Audio Book Club Inc. Announces Advisory And Technology Board.

BOCA RATON, Fla.--(BUSINESS WIRE)--April 16, 1999--

Audio Book Club, Inc. (AMEX:KLB) today announced that it has assembled an advisory board to further enhance its Internet Strategy.

The Advisory Board consists of five members each with unique capabilities that will enable Audio Book Club to further expand its online business through its soon-to-be-launched media portal website. The Advisory Board will work with Audio Book Club to vastly increase its online business and its strategic alliances on the Internet.

Norton Herrick, Chairman and CEO, stated, "With the implementation of our new advisory board, we now have additional talent which we will use to further assist in the development of a product and content-rich portal. We believe that the team's unique insight and technical knowledge will enable us to maximize our revenues by providing visitors a simple and entertaining way to browse, sample and purchase products from our vast selection of merchandise available on our sites, including www.audiobookclub.com, www.booksaloud.com, www.radiospirits.com, www.yesteryear.com and our media portal site to be launched this summer at www.mediabay.com."

The Board Members consist of Stephen McLaughlin, CTO Audio Book Club, Inc.; Timothy W. Mattox, Director, Enterprise System Group Strategic Planning for Dell Corporation (NASDAQ: DELL); John Ramsey, Chief Technology Officer for bidnow.com, Inc. (OTC BB: BIDN); Michael Schoen, Vice President at J.P. Morgan and Harvey Stober, Managing Partner at Greystone Partners, LP.

As previously announced, Stephen McLaughlin was recently named Executive Vice President and Chief Technology Officer at Audio Book Club, Inc. and will serve as the Advisory Board Chairman. The co-founder and former COO and CIO of NET Healthcare, Mr. McLaughlin is a recognized expert in Internet technology, management and marketing and has provided consulting services to Time Warner, Home Shopping Network, Arnold Schwarzenegger, and others. Mr. McLaughlin holds a degree in Computer Science and Engineering from the Massachusetts Institute of Technology and conducted research at the MIT media lab.

Timothy W. Mattox is a graduate of the Massachusetts Institute of Technology with a Bachelors/Masters degree in Electrical Engineering/Computer Science and holds a Master of Business Administration from Stanford Graduate School of Business. He currently serves as Director, Enterprise System Group Strategic Planning for Dell Corporation. Mr. Mattox began his career at Oracle Corporation (NASDAQ: ORCL) in 1989. In 1992, he was hired as a manager for Bain & Company, Inc. where his duties included analyzing the potential impact of the Internet on Bain's clients.

John Ramsey graduated from the Massachusetts Institute of Technology with a Bachelors/Masters degree in Computer Engineering. His background includes Senior Project Leader at Oracle Corporation (NASDAQ: ORCL) and Director of Software Engineering at Teltronics, Inc. His expert programming skills have enabled him to improve upon and develop new software, making him a valued member to any team.

Michael H. Schoen is a graduate of the Massachusetts Institute of Technology with a Bachelor of Science degree in Management from the Sloan School of Management. His areas of concentration were Corporate Finance and Strategy. Schoen, whose responsibilities at J.P. Morgan include management of debt capital raising transactions for a range of sovereigns and emerging international corporations, has played an integral role in several benchmark transactions including the recent $1 billion inaugural transaction for TPSA, the Polish phone company. In total, he has been involved with capital raising exercises of more than $12 billion during 1998.

Harvey Stober is the Managing Partner of Greystone Partners, L.P., a New York hedge fund. Mr. Stober's many contacts in the financial markets are expected to help increase the exposure of Audio Book Club, Inc. Mr. Stober was a Chemical Analyst at Dean Witter Reynolds, and was recognized as an "All Star Analyst" by the Wall Street Journal.

Audio Book Club, Inc. is the world's largest marketer of audiobooks through its membership club which markets and sells audiobooks via the Internet at www.audiobookclub.com and by mail order. Audio Book Club, Inc. is also a publisher of audio and video content including classic radio and video programs and markets and sells that content on audio cassettes, CDs and video cassettes via numerous distribution channels including the Internet, catalogues, radio shows, retail and other outlets. Since commencing operations in January 1994, Audio Book Club, Inc. has engaged in an aggressive membership recruitment program to establish a core Audio Book Club member base. Following its acquisition of the Columbia House Audiobook Club and Doubleday Direct's Audiobooks Direct division, Audio Book Club, Inc. will have a combined membership and customer database of approximately 2 million names.

Safe Harbor Statement Under The Private Securities Litigation Reform Act of 1995: The statements which are not historical facts contained in this press release are forward looking statements that involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. Such factors include, but are not limited to, the ability of the Company to successfully integrate the newly acquired businesses into its operations and the uncertainty regarding the actual effect of the acquisitions on the Company, risks relating to the Company's direct mail campaigns and its ability to retain members to its book club, risks relating to the Company's growth strategy, dependence on third party service providers, uncertainty of the scope of future product returns, collection and risks associated with selling products on credit, competition and other risks detailed in the Company's Securities and Exchange Commission filings. The words "believe" and "should" and similar expressions identify forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements which speak only as of the date the statement was made.