S.E.A. Multimedia Ld - Re Private Investment in Sub

RNS No 8321p
S.E.A. MULTIMEDIA LIMITED
11th September 1998

S.E.A. Secures Private Investment in Subsidiary Company, Manna Network
Technologies

Tel Aviv, September 11, 1998. S.E.A. Multimedia announces today that its
subsidiary company, Manna Network Technologies has secured an investment from
a private investor group to the value of US$500.000.

This investment entitled the private investor group to 18% of the enlarged
ordinary share capital of Manna Network Technologies, representing a total
valuation for that company of US$2,777,000.  S.E.A. Multimedia now holds a
diluted interest of 68% in the share capital of Manna Network Technologies,
being equivalent to an approximate value of US$1,888,000.  This compares with a
total current market capitalisation for S.E.A. Multimedia of approximately 
US$2million.

The balance of shares in Manna Network Technologies representing 14% of the
share capital is held by employees of the company.

Manna Network Technologies is a cutting edge 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.

Manna Network Technologies is in the last stages of implementing its first beta
site, which is due for completion by mid-September, and at the same time, has
begun work on the implementation of its second beta site. The company is in
discussion with other major venture capital organizations for further investment
in Manna Network Technologies at a later stage in the year.

This investment in Manna Network Technologies follows S.E.A.'s announcement in
July concerning the company's decision to narrow its areas of activity to sport
programming for the Internet and R&D through Manna Network Technologies.  This
decision to concentrate on sport programming and technology came about as a
result of the rapid expansion of both Internet-related technologies and sport
content on the Internet.

S.E.A. has evolved from a multimedia publisher of sport titles, to a cutting
edge developer of online sport Programming.  S.E.A.'s main focus is the
development of a pan-European Web site and the company is in discussions with
major European sport and media organizations regarding this venture.  In
addition, S.E.A., together with US-based Quokka Sports, is currently involved
in the creation of the official International Olympic Committee Web site
(www.olympic.org) and has completed the first stage of its new developments.
S.E.A. is moving into the site's second phase, the history of the Summer Olympic
Games, which is due for completion by November 1998. S.E.A. has also recently
signed a Teaming Agreement with US-based Quokka Sports to enter a bid for the
official Web site for the Sydney 2000 Olympic Games.


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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