Early Bird Special (EBS)

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CPYE - Conspiracy Entertainment Strengthens Balance Sheet
Business Wire - August 23, 2004 09:01

SANTA MONICA, Calif., Aug 23, 2004 (BUSINESS WIRE) -- Conspiracy Entertainment (OTCBB:CPYE) today announced that an agreement has been reached with one of its founders, Thomas Brockhage, to settle its debt of $262,500.00.

In exchange for waiving his debt, Brockhage will receive the equivalent in shares priced at 40 cents. "This was done to support Conspiracy; not only am I happy with the share price negotiated, but I am looking forward to seeing the company succeed in the future," remarked Brockhage. "This will give me an opportunity to hold a small ownership in the company I helped start."

"This is something that we have been talking about for some time now," said Sirus Ahmadi, President and CEO of Conspiracy. "I am just glad that the timing was right and that Thomas sees the opportunity to help us now, for future benefit."

"We have now removed over $4 million in debt from our books and will continue to look for ways to improve our balance sheet," commented Conspiracy CFO Keith Tanaka.

Specific terms and conditions of the agreement will be included in the forthcoming quarterly report from the company.

About Conspiracy Entertainment Corporation

Based in Santa Monica, Calif., Conspiracy Entertainment Corporation is a developer, publisher and marketer of entertainment software in North America and Western Europe. The company develops and licenses properties from several sources, including global entertainment and media companies, and publishes software for DVD media, wireless devices, personal computers and videogame consoles including those manufactured by Nintendo, Sony Computer Entertainment, and Microsoft Corporation. For more information, please visit our website at www.conspiracygames.com.

SOURCE: Conspiracy Entertainment

Conspiracy Entertainment Corporation
Keith Tanaka, 310-260-6150 x105

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