January 6, 2003

KELOWNA, B.C. - Bridges.com Inc. (TSX: BIT), today announced key financial performance indicators for the seven-month period ending June 30, 2003.

Readers of Bridges' financial statements should take special note of changes to financial reporting affecting the next and all subsequent reporting periods. These changes require consideration of supplemental information to properly contrast future periods with comparative periods.

Change of Fiscal Year
In an announcement dated November 6, 2002, the Company advised that it would seek regulatory approval to change its annual reporting period from November 30 to June 30, to align better with its customer buying patterns. Due to this new annual reporting period, today's announcement addresses the seven-month period ending June 30, 2003.

Bridges has a seasonal and predictable revenue pattern. Based on prior year data, in the seven-month period ending June 30, the Company would typically secure orders and invoice for subscription services equal to 30-35% of its annual total. During this period of every year, the Company would normally expect revenues to be significantly less than expenses. When isolating this specific period of the year, readers of the Company's financial statements should be aware of this seasonality.

Change of Revenue Reporting
On November 6, 2002, Bridges announced that, beginning December 1, 2002, it would adjust its subscription service levels for all subscription products - those primarily delivered by CD-ROM as well as those that are Internet delivered. These new service levels, made possible by the commissioning of Bridges' new technical infrastructure, will give all subscribers access to on-going and topical information via the Internet. Given this new level of service, the Company will recognize the revenue from all subscription products on a fully ratable basis.

Invoicing and cash flow will not be impacted by the adoption of fully ratable revenue recognition. Revenue from such products will continue to be invoiced annually at the outset of the subscription, with the full amount due at the start of the subscription. The revenue from these products will be recognized in equal monthly amounts over the term of the subscription, which is generally 12 months. Previously, revenue derived from CD-ROM and product sales was recognized upon delivery and over the usage period and as a result, the Company had deferred revenue of about 15% to 18% of annual invoices. With consistent product sales mix, which is expected, this will rise to between 50% and 60%, once a fiscal 12-month cycle has been completed. During the seven-month period ending June 30, 2003, reported revenues will be significantly reduced, as the majority of revenue in the period will be deferred for recognition until future periods. The Company reaffirms that there is no impact on invoicing or cash flow resulting from these changes.

Guidance for Seven Months Ending June 30, 2003
In the seven months ending June 30, 2003, the Company anticipates invoicing sales of $5,500,000 to $6,500,000. Based on prior periods activities, this level of invoicing is consistent with annual invoicing of $18,500,000. Given the increase of deferred revenue, the Company expects to report $4,500,000 in revenues for the seven-month period ending June 30, 2003.

As reported on November 6, 2002, the Company reduced approximately 20% of staff and announced the impending closure of the Ottawa branch office, due to close before September 2003. The initial staff reduction is now largely completed. The balance of the reductions addressed in the November 6th restructuring news release will be completed by September 2003. Due to this refocusing, the annual operating expenses of the business are now forecast to be in the range of $16,000,000. Total operating expenses for the seven-month period ending June 30, 2003, are expected to be in the range of $9,750,000, excluding restructuring expenses, depreciation, amortization, and interest.

The combination of the seasonality of invoicing, consistency of monthly expenses, and the adoption of fully ratable revenue recognition will result in the Company reporting a loss before interest, taxes, depreciation, amortization, and restructuring expenses of approximately $5,250,000 for the seven-month period ended June 30, 2003. After the effect of interest, amortization, depreciation, and restructuring expenses, a Net Loss of approximately $6,400,000 is expected for the seven-month period.

Readers are again reminded that, on an annual cycle basis, the Company expects to invoice $18,500,000 in sales and incur operating expenses of approximately $16,000,000. The resultant forecasted operating cash flow of approximately $2,500,000 compares very favorably with all preceding periods and, if achieved, will rank as the second best in the Company's history.

Balance Sheet Changes
On December 1, 2002, the Company's cash-on-hand position was $4,300,000. During the seven-month period ending June 30, 2003, the Company expects that the combination of restructuring payments (as disclosed in the news release of November 6, 2002), capital spending of $300,000, and seasonal operations will reduce the Company's cash position to approximately $1,200,000.

Note:

1. All references to dollars are reported in Canadian funds.
2. EBITDA loss and amounts invoiced are non-GAAP measures. Non-GAAP earnings measures do not have a standardized meaning under GAAP and are therefore unlikely to be comparable to similar measures presented by other issuers. The reporting of EBITDA loss and amounts invoiced is intended to assist users in understanding the Company's operations by separating the Company's base earnings and backlog of expected cash flows from the effects of unusual expenses and the recognition of revenue under the Company's significant accounting policies. The items excluded from earnings in the determination of EBITDA loss are interest, taxes, depreciation, amortization, and restructuring charges.

About Bridges
Bridges is North America's leading provider of career information services, training, and self-directed career and educational planning tools. Over 15,300 schools, libraries, employment centres, military sites, post-secondary schools and rehabilitation facilities subscribe to Bridges' customized products. Bridges serves the career development needs of millions of people seeking educational or career planning assistance. For more information, visit http://www.bridges.com. The Company is listed on the Toronto Stock Exchange under the symbol: BIT.

Forward-Looking Statements
The foregoing includes forward-looking statements which are based on management's beliefs as well as on a number of assumptions concerning future events made by and information currently available to management.

These forward-looking statements relate to, among other things, plans and timing for the introduction or enhancement to the Company's services and products; customer demand for its products and services; expectations concerning future revenue and earnings; control of costs and expenses; loss of key employees; stock market volatility; changes in laws and regulations; Bridges' ability to compete successfully and adapt to technological advances and changing industry standards; currency exchange rate fluctuations; economic, political, and other risks associated with international sales and operations; U.S. government regulation; price and product competition; the ability to implement in a timely manner the Company's restructuring plans; the ability to form and implement alliances, and other factors and risks.

All forward-looking statements in this news release are based on management's reasonable beliefs, intentions, and expectations with respect to future events and are subject to certain risks, uncertainties, and assumptions as of the date of this release. In light of the many risks and uncertainties, readers are cautioned not to put undue reliance on such forward-looking statements which are not a guarantee of performance and are subject to a number of uncertainties and other factors -- many of which are outside of Bridges' control -- that could cause actual results, performances or achievements of Bridges to differ materially from any future results, performances or achievements expressed or implied by such forward-looking statements. The Company cannot give assurance that the forward-looking statements contained in this news release will be realized. Bridges assumes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

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