4 million for its third quarter the year before .33 million a year ago.5 million for its quarter
ending March 31, 2006. The forward-looking statements contained herein include
statements about future financial and operating results of Salon. Salon is under
no obligation to and expressly disclaims any such obligation to update or
alter its forward -looking statements, whether as a result of new
information, future events or otherwise.
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
(Unaudited)

Three Months Ended Nine Months Ended
December 31 December 31
2005 2004 2005 2004
------- ------- ------- -------

Net revenues $ 2,069 $ 2,150 $ 5,353 $ 5,139
------- ------- ------- -------

Operating expenses:
Production and content 1,183 1,131 3,276 3,335
Sales and marketing 389 551 1,054 1,406
Research and development 146 158 519 449
General and administrative 257 163 706 524
------- ----- -- ------- -------
Total operating expenses 1,975 2,003 5,555 5,714
------- ------- ------- -------

Profit (loss) from operations 94 147 (202) (575)
Other income (expense), net 1 125 21 572
------- ------- ----- -- -------
Net profit (loss) 95 272 (181) (3)
Preferred deemed dividend (1,040) 123 (1,040) 252
Net profit (loss) attributable
to common stockholders $ (945) $ 395 $(1,221) $ 249
======= ======= ======= =======

Basic net profit (loss) per
share attributable to common
stockholders $ (0.

-- "Making the Transition from Journalist to Author" outlines the process
from acquisition to publication.

newsportal wireweb

A number of housing industry experts will
add their insights on how fragile the housing bubble really is.
As NAREE celebrates more than 75 years of service, "Capital Ideas" is
designed to help members advance their careers as editors, writers,
columnists, and freelancers.

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3 million profit attributable to common
stockholders for the current quarter compared to a profit of $0. Forma Reported Adj. There will be a panel on what Generation
Y wants to buy.

opinionated sarcastic

(OTC BB: SALN),
an Internet media company, announced today a net loss attributable to
common stockholders of $0.
PRO FORMA CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands)
(Unaudited )

Three Months Ended Nine Months Ended
December 31, December 31,
-- ---------------- -----------------
2005 2004 2005 2004
---- ---- ---- ----

Net profit (loss) attributable to
common stockholders $ (945) $ 395 $(1,221) $ 249

Less:
Benefits resulting from
re-valuing warrants issued in
conjunction with operations - (135) - (541)
Utilization of prepaid advertising
rights 75 159 173 440
Gain on issuance of stock for trade
payable - (25) - (25)
Depreciation and amortization
charges 22 121 102 299
Stock compensation charges 70 - 132 -
Allowance for doubtful accounts
charges - 3 - 2
Preferred deemed dividend benefits
from re-valuing warrants issued
to preferred stockholders - (123) - (470)
Preferred deemed dividend charges
from issuance of preferred stock 1,040 - 1,040 218
-- ----- ------- ------- -------
Pro forma net profit attributable
to common stockholders $ 262 $ 395 $ 226 $ 172
======= ======= ======= =======


SALON MEDIA GROUP, INC. David Lereah , National
Association of Realtors Chief Economist and author; WCI president and CEO
Jerry Starkey; and Peter Rummell, chairman and CEO The St."

-- "EJournalism: The Next Generation from The Video News Story and Blogs
to I-Pod Casting" offers a road map for journalists and communicators
to navigate off the printed page. Reserve rooms directly at the special $149 rate at the
Hilton Washington Embassy Row at 800-695-7460.

