AT&T Selects Network Event Theater's AmericanPassage Division as Its Exclusive Provider of...

NEW YORK--(BUSINESS WIRE)--March 10, 1998--

Recognition of years of good work

Network Event Theater, Inc. (NASDAQ: NETS and NETSW) today announced that its American Passage division signed a contract with AT&T (NYSE: T) as its exclusive provider of college

newspaper advertising placement services for the next two years. As indicative of NETS' approach to major national advertisers, NETS seeks to leverage its relationships with those advertisers across its four major divisions. NETS is pleased to cement its relationship with AT&T.

AT&T, with $50 billion in revenues, is America's largest telephone company both in long-distance and wireless. College students are prime target users of AT&T's services.

During the twenty years since its inception, American Passage has grown to become a leader in the college media and marketing industry. Among its array of products and services American Passage places advertisements on behalf of national advertisers in more than 2,000 college newspapers nationwide, operates a national network of independent representatives that can place posters on college campus walls throughout the country and owns and operates AdRaX(TM) (a network of on-campus newspaper stands). Network Event Theater acquired American Passage in September 1996 as part of its effort to develop a completely integrated portfolio of on-campus media and marketing services it could offer to advertisers, sponsors and entertainment companies interested in accessing the college market on a turnkey basis.

Despite successfully capturing and retaining AT&T's college newspaper advertising business for the past five years, this contract is significant because it is the first time that the relationship between the two companies has been put into writing. According to Alan Levine, Senior Vice President of American Passage, "AT&T is a terrific client and we are thrilled to have gained their ongoing confidence in our capabilities. We are committed to providing AT&T with the highest level of service and support which we believe is the highest level available in the market."

Network Event Theater Inc. is the nation's leading campus media and marketing company. It was created to provide the most effective and efficient doorway into the US young adult marketplace. NETS is currently comprised of wholly-owned subsidiaries including American Passage, which among other things is the leading college newspaper advertising placement service, with a reach of more than 2,000 colleges and universities, and the leader in commercial postering on college campuses; Beyond the Wall(R), the largest print catalog reaching 700 campuses through a 4 million circulation; Campus Voice(R), an editorial wallboard network of 3,500 boards on approximately 400 campuses, Pik:Nik(TM) a national postcard advertising company, and Pulsefinder.com, an on-line research service.

Except for the historical information herein, the matters discussed in this news release are forward looking statements that involve risks and uncertainties, including the timely development and acceptance of new products, the impact of competitive products and pricing, and other risks detailed from time to time in the company's SEC reports, including the annual report on Form 10-KSB for the year ended June 30, 1997, and its quarterly report on Form 10-QSB for the second quarter of fiscal year 1998 dated December 31, 1997.

CONTACT: Network Event Theater Inc.

Harlan Peltz, Chairman

(212) 622-7300