May 29, 2002

ATLANTA - The Mountain West Conference and Student Advantage's Official College Sports Network (OCSN), the most popular college sports destination on the Internet, announced an extension of one of the longest-running relationships in the digital age of college athletics. The Mountain West Conference has extended its agreement with OCSN for the exclusive rights to publish the MWC's Official Athletic Web site www.TheMWC.com.

OCSN originally launched the "www.mountainwestconf.com" on July 1, 1999. The site has undergone several upgrades, including a redesign and name change, which debuted last year. Along with its new look and URL, TheMWC.com offers fans and media comprehensive information on all 19 Mountain West Conference championship sports and its eight member institutions. The site features extensive audio clips from various MWC coaches' teleconferences, events such as football and basketball media days and the This Week in the Mountain West radio show. TheMWC.com also offers online shopping in the Mountain West Conference FANShop and a free MWC newsletter email service. Throughout the year there are scheduled online chat sessions and a regular "Ask the Commissioner" feature, where fans email questions to Commissioner Craig Thompson.

OCSN (www.collegesports.com) is regularly measured as a top-10 sports site by Media Metrix, and is now the home to 122 Official Athletic Sites.

"The MWC looks forward to a relationship with OCSN that will continue for many more years," said MWC Commissioner Craig Thompson. "OCSN has been the leader in collegiate website servicing and more and more fans/alumni of all eight Mountain West Conference institutions are turning to our website for the very latest information."

"We are extremely proud to continue our partnership with the Mountain West Conference," said Jeff Cravens, Student Advantage's OCSN vice president and general manager. "The Mountain West Conference continues to recognize the importance of taking advantage of the digital age to keep a close relationship with its constituencies. We look forward to continuing to provide the MWC with a web presence that serves as the ultimate Internet destination for its fans."

About Student Advantage's OCSN

Student Advantage's OCSN is the most popular college sports destination on the Internet. The OCSN provides online brand management and content delivery to 122 university athletic departments/conferences in the country, through the publishing of Official Athletic Sites. Collegesports.com serves as the network hub, providing comprehensive information on collegiate sports, including in-depth statistical packages and analysis, information on collegiate recruiting, and team pages for every NCAA Division I school.

About Student Advantage

Founded in 1992, Student Advantage, Inc. (Nasdaq: STAD) is the most comprehensive provider of online and offline services for college students, universities and businesses targeting the student market. Student Advantage, Inc. reaches these constituents through its Student Services, University Services and Business Services groups. The mission of Student Advantage overall is to enhance the experiences of students nationwide in partnership with universities, bringing a trusted resource to students that gives them the "advantage" on every aspect of their daily lives.

Today, Student Advantage, Inc. reaches over one million students from 3000 colleges and universities nationwide and has proprietary commerce relationships with more than 50 national retailers and marketers and 15,000 participating locations in 125 cities throughout the country, including AT&T, Amtrak, Staples, textbooks.com and Tower Records.

# # #

This announcement may contain forward-looking statements, which are based on current expectations and involve a number of risks and uncertainties. There are a number of important factors that could cause actual results to differ materially from those expressed in any forward-looking statements made by Student Advantage. Investors are directed to consider other risks and uncertainties discussed in documents filed by the company with the Securities and Exchange Commission including, without limitation, under "Risk Factors" set forth in Student Advantage's Annual Report on Form 10-K. We undertake no obligation to publicly release the result of any revisions to these forward-looking statements, which may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.