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Advant-e Corporation Announces Second Quarter 2004 Results
Company Reports 19% Increase in Revenue over Q2 2003; Net Income of $107,343 compared to Net Loss of $5,979 in 2003


DAYTON, Ohio, Aug. 5 /PRNewswire-FirstCall/ -- Advant-e Corporation (OTC Bulletin Board: ADVC - News), a provider of Internet-based business-to-business electronic commerce services, today announced financial and operating results for the quarter ending June 30, 2004.

For the second quarter of 2004 the Company reported revenues of $851,982, a 19% increase over revenues of $715,108 in the second quarter of 2003. The increase in revenue was the result of continued growth and market acceptance of the Company's internet-based electronic commerce subscription services.

Net income for the quarter was $107,343, or $.02 per share, compared to a net loss of $5,979, or ($.00) per share for the same period in 2003.

Jason K. Wadzinski, President and CEO of Advant-e, stated, "I am pleased to report that we have achieved our internal goal of 20% pre-tax profitability for the third consecutive quarter. Our strong cash flow has enabled us to build our cash balance to over $500,000 during the quarter, while at the same time investing in our document processing infrastructure to support our future anticipated growth. We have made significant progress over the last twelve months in building a strong foundation to support our strategy of extending our leadership in the grocery industry and targeting other vertical markets for our Internet-based EDI solutions."

For the six months ending June 30, 2004 the Company reported revenues of $1,690,617, a 24% increase over revenues of $1,364,486 in the same period in 2003. Net income for the period in 2004 was $221,584, or $.04 per share ($0.03 per share on diluted basis), compared to a net loss of $75,803, or ($.01) per share in the 2003 period.

The Securities and Exchange Commission informed the Company that its registration statement for 1,603,915 common shares became effective on July 23, 2004. The shares included 583,915 outstanding shares that were issued to former holders of the Company's convertible subordinated notes and 1,020,000 shares to be issued upon the exercise of warrants held principally by former note holders.

The outstanding warrants are for the issuance of 750,000 shares of common stock at $1.205 per share, 250,000 shares at $1.25 per share, and 20,000 shares at $1.48 per share. The warrants are exercisable as follows: 925,000 warrants between September 27, 2005 and December 13, 2005, 20,000 through June 25, 2006, and 75,000 through December 5, 2006.

                     ADVANT-E CORPORATION AND SUBSIDIARY
         CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS (Unaudited)

                                Three Months Ended     Six Months Ended
                                      June 30,              June 30,
                                   2004      2003       2004       2003
                                   ----      ----       ----       ----

    Revenue                     $851,982    715,108   1,690,617  1,364,486
    Cost of revenue              310,264    305,352     604,481    609,164
                                 -------    -------   ---------  ---------
    Gross margin                 541,718    409,756   1,086,136    755,322

    Marketing, general and
      administrative expenses    361,375    358,707     713,972    732,818
                                 -------    -------   ---------  ---------
    Operating income             180,343     51,049     372,164     22,504

    Interest                           -     53,076       2,180    106,362
                                 -------     ------   ---------  ---------
    Income (loss) before taxes   180,343    ( 2,027)    369,984  (  83,858)

    Income taxes (benefit)        73,000      3,952     148,400  (   8,055)
                                  ------      -----   ---------   --------
    Net income (loss)          $ 107,343    ( 5,979)    221,584  (  75,803)
                                 =======      =====   =========   ========
    Basic earnings (loss) per
      common share             $    0.02      (0.00)       0.04      (0.01)
                                    ====       ====        ====       ====
    Diluted earnings (loss) per
      common share             $    0.02      (0.00)       0.03      (0.01)
                                    ====       ====        ====       ====
    Weighted average common
      shares outstanding       6,244,917  5,661,002    6,244,917  5,661,002
                               =========  =========    =========  =========
    Weighted average common shares
      outstanding, assuming
      dilution                 6,722,654  5,661,002    6,627,694  5,661,002
                               =========  =========    =========  =========


                     ADVANT-E CORPORATION AND SUBSIDIARY
              CONSOLIDATED CONDENSED BALANCE SHEETS (Unaudited)

                                                  June 30,    December 31,
                                                    2004         2003
                                                 ---------    -----------
    Assets

    Current Assets
      Cash and cash equivalents                 $   529,578   $   216,448
      Accounts receivable, net                      244,428       215,895
      Prepaid expenses and deposit                    9,362        16,187
      Deferred income taxes                         157,000       266,400
                                                  ---------     ---------
    Total current assets                            940,368       714,930
                                                  ---------     ---------

