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Company to Contribute Expertise in Handheld Reference to Initiative Proposed by Microsoft, NuvoMedia, and SoftBook Press

BURLINGTON, NJ, February 24,1999 -- Franklin Electronic Publishers (FEP:NYSE) today announced it is joining with Microsoft, NuvoMedia, SoftBook Press, the National Institute of Standards and Technology (NIST) and major publishing firms, electronics manufacturers and pioneers to establish an important set of publishing standards for electronic books ("eBooks") as part of the Open eBook initiative.

eBooks are digital versions of printed books that display on specialized reading devices or on PCs and laptops. The firms involved with the Open eBook initiative have agreed to collaborate on a common set of file specifications. This will allow a title to be read on all machines adhering to these standards, and it will allow publishers to reach a wide audience without separately reformatting their titles for each machine.

This announcement comes on the heels of Franklin’s recent strategic alliance with NuvoMedia, Inc. by which Franklin is the exclusive supplier of the Rocket eBookä to the consumer electronics channel and a publisher and retailer of eBooks on the Internet. The Rocket eBook is the world’s first handheld electronic reader capable of downloading eBooks from online bookstores. Franklin now becomes one of the first full-service eBook retailers operating on the Internet. Additionally, from its Web site (www.franklin.com), Franklin will be a retailer of RocketEditionsä , an Internet content provider, and a publisher of original third-party works. RocketEditions are encrypted titles that readers can purchase and download onto their PC for transfer to the Rocket eBook. The Franklin Rocket eBook will be available in spring 1999 with a retail price under $500, and will be sold through leading consumer electronics stores, computer chains and office superstores.

"We are delighted to have Franklin work with us on the Open eBook standard. Franklin electronic books set a standard for excellence in closed platform handheld reference and the Franklin/NuvoMedia alliance will accelerate the acceptance of eBooks in the marketplace," said Dick Brass, vice president for technology development at Microsoft, who heads the company’s eBook efforts.

Franklin joins a list of technology visionaries who recognize the potential of the eBook market including: publishers Bertelsmann, HarperCollins Publishers Inc., Microsoft Press, Penguin Putnam Inc., Simon & Schuster and Time-Warner Books; the online book seller barnesandnoble.com; manufacturers Hitachi Ltd., Vadem, and HP; Audible Inc., the Web's leading electronic distributor of audiobooks; plus eBook pioneers NuvoMedia Inc., EveryBook Inc., Glassbook Inc., Librius Inc., and SoftBook Press Inc.

"We are excited to join this effort with Microsoft, NuvoMedia, SoftBook Press, and other members of the Open eBook initiative. Franklin has long been a pioneer in handheld reference and has the expertise in electronic publishing to contribute greatly to this group endeavor," said Andy Cross, President & CEO, Franklin Electronic Publishers. "By working with NuvoMedia, Microsoft, SoftBook Press and these other business leaders to define standards, we provide publishers the security and confidence they need to convert files to electronic form so consumers can ultimately have a virtual library in their hands."

The Open eBook draft specification for eBook file and format structure is based on the popular HTML and XML languages used to format information for Web sites. The draft specification, which will be available free of charge to all interested users, will help to quickly create a critical mass of content for electronic reading devices. A publisher will be able to format a title once according to the specification and the content will be compatible with a wide variety of reading devices. The specification is designed to be compatible with the development plans of the major eBook efforts already under way.

Mr. Cross added: "We are known for our world-beating compression and search and retrieval technologies which add tremendous value to our publications. Involvement with the Open eBook standards committee at the front end allows us to bring this added value to all eBooks."

Franklin Electronic Publishers, Inc. (NYSE:FEP), the exclusive source for REX® PC-Card organizer products, is the worldwide market leader in handheld electronic books, including the popular BOOKMAN® series. The Company is also the exclusive producer and distributor of ROLODEX® Electronics brand personal information management products. Franklin has sold more than 20,000,000 electronic books and currently publishes more than 200 titles, including dictionaries and bilingual dictionaries; encyclopedias; Bibles; entertainment titles; education and tutorial publications; and medical reference works. Franklin products, available in sixteen languages, are sold in 45,000 retail outlets worldwide and through catalogs and the Internet. More information about Franklin can be found at http://www.franklin.com. The Company has sales and distribution subsidiaries in the United Kingdom, France, Germany, the Benelux countries, Canada, Australia, Mexico, Singapore, and South Africa, and production management offices in Tokyo and Hong Kong.

ROLODEX^® is a registered trademark of Sterling Plastics Co., a subsidiary of Newell Co. NuvoMedia, Rocket eBookä and RocketEdition™ are trademarks of NuvoMedia, Inc. Other product and company names herein may be trademarks of their respective owners

Except for the historical information contained herein, the matters discussed throughout this release, including, but not limited to, those that are stated as Franklin’s belief or expectation or preceded by the word "should" are forward looking statements that involve risks to and uncertainties in Franklin’s business, including, among other things, the timely availability and acceptance of new electronic reference products, organizers, and computer companion products, changes in technology, the impact of competitive electronic products, the management of inventories, Franklin’s dependence on third party component suppliers and manufacturers, including those that provide Franklin-specific parts, and other risks and uncertainties that may be detailed from time to time in Franklin’s reports filed with the Securities and Exchange Commission.

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