August 25^th, 2003 (12:00am) - Further strengthening its racing games legacy, Namco Hometek Inc. announced today that it has purchased Street Racing Syndicate (SRS) out of video game publisher 3DO’s bankruptcy court proceedings. Currently in development at UK-based studio, Eutechnyx Ltd., Street Racing Syndicate puts players behind the wheel in the fast-paced world of underground motorsports. Under Namco’s new charge, the title will release in Q3 2004 on the next generation game consoles.

“Purchasing Street Racing Syndicate is a huge win for Namco as we continue to enhance our position in the video games industry,” said Nobuhiro Kasahara, president and COO of Namco Hometek Inc. “Together with the talented development team at Eutechnyx, we are confident that SRS will become a triple ‘A’ racing title.”

Street Racing Syndicate realistically captures the competition, lifestyle, and action of real street racing. With money and respect always on the line, nights in this underground world are filled with high-risk at every turn. Players can customize their cars with authentic parts, cool paint and anything else bought or won from their competitors. Hot cars, including real licensed vehicles and parts are represented with lifelike physics and authentic damage that affect both the looks and performance of the vehicles. Drivers race for money, pink slips and even the girlfriends of rival street racers.

Eutechnyx has developed many of the world’s most popular driving games such as Test Drive Le Mans, 007 Racing and Big Mutha Truckers. For Street Racing Syndicate, the developer recently received the prestigious Best Racing Game of the Show award at E3 (Electronic Entertainment Expo 2003) from Maximum Play magazine.

“Eutechnyx is exceptionally pleased that we will be working with Namco in the realization of Street Racing Syndicate,” said Brian Jobling, managing director of Eutechnyx Limited. “With Namco’s attention to detail and un-paralleled history in the car racing genre, this partnership will deliver a gameplay experience that exceeds the highest expectations of an SRS-hungry audience.”