THQ PRESIDENT RUBIN STATEMENT ON WELLS FARGO CREDIT PACT
AGOURA HILLS, Calif., Nov. 13, 2012 -- THQ Inc.<http://www.thq.com/us/> (NASDAQ: THQI) President Jason Rubin today provided the following statement with regard to the company's credit facility with Wells Fargo.
"As indicated in our quarterly report (10-Q) filed today, THQ is in discussions with Wells Fargo to resolve an issue with regard to our credit agreement. We believe we will reach an agreement on this matter with Wells Fargo. The issue stems from a relatively small amount borrowed against the credit facility in mid-October 2012, which was subsequently repaid in full. THQ currently has $16.4 million outstanding on its facility, which is unchanged since we released second quarter earnings."
THQ Inc.<http://www.thq.com/us/> (NASDAQ: THQI) is a leading worldwide developer and publisher of interactive entertainment software. The company develops its products for all popular game systems, personal computers, wireless devices and the Internet. Headquartered in Los Angeles County, California, THQ sells product through its global network of offices located throughout North America and Europe. More information about THQ and its products may be found at http://www.thq.com/.
THQ Inc. Caution Concerning Forward-Looking Statements
This media alert contains statements that are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations, estimates and projections about the business of THQ Inc. and its subsidiaries (collectively referred to as "THQ"), including, but not limited to, expectations and projections related to the distribution agreement between THQ and All Interactive Entertainment. These statements are based upon management's current beliefs and certain assumptions made by management. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, including, but not limited to, business, competitive, economic, legal, political, and technological factors affecting our industry, operations, markets, products, or pricing. Readers should carefully review the risk factors and the information that could materially affect THQ's financial results, described in other documents that THQ files from time to time with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal period ended March 31, 2012 and subsequent Quarterly Reports on Form 10-Q, and particularly the discussion of trends and risk factors set forth therein. Unless otherwise required by law, THQ disclaims any obligation to update its view on any such risks or uncertainties or to revise or publicly release the results of any revision to these forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.