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5
million compared to $0. Forma
- ------- -------- -------- -------- -------- --------
Net revenues $ 2,069 $ - $ 2 ,069 $ 5,353 $ - $ 5,353

Operating
expenses:
Production and
content 1,183 (81) 1,102 3,276 (171) 3,105
Sales and
marketing 389 (78) 311 1,054 (184) 870
Research and
development 146 (7) 139 519 (45) 474
General and
administrative 257 (1) 256 706 (7) 699
-------- -------- -------- ----- --- -------- --------
Total
operating
expenses 1,975 (167) 1,808 5,555 (407) 5,148
-------- -------- -------- -------- -------- --------

Profit (loss)
from
operations 94 167 261 (202) 407 205
Other income
(expense), net 1 - 1 21 - 21
-------- -------- -------- -------- -------- --------
Net profit
(loss) 95 167 262 (181) 407 226
-- ------ -------- -------- -------- -------- --------
Preferred deemed
dividend (1 ,040) 1,040 - (1,040) 1,040 -
-------- -------- ------ -- -------- -------- --------
Net profit
(loss)
attributable to
common
stockholders $ (945) $ 1,207 $ 262 $ (1,221) $ 1,447 $ 226
======== ======== ======== ======== ======== ========


(1) In accordance with accounting principles generally accepted in the
United States


SALON MEDIA GROUP, INC.

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The quarter ended
December 31, 2005 results were significantly impacted by a non-cash
preferred deemed dividend charge of $1. These statements are based on management's current
expectations and are naturally subject to uncertainty and changes in
circumstances. EDT in the Ambassador Room.
NAREE's exclusive conversation with Giuliani will center on "Protecting
America's Office Buildings and Public Spaces in the Face of Bioweapon and
Chemical Attacks.
Federal Reserve Governor Edward Gramlich will also address to the group in
a session on the morning June 3.

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On a non-GAAP pro forma basis , which excludes non-cash and non-recurring
items, Salon recorded a $0.

"We are pleased to report our current quarter pro forma profit and our
second consecutive pro forma profit for a nine month period," stated
Elizabeth Hambrecht, Salon's CEO and President. Salon anticipates Salon
Premium revenues of approximately $0. Whether on a daily deadline or stocking up on
ideas and new sources for the coming months, NAREE's 2005 conference holds the
keys to telling the real story -- better , faster.

Register online at http://www.

Mary Doyle-Kimball
Executive Director
National Association of Real Estate Editors
1003 NW 6th Terrace
Boca Raton, FL 33486
561-391-3599

newsportal sarcastic

9 million for its third quarter ended December
31 , 2005, compared to a net profit attributable to common stockholders of
$0.4 million, with advertising
sales comprising $0. We do not believe that our
reported results should be considered predictive of future period or full
year results.02

Diluted net profit (loss) per
share attributable to common
stockholders $ (0.

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4 - $0. Private Securities Litigation Reform
Act of 1995: This press release contains certain "forward-looking"
statements within the meaning of the Private Securities Litigation Reform
Act of 1995.

Note: Salon is a trademark and a registered trademark of Salon Media Group,
Inc.

-- NAREE's Annual Journalism Awards Banquet will showcase award-winning
work in more than 20 categories from "Best Section" to "Best Overall
Individual Entry.

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Salon Media Group, Inc.1 million, a
decrease of 4% from $2.00 $ (0.

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"While our results showed
some year-on-year improvements," she continued, "we were disappointed that
our quarter advertising sales were essentially flat from a year ago, and
we're continuing efforts to develop a highly engaging advertising product
and broaden our readership, in order to stay on top of key trends in the
advertising market. Committed to interactivity, the Website also hosts two
online communities, Table Talk and The Well. Forma Reported Adj.com, and more .

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4 million
in the prior year quarter. Readers of Salon's consolidated
financial statements are advised to review and carefully consider the
financial information prepared in accordance with GAAP contained in this
press release and Salon's periodic filings with the Securities and Exchange
Commission .:

Founded in 1995, Salon is an Internet publishing company.
PRO FORMA CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
(Unaudited)

Three Months Ended Nine Months Ended
December 31, 2005 December 31, 2005
------- --------------------- ----------------------------
As (1) Pro As (1) Pro
Reported Adj.
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands, except share and per share amounts)

