June 26, 2002

KELOWNA, BC -- Bridges.com Inc. (TSX:BIT), North America's leading provider of career and educational planning tools, today reported results for its second quarter of fiscal 2002. The following message is from Bridges' President Doug Manning.

CEO's Message

In the second quarter of 2002, traditionally the company's weakest quarter, Bridges recovered some revenue from our first quarter revenue shortfall, improved our billings performance for core products, and showed some early signs of movement in our market from CD-ROM to online products. Revenue performance was on par with last year, with an EBITDA loss slightly higher than our expectations. During the quarter, the company was recognized by Profit Magazine as the 14th fastest-growing company in Canada, generating a growth rate of 5,705% over the last five years.

Revenue in the second quarter of fiscal 2002 was $3,126,226, up slightly from second quarter 2001 revenue of $3,089,782. Interestingly, billings for core products were $3,336,637, up 30% over billings of $2,563,000 in second quarter 2001. This increase was due, in part, to the recovery of $382,000 in billings from the first quarter 2002. Revenue for the first six months was $6,314,062, 5% less than the first six months in 2001.

The difference in comparative year-to-date revenue was caused by a variety of issues, including our first quarter revenue shortfall, more conservative buying patterns in the school market, and changes in the type of products being purchased by customers. Forty-two per cent of customers in 2002 purchased deferred revenue products, compared to 30% one year earlier.

Bridges reported an EBITDA loss of $1,858,850 for the first six months of 2002. This compares to a six-month loss of $840,142 in fiscal 2001. This is slightly higher than our expectations for the six-month period, due primarily to revenue shortfalls. Bridges traditionally generates less than a third of its revenue and 46% of its expenses in the first half of the year.

Net losses for the second quarter of $960,783, and for the first six months of $1,852,387, compare to losses of $1,033,868 and $2,014,175 respectively in 2001. This represents a loss of eight cents per share in the quarter and a loss of 15 cents per share in the first half of the year. The company now enters its most productive time of its fiscal year, when more than two-thirds of revenue is projected for billing.

During the quarter, several initiatives were developed. A key development in the second quarter was the completion of our infrastructure project, providing the business with the technical platform required to facilitate future growth. The company will immediately begin integrating its online products into one comprehensive resource designed for high schools. In addition, progress was made on two new ventures. The eGuidanceCenter initiative with Peterson's showed some early signs of success, with the bulk of sales expected in the third and fourth quarters. Similarly, our relationship with DBM continues to develop, anticipating opportunities to test market Bridges' products through DBM's distribution channels to a wider range of adult clients.

Over the past eight years of leading this business, I have maintained responsibility for both the CEO and President's role. Clearly, Bridges has grown to a size where we need two people managing those distinct roles. I am very pleased to announce that John Simmons will assume the role of CEO for Bridges, beginning immediately. As President of Bridges, I will be responsible for continuous development of our core subscription business.

Although we are mildly disappointed with our results in the second quarter, we are confident in Bridges' future. Our strong balance sheet, best-of-breed products, quality staff, and expanded executive team provide a solid foundation for strong growth in our core subscription business and new venture opportunities.

Third Quarter Objectives

Core Business Growth -- The third quarter provides a significant percentage of revenue growth each year. Our sales, customer support and administrative teams in our core business will be primarily occupied with new and renewed subscription sales in the year.

New eGuidanceCenter Sales -- This new venture, initiated in February, will see initial sales in the third quarter, with several key regions projected to adopt the resource.

Corporate/National Sales -- The third quarter will be the first to feature revenue from our partnership with Drake Beam Morin (DBM). In addition, Bridges' Corporate Sales and Strategic Initiatives team is expected to initiate some strategic sales in the corrections and military markets.

Infrastructure Quality Assurance -- The new infrastructure for the integration of our core online products will finalize quality assurance testing in the quarter. The Career Explorer resource will be released in the new infrastructure in July.

2003 Planning -- Strategic and tactical planning for fiscal 2003 begins in the quarter.

Conference Call

To listen to the conference call, please dial 1-800-273-9672 or 1-416-695-5806 ten minutes before the scheduled start of the call. No password is required. If you experience problems during the call or reaching the numbers above, please call Darome Teleconferencing at 1-800-268-9072 or 1-416-695-6740.

A Powerpoint presentation coinciding with the conference call will be available on the Bridges Web site at http://corporate.bridges.com/confcall/062602/index.htm.

Replays of the conference call will be available through midnight on July 10, 2002. Replay information is as follows:

Replay: 1-416-695-5800 or 1-800-408-3053
Passcode: 1191007

If you have any questions, please contact: Penny O'Neill, Bridges.com at 1-250-869-4304 or 1-800-281-1168.

