Computer Concepts Corp. Reports Net Profit for Three and Six Months Ended June 30, 1999.

BOHEMIA, N.Y.--(BUSINESS WIRE)--Aug. 13, 1999--

Computer Concepts Corp. (NASDAQ: CCEE) today announced its financial results for the three and six months ended June 30, 1999. The Company reported net income of $8,068,000 for the three month period ended June 30, 1999, an increase of $6,674,000 over the same period last year. Net income for the six months ended June 30, 1999, of $2,717,000 exceeded the six-month period ended June 30, 1998, by $4,875,000.

Effective April 1, 1999, the Company's ownership of its Softworks, Inc. ("Softworks") subsidiary fell below 50.0%. Accordingly, Softworks is accounted for as a consolidated subsidiary through March 31, 1999, and commencing April 1, 1999, Softworks' results have been accounted for applying the equity method of accounting. During the three-month periods ended June 30, 1999 and 1998, the Company reported net gains from the sale of Softworks common stock of $14,410,000 and $6,627,000 respectively. During the six-month periods ended June 30, 1999 and 1998, the Company reported net gains of $16,441,000 and $6,627,000 respectively. The Company's ownership interest in Softworks was reduced to 38% as of June 30, 1999.

The following discussion of revenue reflects Softworks accounted for using the equity method (i.e. excludes Softworks' revenue) for all periods on a consistent basis. Revenue for the three and six-month periods ended June 30, 1999, was $9,645,000 and $13,355,000, respectively. Revenue for the three and six-month periods ended June 30, 1998, was $2,433,000 and $3,461,000, respectively. As such, on a pro-forma basis, the Company had increases in revenue of $7,212,000 and $9,894,000 respectively.

Basic and diluted earnings per share for the three and six-month periods ended June 30, 1999, of $0.39 and $0.13, exceeded the same periods last year by $0.30 and $0.28, respectively.

The financial information stated above and in the tables below has been abstracted from the Company's Form 10-Q for the quarterly period ended June 30,1999, filed with the Securities and Exchange Commission on August 13, 1999, and should be read in conjunction with the information provided therein.

     Summarized Financial Information as if Softworks was accounted
for using the equity method is presented below:

BALANCE SHEETS                      June 30, 1999   December 31, 1998
(Unaudited)                            (Actual)       (Pro-forma)

Cash                                 $15,406,000       $ 2,173,000
Total Current Assets                  26,011,000        25,460,000
Total Assets                          43,483,000        43,733,000
Total Current Liabilities              4,586,000         9,673,000
Total Shareholders' Equity            38,876,000        34,016,000
Working Capital                       21,425,000        15,787,000


STATEMENTS     FOR THE THREE FOR THE THREE FOR THE SIX   FOR THE SIX
OF OPERATIONS  MONTHS ENDED  MONTHS ENDED  MONTHS ENDED  MONTHS ENDED
(UNAUDITED)       (Actual)    (Pro-forma)   (pro-forma)   (Pro-forma)
               June 30, 1999 June 30, 1998 June 30, 1999 June 30, 1998
               ------------- ------------- ------------- -------------
Revenue        $  9,645,000  $  2,433,000  $ 13,355,000  $  3,461,000
Operating Loss   (6,244,000)   (4,892,000)  (13,646,000)   (7,635,000)
Other Income (1) 14,312,000     6,286,000    16,378,000     5,477,000
Net Income (loss) 8,068,000     1,394,000     2,717,000    (2,158,000)
Basic and
 Diluted net
 income (loss)
 per share     $       0.39  $       0.09  $       0.13  $      (0.15)

(1)  Primarily relates to the gain on sale of Softworks common stock.

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The preceding release may contain 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 Securities and Exchange Commission filings. There can be no assurances that future results will be achieved, and actual results could differ materially from forecasts and estimates. The Company's future operating results will be achieved, and affected by a number of other factors including, but not limited to: uncertainties relative to global economic conditions; changing marketing and economic conditions; the Company's ability to successfully maintain or increase market share in its core business while expanding its product base into other markets; timely roll-out of its products by licensees; the Company's ability to manage fixed and variable expense growth relative to revenue growth and acceptance of the Company's Internet based d.b.Express and ComputerCOP technologies. Quarterly results are not necessarily indicative of annual results and substantial variances may occur from quarter to quarter.

Computer Concepts Corp. develops software tools, including d.b.Express(TM), that assist end users in the retrieval and visualization of all types of data, and is an IBM Business Partner-Personal Computer Resellet. Computer Concepts' d.b.Express Internet Information Server(TM) has been licensed by British Telecom, and has been integrated with British Telecom's Syncordia Services C-View software application which will allow BT's customers to access and analyze the high volumes of technical and account information available within BT's Internet based databases without having to download the data to their own computers. The new d.b.Express Internet Information 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. Computer Concepts' Server Farm technology, introduced in May, 1998, with an initial processing level of 30 million telecommunications call detail records per month, is currently processing in excess of 150 million call detail records for its Fortune 100 clients. Its latest software offering, "Bo Dietl's One Tough ComputerCOP(TM)", is designed to assist parents, and others, who have little or no computer knowledge, monitor what their children are exposed to on the Internet.

Located in Bohemia, New York, Computer Concepts and its subsidiaries employ a staff of 85. For more information about Computer Concepts, call [phone] or visit Computer Concepts' web site at www.computerconcepts.com.