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BIG Entertainment Announces Higher Third Quarter Sales, Gross Profit, And Deferred Revenues

BOCA RATON, Fla., Nov. 25 /PRNewswire/ -- BIG Entertainment, Inc. (Nasdaq: BIGE) today announced improved operating results for the third quarter and first nine months of 1996.

For the three months comprising the third quarter which ended September 30, 1996, net revenues increased 40% to $1,669,438, compared with $1,194,116 in the prior-year period. Gross profit for the third quarter of 1996 rose to $576,949, an increase of $699,589 over a year earlier negative gross profit of ($122,640). For the nine months ended September 30, 1996, the Company's gross profit increased 195% to $1,777,638, versus $602,745 in the corresponding prior-year period. Deferred revenues expanded to $1,357,579 in the most recent quarter, compared with $361,175 in the third quarter of 1995, for an increase, of $996,404 or 276%. The loss per share narrowed to $0.30 in the third quarter of 1996, compared with a net loss of $0.42 per share in the corresponding year-earlier period, representing a decrease in net loss per share of 29%. A loss per share of $0.88 was posted during the first nine months of 1996, versus a per share loss in the corresponding period of the prior year of $1.35, representing a decrease in net loss per share of 35%.

"Gross profit almost tripled during the first nine months of 1996 and we anticipate further increases in revenues and gross profit in the fourth quarter," noted Mitchell Rubenstein, Chairman and Chief Executive Officer of BIG Entertainment, Inc. "We expect the net loss per share to narrow substantially in the fourth quarter of 1996 and further expect the Company to become profitable in 1997."

BIG Entertainment is a publicly held, diversified entertainment company which owns exclusive rights in all media to certain entertainment properties created by certain best-selling authors and media celebrities, such as Tom Clancy and Leonard Nimoy. The Company also operates a book licensing and packaging division and an entertainment super-kiosk retail division.

The matters discussed in this press release that are forward-looking statements are based on current management expectations that involve risks and uncertainties which may result in such expectations not being realized. Potential risks and uncertainties include, but are not limited to, general economic conditions, the ability to develop, market, and/or license entertainment properties, the ability to open new entertainment retail locations, and other risks described in the Company's filings with the Securities and Exchange Commission.

BIG Entertainment, Inc.'s common stock is traded on Nasdaq under the symbol "BIGE."

SOURCE BIG Entertainment, Inc.
 -0- 11/25/96


/CONTACT: Mitchell Rubenstein, Chief Executive Officer, BIG Entertainment, 561-998-8000/

/Other BIG Entertainment press releases are available through Company News On-Call by fax, 800-758-5804, extension 094769, or at http://www.prnewswire.com/

/Logos available via NewsCom, 213-346-8555 or http://www.newscom.com, high resolution; or http://www.newscom.com/cgi- bin/pub/pd/grid?f=PRN/prnphotos,public viewing/

(BIGE)

CO: BIG Entertainment, Inc. ST: Florida IN: ENT SU: ERN

RK-MS -- FLM006 -- 3503 11/25/96 08:59 EST http://www.prnewswire.com
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Publication:PR Newswire
Date:Nov 25, 1996
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