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.

You've lost me.

Games write-offs put Warthog in the red
By Maija Pesola in London
Published: December 30 2003 9:28 | Last Updated: December 30 2003 9:28


Warthog, the UK computer games developer, on Tuesday said it had suffered a loss of 2.6m in the first half of the year, because of cancelled and delayed projects.


However, the company outlined plans to move to a new business model that would leave it less exposed to such losses, and said it would look to raise some 3m new funding in the new year in order to help it do so.

Warthog, which has developed games such as "Harry Potter and the Philosopher's Stone" and whose clients include games publishers such as Electronic Arts, Vivendi Universal and AOL Time Warner, said it was forced to take an exceptional charge of 2.2m to cover abandoned work.

For example, it had to write off the costs of developing a game based on the "ET" film after a publisher deal failed to be concluded. Another game, based on the Warner Brothers "Animaniacs" characters, has been subject to lengthy legal discussions over the ownership of the intellectual property rights, and no publishing contract has been concluded.

Warthog's woes come despite the fact that the games sector in general is growing. The Entertainment and Leisure Software Publishers Association (Elspa) has forecast strong sales over the holiday period, with UK games sales in 2003 set to top last year's 2bn.

Warthog said it was failing to benefit from this growth, however, as it had been caught out by a change in the business model used by games publishers.

Publishers are no longer paying games developers royalty advances to cover the costs of working on a project, said Warthog. Instead, developers are expected to shoulder more of the risk, using their own money to bid for projects they might never get, and based on IP rights that in some cases are not fully secured.

"This can add up to hundreds of thousands of pounds of work which has to be written off if unsuccessful," Warthog said.

Warthog is one of a growing number of developers that are suffering because of the precarious nature of the business. According to analysts, 23 UK studios went out of business in 2003. One of the most notable was Rage, a listed company, that called in the receivers in January.

To combat some of these risks, Warthog said it was looking to work more directly with the owners of IP rights rather than letting games publishers act as a middleman. It recently co-published a game - "Loony Toons - Back in Action" - with Warner Brothers using this model, and said other film studios had expressed interest in similar deals.

"IP holders are the ones that hold the power," said Simon Elms, chief financial officer of the company. "They are still very risk-adverse, and only starting to dip their toes in the water. But they see that the games industry has become very mainstream, and there is a general feeling that it makes sense for film studios to partner more directly with games developers."

In order to give it sufficient capital to pursue these co-publishing deals, Mr Elms said the company was looking to raise about 3m through either a share placement or a rights issue, early in the new year.

The company is also planning to move more of its operations to the US to reflect the increasingly US-centric nature of the games industry and to offset the effects of the weak dollar.

Most of Warthog's revenues are in dollars but almost all its costs are in sterling, meaning that, in addition to the games write-offs, it was also hit hard by the fall of the dollar earlier this year.

The company will open a small representative office in Los Angeles, and will expand the capacity of its existing Texas studio.

Ian Grieve, commercial director, will relocate to the west coast to steer the US side of the business.

Revenues for the six months to the end of September were 4.96m, down from 5.4m in the same period last year. Pre-tax losses were 2.63m, compared with a profit of 134,393 last time.

Net current assets were down 1.65m from last year's 4.9m, while net debt doubled to 2.4m. Cash reserves are down by 1m to 212,415.

http://news.ft.com/servlet/ContentServer?pagename=FT.com/StoryFT/FullStory&c=StoryFT&cid=1071251826167&p=1012571727307

A very happy and prosperous new year to everyone!

Happy NY to all. Thanks for your advise Sue, made some bob, will see how this goes on Friday. I feel it will reach 10-11 on Friday.

Hi Xmortal,

I do think so it will too.

