GRAVITY Schedules First Quarter of 2007 Conference Call


SEOUL, South Korea, July 16, 2007 (PRIME NEWSWIRE) -- GRAVITY Co., Ltd. (Nasdaq:GRVY) (the "Company"), an online game developer and publisher based in South Korea, today announced that it will hold a conference call to discuss the Company's financial results for the first quarter ended March 31, 2007 on Tuesday, July 17, 2007 at 8:00 P.M. U.S. Eastern Standard Time (Wednesday, July 18, 2007 at 9:00 A.M. Seoul time). Chief Financial Officer and Investor Relations Officer Jonathan J. Lee will be on the call to discuss the first quarter 2007 results and answer questions.

To participate in the conference call, please dial one of the following numbers 10 minutes prior to the call with a verbal pass code VL60201:

U.S. Toll Free Number: 1-877-546-7360

South Korea Toll Free Number: 00-30-813-1931

International Access Number: +1-302-607-2001

About GRAVITY Co., Ltd.

Based in Korea, Gravity is a developer and publisher of online games. Gravity's principal product, Ragnarok Online, is a popular online game in many markets, including Japan, Taiwan and Thailand, and is currently commercially offered in 22 markets. For more information about Gravity, please visit http://www.gravity.co.kr.

Forward-Looking Statements:

Certain statements in this press release may include, in addition to historical information, "forward-looking statements" within the meaning of the "safe-harbor" provisions of the U.S. Private Securities Litigation Reform Act 1995. Forward-looking statements can generally 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, although not all forward-looking statements contain these words. Investors should consider the information contained in our submissions and filings with the United States Securities and Exchange Commission (the "SEC"), including our registration statement on Form F-1, as amended, and our 2005 and 2006 annual reports on Form 20-F, together with such other documents and we may submit to or file with the SEC from time to time, on Form 6-K. The forward-looking statements speak only as of this press release and we assume no duty to update them to reflect new, changing or unanticipated events or circumstances.

This release can also be viewed at http://www.pressreleasenetwork.com/newsroom



            

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