NCsoft Reports Earnings Results for Q1 2009

Company Exceeds Goals with Significant Increases Reported Quarter over Quarter
SEOUL, South Korea--(Business Wire)--
NCsoft Corporation (KSE: 036570.KS) today reported earnings results for 2009 Q1.
On a consolidated basis, sales came to KRW 133.4 billion ($USD 107.7
million/€EUR 79.2 million), operating profit KRW 42.5 billion ($USD 34.3
million/€EUR 25.2 million), and net profit KRW 33.5 billion ($USD 27.0
million/€EUR 19.9 million). Sales, operating profit, and net profit showed sharp
escalations with an increase of 34%, 221% and 422% respectively quarter over
quarter (QoQ).

NCsoft explained that substantial increase in profit was based on solid
maintenance of Lineage and Lineage II sales, in addition to Aion sales. The
decrease in marketing spend and the narrow increase in operating costs QoQ (6%)
resulted in the drastic growth of operating profit.

By region, first quarter sales came to KRW 89.2 billion in Korea ($USD 72.0
million/€EUR 53.0 million), KRW 10.8 billion in North America ($USD 8.7
million/€EUR 6.4 million) KRW 4 billion in Europe ($USD 3.2 million/€EUR 2.3
million), KRW 18.1 billion in Japan ($USD 14.6 million/€EUR 10.7 million), KRW
3.9 billion in Taiwan ($USD 3.1 million/€EUR 2.3 million), and KRW 7.4 billion
($USD 5.9 million/€EUR 4.3 million) from royalties. The successful launch of
Aion influenced sales growth in Korea and expected sales of the Lineage series
increased the significance of Japan. On the other hand, a decrease in Guild Wars
sales due to no retail expansion package releases this quarter led to a drop of
sales in the North American and European regions.

By game titles, sales of Lineage, Lineage II, Aion, City of Heroes, and Guild
Wars increased 23%, 33%, 34%, 5% and 3% quarter to quarter to KRW 29.4 billion,
KRW 41.1 billion, KRW 42.6 billion, 6.8 billion and KRW 4.3 billion
respectively.

NCsoft's CFO Jaeho Lee said, "Aion has solidified its position as a new growth
force without encroaching sales of the Lineage series. Starting with its service
in China in Q2, we are ready for a successful launch of this triple-A franchise
in Japan, Taiwan, North America and Europe within the second half of the year."

NCsoft is expected to carry out large-scale updates for Lineage and Lineage II
worldwide in the coming months. In Eastern territories NCsoft expects to begin
beta tests for Punch Monster, Dragonica,Steel Dog and Metal Black within the
year.

2009 Q1 Earnings Summary (Unit: KRW Mil)
Q1, 09 Q4, 08 Q1, 08 QoQ YoY
Sales 133,411 99,219 88,143 34% 51%
Operating Income 42,458 13,226 18,594 221% 128%
Pre-tax Profit 45,886 10,967 11,160 318% 311%
Net Income 33,541 6,423 8,074 422% 315%

About NCsoft

NCsoft, headquartered in Seoul, Korea, is the world's premier publisher and
developer of massively multiplayer online games, including the critically
acclaimed City of Heroes®, Guild Wars® and Lineage® franchises. NCsoft West is a
division of NCsoft that holds operating responsibilities for North America,
Europe, South America and Australia/New Zealand. More information can be found
at http://us.ncsoft.com/.

NCsoft, ArenaNet, Lineage, City of Heroes, Guild Wars, Aion and all associated
logos and designs are trademarks or registered trademarks of NCsoft Corporation.
All other trademarks are the property of their respective owners.

Note: 1USD = 1,238.04 Korean (South) Won (KRW); 1€ = 1,682.12 KRW

NCsoft Corporation
Brian Min, +82-2-2186-3330
IR Manager
brian@ncsoft.net

Copyright Business Wire 2009