Consolidated Financial Statements - Six Months Ended May 31, 2002

BRIDGES.COM INC. Consolidated Balance Sheets       May 31   November 30

                                                     2002          2001

ASSETS
CURRENT                                        (Unaudited)     (Audited)
   Cash and cash equivalents                  $ 2,906,747   $ 6,952,794
   Accounts receivable                          2,887,485     6,611,783
   Prepaid expenses and other                     745,410       690,369

                                                6,539,642    14,254,946
Capital assets                                  7,867,888     4,681,239
Future income taxes                             1,958,990       542,127
Intangibles                                        90,556       842,232
Goodwill                                        2,235,114     2,235,114
                                             $ 18,692,190  $ 22,555,658

LIABILITIES
CURRENT
   Accounts payable and accrued liabilities   $ 2,684,876   $ 3,155,955
   Deferred revenue                             2,885,229     3,246,207
   Current portion of capital lease obligations   157,218       149,196

                                                5,727,323     6,551,358
Capital lease obligations, net of
 current portion                                   27,013        96,001

                                                5,754,336     6,647,359

SHAREHOLDERS' EQUITY
Common stock                                   17,842,213    18,220,754
Deficit                                        (4,904,359)   (2,312,455)

                                               12,937,854    15,908,299

                                             $ 18,692,190  $ 22,555,658




BRIDGES.COM INC. Consolidated Statements of Operations and Deficit

(Unaudited)                             Three months       Three months
                                        ended May 31,      ended May 31,

                                                2002               2001

REVENUE                                  $ 3,126,226        $ 3,089,782
COSTS OF REVENUE                           1,429,846          1,209,393

GROSS MARGIN                               1,696,380          1,880,389

EXPENSES
  Sales and marketing                      1,870,442          1,432,863
  Research and development                    92,735            169,241
  General and administrative                 793,935            768,476

                                           2,757,112          2,370,580

LOSS BEFORE AMORTIZATION, OTHER (LOSS)
 INCOME AND TAXES                         (1,060,732)          (490,191)
  Amortization of capital assets            (276,926)          (187,608)
  Amortization of intangibles               (201,503)          (550,174)
  Other (loss) income                       (160,422)           136,291

LOSS BEFORE INCOME TAXES AND AMORTIZATION
 OF GOODWILL                              (1,699,583)        (1,091,682)
  Income tax recovery                       (738,800)          (476,898)

LOSS BEFORE AMORTIZATION OF GOODWILL        (960,783)          (614,784)
  Amortization of goodwill                         -           (419,084)

NET LOSS                                    (960,783)        (1,033,868)
DEFICIT, BEGINNING OF PERIOD              (3,618,378)        (1,936,879)
  Excess of purchase cost over carrying
   value of common shares cancelled         (325,198)           (58,158)

DEFICIT, END OF PERIOD                  $ (4,904,359)      $ (3,028,905)


Basic loss before amortization of
 goodwill per share                          $ (0.08)           $ (0.05)


Basic loss per share                         $ (0.08)           $ (0.08)


Weighted average number of shares used
 to calculate basic loss per share        12,652,312         13,227,803



(Unaudited)                               Six months         Six months
                                        ended May 31,      ended May 31,

                                                2002               2001

REVENUE                                  $ 6,314,062        $ 6,650,060
COSTS OF REVENUE                           2,745,593          2,614,257

GROSS MARGIN                               3,568,469          4,035,803
EXPENSES
  Sales and marketing                      3,625,930          2,937,933
  Research and development                   156,731            287,413
  General and administrative               1,644,658          1,650,599

                                           5,427,319          4,875,945

LOSS BEFORE AMORTIZATION, OTHER (LOSS)
 INCOME AND TAXES                         (1,858,850)          (840,142)
  Amortization of capital assets            (567,022)          (388,974)
  Amortization of intangibles               (751,676)        (1,100,348)
  Other (loss) income                        (72,254)           242,605

LOSS BEFORE INCOME TAXES AND AMORTIZATION
 OF GOODWILL                              (3,249,802)        (2,086,859)
  Income tax recovery                     (1,397,415)          (910,852)

LOSS BEFORE AMORTIZATION OF GOODWILL      (1,852,387)        (1,176,007)
  Amortization of goodwill                         -           (838,168)

NET LOSS                                  (1,852,387)        (2,014,175)
DEFICIT, BEGINNING OF PERIOD              (2,312,455)          (956,572)
  Excess of purchase cost over carrying
   value of common shares cancelled         (739,517)           (58,158)

DEFICIT, END OF PERIOD                  $ (4,904,359)      $ (3,028,905)


Basic loss before amortization of
 goodwill per share                          $ (0.15)           $ (0.09)


Basic loss per share                         $ (0.15)           $ (0.15)


Weighted average number of shares used
 to calculate basic loss per share        12,751,049         13,224,157




