Zane Interactive Publishing, Inc. Acquires Three British Internet & Software Companies, Emerges From Chapter 11, Issues Stock, and Completes Reverse Stock Split.

Business Editors

DALLAS--(BUSINESS WIRE)--May 8, 2000

Zane Interactive Publishing, Inc. (OTCBB:ZANEE) today announced it has simultaneously completed the acquisition of three established British Internet and software companies, it (and its wholly-owned subsidiary Zane Publishing, Inc.) has emerged from Chapter 11, and it has issued stock and completed a reverse stock split per the provisions of its Plan of Reorganization.

With the completion of these acquisitions and its restructuring, Zane will now focus upon using its extensive library of grades PreK-12+ educational and reference software titles as a foundation to become a leading content publisher, aggregator and supplier to the U.S., European, and International markets. According to President Reed F. Bilbray, "the company has identified opportunities to make its content available to established Internet, interactive television, cable, broadband and wireless operators around the world, while continuing to develop and publish educational and reference products for students and teachers."

British-based businessman Nicholas Tee has acquired approximately 86% of Zane's stock via a reverse merger of his three Internet and software companies into Zane. In addition to its wholly-owned U.S. subsidiary, the well known educational software publisher Zane Publishing, Inc., Zane now has three new wholly-owned British subsidiaries: Yorkdale, Ltd., the owner of an Internet shopping portal and specialized European Internet search engine, Mayflower Computers, Ltd. (d/b/a CD Imports) a specialist European software distributor, and Megarom Publishing, Ltd., a specialist software publisher.

Zane (and its wholly owned subsidiary Zane Publishing, Inc.) has also officially emerged from bankruptcy in accordance with the provisions and requirements of its confirmed Plan of Reorganization, as modified, in In re: Zane Interactive Publishing, Inc. Case No. 398-39860 in the jointly administered cases of Zane Publishing, Inc. Case No. 398-39859, IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF TEXAS, DALLAS DIVISION. The order of confirmation was entered on January 21, 2000 and all closing requirements were met on May 4, 2000.

Zane issued common shares held in escrow on April 20, 2000 as part of the company's Plan of Reorganization. On May 4, 2000, all conditions to release the escrow were met. As a result the company has issued a total of 21,785,350. The number of common shares held are 395,000 (1.8%) by Zane's public shareholders (reflecting a 1:22.8 reverse split as directed in the Plan of Reorganization and to be deemed effective on May 19, 2000); 531,350 (2.4%) by Halter Financial Group of Dallas, Texas which has been engaged as a strategic financial advisor; 2,105,000 (9.7%) by Zane's former creditors; and 18,754,000 (86.1%) by Nicholas Tee. Approximately 2,500,000 or 11.5% of all issued and outstanding common shares now constitute public float.

Zane's common stock is currently traded on the OTC Bulletin Board maintained by the National Association of Securities Dealers, Inc. As Zane does not presently file annual and periodic reports under the Securities Exchange Act of 1934 (the "Exchange Act") its securities will become ineligible for quotation on the OTC Bulletin Board beginning May 17, 2000. The securities will thereafter be quoted on the Pink Sheets maintained by the National Quotation Bureau, Inc. Zane intends to register its securities under the Exchange Act so as to provide for their quotation on the OTC Bulletin Board. A registration of securities under the Exchange Act is subject to review by the United States Securities and Exchange Commission. Zane shall attempt to register its securities under the Exchange Act as soon as practicable and thereafter become eligible for quotation on the OTC Bulletin Board.

About Zane Interactive Publishing, Inc.

Zane Interactive Publishing, Inc. (OTCBB:ZANEE), founded in 1989, is a new-media publisher, aggregator and distributor of grades PreK-12+ educational, reference and special interest software supplying product and content to educational institutions and individuals as well as Internet, interactive television, cable, broadband and wireless companies around the world.

Zane Publishing, Inc. (www.zane.com), a wholly-owned subsidiary of Zane, re-purposes some of the world's best learning and reference material into the company's proprietary, easy-to-use PowerCD(R) multimedia software format -- in partnership rather than in competition -- with leading traditional print publishers such as Prentice Hall, Merriam-Webster, Barrons, Macmillan and CLEARVUE/eav. PowerCD versions of these traditional name-brand products sell to parents, children, students, homeschoolers, schools, colleges and libraries through retail, direct and multiple on-line (Internet, cable and broadband) distribution channels.

Currently, Zane Publishing has published more than 300 titles, with topics ranging from great literature writers to carnivorous animals to a study of history through art. The educational material contained on many of these PowerCD titles is designed to fully complement the school curriculums followed by approximately sixty million full-time U.S. students, making the titles excellent at-home study material.

With a recent successful reorganization and the acquisition of three established British companies, Zane's mission has expanded to bring the best interactive learning materials to educational institutions and individuals worldwide through new licensing and distribution relationships. Yorkdale, Ltd. is an Internet company that owns a busy Internet shopping portal and specialized European search engine (www.ukshops.co.uk and www.the-european-directory.com). Mayflower Computers, Ltd. (d/b/a CD Imports) is a European distributor of value-priced educational and entertainment software (www.cdimports.com and www.surplus-software.net). Megarom Publishing, Ltd. is a publisher of value-priced software.

Zane's directors and officers are: Nicholas Tee, Chief Executive Officer; Reed F. Bilbray, President; and Ralph Brotherton, Chief Financial Officer.

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The information in this news release includes certain forward looking statements that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements to the future financial performance of the company. Although the company believes that the expectations reflected in its forward looking statements are reasonable, it can give no assurance that such expectations or any of its forward looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to, successful performance of internal plans, product development and acceptance, the impact of competitive services and pricing, staff development and retention, or general economic risks and uncertainties.