ONTV, Inc. Announces Third Fiscal Quarter Results

ONTV, Inc. (NASDAQBB:ONTV)continues its string of profitable quarters. Revenues grow by over 141%

ROCHESTER, N.Y.--(BUSINESS WIRE)--May 20, 2002--Mr. Daniel Fasano, Chairman and CEO of ONTV, Inc. (NASDAQBB:ONTV) today announced the third fiscal quarter results for the Internet retailer.

The company, which operates Internet websites including www.AsSeenOnTV.com as well as www.SeenOnTV.com reported a 141% increase in quarter to quarter revenues and a 121% increase in revenues on a nine month to nine month comparison basis. The net income for the three-month period ending March 31, 2002 was $76,377, or $0.003 per share, while the nine-month period ending March 31, 2002 reflected net income of $146,298 or $0.006 per share. This compared to a net loss of $24,977, or $(0.001) per share, and a net loss of $153,351, or $(0.008) per share, respectively, for the comparable periods ending March 31, 2001.

Using income as a function of EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization), the Company realized earnings of $140,960 ($0.006 per share) and $314,310 ($0.013 per share) for the respective quarter and nine months periods ending March 31, 2002, and $(910) ($0.000 per share) and $(89,407) ($(0.004) per share) for the comparable periods in the previous fiscal year.

President Daniel Fasano stated that the company continues to increase its sales and profits. "Our sales are up over 246% for the nine months of this fiscal year as compared to last; our available product mix has increased significantly and, in spite of a weakened economy, we are achieving the goals we set for this year. The company is exploring the lease of a larger distribution facility to accommodate this growth. In addition, the company is exploring ways of enhancing shareholder value."

ONTV, Inc. owns and operates the Website www.AsSeenONTV.com as well as the destination site www.SeenOnTV.com. The company is a leader in the business of selling direct response and infomercial items over the Internet and distributes such brand name products as Telebrands, Popeil Inventions and Igia. Through its Net e-Vantage, Inc. subsidiary it develops new Strategic Alliance Partnerships and seeks out corporate acquisitions, and products as Internet exclusives.

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Contact:

     ONTV, Inc.
     Public Relations
     Tel. 585-426-2307 - FAX 585-426-2316
     E-mail: publicrelations@aseenontv.com