COMTEX Announces 2nd Quarter Fiscal 2002 Financial Results.

Business Editors/Hi-Tech Writers

ALEXANDRIA, Va.--(BUSINESS WIRE)--Feb. 13, 2002

COMTEX News Network, Inc., (OTCBB:CMTX) today announced financial results for the second quarter ended December 31, 2001.

Revenues for the quarter were $3.2 million, operating income was $24,200 and net income was $3,000 ($0.0002 per share). Earnings before interest, taxes, depreciation and amortization ("EBITDA") was $303,700. For the comparable quarter of the prior fiscal year, revenues were $4.3 million, operating income was $114,800 and net income was $112,400 ($0.01 per share). EBITDA was $295,700.

For the six months ended December 31, 2001, revenues were $6.7 million, operating income was $114,100, net income was $72,400 ($0.01 per share) and EBITDA was $669,200. For the comparable period last year, revenues were $8.5 million, operating income was $287,200, net income was $285,600 ($0.02 per share) and EBITDA was $916,000.

The Company attributed the quarterly decline in revenue primarily to consolidation and business closings among personal investor sites and other "dot-com" clients which represent a portion of the COMTEX customer base. "In addition to weathering the worst of the dot-com storm, we have maintained positive cash flow, emerged with a stronger team, released improved products and have a more stable client base," said Charles Terry, President and CEO. "While we expect a continued struggle in the short term, we are well positioned and believe the opportunity for significant future growth is there and we are focused on capturing it."

COMTEX News Network, Inc. (OTCBB:CMTX) is a leading provider of real-time news products to online information retailers serving the financial services, individual and institutional investor and enterprise information markets.

COMTEX is a business-to-business "infomediary" receiving some 20,000 real-time news stories a day from over 70 news organizations and using internally developed technology to produce and instantly deliver customized news products to a network of reseller clients. COMTEX' published news products are available on more than 1,000 web sites and read by an estimated 20 million users.

Headquartered in Alexandria, VA, COMTEX can be found on the World Wide Web at http://www.comtexnews.net.

COMTEX News Network, Inc.
Selected Financial Data
(amounts in $000's, except per share amounts)

                              Three Months             Six Months
                            Ended December 31,      Ended December 31,
                            ------------------      ------------------
                              2001       2000         2001      2000

Revenues                    $ 3,198    $ 4,325      $ 6,662   $ 8,486
Gross Profit                  2,199      3,169        4,585     6,170
Operating Income                 24        115          114       287
Net Income                  $     3    $   112      $    72   $   286
                            ------------------      -----------------

Net Income Per Share
  Basic                     $0.0003    $  0.01      $  0.01   $  0.03
                            ==================      =================
  Diluted                   $0.0002    $  0.01      $  0.01   $  0.02
                            ==================      =================

Weighted Avg. # Shares:
     Basic                   10,445      9,983       10,322     9,976
                            ==================      =================
     Diluted                 12,925     13,815       12,988    13,800
                            ==================      =================

Except for the historical information contained herein, this press release contains certain statements relating to future events, which are forward-looking statements within the meaning of Section 21E of the Securities and Exchange Act of 1934, as amended. These forward-looking statements may be identified by reference to a future period by use of forward-looking terminology such as "anticipate," "expect," "could," "intend," "may" and other words of a similar nature. These statements are based on beliefs of company management, as well as assumptions and estimates based on current information available to the company, and involve risks and uncertainties that could cause actual results to differ materially from those contemplated herein, including the occurrence of unanticipated events or circumstances relating to the fact that COMTEX is in a highly competitive industry subject to rapid technological, product and price changes. Other factors include the possibility that demand for the Company's products may not occur or continue at sufficient levels, changing global economic and competitive conditions, technological risks and other risks and uncertainties, including those detailed in the Company's filings with the Securities and Exchange Commission. COMTEX undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.