thePit.com Obtains Commitment from The Topps Company, Inc. - New York Based Online Sports Card Stock Market to Receive $1.6 Million -

Apr 23, 2001, 01:00 ET from thePit.com

    WHITE PLAINS, N.Y., April 23 /PRNewswire Interactive News Release/ --
 The Topps Company, Inc. (Nasdaq: TOPP) (http://www.topps.com), a leading
 manufacturer of collectible sports and entertainment trading cards has agreed
 to invest $1.6 million in thePit.com (http://www.thePit.com), the first-ever
 online "stock market" for sports trading cards.
     "It is very exciting to have Topps, a sports card industry leader, as both
 a strategic partner and an investor in our business," said Marc Lore, CEO of
 thePit.com. "On the heels of closing our $4 million Series A round of
 financing, we are looking forward to our relationship with Topps, which will
 allow thePit.com to further grow our core business by adding thousands of new
 cards to our exchange," Lore added. "We are excited about the future --
 together we are confident that thePit.com will truly become THE destination
 for avid sports card investors and collectors."
     Warren Friss, Co-Director of Topps Internet Group said: "We are pleased
 with the prospect of becoming an early investor in thePit.com. We believe they
 have excellent potential for growth.  In addition, this fits nicely with our
 strategy of using the web to promote our products."
     The Topps investment is contingent upon thePit.com raising additional
 equity capital.  In exchange for the investment, thePit.com will also provide
 exclusive promotional and other consideration to Topps.  In addition, a "Topps
 Emerging Card Index" will be added to thePit.com's website and will feature
 the cards of the most promising future stars from the four major sports.
 
     About thePit.com
     Based in White Plains, NY, thePit.com (http://www.thePit.com) is the
 first-ever online collectibles "stock market" where investors and collectors
 can buy and sell listed, investment-grade collectibles instantly and reliably
 pursuant to bid/ask prices set by market forces. thePit.com's technology,
 design and content resemble that of an on-line broker, featuring a real-time
 ticker, various "Dow Jones" type indices, historical price graphs, breaking
 industry news, and customized personal portfolios. In short, thePit.com
 promises to transform the way investors collect and collectors invest.
 Launched in October 2000 as a stock market for sports cards, thePit.com
 features six days of live trading, with the market opening at noon and closing
 at 8:00 p.m. EST. More information is available at www.thePit.com.
 
    About Topps
    Topps is an international marketer of entertainment products, principally
 collectible trading cards, candy and sticker/album collections.  Topps plans
 to launch its own on-line initiative, "etopps," a trading card available only
 on the internet during the second half of the 2001 baseball season.   For more
 information, visit http://www.topps.com.
     The Topps Company was founded in 1938 as Topps Chewing Gum, and in its
 early years produced a popular penny "Topps Gum" from a factory in Brooklyn,
 N.Y.  After World War II, the company developed Bazooka Bubble Gum, and in
 1951 added trading cards to its product line.  Baseball cards appeared in 1951
 and quickly became a vital part of pop culture, a tradition that continues to
 this day, and includes football (both American and European) and basketball,
 in addition to entertainment cards, stickers and albums, and specialty
 publications. Topps maintains offices in Canada, the United Kingdom, Ireland,
 Italy, Brazil, and Argentina, in addition to the U.S.
     Topps also manufactures the popular lollipop brands Baby Bottle Pop, Ring
 Pop and Push Pop and other novelty candy and gum products. Now headquartered
 in New York City, the company has worldwide distribution, annual revenues in
 FY2001 of $439,000,000, and employs over 420 people worldwide.
 
                     MAKE YOUR OPINION COUNT -- Click Here
                http://tbutton.prnewswire.com/prn/11690X07935567
 
 

SOURCE thePit.com
    WHITE PLAINS, N.Y., April 23 /PRNewswire Interactive News Release/ --
 The Topps Company, Inc. (Nasdaq: TOPP) (http://www.topps.com), a leading
 manufacturer of collectible sports and entertainment trading cards has agreed
 to invest $1.6 million in thePit.com (http://www.thePit.com), the first-ever
 online "stock market" for sports trading cards.
     "It is very exciting to have Topps, a sports card industry leader, as both
 a strategic partner and an investor in our business," said Marc Lore, CEO of
 thePit.com. "On the heels of closing our $4 million Series A round of
 financing, we are looking forward to our relationship with Topps, which will
 allow thePit.com to further grow our core business by adding thousands of new
 cards to our exchange," Lore added. "We are excited about the future --
 together we are confident that thePit.com will truly become THE destination
 for avid sports card investors and collectors."
     Warren Friss, Co-Director of Topps Internet Group said: "We are pleased
 with the prospect of becoming an early investor in thePit.com. We believe they
 have excellent potential for growth.  In addition, this fits nicely with our
 strategy of using the web to promote our products."
     The Topps investment is contingent upon thePit.com raising additional
 equity capital.  In exchange for the investment, thePit.com will also provide
 exclusive promotional and other consideration to Topps.  In addition, a "Topps
 Emerging Card Index" will be added to thePit.com's website and will feature
 the cards of the most promising future stars from the four major sports.
 
     About thePit.com
     Based in White Plains, NY, thePit.com (http://www.thePit.com) is the
 first-ever online collectibles "stock market" where investors and collectors
 can buy and sell listed, investment-grade collectibles instantly and reliably
 pursuant to bid/ask prices set by market forces. thePit.com's technology,
 design and content resemble that of an on-line broker, featuring a real-time
 ticker, various "Dow Jones" type indices, historical price graphs, breaking
 industry news, and customized personal portfolios. In short, thePit.com
 promises to transform the way investors collect and collectors invest.
 Launched in October 2000 as a stock market for sports cards, thePit.com
 features six days of live trading, with the market opening at noon and closing
 at 8:00 p.m. EST. More information is available at www.thePit.com.
 
    About Topps
    Topps is an international marketer of entertainment products, principally
 collectible trading cards, candy and sticker/album collections.  Topps plans
 to launch its own on-line initiative, "etopps," a trading card available only
 on the internet during the second half of the 2001 baseball season.   For more
 information, visit http://www.topps.com.
     The Topps Company was founded in 1938 as Topps Chewing Gum, and in its
 early years produced a popular penny "Topps Gum" from a factory in Brooklyn,
 N.Y.  After World War II, the company developed Bazooka Bubble Gum, and in
 1951 added trading cards to its product line.  Baseball cards appeared in 1951
 and quickly became a vital part of pop culture, a tradition that continues to
 this day, and includes football (both American and European) and basketball,
 in addition to entertainment cards, stickers and albums, and specialty
 publications. Topps maintains offices in Canada, the United Kingdom, Ireland,
 Italy, Brazil, and Argentina, in addition to the U.S.
     Topps also manufactures the popular lollipop brands Baby Bottle Pop, Ring
 Pop and Push Pop and other novelty candy and gum products. Now headquartered
 in New York City, the company has worldwide distribution, annual revenues in
 FY2001 of $439,000,000, and employs over 420 people worldwide.
 
                     MAKE YOUR OPINION COUNT -- Click Here
                http://tbutton.prnewswire.com/prn/11690X07935567
 
 SOURCE  thePit.com