dick clark productions reports second quarter fiscal 1998 results.

BURBANK, Calif.--(BUSINESS WIRE)-- Feb. 12, 1998--dick clark productions, inc. (Nasdaq: DCPI) reported financial results for the second quarter and first six months of fiscal 1998.

For the second quarter ended December 31, 1997, revenue was $13,371,000 and net income was $737,000, or $0.09 per share. This compares to revenue of $9,907,000 and net income of $698,000, or $0.08 per share for the comparable quarter in fiscal 1997.

For the six month period ended December 31, 1997, revenue was $27,426,000 and net income was $852,000, or $0.10 per share. This compares to revenue of $20,816,000 and net income of $1,001,000, or $0.12 per share for the comparable period in fiscal 1997.

Revenue for the second quarter of fiscal 1998 compared to the second quarter of fiscal 1997 was higher due to increased revenue from television specials and series, along with an increase in revenue from restaurants opened during the second half of fiscal 1997. Net income improved slightly due to increased profitability from television productions, offset in part by lower profitability from the company's corporate productions subsidiary compared to the second quarter of last year.

"The second quarter of fiscal 1998 was our 20th consecutive profitable quarter," said Francis C. La Maina, President and Chief Operating Officer. "The most important developments of the second quarter were two new, significant commitments from major networks. The Fox Network ordered eight additional episodes of 'Beyond Belief: Fact or Fiction,' which premiered in 1997. NBC committed to nine new 'Bloopers' episodes. Both prime time series began broadcasting in January 1998."

Activity during the second quarter included the production of two television series:

-- The hour-long, weeknight country music entertainment and

variety series, "Prime Time Country," for TNN.

-- The final episodes of "The Weird Al Show," completing the

commitment to CBS.

The company also produced six television specials:

-- "Dick Clark's New Year's Rockin' Eve"(R) '98 for ABC -- the

Company's 26th consecutive year of production.

-- "Tribute to Aaron Spelling" for ABC.

-- "AMC Live Film Noir Salute" for American Movie Classics (AMC).

-- "Meet Hanson" for ABC.

-- "All New, All Star TV Censored When Bloopers Attack" for NBC.

-- "A Very Special Christmas" for TNN.

Other activities included:

-- The company's corporate communications subsidiary completed the

AT&T Pocketnet launch.

-- The 9th "Dick Clark's American Bandstand Grill(R)" neared

completion in Dallas and opened on January 28, 1998.

-- The company entered into a joint venture agreement with Wind-up

Entertainment Inc. to produce and market reissue and

compilation CDs utilizing the American Bandstand(R) trademark.

dick clark productions inc. is a diverse entertainment enterprise, with a long history of profitable operations. The company continues to develop new television programming and to capitalize on the value of its trademarks, positive image, expertise in entertainment and communications, and reputation for quality and reliability through three core business units.

-- dick clark productions inc. is a leading independent producer

of a wide range of television programming for broadcast

networks, cable networks, distributors and advertisers.

-- dick clark corporate productions inc., a subsidiary,

specializes in the production of corporate events, meetings and

trade shows, and corporate communications for major

corporations.

-- dick clark restaurants inc., a subsidiary, operates "Dick

Clark's American Bandstand Grill(R)," a growing group of themed

family restaurants.

Note -- Except for the historical information contained in this Release, the other statements in this Release are forward looking statements that involve risks and uncertainties, including, without limitation, the company's ability to sell its television programming, in particular its specials programming, timely completion of negotiations for new restaurant sites and the ability to construct and open new restaurants and to attract new corporate productions clients, the level of increased production by the major television networks, as well as such other risks as from time to time may be detailed in the company's Securities and Exchange Commission reports. -0-

                      dick clark productions inc.

Statements of Operations
                                             Quarter Ended Dec. 31,
                                                   (unaudited)
                                              1997            1996

Total revenue                              $13,371,000   $ 9,907,000
Gross profit                               $ 1,874,000   $ 2,031,000
Income before provision for income taxes   $ 1,189,000   $ 1,131,000
Provision for income taxes                 $   452,000   $   433,000
Net income                                 $   737,000   $   698,000
Net income per share                       $      0.09   $      0.08
Weighted average shares outstanding          8,387,000     8,322,000


                                            Six Months Ended Dec. 31,
                                                   (unaudited)
                                              1997            1996
Total revenue                              $27,426,000   $20,816,000
Gross profit                               $ 2,862,000   $ 3,282,000
Income before provision for income taxes   $ 1,374,000   $ 1,622,000
Provision for income taxes                 $   522,000   $   621,000
Net income                                 $   852,000   $ 1,001,000
Net income per share                       $      0.10   $      0.12
Weighted average shares outstanding          8,384,000     8,322,000

Balance Sheets

At                                       Dec, 31, 1997  June 30, 1996
                                           (unaudited)    (audited)
Cash & marketable securities               $39,290,000   $31,754,000
Total assets                               $73,780,000   $63,298,000
Debt                                       $       --    $       --
Stockholders' equity                       $51,228,000   $50,319,000

CONTACT: DCPI Treasurer

Bill Simon, 818/841-3003

or

DCPI Investor Relations

Bruce Russell, 310/216-1414