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To: Kent Kuo who wrote (193)	6/18/1997 6:17:00 PM
From: Kent Kuo	of 341

One more: Thanks, Kent. Wednesday June 18 8:50 AM EDT Company Press Release Source: Sanctuary Woods Multimedia Corporation Sanctuary Woods Announces New Head Coach Products Scheduled for Fall Introduction New Software Products Help Improve Math and Other Skills Within Challenging, Creative Environments With Sports Orientation SAN MATEO, Calif., June 18 /PRNewswire/ -- Continuing to lead the way in educational software, Sanctuary Woods Multimedia Corporation (OTC Bulletin Board:SWMC) today revealed the new Head Coach(TM) software titles slated for release this Fall. Expanding on the sports-oriented learning theme pioneered by the company, the games teach children essential math and decision making skills in dynamic, fun-filled settings. Targeting 6 to 8 year olds, a younger audience than previous Head Coach(TM) products, a new math program (name to be announced) teaches fundamental arithmetic skills using soccer, what is fast becoming the most popular sport for younger children. Choosing teams made up of children their own age, the game-players are presented with simple math problems appropriate for their age group. ``Kids in this age group play soccer more than any other sport,'' points out Charlotte Walker, president and CEO of Sanctuary Woods. ``We expect the sport's popularity will draw more kids to the product and become an effective learning vehicle for this age group.'' Playing on the built-in connection between math and football, the newest edition of the popular NFL(TM) Math educational CD-ROM will be better than ever. Designed so that it will never be outdated, the new version may be dynamically updated with the latest players, teams, and stats via the World Wide Web or floppy disk. In NFL Math, kids select which professional NFL team to play for and against, then take the field to select plays. The team's score depends on how the user answers challenging math questions designed for kids aged 8 to 12. The game unfolds on a simulated stadium screen and has nearly a quarter of a million different play animation possibilities. Sportscaster(TM) takes the action off the field and into the studio, where kids 9 to 14 become sportscasters who not only use the program's multimedia authoring tools to create sports stories, but must score points in ``the game of life.'' The first Sportscaster product will ship with a video library licensed from NFL Films. Keeping the game up-to-date and fresh, new assignments, other sports film libraries, and story lines will be available from Sanctuary Woods. Kids are given assignments such as ``creating a highlight film of football's greatest interceptions.'' After writing the script, kids create and edit the video from the supplied film library, then narrate and record the audio. In addition to the video clips, Sportscaster provides a library of sound effects. While players are creating sports films, a ``game of life'' simulation runs in parallel. Presenting players with real-life business decisions, the ``game of life'' requires them to learn to understand the strengths and weakness of the game's characters -- even their boss! About Sanctuary Woods Founded in 1988, San Mateo-based Sanctuary Woods Multimedia is the innovative developer of the Head Coach(TM) line of sports-based educational software titles derived from unique licensing agreements with NFL(TM) Properties, the National Football League Players Incorporated and Major League Baseball Properties. Current titles include Major League Math(TM), Major League Reading(TM), NFL(TM) Math and NFL(TM) Reading. Major League Math Second Edition was recently awarded Newsweek Magazine's ``Editor's Choice'' award. The company also manufacture the popular Franklin series which includes Franklin Learns Math, Franklin's Reading World and Franklin's Activity Center. All are based on the popular Franklin storybook character. NOTE: Sanctuary Woods is a registered trademark and Head Coach is a trademark of Sanctuary Woods Multimedia. Franklin is a trademark of Kids Can Press, Ltd. Major League Math is a trademark of Major League Baseball Properties, Inc. NFL is a trademark of National Football League Properties.

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To: TOM E WALTERS who wrote (255)	7/2/1997 6:29:00 PM
From: Bart Sampson	of 341

Sanctuary Woods Posts Fiscal 1997 Results Tuesday, July 01, 1997 08:52 AM ET SAN MATEO, Calif. -- Sanctuary Woods Multimedia Corporation (OTC Bulletin Board: SWMC) today reported a net loss of $3,677,011 or $3.30 per share on sales of $4,749,351 for the fiscal year ended March 31, 1997 as compared to a net loss of $18,698,441 or $22.16 per share for the year ended December 31, 1995 on revenues of $10,981,097. "The Company's fiscal 1997 results are not comparable to fiscal 1995 results because in fiscal 1997 the Company discontinued the distribution of entertainment products. In addition, in fiscal 1995, the Company wrote down numerous assets and took extraordinarily high reserves to account for product returns and price markdowns related mostly to its discontinued entertainment business," said Charlotte Walker, President. In fiscal 1997, the Company re-structured its balance sheet and reorganized operations into the US including the sale of its studio in Victoria, British Columbia and the closure of its Toronto office. Expenses related to the re-structuring and reorganization were approximately $1.1 million. The Company also incurred $329,000 in bad debt losses partly resulting from bankruptcy filings by two of the industry's major distributors. "Market conditions remain very challenging, however we believe that our continued focus on the Head Coach(TM) and Franklin(TM) line of educational products and our efforts to open new sales channels, including the internet, will position us for growth in 1997-1998," added Ms. Walker. About Sanctuary Woods Founded in 1988, San Mateo-based Sanctuary Woods Multimedia is the innovative developer of the Head Coach(TM) line of sports-based educational software titles derived from unique licensing agreements with NFL(TM) Properties, the National Football League Players Incorporated and Major League Baseball Properties. Current titles include Major League Math(TM), Major League Reading(TM), NFL(TM) Math and NFL(TM) Reading. Major League Math Second Edition was recently awarded Newsweek Magazine's "Editor's Choice" award. The company also manufacturers the popular Franklin series which includes Franklin Learns Math, Franklin's Reading World and Franklin's Activity Center. All are based on the popular Franklin storybook character. Sanctuary Woods can be reached at 800-943-3664 or visit the company's Web site located at ah-hah.com. NOTE: Sanctuary Woods is a registered trademark and Head Coach is a trademark of Sanctuary Woods Multimedia. Franklin is a trademark of Kids Can Press Ltd. Major League Math and Major League Reading are trademarks of Major League Baseball Properties, Inc. NFL is a trademark of National Football League Properties. /CONTACT: analysts, Charlotte Walker of Sanctuary Woods, 415-286-6000, or cwalker@sanctuary.com; or media, Lauren Finkelman, 800-287-2279, or lauren@sspr.com, or Melissa Rabin, 800-287-2279, or melissa@sspr.com, both of S&S Public Relations, Inc., for Sanctuary Woods/

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To: TOM E WALTERS who wrote (259)	7/8/1997 4:10:00 PM
From: Jamie Westock	of 341

No question that SW's been sick for a long time. But, I think the future, relative to the past, is looking up. There have been significant structural changes to the company, and the addition of the Virgin titles and purchase of Theatrix. For the quarters Apr-Jun and Jul-Sep, I don't see much happening until the Theatrix acquisition is completed. Since Theatrix is private, we don't know what it'll add in terms of revenues and profits, but there are several attractive things about it. First is the creative talent, track record and titles; 2nd is the distribution channel (much more extensive than SW's); 3rd is the additional cash (2M from Kingdon and whatever it had on hand from last year's capital injection) it brings in. I'm hoping that by the end of the year we see marked improvement in the overall business, and with it an increase in the stock value.

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