From Investtech:

Neutral (Medium term) - Dec 31, 2003
Has fallen 79% since the peak on 12 Jun 2002 at 37.50. Is within a falling trend. Continued negative development within the trend channel is indicated. Has, however, broken a resistance level in the short term and given a positive signal for the short-term trading range. The stock has resistance at p 11.00. The poor liquidity of the stock (traded 100% of the days, mean 9.70 mill per day) may weaken the analysis.

Indicators become more positive. Should test the 11 pence resistance on Friday.

Best Wishes,

Sue.

WHOG was mentioned again on the, On the Move stocks on Page 513 on Channel 4 teletext.

Computer game designer WARTHOG, which has created a new Harry Potter title, added 2.12p to 5.5 after results on Tuesday.

http://www.thesun.co.uk/article/0,,9-2003602304,00.html

A typing error as it should be added 2.12p to 7.62 pence.

Hi All. moved up 8% volumes are low. I can see it gaining another 10% by eod. Sue, what do u think??? How about next Monday, any gains?? Thanks

Hi Xmortal, think much more gains are yet to come. Nice to see the profit takers coming in....Very healthy sign now that's done further upward movement should be pretty safe. And the offer rises back to 8.5 pence.

Much more further movement should be coming tomorrow and Monday I would think.

Selling on little volume, only taking a breather before next move up, still only small holders sells coming through. Top-up opportunity???
To add still not even one 100,000 sell today. That say's something. Bigger holders are definately holding on for further big gains.

Topped up just now with another 30,000 shares. Profit taking has been on very small selling volume. Still a Very Strong Buy for me.

Sue will be helpful if you could please post notes from Investech. Ta

Pillage becomes Future Tactics: The Uprising when its released in the US
(MSRP of $9.99)

December 15, 2003 - Crave Entertainment today announced Future
Tactics: The Uprising, a turn-based RPG, due to release on PlayStation 2 in early 2004.

Crave desrcibes the game as "a tale of love, loss, redemption, hope and a slew of 'ugly green muthas.'" Set in the not too distant future (when Earth as we know it has succumbed to a race of extra-dimensional creatures), Future Tactics: The Uprising rests its hopes for restoring order on the shoulders of a young boy, his sister and their crazy rebellious posse of militants.

In more concrete terms, Future Tactics: The Uprising is a turn-based tactical RPG that's built around a highly complex battle engine, and features Story Mode and a two-player Battle Mode. Future Tactics: The Uprising comprises 18 3D environments, 19 levels, deformable terrain, fully animated and voiced cutscenes, a two-player customizable battle mode, the ability to custom build your team members with upgrades, and a Boot Camp tutorial mode.

Due in March 2004, Future Tactics: The Uprising is selling for an MSRP of $9.99. Check www.cravegames.com for more details

http://ps2.ign.com/articles/446/446243p1.html?fromint=1

From The Daily Telegraph Newspaper today:

Major price changes on week:

Warthog +3 3/4 - Encouraging Statement.

Neutral (Short term) - Jan 2, 2004
Has fallen 70% since the peak on 5 Sep 2003 at 20.50. Has broken the ceiling of the falling trend, which indicates a slower initial falling rate. The stock has support at p 2.50 and resistance at p 14.00. Poor liquidity (traded 100% of the days, mean 9.08 mill per day) weakens the analysis.

Neutral (Medium term) - Jan 2, 2004
Has fallen 83% since the peak on 13 Jun 2002 at 37.50. Is within a falling trend. Continued negative development within the trend channel is indicated. The stock has resistance at p 11.00. Poor liquidity (traded 100% of the days, mean 9.08 mill per day) weakens the analysis.

Neutral (Medium term) - Jan 2, 2004
Has fallen 83% since the peak on 13 Jun 2002 at 37.50. Is within a falling trend. Continued negative development within the trend channel is indicated. The stock has resistance at p 11.00. Poor liquidity (traded 100% of the days, mean 9.08 mill per day) weakens the analysis.

Volume Balance is positive in terms of high buying on positve days and small selling on negative days and there is strong support at 6.04 pence.