Bridge Technology Group LLC Announces Investment Opinion on AMBI Inc.

NEW YORK--(BUSINESS WIRE)--May 13, 1999--

Bridge Technology Group LLC Comments on AMBI's

Fiscal Third Quarter Results; Reiterates Buy Recommendation

Visit Bridge's Web Site at www.BridgeNYC.com for Detailed Report

Bridge Technology Group LLC released comments today on AMBI Inc. (Nasdaq: AMBI) following the release of AMBI's fiscal third quarter results. The full text of this report can be accessed at Bridge's web site, at www.BridgeNYC.com.

Excerpts from the report follow:

Earlier this week, AMBI reported very strong financial results: $7.4 million in revenues (38% quarter-over-quarter growth), $1.2 million in net income (128% quarter-over-quarter growth), and $2.1 million in EBITDA. The increase in EBITDA and net income is particularly impressive given increased SG&A expenses in support of the planned launches of AMBI's CardiaNutrition e-commerce business and the Heart's Content catalog business later this year. Despite six consecutive quarters of revenue and earnings growth, and a strong track-record of delivering on corporate milestones (be they corporate partnerships, strategic acquisitions, new products, etc.), we believe AMBI is still significantly undervalued versus its peer group, and we are reiterating our BUY recommendation.

- Strong Financial Results: AMBI has consistently posted solid

growth in revenues, cash flow and earnings. We believe that the

Company is well positioned to continue this trend in its last

fiscal 1999 quarter (ending June 30, 1999) and in fiscal 2000. To

supplement strong growth through current distribution channels

for its products (including the QVC shopping channel), AMBI is

preparing to launch its e-commerce website,

www.CardiaNutrition.com, and its Heart's Content catalog business

later this year. We think AMBI's products are particularly well

suited for the Internet, and expect strong interest and business

generation through this channel.

- Outperforming the Nutritional Foods/Products Sector: AMBI's

ability to post quarter after quarter of strong financial results

is a significant achievement - particularly in the nutritional

foods/products sector which has been underperforming recently. We

attribute AMBI's success to several factors: (1) truly

proprietary products (i.e. patented products), addressing

significant nutritional needs in cardiovascular and diabetic

markets, (2) clinical trials demonstrating safety and efficacy,

and (3) a management team that delivers (see below). And don't

forget that AMBI has been able to attract strong corporate

partners - American Home Products and QVC - that validate the

Company's strategy.

- Strong Management Team: AMBI's management team delivers on

milestones. Bridge Technology has covered -------- AMBI since

October 14, 1998 when we initiated coverage with a BUY

recommendation at $0.81. Since that time, AMBI's management has

delivered on every corporate milestone that it said it would -

corporate partnerships (American Home Products, Cultor Food

Science), acquisitions (Lite Bites - which also included a

relationship with QVC, on the heels of the very successful

Nutrition 21 acquisition), financial milestones (smartly

financing acquisitions, cleaning up outstanding convertible

preferred shares) and achieving consistent growth in revenues and

earnings. AMBI's management is now saying it will (1) launch an

e-commerce business, (2) launch a catalog business, (3) continue

to post strong growth in revenue and earnings, and (4) evaluate

additional accretive acquisitions. Based on past achievements, we

have reason to believe AMBI's management will continue to

deliver.

- Momentum Is Building: AMBI's stock has performed well recently,

with daily turnover increasing, and we believe it's poised for

continued appreciation. The stock was recently picked up by a

leading investment bank with a highly regarded research analyst

covering the nutritional products sector, and we believe that

this undervalued stock will now attract some of the more

aggressive institutional investors.

Bridge Technology Group LLC is a registered investment advisor focused on identifying emerging growth companies in the healthcare and information technology sectors that offer compelling investment opportunities over the long term. By providing comprehensive financial services, including corporate finance, M&A advisory, strategic partnering and communications consulting, the company positions itself to provide a fully integrated package of value-added services to emerging growth companies.

The information in this press release has been obtained from sources that Bridge Technology Group LLC believes to be reliable, but the Company does not guarantee its accuracy or completeness. Neither the information nor any opinion expressed constitutes a solicitation by Bridge Technology Group LLC for the purchase or sale of any securities. Bridge Technology Group LLC has performed investment banking, consulting or other services for AMBI and may solicit investment banking, consulting or other business from any company mentioned in this report. Bridge Technology Group LLC or persons associated with Bridge Technology Group LLC may at anytime be long or short any of the securities referred to herein and may make purchases or sales thereof while the Company's reports are in circulation or posted on the Bridge Technology Group LLC web site at www.BridgeNYC.com. This material, or any portion thereof, may not be reproduced without prior permission from Bridge Technology Group LLC. Bridge Technology Group LLC is not responsible for the contents of this document that is intended for electronic transmission and could be thus subjected to tampering or alteration. Copyright (c)1999 by Bridge Technology Group LLC. All rights reserved.