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To: Johnny Canuck who wrote (32512)	5/30/2001 2:14:07 AM
From: Johnny Canuck	Read Replies (2) \| Respond to of 70375

infiniti.com Quotes EIDSY SNE 4.24 81.25 -0.24 -1.46 delayed 20 mins - disclaimer Tuesday May 29, 12:35 pm Eastern Time TheStandard.com Lara Croft Gets Out the Begging Bowl By Rick Wray - London Correspondent Eidos, the creator of Tomb Raider's Lara Croft, is preparing to offer existing shareholders a batch of new shares at below present market value, in an attempt to raise $70 million. The company's shares have dropped like a stone from last year's highs of over 12 pounds ($17) reached over a year ago, because of delays to the release of new game consoles such as Sony's PlayStation 2. The company warned in January that these delays were hurting sales of new games while sales of software for existing platforms were slowing in anticipation of faster and more advanced technology. At the end of December, Eidos had about $11 million cash in hand and had used up roughly half of an existing $70 million overdraft. On Tuesday the company acknowledged that the situation has become so severe that it is "in the late stages of arranging an equity issue for cash at a deep discount to the share price prevailing at the close of business on 25 May 2001." That price was just under 300 pence. On Tuesday the group's shares were down 6 percent, at 278 pence. Full details of the rights issue, along with the group's results for the year to end March 2001, will be released over the next two weeks, according to sources. The company maintains that it needs the cash to take advantage of an increasingly healthy market for new software. Certainly positive comments suggesting that the industry is turning around have emerged over recent weeks from the Electronic Entertainment Expo (E3) gaming show in Los Angeles.