BYRON PREISS MULTIMEDIA COMPANY, INC. REPORTS FIRST QUARTER RESULTS

NEW YORK, May 15 /PRNewswire/ -- Byron Preiss Multimedia Company, Inc. (Nasdaq: CDRM) today reported Net Revenues of $644,691, a Gross Profit of $316,163 and an Operating Loss of $559,155 for the first quarter ended March 31, 1996, as compared to Net Revenues of $264,032, a Gross Profit of $56,881 and an Operating Loss of $563,559 for the same period ended March 31, 1995.

During the first quarter ended March 31, 1996 the Company did not release any new CD-ROM titles. However, under the Company's agreement with Marvel Entertainment Group (NYSE: MRV), it published three books including "Daredevil: Predator's Smile," "Stan Lee's Riftworld: Odyssey" and "X-Men: Mutant Empire Book 1 Siege." The Company is planning to release approximately sixteen new CD-ROM titles during the year and expects to record the majority of its CD-ROM sales during the third and fourth quarters of 1996. The CD-ROM titles under development at this time for release in 1996 include "Scientific American Library's The Universe;" "Scientific American Library's Illusion;" "Total Television;" "American Heritage: Lincoln;" "American Heritage: History of the United States for Young People;" "The Twelve Circus Rings;" "My Cool Diner;" "Inside/Outside World Tour Game;" "Spider-Man: The Sinister Six;" "Private Eye Game;" "Westworld 2000" and a Forbes business simulation game. Recently released was the CD-ROM title: "Tim McCarver's The Way Baseball Works," co-published with Simon & Schuster Interactive.

As previously announced during the first quarter the Company has been selected as one of the first developers to work with Intel to implement a title using Intel's new MMX technology and will be compatible with Digital Video Disc (DVD) drives. The first title under this program will be "Timetables of Technology," which will be co-published by Simon & Schuster Interactive (SSI) and will be offered this year to OEM's by Intel for resale with their first computer systems to support Intel's MMX technology.

In April 1996 the Company announced its intention to expand its on-line services to launch "Camp Virtual," the first kids camp on the Internet. Camp Virtual will be an easy-to-access World Wide Web-based service that lets users play games and enter contests to win real prizes, interact with other campers in chat rooms and read stories. As part of the Company's plans for foreign distribution during the first quarter the Company entered into an agreement with Macmillan Publishing Company, one of England's largest publishers, for distribution of certain titles from the Company's critically acclaimed Digital Bauhaus imprint, including "The Ultimate Einstein" and "Scientific American Library's The Planet."

At this time the Company is planning to release approximately seven more books during the year including "Spider-Man & The Hulk: Rampage;" "Spider-Man: Goblin's Revenge;" "Spider-Man: The Octopus Agenda;" "The Ultimate Super-Villains" and "The Ultimate X-men."

Founded in 1992, Byron Preiss Multimedia Company, Inc. develops and publishes high-quality multimedia software and on-line services and books for the consumer, education, and small business markets. The Company's titles are published under six distinct imprints. Digital Bauhaus for innovative non-fiction; Brooklyn Multimedia for interactive games; Crayon Multimedia for children; 21st Century Classics for multimedia literature; Arts and Commerce for desktop tools and toys; and Virtual Comics for the electronic delivery of interactive comics.

                   BYRON PREISS MULTIMEDIA COMPANY, INC.
                           Summary of Operations
                         For the Three Months Ended
                                 March 31,
                                         1996           1995
    Net revenues                      $ 644,691      $ 264,032
    Gross profit                        316,163         56,881
    Loss from operations                559,155        563,559
    Net loss                            506,114        521,759

Net loss per weighted

     average shares outstanding            $.12           $.15

Weighted average

     shares outstanding               4,261,875      3,494,738
    -0-                         5/15/96

/CONTACT: James R. Dellomo, CFO of Byron Preiss Multimedia Company, 212-989-6252, ext. 132; or Melissa Krantz of The Krantz Group, Inc., 212-891-7235/

(CDRM MRV)

CO: Byron Preiss Multimedia Company, Inc.; Marvel Entertainment Group ST: New York IN: CPR PUB SU: ERN

ES-MP -- NYW040 -- 0181 05/15/96 09:25 EDT