    Software development costs, net                 401,909       481,678

    Property and equipment, net                     261,202       168,687
                                                  ---------     ---------
        Total assets                            $ 1,603,479   $ 1,365,295
                                                  =========     =========

    Liabilities and Shareholders' Equity

    Current liabilities
      Accounts payable                          $   104,975   $    72,172
      Accrued salaries and other expenses            88,226        71,867
      Deferred revenue                              122,279        90,931
      Notes payable                                       -        94,965
                                                  ---------     ---------
    Total current liabilities                       315,480       329,935
                                                  ---------     ---------
    Long-term liabilities
      Deferred income taxes                         195,000       156,000
                                                  ---------     ---------
        Total liabilities                           510,480       485,935
                                                  ---------     ---------
    Shareholders' equity
      Common stock, $.001 par value; 20,000,000
        shares authorized; 6,244,917 outstanding      6,245         6,245
      Paid-in capital                             1,483,482     1,491,427
      Accumulated deficit                          (396,728)     (618,312)
                                                  ---------     ---------
        Total shareholders' equity                1,092,999       879,360
                                                  ---------     ---------
        Total liabilities and
        shareholders' equity                    $ 1,603,479   $ 1,365,295
                                                  =========     =========


                     ADVANT-E CORPORATION AND SUBSIDIARY
         CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Unaudited)

                                                         Six Months Ended
                                                             June 30,
                                                          2004      2003
                                                          ----      ----
    Cash flows from operating activities
      Net income (loss)                                $ 221,584  ( 75,803)
      Adjustments to reconcile net income (loss)
        to net cash provided by operating activities:
          Depreciation                                    34,099    22,846
          Amortization of software development costs     164,014   139,881
          Deferred income taxes (benefit)                148,400  (  8,055)
          Amortization of note discount resulting
            from valuation of warrants and beneficial
            conversion features                                -    43,586
          Increase (decrease) in cash arising from
          changes in assets and liabilities:
            Accounts receivable                         ( 28,533) ( 17,612)
            Prepaid expenses                               6,825     9,666
            Accounts payable                              32,803  ( 24,253)
            Accrued salaries, interest and other expenses 16,359    66,545
            Deferred revenue                              31,348  ( 16,538)
                                                         -------   -------
    Net cash provided by operating activities            626,899   140,263
                                                         -------   -------

    Cash flows from investing activities
      Purchases of equipment                            (126,614) ( 22,083)
      Software development costs                        ( 84,245) ( 83,166)
                                                         -------   -------
    Net cash used in investing activities               (210,859) (105,249)
                                                         -------   -------

    Cash flows from financing activities
      Payments on bank notes                            ( 94,965) (  6,867)
      Payments of direct costs of securities offering   (  7,945)        -
                                                         -------  --------
    Net cash used in financing activities               (102,910) (  6,867)
                                                         -------   -------
    Net increase in cash and cash equivalents            313,130    28,147

    Cash and cash equivalents, beginning of period       216,448    98,740
                                                         -------  --------
    Cash and cash equivalents, end of period           $ 529,578   126,887
                                                         =======  ========
    Supplemental disclosures of cash flow information
      Interest paid                                    $   3,014    12,382



About Advant-e

Advant-e, via its wholly owned and sole operating subsidiary Edict Systems, Inc., is a provider of Business-to-Business electronic commerce software and Internet-based applications specializing in Electronic Data Interchange (EDI) and XML-based solutions for recurring transactions. Advant-e specializes in horizontal transaction services via EnterpriseEC®, an Internet-based Trading Community Connectivity, Management, and Integration solution, and within specific industries via web-based EDI services including www.GroceryEC.com, www.RetailEC.com, www.AutomotiveEC.com, www.CPGSupplier.com, and www.WebEDI.com.

Additional information about Advant-e Corporation can be found at www.Advant-e.com and www.edictsystems.com or by contacting investor relations at (937) 429-4288. The company's email is info@edictsystems.com.

Copyright © 2000-2009 Advant-e Corporation
All Rights Reserved
Phone: (800) 443-3428
Fax: (937) 429-4309
Please send comments on this page to info@edictsystems.com


The information in this news release includes certain forward looking statements that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements to the future financial performance of the company. Although the company believes that the expectations reflected on its forward looking statements are reasonable, it can give no assurance that such expectations or any or its forward-looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to, successful performance of internal plans, product development and acceptance, the impact of competitive services and pricing, or general economic risks and uncertainties.