EXHIBIT 99.1


                            JAG Media Holdings, Inc.

For Immediate Release:

Contacts:
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Stephen J. Schoepfer, EVP & COO
JAG Media Holdings, Inc.
 (888) 828-4174
steve@jagnotes.com
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         JAG Media Holdings, Inc. Announces Update Regarding Status of
                     Implementation of Custody Only Trading

Boca Raton, FL, January 30, 2003 - JAG Media Holdings, Inc. (OTCBB: JGMHA)
announced today an update regarding the status of its implementation of custody
only trading.

As mentioned in the Company's press release dated January 24, 2003, the Company
amended its By-Laws to adopt custody only trading and contacted the Depository
Trust Company ("DTC") on that date to inform DTC of the Company's adoption of
custody only trading and to arrange for implementation of the change as soon as
possible while preserving an orderly market for the Company's securities. DTC
indicated it would have an appropriate DTC representative get back to the
Company on this issue. To date the Company has not heard back from any
representatives of DTC and several calls by the Company's attorneys to the
office of DTC's General Counsel have likewise not been returned.

The Company has reviewed DTC's guidance statement issued on January 28, 2003 to
all DTC participants and, in particular, DTC's apparent reliance on the Uniform
Commercial Code as its basis for claiming that issuers do not have the right to
exit their securities from the DTC system. Based upon its review of the issues
to date, the Company disagrees with DTC's apparent legal position. The Company
notes that in DTC's guidance statement DTC indicated that "[t]his matter has not
yet been resolved between DTC and the issuers involved."

The Company intends to continue to pursue this matter with DTC in an attempt to
have the Company's securities exited from the DTC system in a voluntary manner
while preserving an orderly market in the Company's securities. However, the
Company is currently also assessing with its attorneys all options available to
the Company in light of DTC's apparent position.

Accordingly, the Company also contacted its transfer agent yesterday regarding
possible implementation of a Direct Registration System for the Company's
shares. Under such a system stockholders could elect to have their shares
registered directly on the Company's records in book-entry form. This would
offer stockholders an alternative to holding their shares in certificate form or
in "street name" and would provide stockholders with the benefit of assuring
their ownership rights in an electronic non-certificated form.


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The Company has devoted substantial time and resources to implementing custody
only trading in the best manner possible for its stockholders and in excess of
21,000,000 shares (representing in excess of 98% of the votes cast on this
matter) have, to date, been voted in favor of the Company's custody only trading
proposal contained in its proxy statement dated January 3, 2003.


About JAG Media Holdings, Inc.
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JAG Media Holdings, Inc. is a leading provider of Internet-based equities
research and financial information that offers its subscribers a variety of
stock market research, news, commentary and analysis, including "JAG Notes", the
Company's flagship early morning consolidated research product. The Company also
offers, through its wholly-owned subsidiary, JAG Company Voice LLC, its "Company
Voice" service which provides publicly traded companies with production services
and distribution for their corporate messages in streaming video/audio format.
The Company's websites are located at WWW.JAGNOTES.COM and
WWW.THECOMPANYVOICE.COM.


Safe Harbor Statement - Certain statements made herein that are not historical
are forward-looking within the meaning of the Private Securities Litigation
Reform Act of 1995 and may contain forward-looking statements, with words such
as "Anticipate, "believe," "expect," "future," "may," "will," "should," "plan,"
"projected," "intend," and similar expressions to identify forward-looking
statements. These statements are based on the Company's beliefs and the
assumptions it made using information currently available to it. Because these
statements reflect the Company's current views concerning future events, these
statements involve risks, uncertainties and assumptions. The actual results
could differ materially from the results discussed in the forward-looking
statements. In any event, undue reliance should not be placed on any
forward-looking statements, which apply only as of the date of this press
release. Accordingly, reference should be made to the Company's periodic filings
with the Securities and Exchange Commission.


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