common share over the 14
days preceding completion. These shares are restricted stock and as such can
only be traded on or after the first anniversary of completion (the
'Anniversary') in accordance with U.S. securities laws. Up to the Anniversary,
these shares will be held in escrow against any claim arising under certain
warranties, tax indemnities and completion account net asset value adjustments
set out in the sale and purchase agreement. 150,000 of the cash consideration
will also be held in escrow until the Anniversary, pending specific warranties.
The Company has waived the balance of all other amounts due to it by its former
subsidiaries.

Upon completion of the transaction, the executive directors Ashley Hall, Steven
Law and Simon Elms together with one other remaining employee of the Company
will transfer employment to TGTL leaving Ian Templeton FCA and David Robinson as
non-executive Directors of the Company. The Company has also undertaken to
change its name and will be calling an EGM to effect such a change in due course
and will at that time update shareholders further.

The board of Warthog plc has sought to complete this transaction as rapidly as
possible (and therefore did not elect to seek shareholder approval) because the
group has continued to face difficult trading conditions within the games
development industry, as reported in the Company's Final Results on 28 September
2004, which has put the group under ongoing financial pressure. In addition,
TGTL required the transaction to be consummated as expeditiously as possible, in
conjunction with the commencement of shipping of its Gizmondo product into the
UK. The transaction leaves the Company having discharged substantially all of
its liabilities and with a valuable shareholding in TGTL which will be capable
of realisation in a year's time. The realisable value of this shareholding
depends entirely upon the commercial success of TGTL and the performance of the
TGTL shares on the financial market.

The board considers, in conjunction with its advisers, that this transaction
represents the best available outcome for the Company and its shareholders.

Tiger Telematics, Inc is listed on the 'NASDAQ Other OTC Market' under symbol
'TGTL'. TGTL's publicly stated intention is to apply for a listing on the
'NASDAQ National Market' in December 2004. TGTL is a designer, developer and
marketer of mobile telematics systems and services that combine global GPS
functions and voice recognition technology to locate and track vehicles and
people down to street level in countries throughout the world. The systems are
designed to operate on GPS and are currently being marketed to GSM current and
potential subscribers, primarily by the company's United Kingdom based
subsidiary, Gizmondo Europe Limited ('GEL'). GEL is a wholly owned subsidiary of
TGTL and is the maker of the Gizmondo, a next-generation mobile entertainment
device which includes games, built-in music, video, messaging and picture
functions and GPS. On 29 October, TGTL began shipping its first generation
product as part of a strategic retail roll out in the UK.

The transaction gives GEL access to existing games content and porting
technology to enable the transfer of titles developed for use on other platforms
on to the Gizmondo handheld device. Warthog plc shareholders will therefore
benefit from continued investment in TGTL as it seeks to exploit the games
content and technical capabilities that the Company has developed over the past
few years.

As previously announced on 12 October 2004, GEL is interested in 8.62 per cent.
of the Company's current total issued ordinary share capital.

About the Gizmondo device
The Gizmondo is powered by a Microsoft Windows CE.net platform, boasts a
2.8-inch TFT colour screen with a Samsung ARM9 400Mhz processor and incorporates
the GoForce 3D 4500 Nvidia graphics accelerator. It provides cutting-edge
gaming, multimedia messaging, an MP3 music player, MPEG4 movie playing
capability, a digital camera and a GPRS network link to allow wide-area network
gaming. Additionally, it contains a GPS chip for location based services, is
equipped with Bluetooth for use in multi-player gaming and accepts MMC card
accessories.

The Gizmondo device and its games are due for launch in the UK in the fourth
quarter 2004 and in North American markets from the first quarter 2005.

Further information on TGTL, GEL and the Gizmondo device can be found at:
www.tigertelematics.com
www.gizmondo.com
Enquiries:
Ian Templeton
Chairman - Warthog plc
Tel: 0870 122 5420

6 November 2004.
Daily Mail Newspaper : Page 80.

DEALERS believe that Warthog, 0.11p dearer, could be a good recovery punt. More than 52m shares in the computer games developer changed hands on hopes that the worst is over. Tiger Telematics, a leading European games console maker grabbed it by the tusks in October when it bought its subsidaries, intellectual properties and assests. In return Warhog acquired a stake in TT which is now worth at least 3p per share.

