EXHIBIT 1.2 [LETTERHEAD FOR INTERACTIVE NETWORK] Interactive Network, Inc. Completes Settlement Agreement with TCI, Motorola, NBC, and Sprint BELMONT, Calif.--April 26, 1999--Bruce Bauer, Chairman and CEO of Interactive Network, Inc. (Nasdaq: INNN), announced today that on April 22, 1999, the US Bankruptcy Court's order confirming its plan of reorganization had become non- appealable and final. The Company further announced that today, April 26, 1999, the Settlement Agreement with TCI, NBC, Sprint, and Motorola was completed. The results are as follows: - -- The $38.4 million in principal and accrued interest of the Company's notes were converted by TCI, NBC, Sprint, and Motorola (noteholders) at $5.00 per share into 7,814,588 shares of Interactive Network, Inc. common stock. - -- The return of clear title of Interactive Network's patent portfolio and other assets to the Company. - -- The noteholders paid $10 million plus accrued interest to Interactive Network. The Company has allocated a substantial portion to pay its creditors and to form a reserve account for the claims of creditors it is disputing. Contact: Interactive Network, Inc., Belmont Bruce W. Bauer, 650/508-8793