GLENDALE, Calif.--June 20, 2002--Phantagram Interactive announced today that it will develop and publish a Massively Multiplayer Online Game (MMOG) based on "Crouching Tiger, Hidden Dragon." Set to release in Q4 of 2004, the game will shift the paradigm in MMOG as the game play will focus on fast-paced, Kung-Fu-style fighting with a deep storyline to immerse players in the world of the "Crouching Tiger, Hidden Dragon."

"We are very excited to bring this unique property to life in the form of a MMOG that will redefine the genre," said Sangyoun Lee, Chairman and CEO of Phantagram Interactive.

The company plans to launch a Web site with more details of the game in the coming months.