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Jordan Goldstein TheStreet.com 212.321.5475

NEW YORK, Oct. 16, 2002 - TheStreet.com, Inc (Nasdaq: TSCM ), a leading multimedia provider of financial commentary, analysis, research and news, today announced its financial results for the quarter ended Sept. 30, 2002, which included its sixth consecutive quarter of subscription revenue growth.

Net revenue was $5.3 million in the third quarter 2002. This was an increase of 54 percent over the third quarter 2001 and a 3 percent decrease from second quarter 2002. Net loss under generally accepted accounting principles was ($1.8) million, or ($0.08) per share for the quarter, which was a 79 percent improvement over the same period last year of ($8.9) million, or ($0.35) per share, and a 6 percent improvement from the second quarter.

Total cash burn in the third quarter 2002 was $658,998. This was an improvement of 94 percent over the cash burn of third quarter 2001 of $10.9 million and essentially flat from the second quarter 2002 of $666,211. This represents the lowest quarterly cash burn in the Company's public history and the second consecutive quarter that the Company has reduced its cash burn to a new low. The Company ended the quarter with approximately $30 million in cash, restricted cash, and investments.

Total expenses were $7.5 million in the third quarter 2002, an improvement of 41 percent over the $12.8 million in the same period last year and a modest improvement from the $7.7 million in second quarter 2002.

"We are pleased that our efforts in diversifying our product offerings in both the professional and consumer investment markets have resulted in our sixth consecutive quarter of subscription revenue increase," said Thomas J. Clarke Jr., Chairman and Chief Executive Officer of TheStreet.com. "The reduction in our cash burn and our strong cash position of approximately $30 million will enable us to focus our attention on the development of new revenue opportunities in the institutional space. With a strong belief that we have the top products for the self-directed investor on the consumer side, we are confident that greater margin expansion is achievable with continued expansion on the institutional side."

Subscription

Subscription revenue for the third quarter 2002 rose to $4.0 million, an increase of 71 percent over the same period last year and an increase of 9 percent from the second quarter 2002. This is the highest quarterly subscription revenue in the Company's public existence. Subscription bookings for the third quarter totaled $4 million, an increase of 121 percent over the same period last year and a 10 percent decrease from the second quarter 2002.

Advertising

Advertising revenue was $1.1 million for the third quarter 2002, an increase of 16 percent over the same period last year and a decrease of 14 percent from second quarter 2002.

Clarke added, "We are very pleased that in what traditionally has been a soft quarter for advertising we were able to post a positive year-over-year increase. With a subscriber base exhibiting some of the strongest demographics on the web, we continue to be a must buy for the financial sector, and are seeing strong interest among advertisers in the luxury goods, auto, technology, and travel categories."

Operating Results Improve

The Company's gross margin was 69 percent in the third quarter 2002, comparing favorably with 43 percent in the same period last year and 67 percent during second quarter 2002. The Company has improved its gross margin in five of the last six quarters.

Operating expenses totaled $5.9 million, an improvement of 46 percent over the same period last year and essentially flat from the second quarter 2002. Operating expenses in the third quarter were flat from the second quarter, despite a 14 percent increase in sales and marketing expense, reflecting the cost of increasing staff and resources in the Company's newly formed Professional Markets Group.

Cash burn decreased during the third quarter, down 94 percent over the same period last year and essentially flat from the second quarter 2002. Cash, restricted cash and investments as of Sept. 30, 2002, remained essentially flat from the previous quarter, at approximately $30 million.

"We are proud that we were able to decrease our cash burn to a new low for the second consecutive quarter," Clarke continued. "Much effort has gone into improving our product development and editorial operating efficiencies, as we continue to focus on improving our operating margins."

Q3 2002 Business Highlights

-The Company continued to diversify its product offerings for active traders and investment professionals with the following launches:

• -The Company continued to diversify its product offerings for active traders and investment professionals with the following launches:
• RealMoney Pro Advisoris a real-time equity research tool that provides brokers, financial consultants, investment advisors and financial planners with investment and trading ideas throughout the market day. This product offering represents the first product the Company has created that is a compilation of existing content packaged specifically for this user group. This process will enable the Company to reach new subscribers without incurring costs of creating new content, thereby creating margin expansion opportunities.
• The Trading Reports by Jeff Cooperwritten by one of the country's most renowned short-term traders, gives subscribers his exclusive long and short equity picks along with entry and protective stop points provided in a daily email service. This subscription offering is targeted at active self-directed investors and traders.
• RealMoney with Jim Cramer, a daily financial radio program nationally syndicated by Premiere Radio Networks, has added its 56th station - WXDX-AM in Detroit. The show continues to attract a greater listener base, currently airing on six of the top-ten radio markets, including New York, Los Angeles, Boston, Washington D.C., Philadelphia and Detroit.
• " The Company continued to expand its stable of leading investment professionals with the addition of Melanie Hollands, a former McKinsey & Company analyst who posts regularly on RealMoney Pro and TheStreet View, and Dave Baker, a day trader who writes a column twice a week on RealMoney.

TheStreet.com will conduct a conference call today, Oct. 16, at 11:00 a.m. EST to discuss these results. The Company welcomes all interested parties to listen to the Web cast of its call at: http://www.thestreet.com/tsc/ir/conferencecalls.html.

About TheStreet.com, Inc.

TheStreet.com, Inc. (Nasdaq: TSCM) is a leading multimedia provider of proprietary, timely, independent and insightful financial commentary, analysis, research and news. TheStreet.com brand is built on our best-in-class editorial team of experienced financial commentators and journalists. On the Internet, our premium, subscription-based website, RealMoney.com is accompanied by our professionally oriented subscription sites, RealMoney Pro and RealMoney Pro Advisor, and our free, flagship site, TheStreet.com. In addition, our content is available across diverse media platforms, including the internet, print, radio and conferences, giving us more opportunities to generate revenue from the content we produce. Our strategic relationships with leading companies in the media, technology and financial services sectors help us create brand awareness and increase subscription and advertising revenue.

Statements contained in this news release not related to historical facts may be deemed forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties (described in the Company's SEC filings), which could cause actual results to differ.