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Bridges Announces First Quarter 1996 Results

KELOWNA, BRITISH COLUMBIA - April 25, 1996 - The Bridges Initiatives Inc. (ASE:BIT), one of Canada's foremost providers of career and life skills information via the World Wide Web, today announced revenues for the February 1996 quarter of $41,473. Net loss for the quarter was $169,172.

During its first quarter as a public company, Bridges completed an Initial Public Offering of 1.7 million shares raising gross capital of $1,445,000. In conjunction with the IPO, Bridges also posted its shares for trading on the Alberta Stock Exchange under the trading symbol BIT.

"The capital raised through our recent Initial Public Offering will be used to increase sales through aggressive marketing of the Career Explorer On-line service across Canada," stated Doug Manning, president & CEO, The Bridges Initiatives Inc.

ONLINE SERVICE LAUNCH AND NEW EDUCATIONAL SOFTWARE PRODUCT DEVELOPMENT
During the quarter, Bridges completed the development and successful launch of both its new education CD ROM title, The Architectä and its online career information service, Career Explorer Online.

First in The Personal Architecture CD-ROM series, The Architect was co-developed for the British Columbia Ministry of Education and their Career and Personal Planning (CAPP) program. The online service Career Explorer was introduced to post-secondary institutions and career employment centers through out Canada further expanding into new markets.

UNISYS DISTRIBUTION PARTNERSHIP SIGNED
Bridges announced the signing of its first sales, marketing and distribution agreement with Unisys Canada. Working with ICONIX International, the education and training market division of Unisys Canada, the Career Explorer On-line service will be offered to high schools, libraries, colleges and universities across Canada through ICONIX'S extensive sales and distribution channels. This exciting agreement greatly extends the market reach of Career Explorer On-line.

ADDITIONS MADE TO THE BOARD OF DIRECTORS
Early in January, Bridges announced the appointment of two new directors to the company's board. Mr. Jim Yeates, currently President & CEO of FrontLine Technologies Partners Inc. and Mr. Ed Hall, Co-President of Canadian Adult Communities Ltd., join Mr. Pat Montani and Mr. Doug Manning as Directors of The Bridges Initiatives Inc.

1ST QUARTER OVERVIEW
"We've delivered on our strategy of establishing a strong distribution presence in this our first quarter as a public company," said Doug Manning, President and CEO, BRIDGES. "To further increase market penetration, we will continue to pursue further distribution partnerships within the publishing and telecommunications industries. As our marketing efforts expand outside of Canada and reach into the United States education market place, our commitment to providing the best career information services and products for the growing education market, will help establish a solid base from which to grow our revenues from in fiscal 1996 and through to 1997."


About Career Explorer
The Career Explorer On-line Information service is delivered through the World Wide Web (Internet). Career Explorer features up-to-date resources that help young people and adults in transition prepare for the future. Updated daily, sixteen different types of articles, focusing on career information, self-assessment, skill development and the labor markets, are produced and made available to Career Explorer On-line subscribers. The on-line service provides the most current information about emerging employment opportunities and the necessary skills required to access the opportunities. Subscribers access Career Explorer On-line using either Netscape Communication's, Netscape Navigator 2.0® or Spyglass's, Mosaic® Internet browser.

About The Bridges Initiatives Inc.
Using Internet and CD-ROM technology, Bridges has quickly developed into one of Canada's foremost providers of interactive career-life information via the World Wide Web (Internet). Through its on-line services and educational software products, Bridges offers a number of dynamic educational resources that aid users in researching career and personal development opportunities.

Founded in 1994, The Bridges Initiatives Inc. employs 18 people in its Kelowna, B.C. office and has over 25 contract writers located throughout North America. For more information about the Career Explorer On-line Service, or other educational software products, contact The Bridges Initiatives at (604) 869-4200.
 

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