Interplay Entertainment plans placement of stock for up to €50 million

By Sheri Kasprzak

New York, Nov. 20 - Interplay Entertainment Corp. said it plans to raise between €20 million and €50 million in a private placement.

A Paris-based investment bank will conduct the offering, which will be aimed at non U.S.-based accredited investors.

The deal is set to close Dec. 31.

Proceeds will be used for the development of the company's multi-player online game Fallout. The rest will be used for general corporate purposes.

Located in Beverly Hills, Calif., Interplay develops and licenses entertainment software.

The company's stock remained unchanged at $0.025 Monday (OTCBB: IPLY).

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