August 27^th, 2003 (12:00am) - Due to the latest international legal developments surrounding Mod Chips and similar devices, and for financial reasons, Lik Sang International Limited signed an Acknowledgement and Undertaking which includes a one time compensation payment to Sony Computer Entertainment Inc.

Lik Sang International Limited, a Hong Kong based console retailer and former company behind Lik-Sang.com, was brought down by Sony Computer Entertainment Inc in cooperation with Microsoft and Nintendo September last year, alleging selling so-called ’circumvention devices’.

The worldwide undertaking forbids the company and both of its Directors getting involved into trade of circumvention devices for any Sony product and acknowledges several Sony Copyrights and Trademarks. Furthermore the Undertaking also covers publishing related information related to the copy-protection employed by Sony in their present and future videogame systems.

Ultimately, Lik Sang International Limited and both Directors agreed to dismiss an appeal filed to a High Court Order of March this year, which was in favor of Sony Computer Entertainment. A compensation payment of an undisclosed sum to Sony Computer Entertainment Inc has been made in June 2003.

The Undertaking does not affect the court actions brought by Microsoft and Nintendo, which are still being defended and appealed at this moment of time.