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Bridges.com - Third Quarter Results September 30, 1999 The third quarter featured the following developments: For the nine months ending August 31, 1999, Bridges reported $1,376,654 in income before amortization and taxes, or $0.14 per share. This compares to $866,331 in income before amortization and taxes, or $0.10 per share, for the same period in 1998. For the first time, Bridges.com has included a tax consideration in an Interim Report. This has resulted in net income for the nine months of $724,768, or $0.07 per share. This compares to $602,270, or $0.07 per share in 1998. Revenues for the first nine months have reached an all-time high of $3,804,442, compared to $2,111,878 for the same period in 1998. During the quarter, the Company invested a portion of available funds to more aggressively pursue a greater market share during fiscal 2000. Twenty-four new staff members were added to the sales, technical, content, administrative, and customer support teams during the quarter. The Company currently employs 69 staff in Kelowna, B.C., and over 40 contracted writers and trainers across North America. Strong sales growth pushed the number of schools using Bridges.com's online career development system over the 4,200 mark. Third quarter sales increased by 46 per cent, with 616 new site sales recorded in June, July and August (420 new site sales were recorded in Q3 of 1998). Career Explorer is now used in 4,266 schools, representing 11.9 per cent of the North American middle and secondary school market. Use of Bridges.com's resources continued to climb, with 3,689,622 page views recorded on Career Explorer during the third quarter. That compares to 1,108,446 page views over the same period last year. Schools also used the service more frequently -- the average number of page views per subscriber increased from 570 in Q3 1998 to 900 in Q3 1999. The Company continues to widen the distribution of its online content, signing a state-wide distribution agreement with the South Carolina Occupational Information System, and finalizing plans to launch regional initiatives in West Virginia and Pennsylvania. Bridges.com was also contracted in the third quarter to provide a daily online educational information service to Canadians in conjunction with CanLearn, Human Resources Development Canada and CanWIN. Outlook - Bridges will focus on four corporate goals during the fourth quarter of 1999: Career Explorer Sales, Marketing, and Resubscriptions Portfolio Plus Implementation and Development Technical Platform Development 2000 Strategic Planning Bridges.com For further information please contact: Norm Thompson
The Alberta Stock Exchange has neither approved nor disapproved the information contained herein
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