Blyth Holdings, Inc. announces fiscal year results.

FOSTER CITY, Calif.--(BUSINESS WIRE)--May 22, 1997--Blyth Holdings, Inc. (NASDAQ:BLYH) announced today financial results for the fiscal year ended March 31, 1997.

The company reported revenue of $10.4 million from its OMNIS Software operating subsidiaries, compared to $13.7 million for fiscal year ended March 31, 1996. The company will also amend its 10Q filings for quarters ended June 30, 1996, and September 30, 1996, in order to comply with a March 1997 Securities and Exchange Commission (SEC) position related to embedded beneficial conversion features in convertible debt. Including the resulting non-cash, non-recurring charge to interest expense of $1.2 million, the net loss for the fiscal year was $7.99 million, or 67 cents per share, compared to the net loss of $5.68 million, or 64 cents per share for the year ended March 31, 1997.

As the company indicated in its press release dated April 21, 1997, total revenue for the fourth quarter declined to $2.17 million from $2.4 million reported for the quarter ended December 31, 1996, and $3.4 million for the quarter ended March 31, 1996. The company reported a net loss of $2.99 million, or 18 cents per share, for the quarter ended March 31, 1997, compared to $1.43 million, or 12 cents per share, in the quarter ended December 31, 1996, and $975,000, or 10 cents per share, for the quarter ended March 31, 1996.

"As we said last month, these results were within our expectations and reflect the actions necessary to relaunch OMNIS Software," said Tim Negris, president and CEO of Blyth Holdings and OMNIS Software, Inc. "The reaction to the introduction of OMNIS Studio has exceeded our expectations, as demonstrated by the strong, positive feedback to our debut at the DB Expo conference during the week of May 12th. This is also evidenced by the increased number of hits on OMNIS Software's Web site, from 2,000 a week to 50,000 during the week of DB Expo. We have tremendous confidence in the underlying technology of OMNIS Studio and have invested in an aggressive global marketing campaign now underway to accelerate demand for this product family."

Blyth Holdings, Inc.

Blyth Holdings, Inc.'s OMNIS Software subsidiaries provide industry leading software tools and consulting services designed to build a software supply chain that ensures continuous enhancement of customer and partner applications. The company's products support the full life cycle of applications and are ideal for rapid development and deployment of sophisticated Web and client/server applications, providing true re-use of software objects and the unique ability to integrate objects from disparate programming languages. OMNIS Software is headquartered in Foster City, California, with international offices in England, Germany, The Netherlands and Scandinavia, and distributors throughout Europe, Asia Pacific and Latin America. Visit the OMNIS Web site at http://www.omnis-software.com . -0-

Note to Editors: OMNIS and OMNIS Studio are registered trademarks of OMNIS Software, Inc. All other products or service names mentioned herein are trademarks of their respective owners.

CONTACT: Blyth Holdings, Inc.

Pat McEntee, 415/571-0222

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Lois Paul & Partners

Ian Bain/Beth Trier, 415/286-3990

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