Computer Concepts Corp Sells ComputerCop Subsidiary for $35.5 Million Stock Transaction With Netwolves Corporation and Declares $2 Million Dividend.

Business Editors

BOHEMIA, N.Y.--(BUSINESS WIRE)--February 16, 2000

Computer Concepts Corp (NASDAQ Small Cap: "CCEE") announced that it sold its wholly owned subsidiary, ComputerCop Corp., to Netwolves Corporation (WOLV) in exchange for 1,775,000 shares in a transaction valued at $35.5 million. Netwolves shares closed Tuesday February 15, 2000, at $22.375. ComputerCop Corp.'s assets included approximately $20.5 million and the ComputerCop technology.

Netwolves Corporation is an Internet systems developer that has designed and developed a multi-functional product that is a secure integrated , modular Internet gateway. Its primary product line, the "FoxBox"is an Internet multi-services communication gateway or Internet server appliance, a new category of network infrastructure devices. The FoxBox offers an easy to set-up, use and manage Internet access which supports multiple users through a single connection and, among other things, provides the user the ability to have thousands of e-mail accounts costs free, a network file server, three stage firewall security, web and DNS caching, site access filtering, file serving and file sharing and reporting/logging of Internet use activity. Netwolves customers include Fortune 500 companies. Representative competitors in the Internet server appliance arena include Cobalt Networks, Inc. ("COBT"), eSoft, Inc., ("ESPT"), Netopia,Inc. ("NTPA") and Ramp Networks, Inc. ("RAMP").

As previously announced by Daniel DelGiorno, President and C.E.O., the company retained Raymond James & Associates, Inc. to assist the company in its consideration of alternatives to maximize shareholder values, including the sale of assets or business lines, acquiring or developing assets which the Board believes have a potential for appreciation, and making distributions to its shareholders. Following receipt of a fairness opinion from the company's investment bankers, the company elected to move forward with this transaction into the emerging Internet server appliance sector." He further noted that Dataquest, an industry research firm, expects the server appliance sector to grow from $2.2 billion in 1999 to $15.8 billion in 2003.

Additionally the company announced it is declaring a $2 million dividend to its shareholders of record as of March 15, 2000, payable on May 1, 2000.

This release contains forward looking statements which are based on current information and on management assumptions, and are subject to other important factors disclosed from time to time in the company's Form 10-K and Form 10-Q, Registration Statements and other Security and Exchange Commission filings including specifically, among other factors, changing marketing and economic conditions, adoption and timely roll-out of its products by licensees and acceptance of the company's Internet based d.b.Express software and the success of technologies and the company's investment holdings. Quarterly results are not indicative of annual results and substantial variances from quarter to quarter may occur. Actual results may differ materially from any forward-looking statements in the release.

Computer Concepts develops software tools including d.b.Express that assist end users in the retrieval and visualization of all types of data with an application focus in the telecommunications billing and call detail market. The d.b.Express Internet Server(TM) and JAVA Applet have overcome a major Internet problem, that of high data volume and limited bandwidth, currently responsible for the lengthy delays associated with data downloading. For more information about Computer Concepts, call [phone] or visit Computer Concepts' web site at www.computerconcepts.com.