FANSonly to add live game coverage on the web

CARLSBAD, Calif., – Student Advantages FANSonly Network,
the Webs top-rated college sports site, and PRAJA inc., a technology leader
in interactive event coverage, have entered into an agreement to provide
fans with the ability to monitor the mens and womens basketball games of
their favorite teams in real-time on the Internet using FANSlive, a
state-of-the-art, live official statistics tracker.

Combining FANSlive with the deepest content in the industry, the FANSlive
real-time stats tracker strengthens the position of the official sites in
the FANSonly Network as the complete destination for college sports fans.

FANSlive uses a customized interface from PRAJA that provides live real-time
college sports coverage via the Internet utilizing an events official
stats. Fans will be able to launch FANSlive from their favorite official
athletic sites on the FANSonly Network or through a comprehensive gameday
listing on FANSonlys hub Web site, www.fansonly.com. A customized
graphical interface features game scores by period, the current time on the
game clock, and up-to-the-second team and individual statistics. Also
included in the interface will be links to the schools rosters, schedules,
bios, audio broadcasts, merchandise and other features from their official
athletic sites. In addition, the site will feature a live scoreboard with
updates from top-25 games in progress.

We believe there is significant value in providing fans with real-time data
delivery from the official source," said Jeff Cravens, FANSonly Networks
vice president and general manager. We are giving fans something they
cannot get anywhere else in any form – real-time coverage of their favorite
teams straight from the official courtside scoring computer to their Web
browsers. Fans will have the game information just as quickly as the
reporters actually covering the game."

From technology and business perspectives, this is an ideal partnership,"
said Ramesh Jain, PRAJAs CEO. PRAJA technology enables our customers to
provide the ultimate in real-time event coverage, and the FANSonly Network
offers a fantastic lineup of sporting events from some of the nations
premier college athletic programs."

FANSlive made its debut covering the Jan. 6 Ohio State University at the
University of Illinois mens basketball game. The feature is currently
available on several official athletic Web sites on the FANSonly Network,
including the University of Illinois (www.fightingillini.com), the
University of Mississippi (www.olemisssports.com), the University of Oregon
(www.goducks.com), Arizona State University (www.thesundevils.com), the
University of California, Berkeley (www.calbears.com) and the University of
Utah (www.utahutes.com).

About Student Advantages FANSonly Network
Student Advantages FANSonly Network is currently the largest and
fastest-growing college sports site in the world. Student Advantages
FANSonly network provides online brand management and content delivery to
more than 65 university athletic departments in the country, through the
publishing of Official Athletic Sites for each university. FANSonly.com
serves as the network hub, providing comprehensive information on collegiate
sports, including in-depth statistical packages and analysis, information on
collegiate recruiting, and team pages on every NCAA Division I, which
complements and accentuates the individual Official Athletic Sites. In
addition to breaking news and complete sports coverage, FANSonly provides
its users with interactive games and contests that capitalize on the strong
affinity of the college sports fan.

About PRAJA inc.
PRAJA inc. is an Internet company that provides products and services which
enable businesses to capture, produce and deliver event content on the web
PRAJA technology can integrate video, audio and event information from
multiple sources into one database that users can manipulate to personalize
their own Web experience, choosing what they want to see and when they want
to see it. PRAJA's interactive sports experience includes Tournament
Tracker, a partnership with broadcast.com for the 1999 NCAA basketball
tournament, Fox GameTracker, a live NFL game monitoring online experience,
1999 Cricket World Cup in conjunction with Cricinfo (www.cricinfo.org), and
a partnership with Sportsline USA (www.cbs.sportsline.com) providing
coverage of the 1999 Women's World Cup (soccer). Additionally, PRAJA
Football was created for college football programs to deliver integrated
game highlights, animated play-by-play and statistical information via
school Web sites. Also available is a compact version of PRAJA Football
called QuickView, which delivers quick access to favorite NCAA football game
highlights captured from PRAJA partner schools on a weekly basis. PRAJA For
more information, visit www.praja.com.

About Student Advantage
Student Advantage, Inc. (NASDAQ: STAD) is a leading membership and media
company focused exclusively on the college market. The company has
established a presence both online and off through its leading online
student destination, studentadvantage.com, and the Student Advantage
Membership Program. The company has built relationships with a network of
more than 55 national sponsors and over 15,000 participating locations in
125 local markets across the country.

Founded in 1992, Student Advantage is based in Boston, with regional offices
in Atlanta, Berkeley, CA; Chicago; Dallas; Hanover, NH; Los Angeles; New
York; Philadelphia; Carlsbad, CA and Washington, D.C. The Company employs
more than 270 full-time employees committed to serving the needs of college
students everywhere. Student Advantage can be reached by telephone at
617-912-2000, by email at info@studentadvantage.com or the World Wide Web at
studentadvantage.com.

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This announcement may contain forward-looking statements, which are based on
current expectations and involve a number of risks and uncertainties. There
are a number of important factors that could cause actual results to differ
materially from those expressed in any forward-looking statements made by
Student Advantage. Investors are directed to consider other risks and
uncertainties discussed in documents filed by the company with the
Securities and Exchange Commission including, without limitation, under
Risk Factors" set forth in Student Advantage's Form 10-Q and registration
statement on Form S- 1. We undertake no obligation to publicly release the
result of any revisions to these forward-looking statements, which may be
made to reflect events or circumstances after the date hereof or to reflect
the occurrence of unanticipated events.