Gravity Enters Into a Publishing Agreement for 'Time N Tales' With Ndoors, the 
Developer of 'GOONZU' 
 
SEOUL, South Korea, November 9, 2005.  GRAVITY Co., Ltd. (NASDAQ: GRVY) 
 
GRAVITY Co., Ltd. (“Gravity”) announced on November 9, 2005 that it has 
entered into an publishing agreement with NDOORS Co., Ltd., 
http://www.ndoors.net, a game developer, to publish the Time N Tales (“TNT”) 
game worldwide.  TNT is a new DRTRPG (Dramatic Real-time Tactics Role Playing 
Game) developed by Mr. Tae Gon Kim, who was also responsible for developing 
other popular online games such as “IMJINROK”, “GEOSANG” and “GOONZU”.   
 
TNT is a multi-character battle game, which allows game users to develop 
characters in the course of stand-alone omnibus style episodes and add and 
develop historical heroes into their teams. TNT departs from the simple battle 
styles found in other MMORPGs and allows for strategic real-time battles with 
up to 6 characters.  Also, game users can choose to move from country to 
country or between different time periods according to their preferences, 
because each episode allows users to freely change the screen, the setting and 
the time periods for the game. 
 
With this agreement to publish TNT in place, Gravity is now able to present a 
broader line-up at the 2005 G-STAR, which will include Ragnarok On-line, 
Ragnarok On-line2, Requiem, Ragnarok mobile, STYLIA, Rose On-line and Paper 
Man.  At the upcoming G-STAR, there will be a press conference to discuss TNT 
and a presentation of the game by the Chief Technology Officer of NDOORS, Mr. 
Kim Tae Gon, who was responsible for developing TNT.  
 
Gravity’s Chief Executive Officer, Ryu Il Young, stated, “I expect that by 
combining global marketing know-how of Gravity and competitive game contents 
of NDOORS, strong synergistic effects will be achieved and both sides will 
realize a win-win situation. Gravity will continue to strengthen its 
publishing business by obtaining quality game contents and try to contribute 
to the development of the game industry by continuous investment.” 
 
NDOOR’s Chief Executive Officer, Kim Hwa Soo, noted, “I put accumulated 
on-line game development know-how acquired through Geosang and GOONZU into the 
development of TNT.  TNT represents an ambitious project of NDOORS following 
the GOONZU game, and users will experience fun, which could not be found in 
other previous games.  Together with Gravity, which possesses a strong network 
and outstanding marketing competence in the global market, I will do my best 
for the sake of the success of TNT.” 
 
About GRAVITY Co., Ltd. 
 
Founded in April 2000 during the early stages of the development of the online 
game industry in Korea, Gravity is an online game company, which is the only 
Korean company that has its shares listed solely on the Nasdaq. Gravity 
develops and distributes Ragnarok Online, a massively multiplayer online role 
playing game with the largest user base globally.  Gravity is in the process 
of developing games which will succeed Ragnarok Online, namely Ragnarok Online 
II and Requiem.  Also, Gravity is developing and distributing a wide range of 
casual games, including massively multiplayer online role playing games, using 
its global network built on the success of Ragnarok Online.   
 
About Ndoors Co., Ltd. 
 
Founded originally as Intizen Co., Ltd., an Internet community and portal 
site, the company’s trade name was changed to NDOORS in November 2004 to 
transform the company into a developer of online games and related service 
provider.  NDOORS has developed and currently provides the popular online game 
“Goonzu”, an RPG which focuses on themes based on politics and economics. 
NDOORS is currently developing “Goonzu Battle”, a battle RPG, “Time N Tales” a 
DRTRPG, “Kungpa”, a war action game, as well as educational casual RPGs, 
strategic simulation game and a sports game.  
 
 
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  
1995. 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. 
 
 
CONTACTS FOR GRAVITY:	 
 
In Korea: 
John C. Chung 
GRAVITY Co. Ltd. 
Tel: +82-2-3485-1002 
chchung@gravity.co.kr 
 
In the U.S.: 
David Pasquale, EVP 
The Ruth Group 
Tel: +1-646-536-7006 
dpasquale@theruthgroup.com