IGN Reports Positive Cash-Flow Quarter; Q1 Revenue Up 45 Percent Year-Over-Year

Business Wire, May 1, 2003

                       IGN Entertainment, Inc.
            Condensed Statements of Operations (unaudited)
               (in thousands, except per share amounts)



                                        Three Months Ending March 31,
                                        -----------------------------
                                             2003            2002
                                          -----------     -----------


Revenue                                  $     3,354     $     2,321
Cost of revenue                                  277             402
                                          -----------     -----------
   Gross profit                                3,077           1,919

Operating expenses:
   Production and content                        781           1,061
   Engineering and development                   643           1,303
   Sales and marketing                         1,637           1,363
   General and administrative                    583             555
   Stock-based compensation                        -              41
   Amortization of goodwill                        -               -
   Restructuring and asset impairment
     charges                                       -           5,032
   Gain on sale of assets                          -          (1,114)
                                          -----------     -----------
         Total operating expenses              3,644           8,241
                                          -----------     -----------

Earnings from operations                        (567)         (6,322)
Interest and other income (expense),
   net                                             5              29

Net loss                                 $      (562)    $    (6,293)
                                          ===========     ===========

Net loss per share - basic and diluted   $     (0.26)    $     (3.58)
                                          ===========     ===========


Weighted average shares outstanding            2,191           1,760
                                          ===========     ===========



      Net Loss Before Significant Non-Cash items, Restructuring
                 Charges and Gain on Sale of  Assets
              (in thousands, except per share amounts)

                                        Three Months Ending March 31,
                                        -----------------------------
                                             2003            2002
                                          -----------     -----------

Net loss                                 $      (562)    $    (6,293)
Significant non-cash items,
   restructuring charges and gain on
   sale of assets
   Stock-based compensation                        -              41
   Amortization of goodwill                        -               -
   Depreciation                                  175             899
   Restructuring and asset impairment
    charges                                        -           5,032
   Gain on sale of assets                          -          (1,114)

                                        -------------   -------------
Net loss before significant non-cash
   items, restructuring charges and
   gain on sale of assets                $      (387)    $    (1,435)
                                          ===========     ===========

Non-GAAP loss per share before
  significant non-cash items,
  restructuring charges and gain on
  sale of assets - basic and diluted     $     (0.18)    $     (0.82)
                                          ===========     ===========

                       IGN Entertainment, Inc.
                 Condensed Balance Sheets (unaudited)
                            (in thousands)



                                           March 31,     December 31,
                                             2003            2002
                                          -----------     -----------
 Assets
 Current assets:
    Cash and cash equivalents            $     3,500     $     3,407
    Accounts receivable, net                   2,156           2,929
    Prepaid expenses and other current
     assets                                      626             531
                                          -----------     -----------
        Total current assets                   6,282           6,867

 Restricted cash                                 794             781
 Goodwill, net                                 1,949           1,949
 Fixed assets, net                             1,005             917
 Other assets                                     84              84
                                          -----------     -----------
        Total assets                     $    10,114     $    10,598
                                          ===========     ===========


 Liabilities and stockholders' equity
 Current liabilities:
    Accounts payable and accrued
     liabilities                         $     2,940     $     2,846
    Deferred revenue                           1,045           1,071
    Current accrued restructuring
     charges                                     239             236
                                          -----------     -----------
        Total current liabilities              4,224           4,153

 Accrued restructuring charges, less
  current portion                              1,253           1,315
 Deferred rent                                   347             399

 Stockholders' equity:
   Common stock                                    2               2
   Treasury stock                             (1,176)         (1,176)
   Additional paid-in capital                152,207         152,086
   Accumulated deficit                      (146,743)       (146,181)
                                          -----------     -----------
        Total stockholders' equity             4,290           4,731
                                          -----------     -----------

        Total liabilities and
         stockholders' equity            $    10,114     $    10,598
                                          ===========     ===========