BRIDGES.COM INC. Consolidated Statements of Cash Flows

(Unaudited)                             Three months       Three months
                                        ended May 31,      ended May 31,

                                                2002               2001

CASH FLOWS FROM OPERATING ACTIVITIES
  Net loss for the period                 $ (960,783)      $ (1,033,868)
  Items not affecting cash
   Amortization of capital assets            276,926            187,609
   Amortization of intangibles               201,503            550,174
   Amortization of goodwill                        -            419,084
   Future income tax recovery               (747,151)          (476,898)
   Changes in operating assets and
    liabilities:
     Accounts receivable                   1,058,361            303,437
     Prepaid expenses and other               45,606            (34,324)
     Accounts payable and accrued
      liabilities                         (1,019,988)            80,139
     Deferred revenue                        210,411            191,606

                                            (935,115)           186,959

CASH FLOWS FROM INVESTING ACTIVITY
  Purchase of capital assets, net of
   related accounts payable               (2,035,249)          (844,560)

                                          (2,035,249)          (844,560)

CASH FLOWS FROM FINANCING ACTIVITIES
  Issuance of common shares                   15,560                662
  Shares purchased for cancellation          223,161             (4,406)
  Shares purchased and cancelled            (513,230)          (161,415)
  Repayment of obligations under
   capital lease                             (28,442)           (26,203)

                                            (302,951)          (191,362)

NET CASH OUTFLOW DURING THE PERIOD        (3,273,315)          (848,963)
CASH AND CASH EQUIVALENTS,
 BEGINNING OF PERIOD                       6,180,062          8,061,904

CASH AND CASH EQUIVALENTS, END OF PERIOD $ 2,906,747        $ 7,212,941


Supplemental Cash Flow Disclosures:
Interest paid                               $ 10,752           $ 13,249



(Unaudited)                               Six months         Six months
                                        ended May 31,      ended May 31,

                                                2002               2001

CASH FLOWS FROM OPERATING ACTIVITIES
  Net loss for the period               $ (1,852,387)      $ (2,014,175)
  Items not affecting cash
   Amortization of capital assets            567,022            388,974
   Amortization of intangibles               751,677          1,100,348
   Amortization of goodwill                        -            838,168
   Future income tax recovery             (1,416,863)          (910,852)
   Changes in operating assets and
    liabilities:
     Accounts receivable                   3,724,297          2,044,990
     Prepaid expenses and other              (55,042)            (4,120)
     Accounts payable and accrued
      liabilities                         (1,134,321)          (329,128)
     Deferred revenue                       (360,978)          (363,126)

                                             223,405            751,079

CASH FLOWS FROM INVESTING ACTIVITY
  Purchase of capital assets, net of
   related accounts payable               (3,090,428)        (1,564,378)
                                          (3,090,428)        (1,564,378)

CASH FLOWS FROM FINANCING ACTIVITIES
  Issuance of common shares                   38,625             20,561
  Shares purchased for cancellation                -             (4,406)
  Shares purchased and cancelled          (1,156,683)          (161,415)
  Repayment of obligations under
   capital lease                             (60,966)           (61,397)

                                          (1,179,024)          (206,657)

NET CASH OUTFLOW DURING THE PERIOD        (4,046,047)        (1,019,956)
CASH AND CASH EQUIVALENTS,
 BEGINNING OF PERIOD                       6,952,794          8,232,897

CASH AND CASH EQUIVALENTS, END OF PERIOD $ 2,906,747        $ 7,212,941

Supplemental Cash Flow Disclosures:
Interest paid                               $ 19,458           $ 27,439

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 students and adults seeking educational or career planning assistance. Its resources are also uniquely adapted to service a wide range of corporate and consumer markets. For more information, visit www.bridges.com. The company, which has offices in Canada and the U.S., is listed on the Toronto Stock Exchange under the symbol: BIT.

Forward-Looking Statements

Certain statements contained in this new release, including statements, which may contain words such as "could," "expect," "believe," "will" and similar expressions, and statements relating to matters that are not historical facts are forward-looking statements. Such forward-looking statements involve known and unknown risks and uncertainties which may cause the actual results, performances or achievements of Bridges to be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements.

These forward-looking statements relate to, among other things, plans and timing for the introduction or enhancement to the company's services and products; expectations concerning future revenue and earnings; market opportunities; general economic and business conditions; loss of key employees; integration of acquisitions; stock market volatility; supply and demand for services offered by Bridges; changes in laws and regulations; Bridges ability to compete successfully, and adapt to technological advances and changing industry standards and other factors.

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 that may cause future results to differ materially from those expected, the company cannot give assurance that the forward-looking statements contained in this news release will be realized. Forward-looking statements are not guarantees of future performance. Bridges assumes no obligation to update its forward-looking statements to reflect subsequent information or events.

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