S.E.A. Multimedia Ld - Re: New Focus on Sport & Tech

RNS No 0629k
SEA MULTIMEDIA LIMITED
8th July 1998


                          Company Announcement

S.E.A. Multimedia Shifts Focus from Games to Sport & Technology

Tel Aviv, 6 July 1998. S.E.A. Multimedia announces that as of July 1998, the
company will no longer develop computer game titles and will focus instead on
sport programming for the Internet and R&D through Manna Network Technologies,
reducing the company's costs by $85,000 per month.

The decision to shift S.E.A.'s focus from game development to sport and
technology came about both as a result of the continued narrowing of the PC
gaming industry, and the expansion of sport content on the Internet and
Internet-related technologies. While S.E.A. has decided to cease its development
of PC games, the company plans to utilize its proprietary 3D game technologies
for external projects. S.E.A. is currently in negotiations with several media
companies regarding strategic partnerships and acquisitions based on its
proprietary 3D engine and streaming technologies, which are considered to be
cutting edge by international standards.

S.E.A.'s main focus will be on its sport division. The company will create
dynamic online sport-related content and programming for major international
sport organizations, such as the IOC. S.E.A. is currently involved in the
creation of the official International Olympic Committee Web site
(www.olymipic.org) and has completed the first stage of its development. S.E.A.
is now moving into the site's second phase, the history of the Summer
Olympic Games, which is due for completion by November 1998. During the Nagano
Winter Games, the IOC site registered 600 million hits during the period of the
Games.

Additionally, S.E.A. has recently signed a Teaming Agreement with US-based
Quokka Sports to secure rights from SOCOG to produce the official, exclusive
SOCOG Internet site for the Sydney 2000 Olympic Games, and is in discussions
with major European sport and media organizations for the development of a
pan-European Web site.

S.E.A. will also continue to focus on its R&D subsidiary, Manna Network
Technologies. Manna Network Technologies is a developer of relationship
management tools for online business, and its first product, eDialog, will focus
on e-commerce. Manna Network Technologies will sell eDialog and follow-on
products directly, and through channel partners including integrators, VARs and
OEM relationships. The product is currently in beta in the US and will be
released in fourth quarter 1998.

S.E.A. has evolved from a multimedia publisher to a cutting edge developer of
online sport programming. By ceasing its involvement in the development of
computer games S.E.A. will reduce its overheads by approximately $1 million per
year with effect from September 1998. With a focus on short-term consolidation
and long-term growth and stability through the most appropriate strategic
alliances, S.E.A. is well positioned to become a leader in its chosen fields.

For More Information Contact:

Tal Barnoach, CEO and President. S.E.A. Multimedia
Tel: [phone] Fax: [phone]
Email: [e-mail]

Adrianne Kern, Marketing Manager, S.E.A. Multimedia
Tel: [phone] Fax: [phone]
Email: [e-mail]

Michael Rosenberg, Financial Advisor and Broker, Raphael Zorn Hemsley
Tel: [phone]
Email: [e-mail]


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