COMTEX Reports Quarterly Financial Results.

Business Editors/Hi-Tech Writers

ALEXANDRIA, Va.--(BUSINESS WIRE)--May 15, 2001

COMTEX News Network, Inc., (OTC BB:CMTX) today announced that its revenues for the third quarter of fiscal 2001, ended March 31, 2001, increased 28% to $4.3 million, from $3.4 million in the third quarter of last year.

For the nine months ended March 31, 2001, revenues were approximately $12.8 million, representing a 47% increase over the $8.7 million in revenues for the first nine months of fiscal 2000.

The Company earned net income of approximately $70,000 for the three months ended March 31, 2001, compared to net income of approximately $317,000 for the three months ended March 31, 2000. For the nine months ended March 31, 2001, the Company earned net income of approximately $670,000, compared to $860,000 for the comparable period of fiscal 2000.

The decline in net income is primarily due to increased expenses, partially offset by increased revenues and gross profit margins. These expense increases are generally due to the costs associated with improvements the Company has made in personnel, technology, product development and operations support. The increased expenses also include additional reserves for doubtful accounts, specifically in the Internet and personal investor client sectors, reflective of the Company's conservative accounting practices.

EBITDA consists of earnings before interest expense, interest and other income, income taxes and depreciation and amortization. EBITDA increased 11% to $1.20 million for the nine months ended March 31, 2001 compared to $1.08 million for the nine months ended March 31, 2000.

"We are pleased to have maintained top line growth from year to year and positive earnings in a very challenging market environment," said Charles Terry, President and CEO. "While the immediate outlook is no less challenging, as seen by the Company's consistent revenues on a quarter-to-quarter basis, it is clear that our business model is sustainable and capable of growth as the market stabilizes. COMTEX will continue to maintain high service standards, develop a range of new product offerings, and aggressively manage expenses."

COMTEX News Network, Inc. (OTC BB: CMTX), a full service, business-to-business infomediary, aggregates and redistributes diverse, real-time global news and information. COMTEX' innovative technology gathers nearly 20,000 stories a day from over 10,000 diverse, global sources to create its subject-specific, value-added headline and vertical-market news products for distribution to information services and re-distributors throughout the world, reaching millions of end users.

COMTEX' products include CustomWires(R), Newsroom Enhanced Products, News Solutions, Publisher Full-Feeds and Processing Services. Located in Alexandria, VA, COMTEX can be found on the World Wide Web at http://www.comtexnews.net.

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


                                   Three Months          Nine Months
                                      Ended                Ended
                                     March 31             March 31
                                  --------------       --------------
                                  2001      2000        2001    2000
                                 ------    ------      ------  ------

Revenues                         4,306      3,370      12,792   8,679
Operating Income                    83        352         684     943
                                --------------------------------------
Net Income                          70        317         670     860
                                --------------------------------------

Net Income Per Share
 Basic                           $0.01      $0.03       $0.07   $0.10
                                --------------------------------------
 Diluted                         $0.01      $0.02       $0.05   $0.07
                                --------------------------------------

Weighted Avg. Number Shares:
 Basic                          10,062      9,728      10,004   8,772
                                --------------------------------------
 Diluted                        13,271     13,016      13,629  12,483
                                --------------------------------------

Note: All product and company names may be trademarks or registered trademarks of their respective holders. Except for the historical information contained herein, this press release contains forward-looking statements including those about COMTEX' anticipated financial performance for the 2001 fiscal year, demand for the company's products, performance of the sales force, customer retention, etc.

These statements 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 and other risks, costs and delays associated with the start-up and operation of major capital projects, changing governmental regulations 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.