APPLETREE ART PUBLISHERS Makes Announcement.

NANUET, N.Y.--(BUSINESS WIRE)--Feb. 24, 1998--APPLETREE ART PUBLISHERS, INC. (Appletree) (OTC symbol: APTR). Fiscal 1998 first quarter unaudited revenues for the three-month period ended Dec. 31, 1997 show a 340% increase as compared to the same period for 1996.

Increased sales of Greenapple greeting card franchises and increased sales of greeting cards due to growth from approximately 4,500 to over 5,500 retail outlets serviced by Greenapple's distributors contributed to the revenue increase. A substantial portion of the increase is also attributed to acquisitions of the Five and Dime collectible and novelty gift company consummated in November 1996, and the acquisition of Sarsaparilla Deco Designs in August 1997, which produces upscale American made metal products from molds of antique reproductions and Art Deco designs.

Several national chain and major theme parks such as Universal Studios, Disneyworld, The Nature Company, Colorado Pen, Discovery Channel and Bath and Body Works are currently carrying the company's products. One of the most popular products is featured on the cover of "Sky Mall" magazine, a catalog distributed by the major airlines. The company is also designing new products for national accounts and expects to expand this line of business.

CONTACT: Robert Iommazzio, CEO 

914/623-0553