December 31, March 31,
2005 2005
(Unaudited )
--------- ---------
Assets
Current assets:
Cash and cash equivalents $ 500 $ 686
Accounts receivable, net 1,219 623
Prepaid expenses, and other current assets 115 232
--------- ---------
Total current assets 1,834 1,541
Property and equipment, net 187 191
Prepaid advertising rights 3,797 3,970
Goodwill 200 200
Other assets 169 167
--------- ---------
Total assets $ 6,187 $ 6,069
========= =========
Liabilities and stockholders' equity
Current liabilities:
Accounts payable and accrued liabilities 712 788
Deferred revenue 906 1,047
--------- ---------
Total current liabilities 1,618 1,835
Other long-term liabilities 127 82
--------- ---------
Total liabilities 1,745 1,917
--- ------ ---------

Stockholders' equity:
Common stock 15 15
Preferred stock - -
Additional paid-in-capital 96,992 95,430
Unearned compensation (51) -
Accumulated deficit (92,514) (91,293)
--------- -- -------
Total stockholders' equity 4,442 4,152
--------- ---------
Total liabilities and stockholders '
equity $ 6,187 $ 6,069
========= =========

Giuliani will keynote NAREE's Media Forum where housing, design, real
estate, and financial journalists from across the country will gather on
Friday, June 3 at 11:20 A.
Kermit Baker, Chief Economist for the American Institute of Architects
will discuss housing design trends.

viewzone gradient

38 million from $1. These pro forma measures are not in
accordance with, or an alternative for, GAAP and may be different from pro
forma measures used by other companies. WASHINGTON, Former New York City Mayor Rudolph
Giuliani will speak to the nation's leading real estate journalists during the
National Association of Real Estate Editors (NAREE) 39th Annual Conference
here which runs June 2-5 at the Hilton Washington Embassy Row hotel off Dupont
Circle.
Housing and Urban Development Secretary Alphonso Jackson will kick off the
conference on Thursday, June 2 at 4:55 PM in the Ambassador Room at the
Hilton. 25 journalists are expected to
participate from news outlets including the Washington Post, Chicago
Tribune, New York Post, San Diego Union-Tribune, Real Estate
Forum/GlobeSt. Hotel room block expires
Thursday, May 12.

bracket kurrent

On a year-to-date non-GAAP pro forma basis,
Salon recorded a $226,000 profit attributable to common stockholders
compared to a profit of $172,000 in the prior year nine-month period.

Salon forecasts that it will most likely report a net loss for its quarter
ending March 31, 2006 and cannot accurately predict its results for future
quarters.
More detailed information about these factors is set forth in the reports
filed by Salon with the Securities and Exchange Commission. All other company and product names mentioned are trademarks of their
respective owners." The Media Forum follows a panel on Homeland Security and
Real Estate.

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M.
National Association of Home Builders Chief Economist, David Seiders will
give his midyear economic forecast on June 3.

wireweb opinionated

6 million a year ago."

A reconciliation of net profit (loss) attributable to common stockholders
calculated in accordance with generally accepted accounting principles in
the United States of America (GAAP) and pro forma net income (loss)
attributable to common stockholders is provided immediately following the
consolidated statements of operations.8 million of the total. Salon cannot accurately predict total revenues
after March 31, 2006 owing to the relatively short time frame in which
advertising orders are secured and when they run on our Website and the
lack of significant long-term advertising orders.08) $ 0.08) $ 0.

sarcastic infrequent

John
Tuccillo, who advises many of the largest real estate brokerage and home
building firms will discuss "Hard Landing, Soft Landing, or No Landing , on
Sunday, June 5 at 10:15 AM.

The NAREE Conference features a range of professional development and
networking opportunities:

-- NAREE's "Meet the Press" will offer free lance writers, authors and
professional communicators the opportunity to pitch story ideas one-on-
one in a series of five-minute meetings with real estate writers,
editors , columnists and free lancers.

opinionated newsportal

0 million from the issuance of
preferred stock during the quarter.

