FOR IMMEDIATE RELEASE

Contact: Bob Griffin, Griffin Public Relations & Marketing
(212) 481-3456
Bgriffin@griffinpr.com

SAN CARLOS, CALIFORNIA, February 24, 2000 -- Capping a year of growth and expansion in product development, management, and financing, ImaginOn, Inc. (NASDAQ: IMON) (www.imaginon.com) today announced preliminary financial results for the year ended December 31, 1999.  According to ImaginOn Chief Financial Officer Jim Newcomb, final results for the year may change prior to the Company's 10-KSB filing with the Securities and Exchange Commission.

For the year ended December 31, 1999 ImaginOn achieved net revenue of  $339,790 as compared to net revenue of less than $1,000 in 1998.  Reflecting the Company's fiscal 1999 investment in the sales, marketing, and R&D programs required to transition the Company from the development stage to the operating stage, ImaginOn's net loss for the year was $7,047,082, up from a net loss of $1,740,202 in 1998.  Including amortization of the discount and dividends on the Company's convertible preferred stock, the net loss for the year applicable to the Company's common stock was $8,642,269.  The loss per share of common stock was $0.22.  Operating results for 1998 reflect the operations of ImaginOn.com as a private company prior to the merger with California Pro Sports.

In discussing the financial results for the year, Newcomb noted that ImaginOn is in a strong financial position and ready for the launch of the Company's ImOn.comTV™ product at the National Association of Broadcasters Convention and Exhibition in April.  "Our financing efforts for the year were successful.  As a result, ImaginOn had current assets of $7.1 million at year end, including $5.0 million in cash, and a stock proceeds receivable of $2.0 million.  This compares to where we stood last year when current assets were only $24,000.  ImaginOn is also entirely debt-free, as compared to the end of 1998, when the Company's indebtedness was $1.6 million," said Newcomb.

Commenting on the annual results, ImaginOn Chief Executive Officer David Schwartz today said that, "ImaginOn is stronger and healthier than ever before.  As the industry we serve rapidly embraces broadband Internet access in all of its forms, our mission is clear, our product line is defined, our market focus is set, and our management team is in place.  We are aggressively marketing ImOn.comTV and intend to make it the industry standard."

ImaginOn, Inc. is an information technology company focused on developing and marketing broadband Internet television products.  ImOn.comTV, ImaginOn's lead product, is a licensed turnkey package that enables any Website to present an interactive television console within a standard browser window on any suitably connected computer.  The ImOn.comTV virtual console offers its users video on demand, viewer directed branching video, automated Web searching, and many additional features customized for individual licensees.  The company's objective is to deliver Internet television to anyone and everyone who wants to communicate, entertain, inform, educate or market in a new way for the new era of interactive communications.

Except for the historical information presented herein, the matters set forth in this press release are forward-looking statements within the meaning of the "safe harbor" provision of the Private Securities Litigation Reform Act of 1995.  These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially.  These risks include acceptance of ImaginOn software by developers and users, the successful development of competitive software to ImaginOn's, competitive pricing pressures for ImaginOn software and services, and the availability of financing to complete management's plans and objectives.  In addition, other risks are detailed in the Company's periodic reports and in its Form S-3/A-2 registration statement declared effective by the Securities and Exchange Commission on April 26, 1999.  These forward-looking statements speak only as of the date hereof.  The Company disclaims any intent or obligation to update these forward-looking statements.