TGTL seem pretty good at issueing staements/updates so I would feel we will know fairly soon how sales are doing.Shares mag comment today seemed flimsy.It says "WHOG currently owns shares in the company(TGTL) worth 6.3 million. It currently cannot trade in these shares and the outlook is somewhat unclear"!
WHOG own TGTL shares valued 6.3 millin and they are able to trade them a year after they acquired them!They are real shares with a real value....whats unclear , or am i being too naive and simplistic?

willfagg - Totally agree with you. Nothing unclear at all. Moreover, if Microsoft do buy out TGTL (only a market rumour, not a certainty) the comitment on WHOG to retain the TGTL shares in escrow for one year may well be dropped. Microsoft could (would ?) buy these shares directly from WHOG at a premium.

The WHOG sp seems pretty well locked in to the TGTL sp at the moment, but we must not forget that this is not the only asset of WHOG. It is already set up as a company with credit references, banking facilities, a large tax credit, etc, and therefore quite attractive as a cash shell for a new company to move into.

To be really pedantic, it is a bit daft quoting the market cap of WHOG in the magazine. This value changes daily - sometimes quite significantly. For example, based only on the TGTL shareholding, the TGTL sp at close of play last night and the /$ rate, the market cap of WHOG at the moment is 7.2m. So I make that a 14% rise in profit since Shares mag came out this morning!

Hardly worth printing since its comment is more than somewhat unclear!
What is pretty clear is that TGTL's share price is going to go up. More a question of timing rather than if.
As it it the Whog price will need to move up 35% to reach parity with the value of its TGTL holding. That looks pretty good to me.
Strange that you couldn't stop the buying when the shares were overbought, the opposite now that they are oversold. Human nature I suppose. Anyhow I have added a few extra 100k. Never could resist a bargain. My garage is witness!

Is the reference to the outlook being somewhat unclear directed at the caveat that TGTL can offset any oddities that crop up from their purchase of the games part of WHOG ? I think there was something about this in the WHOG trading update around Christmas/New Year - might be wrong though.

Paul,
Those sorts of caveats are quite common since they are intended to cover undisclosed or unforeseen liabilities. Certainly no hint of that in last Whog RNS.I don't subscribe to Shares mag but maybe Willfagg can ask what they are on about.
Meanwhile I've e-mailed TGTL to ask about factory rollout/delivery schedules and the timing of the Nasdaq debut. The latter will help raise the profile of the company since a debutante has the chance to ring the opening bell and gets a bit of free US tv coverage. They promised an answer tomorrow.

Iturama,

Excellent idea. Thank you for your efforts on this.

I e-mailed tiger last week to ask about the pre-orders but got no response. Hope you have better luck! Would be nice if they posted it as an RNS, or whatever the Yanks call it, before Wall Street opens today!

For anyone interested, The Register today carries an article on the Gizmondo shop in London.http://www.theregister.co.uk/2005/01/21/gizmondo_shop/

OK, had an answer of sorts from TGTL.
My questions were:

1. Are any Gizmondos on sale yet? If so, where can I actually go and buy one?
If not, when will they hit the shelves? US, UK or anywhere.
2. Can you give any idea of current stock levels for distribution and/or roll-out predictions from the fabricator over the next 3 months?
3. Is there clear time frame for TGTL to make its debut on Nasdaq?

The answer I received:

1. Yes, but demand has unfortunately outstripped supply at this time. Stock is being dispatched as the manufacturing is being ramped up, so expect Gizmondos to be appearing in high street retailers across the UK throughout February. The US and Pan-European street dates haven't been confirmed as yet and releases are currently list as Spring. However, customers can pre-order via the Gizmondo.com website



2. Stock allocations and fabrication quantities tend to change all the time and as such we don't get visibility on it.



3. The TGTL application to go main board listed is entirely in the hands of NASDAQ, which are experiencing some delays themselves. We have complied with every aspect of the application process and now await clearance of the back log. Indications are that it should be any day now.



Best Regards,



Tiger Telematics

So there you have it.

iturama - thanks for finding that information out. Glad to hear that demand currently outways supply. Interesting to see that TGTL are going to fully list on NASDAQ. I was under the impression that they already were. However, turns out that they are listed on NASDAQ Other. My mistake. So even more good news when they make there debut, methinks.

Also - watch out for Microsoft reporting on Thursday. Will there be any mention of TGTL?

Starfrog
TGTL are an OTC (over the counter) stock. A Nasdaq main board listing will be a major step forward. Rather like moving from the AIM to the FTSE.
I assume that the pre-orders will be filled before units go to the retail market, although figures from John Lewis et al may be included in the pre-orders. I guess we will know soon enough.

again thanks iturama

Well done Iturama & thanks as always for the hard graft that you put into this thread amongst others.

