Magnitude Engages Investment Banker Rodman & Renshaw.

Business Editors

CHESTER, N.J.--(BUSINESS WIRE)--July 12, 2001

Magnitude Information Systems, Inc., (OTCBB:MAGY) announced today the engagement of investment banker Rodman & Renshaw Inc., of New York ("Rodman").

Rodman will explore with its institutional clientele equity investment strategies as well as joint venture and strategic alliance assignments for Magnitude.

Now in it's "ramp-up" stage, Magnitude has selected Rodman following an exhaustive search within the banking community. In commenting about the new accord, Steven D. Rudnik, Magnitude's Chairman and CEO expressed his pleasure in joining forces with a strong institutional firm with an established

institutional equity track record. Mr. Rudnik stated, "We want to explore our financing options within the institutional marketplace and Rodman's strategic position in this arena will serve to enhance our options."

John Borer, III, CEO of Rodman commented, "After our preliminary due-diligence, we were, and continue to be, impressed with the accomplishments of Magnitude. They have invested time, money and other important resources to get to the one-yard line. Our job will be the final push. Rodman, with its well-recognized market niche, welcomes Magnitude to our already long list of satisfied corporate clients."

About Magnitude Information Systems, Inc.

Magnitude Information Systems, Inc., the pioneer in the Ergonomic Productivity Software (EPS) market, has created the most advanced Ergonomics software that has been designed, developed, tested, and patented at a cost of US$10 million and more than 18 man-years of development effort. A research-driven software provider, the company delivers innovative, easy to use software solutions to the computerized marketplace that measurably and dramatically:

- reduces computer-use injury risk factors, reducing both absenteeism in the
workplace and the high cost of hiring and training temporary labor to replace
existing injured skilled labor.

- increases the accuracy of computer users, reducing staffing needs and
increasing quality of output and productivity.

- reduces computer-related injuries for users, reducing the high cost of
insurance premiums.

About Rodman & Renshaw Inc.

Rodman, is an investment-banking boutique with a history dating back to 1951. Rodman focuses on both domestic and international dynamic, middle market companies with excellent growth prospects. Rodman, active primarily in the institutional sector, believes that the need has emerged in the corporate finance marketplace for a firm that will provide quality service to small public and private companies. Rodman offers a full range of services beyond investment banking including sales, trading and research, components that many of their competitors lack. The research component is looking for growth stories with concrete earnings and endeavors. They generate quality research report on those companies, which Rodman believes is "unique". Research shared with a select institutional clientele provides significant added value when compared to larger capitalization of underwritten driven research coverage.

For additional information please call Magnitude or visit their website at www.magnitude.com. An investor package can also be obtained through its Public Relations/Corporate Development Consultants firm, Consulting For Strategic Growth, Ltd., 800-625-2236.

This press release contains forward-looking statements that, if not verifiable historical fact, may be viewed as forward-looking statements that could predict future events or outcomes with respect to Magnitude Information Systems, Inc., and its business. The predictions embodied in these statements will involve risks and uncertainties and accordingly, Magnitude Information Systems' actual results may differ significantly from the results discussed or implied in such forward-looking statements.