BNN Corp. Announces Record Second Quarter and Six Month Earnings

Business Wire, August 18, 1997

NEW YORK--(BUSINESS WIRE)--Aug. 18, 1997--Kaleidoscope Media Group (OTC BB:BNND) reported $1,465,412 pretax profit for the quarter ended June 30, 1997, compared with a loss of $718,928 for the same period in the prior fiscal year.

On a net income basis, the results for the quarter was a profit of $250,751 compared to a loss of $718,928.

Results for the six months ended June 30, 1997 pretax was $1,846,894 as compared to a loss of $847,628. On a net income basis the profits for the six months were $451,833 as compared to a loss of $847,628.

Net revenue for the second quarter ended June 30, 1997, consist of total billings, less any agency fees and media costs, that totaled $492,850, compared with revenue of $1,085,297 in the comparable three month period for fiscal 1996. For the six month period ended June 30, 1997, net revenues were $1,709,431 compared with $1,208,371 in the comparable period in the prior year.

BNN Corp. (NASDAQ BB:BNND) is a vertically integrated sports and entertainment marketing company with offices in New York, Los Angeles, Miami and Detroit. Kaleidoscope Media Group's operating companies are, Seagull Entertainment, Hollywood Connections (direct marketing), and Kaleidoscope Consulting and has a minority interest in Kaleidoscope Sports & Entertainment LLC. Current KMG sports properties include golf, tennis, boxing and football. KMG produces internationally recognized television programs, including "Tarzan" (series), "Team Xtreme" (series) and "Merlin."

CONTACT: BNN Corp.

Henry Siegel, CEO

212/779-6601