ALEXANDRIA, VA, September 28, 2006 Comtex News Network, Inc. (OTC BB: CMTX), a leading provider of economically useful electronic real-time news, content and market alerts, today announced financial results for the fiscal year and fourth quarter ended June 30, 2006.

For the year ended June 30, 2006, Comtex reported revenues of $7.7 million compared to $8.0 million for the fiscal year ended June 30, 2005. The decline in revenues is primarily the result of business consolidations among clients. For Fiscal 2006, Comtex had an operating loss of $(364,000) and a net loss of $(458,000), or $(0.03) per share, versus operating income of $826,000 and net income of $729,000, or $0.05 per share, in the previous year. The losses were primarily the result of the Company adopting the new accounting rule, SFAS 123R, and recording non-cash stock-based compensation expenses of approximately $772,000.

For the quarter ended June 30, 2006, Comtexís revenues declined to $1.8 million from approximately $2 million. The Company posted a $(198,000) fourth quarter operating loss and a net loss of approximately $(212,000), or $(0.02) per share compared to operating income of $427,000 and net income of $431,000, or $0.03 per share, for the quarter ended June 30, 2005.

For fiscal 2006, EBITDA (as defined and explained in the accompanying note to the table below), excluding the effects of stock-based compensation, was approximately $690,000 compared to $1.45 million for the previous fiscal year. For the fourth quarter of fiscal 2006, EBITDA was a negative $(142,000) compared to an EBITDA of $545,000 for the fourth quarter of 2005. The decreases are primarily the result of increased operating expenses in the current fiscal year, largely related to professional fees, partially offset by the receipt of local tax refunds in the prior fiscal year.

\"During fiscal 2006, Comtex has introduced innovative, exciting new financial market trend indicator products, while strengthening core product offerings for our long-term clients,\" stated Chip Brian, Comtexís President and COO. \"We look forward to a national roll-out of Comtex SmarTrendÆ Alert and CSTAÆDirect during the upcoming year ñ as well as continued expansion of relevant content to enhance all of our products,\" Mr. Brian concluded.

About Comtex
Comtex (www.comtex.com) provides real-time news, SmarTrendÆ Alerts and economically useful information to businesses whose customers need more than just facts. Comtex customers receive select content from key sources which is further enhanced with stock tickers and an extended lexicon of relevant terms. With a specialization in the financial news and content marketplace, Comtex receives, enhances, combines and filters news and content received from national and international news bureaus, agencies and publications, and distributes more than one million total stories per day. Comtexís state-of-the-art technology delivers this relevant content and reliable service in real-time. Comtex (OTC BB: CMTX) has offices in New York City and Alexandria, Virginia.

SmarTrendÆ and CSTAÆ are registered trademarks of Comtex News Network, Inc.

Please Note: Except for the historical information contained herein, this press release contains forward-looking statements within the meaning of Section 21E of the Securities and Exchange Act of 1934, as amended, that involve a number of risks and uncertainties. These forward-looking statements may be identified by reference to a future period by use of forward-looking terminology such as \"anticipate,\" \"expect,\" \"could,\" \"intend,\" \"may\" and other words of a similar nature. These statements involve risks and uncertainties that could cause actual results to differ materially from those contemplated herein, including the occurrence of unanticipated events or circumstances relating to the fact that Comtex is in a highly competitive industry subject to rapid technological, product and price changes. Other factors include the possibility that demand for the Company's products may not occur or continue at sufficient levels, changing global economic and competitive conditions, technological risks and other risks and uncertainties, including those detailed in the Company's filings with the Securities and Exchange Commission. Comtex undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.