5Th Avenue Channel Announces Third Quarter and Nine Month 1999 Financial Results; Company Reports Record Revenues.

NORTH MIAMI, Fla.--(BUSINESS WIRE)--Nov. 18, 1999--

5th Avenue Channel Corp. (Nasdaq: FAVE) today announced financial results for its third quarter and nine months ended September 30, 1999.

Revenues for the third quarter of 1999 were $1.19 million, a three-fold increase from the $389,000 in the 1998 third quarter. The net loss for the quarter was $1.35 million, or $0.14 per share, compared with $734,307, or $0.08 per share, in last year's third quarter. The increase in the net loss is attributable to the significant investments that have been made in infrastructure and technology in preparation for the launch of the Company's web site and television channel.

For the nine months ended September 30, 1999, revenues were $2.9 million, a 177 percent increase over revenues of $1.1 million in the comparable period of 1998. The net loss for the nine month period was $3.75 million, or $0.39 per share, compared with $1.73 million, or $0.27 per share, in the comparable period in 1998.

"We dedicated the first half of this year to further refining our Internet and television strategy toward offering financial and entrepreneurial information, products and services," said Mel Rosen, chairman, president and CEO of 5th Avenue Channel. "We are very pleased to announce that we have begun to execute this strategy and have already made some significant headway with our first carriage agreement with Comcast, one of the largest cable operators in the United States. Once launched on Comcast, 5th Avenue's financial programming will reach 2.5 million viewers and we are looking to increase this number significantly by the first half of next year."

5th Avenue Channel Corp. intends to utilize the convergence of the Internet and television to deliver a comprehensive range of financial information, services and unique and high quality products. The Company runs 5thavenuechannel.com, its website for the acquisition and enjoyment of wealth, and is developing the 5th Avenue Financial Television/Internet Network and its Net Video Finance Service. The Company operates its Sales Division, which markets 5th Avenue's exclusive products to other websites, home shopping television channels and retail chains, as well as wireless cable television systems in Costa Rica and Wisconsin.

This press release contains forward-looking statements. 5th Avenue Channel's actual results may differ materially from the results discussed, implied or forecasted in the forward-looking statements. Further information on the factors that could affect the actual results of 5th Avenue Channel Corp. are included in its Report on Form 10-K for the year ended December 31, 1998, which is on file with the Securities and Exchange Commission. 5th Avenue Channel Corp. assumes no obligation to revise or update any forward-looking statements contained in this press release. -0- 388,984 1,226,144 1,055,470

Internet and

television 251,019 -- 250,745 --

----------- --------- ----g Expenses:

Selling, general

and adminision of debenture

discount (65,490) (106,208) (437,080) (175,560) Interest expense (121,398) (160,407) (327,101) (208,078) Interest inc07) $(3,754,380)$(1,729,523)