Future Periods Guidance:

Salon does not believe that the quarter or nine months ended December 31,
2005 GAAP and non-GAAP financial results should be considered predictive of
future quarter or year results.5 - $0.4 million of firm commitments to serve advertisements during the quarter
ending March 31, 2006. Salon's
award-winning journalism combines original investigative stories and
provocative personal essays along with quick-take commentary and
staff-written Weblogs about politics, technology , culture and
entertainment.S.



SALON MEDIA GROUP, INC.06 ) $ 0.naree.

unsuccessful opinionated

However, due
to a decrease in subscriptions, Salon Premium revenues declined to $0. Factors
that could cause actual results to differ materially from those described
herein include: the economic environment of the media industry; the
difficulty in securing on-line advertising; growth in subscription revenue
programs; uncertain revenue sources and the general economic environment . Forma
-------- -------- -------- -------- -------- --------
Net revenues $ 2,150 $ - $ 2,150 $ 5,139 $ - $ 5,139
-------- -------- -------- -------- -------- --------

Operating
expenses:
Production and
content 1,131 (65) 1,066 3,335 (134) 3,201
Sales and
marketing 551 (174) 377 1,406 (471) 935
Research and
development 158 (12) 146 449 (30) 419
General and
administrative 163 24 187 524 45 569
-------- -------- -------- ----- --- -------- --------
Total
operating
expenses 2,003 (227) 1,776 5,714 (590) 5,124
-------- -------- -------- -------- -------- --------

Profit (loss)
from operations 147 227 374 (575) 590 15
Other income
(expense), net 125 (104) 21 572 (415) 157
-------- -------- -------- -------- -------- --------
Net profit
(loss ) 272 123 395 (3) 175 172
Preferred deemed
dividend 123 (123) - 252 (252) -
-------- ----- --- -------- -------- -------- --------
Net profit
(loss)
attributable to
common
stockholders $ 395 $ - $ 395 $ 249 $ (77) $ 172
======== ======== ======== ======== ======== ========

(1) In accordance with accounting principles generally accepted in the
United States


SALON MEDIA GROUP , INC.

viewzone sarcastic

Salon believes that the
presentation of pro forma results provides useful information to management
and investors regarding underlying trends in its consolidated financial
condition and results of operations.
The NAREE conference is designed to bring top national real estate news
sources under one roof during its panels, press conferences and tours.org.

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1 - $1.

About Salon Media Group , Inc.

"Safe Harbor" Statement under the U. Joe Company will
discuss vacation housing trends on Saturday, June 4.

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PRESS RELEASE Salon Reports Third Quarter Fiscal Year 2006 Results

PRO FORMA CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
(Unaudited)

Three Months Ended Nine Months Ended
December 31, 2004 December 31, 2004
---------------------------- ----------------------------
As (1) Pro As (1) Pro
Reported Adj.

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During the current fiscal
year, Salon has added new features such as the daily music download column
Audiofile , Videodog video clips, the Daou Report, an opinionated guide to
the blogosphere, and the ability to automatically submit Letters to the
Editor. The condo conversion boom, remodeling trends and the latest
take on private property rights will also be covered among other topics.

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This
is the first time in Salon's history that it has been able to put together
two back-to-back non-GAAP pro forma profits for a nine month period. Due to seasonality, Salon estimates that total revenues for its
quarter ending March 31, 2006 will be $1. Currently, Salon has
$0. Actual results may vary materially from the expectations
contained herein.00




SALON MEDIA GROUP, INC. And economist Dr.

kurrent jinx

Total revenues for the quarter ended December 31, 2005 were $2 .2 million a year ago, with advertising revenues
increasing 4% to $1.06) $ 0.03 $ (0.

Former New York Mayor Rudy Giuliani to Meet with Real Estate Reporters from Around the Nation

For more information call NAREE executive director, Mary Doyle-Kimball at
561-391-3599.

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---

- - kjjkjk

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