Chris

Welcome Chris.
Don't know why thw Whog price is weakening. TGTL price is holding up well - coming back if anything. Par value is 2.0p. I assume some people are selling in the hope of buying back cheaper later. Seems a risky strategy to me at this point in time.

WHOG does look oversold. Nice time to top up. TGTL look ready for another upsurge. Full NASDAQ listing is great news! I will feel much better though when I actually see one of these things in the shops. I would also like to add my thanks to Chrispine's for iturama's work in keeping everyone updated on WHOG.

Just found this on Nasdaq.com!

TGTL TGTL
TIGER TELEMATICS INC Other OTC


Back to Headlines | Previous Story



Tiger Telematics Sparks Analyst Interest



LONDON, January 24 /PRNewswire-FirstCall/ --

- Leading Industry Analysts Speculate on Gizmondo's Future

Gizmondo Europe Ltd, subsidiary of Jacksonville, Florida-based Tiger Telematics Inc (OTC: TGTL, OTC: TGTL.PK), are delighted to be included in the latest Entertainment Industry analysts report by Terranova Institutional Equity Research (dated 19th January).

The industry report, compiled by Boris Markovich follows Gizmondo's strong reception from show-goers at this year's Consumer Electronics Show (CES) in Las Vegas.

The report is available in an Adobe Acrobat(TM) PDF format from the Tiger Telematics website at www.tigertelematics.com. Otherwise, to get a copy of this report or to be added to the Electronic Entertainment Industry Update email distribution list, or for a copy of a prior report contact TerraNova Institutional via their website at www.terranovainstitutional.com or email research@tnto.com.

Carl Freer, Managing Director, Gizmondo, says: "We are pleased to be covered in this report on the games industry, by such a fine independent research firm like Terranova. We anticipate that more analysts will begin compiling data about our company and its position in the ever-growing games market."

The Gizmondo is powered by Microsoft Windows CE advanced real-time operating system, boasting a 2.8-inch TFT colour screen with a Samsung ARM9 400Mhz processor and incorporates the GoForce 3D 4500 NVIDIA graphics accelerator. It provides cutting-edge gaming, multimedia messaging, an MP3 music player, Mpeg4 movie playing capability, a digital camera and a GPRS network link to allow wide-area network gaming. Additionally, it contains a GPS chip for location-based services, is equipped with Bluetooth for use in multi-player gaming and accepts MMC card accessories.

The Gizmondo device and its games are currently launching in the U.K. and in North American and Continental Europe markets during the spring of 2005.

The names of actual companies and products mentioned herein may be the trademarks of their respective owners.

Except for historical matters contained herein, the matters discussed in this press release are forward-looking and are made pursuant to the safe harbour provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that these forward-looking statements reflect numerous assumptions and involve risks and uncertainties that may affect Tiger Telematics, Inc. and its subsidiary businesses and prospects and cause actual results to differ materially from these forward-looking statements. Among the factors that could cause actual results to differ are Tiger Telematics Inc.'s operating history; competition; low barriers to entry; reliance on strategic relationships; rapid technological changes; inability to complete transactions on favourable terms; and those risks discussed in the Company's filings with the SEC.

SOURCE Tiger Telematics Inc (TIGR)

TGTL up 10% so far today on good volume. Blue day tomorrow.

reading the responses the next three months should be progressive - no doubt with supply fixed, stock on the shelves, visibility, etc will be back to 2.5/3.0

TGTL had a good run yesterday with a bit of profit taking toward the close of play (peaked at +12%). Expect similar today.

Good find 0057659.

What that TerraNova report says regarding TGTL and Gizmondo:

Gizmondo Deals Clear Paths to Pacific
Gizmondo Europe last week signed three agreements that together will bring
more than one million units of the handheld to five countries in the Asia-
Pacific region. Resulting from the strong reception of the Gizmondo at the
CES, the three one-year distribution deals will bring 600k units to Australia
and New Zealand (at the rate of 50k per month), 360k units to South Korea
and Hong Kong (30k per month) and 360k also to the Philippines (also 30k
per month).
Impact: With the launch of the Gizmondo in Europe in February and in the
U.S. in April, the company already has almost two million units planned for
its first year. In earlier printed reports, the company has gone on record with
some preliminary plans for up to 3.5 million units in the first year. If the
company can ship over three million units in its first year, we estimate it
could garner as much as 10% of the handheld gaming market, making it the
third serious mobile platform development option in the market with the
Nintendo DS and the Sony PSP.