Mindark Appoints New Chief Executive Officer

Gothenburg, Sweden – 2014-06-12

MindArk PE AB announced today that it has appointed Klas Moreau as new Chief
Executive Officer of the company.

Klas Moreau has been the Technical Director of Mindark since May 12, 2012. Before
that, Mr. Moreau was Head of Business Unit Command, Control and Applications at
Ericsson, the Swedish telecom giant.

Mr. Moreau succeeds David Simmonds, the company CEO since 2011. Mr. Simmonds
has been promoted to Vice Chairman of the Board of Directors of MindArk, and will also
contribute towards future business development for MindArk.

Mr. Simmonds had the following words regarding the CEO change:
“When I accepted the role of CEO over 2 years ago, it was understood and
communicated that the position would be temporary. The time has now come for me to
step down as CEO of Mindark. I will continue as CEO of Planet Calypso and direct
development and marketing to increase the active user base and revenue. I will also
carry on with the roles that I have been performing for many years here at Mindark,
including gameplay design, partner development and coordination, and company
management. I will also continue with business development and concentrate on
expanding the Entropia Universe platform to new business sectors and
implementations.”

“I'm confident to be leaving the CEO position in good hands with Klas Moreau, who will
take over immediately as CEO of Mindark. Mr. Moreau’s knowledge of IT, project
management and the whole Mindark corporate environment and Entropia Universe
infrastructure has been well proven over the last few years. Welcome Klas.”

Mr. Moreau offered the following view on his new role:
"As CEO of MindArk, I will focus on improving our communication with participants and
taking advantage of their valuable feedback to make Entropia Universe a more
entertaining and engaging universe. A place where Entropians are eager to play,
socialize, invest and entertain themselves. Toward that goal, MindArk will also prioritize
improving the stability of the Entropia Universe client and platform, and delivering a
quality product.”