S.E.A. Multimedia Ld - Re Third Qtr Results, etc

RNS No 3059v
S.E.A. MULTIMEDIA LIMITED
29th November 1998


To: Company Announcements

"The above company is sending its quarterly results for the period to 30
September 1998 to shareholders and six copies are being lodged with the Company
Announcements Office.  Further copies are obtainable from Raphael Zorn Hemsley
Limited, 138 Cheapside, London EC2V 6LH.

"There is set out below the Chairman's Statement extracted from the above
quarterly results:


"During the past 9 months S.E.A. Multimedia has continued to narrow its focus to
online sport programming and relationship management tools for online business
through its subsidiary, Manna Network Technologies.

"With a clear focus and markedly fewer overheads, S.E.A. has succeeded in
cutting its G&A costs and losses dramatically, as the results for the first 9
months of 1998 indicate in comparision with the same period in 1997.  Revenues
for the first 9 months of 1998 were $415,172 with a recorded loss of $1,287,504
as compared with the first 9 months of 1997, where revenues were $281,616 and
loss of $1,287,504 as compared with the first 9 months of 1997, where revenues
were $281,616 and a loss of $3,013,403 was recorded.

"S.E.A.'s online sport programming division is focused on creating
europasport.com, the first pan-European sport channel on the Internet that
offers sport fans dynamic, interactive sport content and services.  The Web site
will present information in several languages, and provide the best sport
coverage of specific  nations and regions.  S.E.A. has identified potential
investors and key partners for the venture with whom it is currently involved in
negotiations.  S.E.A. has also recently completed the second stage of the
Internatiional Olympic Committee's official Web site.  The updated version of
the site will be online by the first quarter of 1999.

"Manna Network Technologies is now in the final stages of implementing its first
beta site.  That company has successfully raised $500,000 from private investors
representing a valuation of $2,777,000.  It is currently in negotiations with
investors to raise a further $2 million dollars, reflecting a significiantly
higher company valuation."

From:  Raphael Zorn Hemsley Ltd


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