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Ener1 Group to Acquire Game Developer Nival Interactive

Ener1 Group to Acquire Game Developer Nival Interactive

FT. LAUDERDALE, Florida, April 6 /PRNewswire/ --

- US Company Leverages Russia's Largest Game Developer to Produce Next Generation Console and Wireless Games

Ener1 Group, a technology holding company, announced today that its affiliate has signed an agreement to acquire Moscow-based Nival Interactive LLC., Russia's largest video game developer. Ener1 Group plans to integrate Nival Interactive's creative studio of 140 artists, designers and programmers with its US-based video gaming interests to develop next generation console and wireless games. Ener1 Group also announced that Sergey Orlovskiy, Nival Interactive CEO and Founder, has been named President of the new company, called Nival Inc., which will be based in Ft. Lauderdale, Florida.

"Ener1 Group has been looking for the right opportunity to expand its video game operations. We believe that Nival Interactive is the ideal platform and that Sergey Orlovskiy is the ideal person to expand the new company and the Nival Interactive brand as we continue to grow through future acquisitions," said Mike Zoi, President of Ener1 Group.

He adds, "Sergey is an exceptional leader who has built his company from the ground up and it is now selling millions of video games throughout Europe and the rest of the world. He has assembled one of the most talented creative teams and his ability to land distribution and development deals with leading publishers such as Ubisoft shows his strong business acumen."

Nival, Inc. will combine the artistic strengths and the economies of scale offered by an offshore production team with the cultural and linguistic expertise of North American game developers to create next generation console (Xbox 2 and PlayStation 3) and wireless games with universal appeal. Ener1 Group will also provide the company with entry into the Japanese market, one of the world's biggest and fastest growing markets for video and wireless games.

Sergey Orlovskiy, President of Nival, Inc., stated, "This partnership provides both our companies with the optimal solution for accomplishing our mutual goals. Ener1 Group's resources and international presence will accelerate Nival's strategy for growth, developing exceptional and creative content for the interactive entertainment industry, exploring new distribution opportunities and attracting top talent in the global marketplace."

Founded in 1996, Nival Interactive has developed eight internationally marketed entertainment titles, including Blitzkrieg published by CDV, a game that has sold more than a million copies worldwide and set new standards for WWII games and the RTS genre; and the award-winning Silent Storm series. The company recently announced it is developing game five of the legendary franchise Heroes of Might and Magic for Ubisoft, one of the world's largest video game publishers.

Nival Interactive has achieved critical acclaim both at home and abroad winning Best Developer 2005 at the Russian Game Developers Conference as well as numerous Game of the Month and Game of the Year awards for its game titles.

About Ener1 Group

Ener1 Group, a privately held, diversified technology investment holding company, understands how to turn ideas into profits. Through its portfolio of companies, which range from start-ups to public companies, Ener1 Group offers a range of exciting new technologies that are poised to make significant contributions to a variety of industries. For more information about Ener1 Group, Inc., visit http://www.ener1group.com.

About Nival Interactive

Nival Interactive is Russia's leading game developer, and also the largest, with four development teams and staff of over 140 dedicated professionals and true game enthusiasts. Since its inception in 1996, Nival Interactive has gained worldwide recognition from both press and gamers thanks to its impressive lineup of highly successful titles including the Rage of Mages, Etherlords, Blitzkrieg and Silent Storm series, backed by a genuine commitment to creativity and innovation. For more information about Nival Interactive, visit http://www.nival.com.

Media Contact: Alys Daly +1-305-815-0312 +1-954-202-4442 [email protected]

Web site: http://www.ener1.com

Ener1 Group

Alys Daly, +1-305-815-0312, or +1-954-202-4442, or [email protected]

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