For
more information visit http://www.co.com

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com/reports/c18855) has announced the addition
of 2005 Middle Eastern - Broadband and Internet Markets to their offering
(Logo: http://www. Broadband is Israel is set to go mainstream with the bundling of voice
and video services by the cable companies that have recently launched Voice
over Internet Protocol (VoIP) services and eventually by incumbent Bezeq which
is currently prevented from bundling its services for competitive reasons.

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permitted ruler

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The
increase in competition, demand for broadband content such as Video-on-Demand
(VoD), and maturing market will result in increased demand for higher
bandwidth connections."

About GRAVITY Co.S.

A pragmatic ruler, he successfully navigated competing pressures from the major powers (US, USSR, and UK), various Arab states, Israel, and a large internal Palestinian population, through several wars and coup attempts .

In 1989 he resumed parliamentary elections and gradually permitted political liberalization; in 1994 a formal peace treaty was signed with Israel.

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Research and Markets: Approximately half of Israel's households are subscribers to broadband but majority of connections are in the sub-1Mb/s range.

"
"We are excited about the Middle East market opportunity given the rapid
increase of young game users and because the high-speed bandwidth already that
gamers require, especially in the Arab Emirates , Saudi Arabia, Israel and
Bahrain.S. All forward-looking statements involve risks
and uncertainties , including, but not limited to, the ability to diversify
revenue, ability to collect license fees and royalty payments from overseas
licensees and in a timely manner; ability to acquire, develop , license,
launch, market or operate commercially successful online games; competition
from companies that have greater financial resources; introduction of new
products into the marketplace by competitors; the ability to recruit and
retain quality employees as Gravity grows; and economic and political
conditions globally. The forward-looking statements
speak only as of the date of this release and Gravity assumes no duty to
update them to reflect new, changing or unanticipated events or circumstances .

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DUBLIN, Ireland, Research and Markets
(http://www.com/cgi-bin/prnh/20040820/RESEARCH )
This annual report provides an insight into the developing Broadband and
Internet markets of the Middle East. Gravity also offers a number of
mobile games, which are played using mobile phones and other mobile devices,
participates in the production of a televised animation series, and licenses
merchandizing of character-related products based on its online games. Private Securities Litigation Reform
Act of Forward-looking statements generally can be identified by the use of
forward-looking terminology, such as "may," "will," "expect," "intend,"
"estimate," "anticipate," "believe," "project " or "continue" or the negative
thereof or other similar words. 314) Tel: +646-536-7006
dpasquale@theruthgroup.

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Ragnarok Online Becomes First Massively Multiplayer Online Role-Playing Game
(MMORPG) Ever Serviced in All Six Continents

SEOUL, South Korea, GRAVITY Co.

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Topics detailed in the report include the
following:

- Regional Internet and broadband market developments and analysis
- xDSL, Cable Modems, Fibre-to-the-home (FTTH), WiFi
- Growth in regional broadband penetration and availability (Trends,
Growth Patterns, Prospects )
- Major Broadband Service Providers
- Internet Access Locations and ISPs
- Censorship of the Internet in Middle East countries

Countries covered: Bahrain, Iran, Iraq , Israel, Jordan, Kuwait, Lebanon,
Oman, Qatar, Saudi Arabia, Syria, Turkey United Arab Emirates, Yemen

Extract:
Approximately half of Israel's households are subscribers to broadband but
research has shown that the majority of connections are in the sub-1Mb/s
range.gravity. The Ruth Group
Tel: 82-2-516-5438(Ext.

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com
Fax: +353 1 4100 980

CONTACTS:
In Korea: In the U.

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With Ragnarok Online now in 37
countries globally, the title is clearly established as one of the world's
most dominant games.:
Kwan Shik Seo, CFO David Pasquale, EVP
Gravity Co.

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Introduction[Top of Page]
Background:
For most of its history since independence from British administration in 1946, Jordan was ruled by King HUSSEIN (1953-1999).

Geography[Top of Page]
Location:
Middle East, northwest of Saudi Arabia
Geographic coordinates:
31 00 N, 36 00 E
Map references:
Middle East
Area:
total:
89,213 sq km
land:
88,884 sq km
water:
329 sq km
Area - comparative:
slightly smaller than Indiana
Land boundaries:
total:
1,619 km
border countries:
Iraq 181 km, Israel 238 km, Saudi Arabia 728 km, Syria 375 km, West Bank 97 km
Coastline:
26 km
Maritime claims:
territorial sea:
3 nm
Climate:
mostly arid desert; rainy season in west (November to April)
Terrain:
mostly desert plateau in east, highland area in west; Great Rift Valley separates East and West Banks of the Jordan River

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We are confident that our flagship title, Ragnarok Online , will
build a strong following as it has already worldwide.

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Actual results may differ materially from those discussed
in, or implied by, forward-looking statements.

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Sento is one of the largest distribution companies in
the Middle East, with well-established channels covering the Middle East and
North Africa. Ltd.

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The Company's principal product, Ragnarok Online, is
currently commercially offered in 20 markets.kr .

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Under the agreement, Gravity granted Sento Enterprises Limited exclusive
licensing rights to distribute Ragnarok Online in the Arab Emirates, Saudi
Arabia, Kuwait, Qatar , Bahrain, Oman, Yemen, Iraq, Syria, Egypt, Iran, Israel,
Lebanon, and Jordan.

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Gravity's Ragnarok Online Now in 37 Countries Worldwide

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Broadband was introduced into a number of Arab
countries last year and growth has or is set to take off in a few others,
namely Bahrain, Iran, Jordan and Turkey, attributed to tariff reductions and
recent government initiatives

For more information visit
http: //www. Ragnarok Online is now
serviced in total of 37 countries globally. We believe this is the
first online game ever serviced in the Middle East and Africa, becoming the
only online game serviced in all six continents, and we fully intend to make
it a winner., Ltd.

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researchandmarkets.
(Nasdaq: GRVY), a leading developer and distributor of online games, today
announced the launch of its hugely popular Massively Multiplayer Online Role-
Playing Game (MMORPG) Ragnarok Online into 14 new countries , making Ragnarok
Online, which is believed to be the first Massively Multiplayer Online Role-
Playing Game ever serviced in all six continents.
Based in Korea, Gravity is a leading developer and distributor of online
games worldwide.

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com/reports/c18855

Laura Wood
Senior Manager
Research and Markets
press@researchandmarkets., Ltd. We have proven time and again that we are able to match
our excellent online gaming content, global marketing expertise and technical
resources with top distribution companies on a region-by-region basis to
create a compelling and synergistic force.

Forward-Looking Statements:
Certain statements in this press release include forward-looking
statements within the meaning of the U.

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newscom.
David Woong-Jin Yoon, Chief Executive Officer of Gravity, stated, "This is
another impressive milestone for Gravity.