Exhibit 99.1



FOR IMMEDIATE RELEASE

               Student Advantage Receives Nasdaq Delisting Notice,
                       Will Appeal; Updates Recent Events

BOSTON, December 10, 2002 --- Student Advantage, Inc. (Nasdaq: STAD) today
announced that it received a Nasdaq Staff Determination on December 4, 2002
indicating that the company fails to comply with the market value of
publicly-held shares requirement for continued Nasdaq National Market listing
set forth in Marketplace Rule 4450(a)(2), and that its securities are therefore
subject to delisting from the Nasdaq National Market. The company intends to
appeal the Staff's determination to the Nasdaq Listing Qualifications Panel
which will stay the delisting until the appeal has been heard and the Panel has
rendered its decision. There can be no assurance the Panel will grant the
company's request for continued listing.

The company also received notice on November 21, 2002 from the Staff that the
company did not comply with the minimum $10 million stockholders' equity test
for continued inclusion in the Nasdaq National Market as required by Marketplace
Rule 4450(a)(3). The company expects to address this deficiency with the Panel.

Recent Events

The company is continuing discussions with a group of existing stockholders
including its president and chief executive officer regarding a possible
acquisition of the company or assets of the company or the restructuring of its
indebtedness. The company is also pursuing other strategic alternatives.

The company also learned that the liquidating trustee of the CollegeClub
bankruptcy estate has brought suit against the company and another party
regarding payments received under an agreement the company purchased in 2000.
The company believes that the trustee's allegations are factually incorrect and
are inconsistent with the terms of its acquisition agreement with
CollegeClub.com and intends to defend the matter vigorously. If, however, the
company is found to have significant liability to the liquidating trustee, its
financial condition and liquidity would suffer significant harm.


About Student Advantage

Student Advantage, Inc. (Nasdaq: STAD) is a leading integrated media and
commerce company focused on the higher education market. Student Advantage works
with more than 1,000 colleges, universities and campus organizations, and more
than 15,000





merchant locations to develop products and services that enable students to make
purchases less expensively and more conveniently on and around campus. The
company's university and business relationships allow it to sell campus-specific
consumer products and licensed collegiate sports memorabilia directly to
parents, students and alumni. The company reaches its consumer base offline
through the Student Advantage Membership and Campus Services and online through
its highly-trafficked Web sites studentadvantage.com, CollegeClub.com and
CollegeSports.com, the hub site for its Official College Sports Network.

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 the risks associated with
the failure of the company to reach agreement with third parties for the
acquisition of the business, the difficulties in maintaining listing on the
Nasdaq National Market, the failure of the company to obtain the requisite
stockholder approval, doing business with colleges and universities, the
uncertain nature of the regulatory structure of the SA Cash offerings, the
company's need to raise additional capital, the seasonality of the company's
revenues, the cyclical nature of the company's business, economic and other
conditions in the company's markets, the competitive environment, the failure to
achieve the anticipated benefits of acquisitions and strategic partnerships for
any reason, the company's progress to profitability and uncertainties and other
risks discussed in documents filed by the company with the Securities and
Exchange Commission including, without limitation, under "Factors that May
Affect Future Results" set forth in Student Advantage's Quarterly Report on Form
10-Q for the quarter ending September 30, 2002. 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.


Contacts:         Public Relations                   Investor Relations
                  Heidi Van Vliet                    Angela Blackman
                  617.912.2031                       617.912.2071
                  hvliet@studentadvantage.com        angela@studentadvantage.com
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