Totally Hip Software Posts First Quarter Fiscal 2001 Report

Posted on 03-01-01

Totally Hip Software Posts First Quarter Fiscal 2001 Report

www.totallyhip.com www.cdnx.ca symbol:THW
phone: 604 685 6525 e-mail: info@totallyhip.com

Vancouver, BC – March 1, 2001 - Totally Hip Software announces an income of $0.00 per share for the first quarter fiscal 2001 report covering the three month period ending December 31, 2000. The financial statements for the fiscal quarter show similar pre-tax results, at near to break even, to those reported during the corresponding first quarter of the previous fiscal year. These results were achieved during a decline in overall computer and software sales and more difficult economic and financial market conditions.

Totally Hip Software's operations during the quarter focused on research and development including completing of a Macintosh to Windows porting layer for simultaneously producing cross-platform products. This technology was directly applied in the rapid development of Totally Hip’s two new cross-platform digital media products named HipFlics and HipPics for video and images or pictures respectively. These two consumer oriented products witnessed simultaneous releases for the Mac and Windows platforms as well as a significant reduction in costs associated with cross-platform development. Totally Hip will also apply this porting technology to the production of the next release of LiveStage Professional as a cross-platform product.

During the quarter development commenced on a significant update to Totally Hip Software's flagship product, LiveStage Professional with an expected release in the spring of 2001. LiveStage Professional version 3 adopts an XML based methodology to enable database connectivity, dynamic movie creation, and other workflow based applications of new media technology. The update will feature QuickTime 5 features such as media skinning, Flash 4 media support, XML and database communications, cubic VR, and enhanced MP3 capabilities.

LiveStage Professional 3 will also simultaneously include a Windows 98/2000/NT/ME version created utilizing the porting layer developed during the later part of fiscal 2000 and the first quarter of fiscal 2001. Customers will now have access to a complete and economical cross-platform media authoring and playback solution for deploying broadband, highly interactive or high quality video applications for the web.

Totally Hip Software’s pre-tax income or loss per share for the first quarter of the fiscal 2001 year was $0.00 per share which is the same as that reported for the first quarter of fiscal 2000. The net income in the first quarter of fiscal 2000 was $0.02 per share including tax recoveries compared to $0.00 per share for the first quarter of fiscal 2001. The total loss for the first quarter of fiscal 2001 was $70,000 compared to a total first quarter fiscal 2000 pre-tax loss of $72,000 and post-tax gain of $272,000. The first quarter report contains detailed results and comparisons between the first quarter of fiscal 2001 ending December 31, 2000 and the first quarter of fiscal 2000 ending December 31, 1999 as well as the management discussion and will be posted at www.totallyhip.com.

Totally Hip Software develops cross-platform software for the creation of rich multimedia used on the Web, DVD, or CD-ROM. Totally Hip is recognized as an industry innovator and leader in the areas of interactive media and QuickTime based development tools. QuickTime continues to be a leading method of deploying broadband content, highly interactive Web-based applications and high quality video for the web. Totally Hip’s award winning LiveStage Professional is the leading QuickTime authoring tool currently available. Totally Hip's newest products are targeted towards providing simple digital media enhancement solutions. These products are designed as feeder or content preparation tools for applications such as iDVD or LiveStage Professional as well as easy to use standalone programs for business, educational or home use.

Totally Hip Software’s mission is give content developers and producers complete creative control by producing software that empowers users to create, produce and deliver the most engaging and interactive experiences on the Web. Totally Hip Software was founded in 1995 and is an award winning developer and marketer of interactive Web development technologies. Totally Hip is traded on the Canadian Venture Exchange (www.cdnx.ca) under the Trading Symbol: THW. © 2001 Totally Hip Software Inc. All rights reserved.

TOTALLY HIP SOFTWARE INC.

Per: “David B. Dicaire”
David B. Dicaire, CEO & President

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