R.O.S.E. Online Enters Europe! 
 
Seoul, South Korea – June 20, 2005 – GRAVITY Co., Ltd. (Nasdaq: GRVY), a  
leading developer and distributor of online games, today announced that R.O.S.E 
Online, the second massive multiplayer online role-playing game (MMORPG)  
published by Gravity after Ragnarok Online, will now be available in 17  
European countries through an agreement with Gamesrouter. Under this agreement, 
Gravity granted Gamesrouter exclusive licensing and merchandising rights to  
distribute R.O.S.E Online in Europe.  Gamesrouter is a subsidiary of QGO, a  
British BT Investment corporation, which currently services in Europe ‘The  
Legend of Mir 3’ developed by Wemade Entertainment.  
 
Through this agreement, R.O.S.E Online will be available in 17 European nations 
(England, Norway, Sweden, Finland, Holland, Iceland, Gibraltar, Greece, Turkey, 
Cypress, Malta, Poland, Denmark, France, Belgium, Switzerland and Luxemburg).   
 
David Yoon, the CEO of Gravity commented, “We continue to roll out R.O.S.E  
Online into these 17 nations as we work to build our market share worldwide.   
We plan to leverage the ‘Korean Wave Syndrome’ in Eastern Asian online gaming  
markets with our R.O.S.E Online into the European online gaming market.”  We  
believe this should give us and our R.O.S.E. Online title a competitive  
advantage in the European online gaming market.”  
 
About GRAVITY Co., Ltd. 
Based in Korea, Gravity is a leading developer and distributor of online games  
worldwide.  The Company’s principal product, Ragnarok Online, is currently  
commercially offered in 20 markets.  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. For more 
information visit www.gravity.co.kr. 
 
Forward-Looking Statements: 
Certain statements in this press release include forward-looking statements  
within the meaning of the U.S. 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.  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. Actual results may differ materially from those discussed  
in, or implied by, forward-looking statements. 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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CONTACTS:	 
In Korea: 
Kwan Shik Seo, CFO 
Gravity Co. Ltd. 
Tel: 82-2-516-5438(Ext. 314) 
ksseo3311@gravity.co.kr	 
 
In the U.S.: 
David Pasquale, EVP  
The Ruth Group 
Tel: +646-536-7006 
dpasquale@theruthgroup.com