LEARNCOM INC (fka LRCM)

[Investolator]

LEARNCOM ANNOUNCES RESULTS FOR 12 MONTHS 2003

LRCM -- LearnCom, Inc.
Com ($0.001)


Bensenville, Illinois, March 2, 2004 /Pink Sheets News Service/ -- Lloyd Singer President and CEO of LearnCom, Inc. (Pink Sheets: LRCM) reported unaudited results today for the full year ending December 31, 2003.

Revenues for the twelve month period were $4,007,912. Operating Income for the year before Depreciation and Amortization was $150,577. After Depreciation and Amortization, we sustained a Net Operating Loss of $207,208. EBITDA was $263,580 before Extraordinary Items for the twelve months ended. Net Income for the twelve months ended was $259,621 after Extraordinary Items.

At year-end, Directors Denis Mola and Randy Redwitz formed an LLC which purchased LearnCom's senior, secured debt from Bank One of approximately $850,000. Messrs. Mola and Redwitz are also secured creditors relative to the acquisition capital raised to acquire the AMI Distribution Rights in 2001. As of December 31, 2003, substantially all of the secured debt of the company is held by Messrs. Mola and Redwitz.

Said Lloyd Singer: "2003 was a difficult year for LearnCom and other training content providers. Our revenues were down approximately 1/3 compared to 2002 forcing deep cutbacks in personnel as well as a change in our sales strategy. Almost all of our salespeople now work from their homes. While this cuts costs, it does make supervision and training more difficult. E-mail, telephone coaching, conference calls and monthly sales meetings in three locations have replaced face-to-face management.

We remain concerned about the magnitude of our debt structure related to shrinking sales. During 2003 we negotiated and honored approximately twenty debt reduction arrangements relating to our outstanding trade debt. But still, as of the year-end, our accounts payable were very high relative to our accounts receivable. During 2003 we had to renegotiate the payment of interest on our subordinate debt so that one-half is currently being paid, and one-half is accruing. We have been unable to service much of our related party debt with either principal or interest payments. The only debt other than trade payables that is being kept current is our senior, secured debt of approximately $850,000 as referenced above.

While sales remain sluggish in the first two months of 2004, we remain cautiously optimistic that the apparent turnaround in the economy will trickle down to the training budgets this year.

We expect to release our new and improved website (www.learncom.com) at the end of March which will help our marketing efforts. Deals are under development for three new video/DVD titles by midyear. We are planning to expand our Des Moines sales efforts and recruit several direct salespeople.

Our forecast for 2004 calls for flat, but profitable sales results.

We appreciate the ongoing financial contributions of our directors and investors and the hard work of our employees in this difficult period for the training industry.

About LearnCom, Inc.

LearnCom, Inc. provides learning resources and consulting services to businesses, government agencies and other non-profit organizations. The Company focuses on human resources and management development - specializing in diversity and critical compliance areas including harassment prevention and employment law. LearnCom's resources are provided in a variety of formats including video, DVD, and intranet delivery. For additional information, visit www.learncom.com

This release contains forward-looking statements that involve risks and uncertainties. The company's actual results may differ materially from the results discussed in these forward-looking statements Factors that might cause such differences include, among others, terms and deployment of capital; general economic and business conditions; industry trends; changes in demand for the Company's products; the timing of orders received from customers; announcements or changes in pricing policies by the Company or its competitors and availability of management.

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