Bell Emergis/MPACT Immedia Releases Preliminary Estimates -- Streamlines Cost Structure and Positions Itself for 1999.

MONTREAL--(BUSINESS WIRE)--Jan. 21, 1999--In advance of its Annual Shareholder Meeting today, Bell Emergis/MPACT Immedia (TSE:IFM)(ME:IFM), one of the leading electronic commerce service providers in North America, indicated that it will announce both its results for the three-month period ended November 30, 1998 as well as the audited four-month fiscal year ended December 31, 1998 by January 29. In the interim, it has released preliminary figures for these periods. As previously indicated, Bell Emergis/MPACT Immedia changed its year-end to December 31st, to be aligned with BCE and Bell Canada. These figures represent the combined figures of the former Electronic Business Solutions (EBS) division of Bell Emergis and MPACT Immedia.

Bell Emergis/MPACT Immedia expects to announce revenues in the area of $25 million for the three-month period ended November 30, and $36 million for the four-month period ended December 31, 1998.

The Company anticipates an operating loss for the three-month period of ($2.5) million and a comparable number for the four-month period of ($2.7) million. These figures exclude a one-time merger rationalization charge of an anticipated $12 million and are before interest, taxes, depreciation and amortization.

"This has been an exciting period for the Company. We have restructured the business, focused on network-centric electronic commerce solutions, spent considerable time and effort in rationalizing product lines and vertical channels, combined the two workforces, and integrated facilities. In particular, we have streamlined our cost structure and this will benefit us significantly as we go forward in 1999," said Brian Edwards, president and CEO of MPACT Immedia.

Edwards continued, "While our primary focus was to reorganize, streamline and position us for the future, we were still able to achieve strong revenue growth, in particular when comparing the anticipated December revenue level over the quarterly figure. This trend is further amplified when viewing the EBITDA forecasted loss for the quarter as compared to that for December. We are extremely pleased with these trends."

The Company recorded several notable achievements during this quarter, in particular the acquisition of Newstar Technologies' e-Finance division. This transaction positions Bell Emergis/MPACT Immedia as the top electronic commerce service provider to Canadian banks.

The Company also concluded significant marketing transactions. On September 1st, Bell Emergis/MPACT Immedia became the first service provider in Canada to be certified for the Automotive Network Exchange (ANX), a breakthrough in extranet technology. The Company also signed an agreement with Speedy Title and Appraisal Review Services, a subsidiary of Cendant Corporation, to provide e-commerce services to one of the largest providers of mortgage funds in the United States, Cendant Mortgage.

In addition, Bell Emergis/MPACT Immedia signed a key partnership with Entrust, to provide Entrust-based Certification Authority (CA) services worldwide through Emergis' OnWatch(TM) Service, and a strategic alliance with Tele-Direct, who will utilize the Emergis @Commerce Solution for Yellow Pages(TM) e-commerce initiatives.

MPACT Immedia Corporation delivers network-centric electronic commerce solutions that improve customer processes. Its complete e-commerce business solutions enable organizations to better compete in the global marketplace. Following its recently concluded merger with the Electronic Business Solutions (EBS) unit of Bell Emergis, the combined entity is one of the top tier electronic commerce providers in the world. Bell Emergis/MPACT Immedia is a subsidiary of Bell Canada, the largest Canadian telecommunications operating company. For more information, please refer to www.mpactimmedia.com or www.bell.ca/netcommerce.