Gravity's Ragnarok Online in France and Belgium

Seoul, South Korea - August 30, 2005 - GRAVITY Co., Ltd. (NASDAQ: GRVY), an online game developer and distributor, today announced that its principal game title, Ragnarok Online, is now available in France and Belgium, through its recent licensing agreement with its French partner, Mados Inc.

Gravity, together with Mados Inc, will begin to localize Ragnarok Online and provide technical support with a view to launching Ragnarok Online service in France and Belgium by the end of 2005. David Yoon, the CEO of Gravity commented, "With our entrance into France and Belgium, we continue our global expansion of our flagship title Ragnarok Online. We believe that the online game market in France possesses an attractive market potential for us, especially in light of our existing market presence in other European countries such as Germany, Austria, Switzerland, Italy, and Turkey. For the first time, we plan to provide technical support and localized marketing strategies in French and hope to achieve a good first impression and acceptance of Ragnarok Online in these markets.”

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