EXHIBIT 99.1

                            JAG Media Holdings, Inc.

For Immediate Release:

Contacts:
Stephen J. Schoepfer, EVP & COO
JAG Media Holdings, Inc.
(888) 828-4174
steve@jagnotes.com

           JAG Media Holdings, Inc. Announces Asset Purchase Agreement
                        To Acquire XeQute Solutions, Inc.

Boca Raton, FL, August 12, 2003 - JAG Media Holdings, Inc. (OTCBB: JGMHA)
announced today that it has entered into an asset purchase agreement pursuant to
which it would acquire all of the assets and certain liabilities of XeQute
Solutions, Inc., a wholly-owned subsidiary of Vertex Interactive, Inc.
(OTCBB:VETX) based in Paramus, NJ. XeQute is a provider of supply chain
management technologies and services, including enterprise software systems and
applications, software/hardware maintenance services and consulting services,
which enable its customers to more effectively manage their order, inventory and
warehouse requirements.

"We are very excited about this proposed transaction with XeQute Solutions,
Inc.", said Gary Valinoti, President & Chief Executive Officer of JAG Media. "We
believe that XeQute's order management and other supply chain software business
is in an excellent position to take advantage of what many believe will be an
increase in IT spending over the next several years, creating excellent value
for JAG Media's stockholders," continued Valinoti.

Nicholas Toms, CEO of Vertex Interactive and XeQute Solutions, Inc., said "We
believe this will be a great transaction for both companies. JAG's position in
the financial markets will provide an excellent infrastructure to raise the
capital necessary for XeQute to benefit from the improving economy and
opportunities now emerging in its key markets. A combination, we believe, should
create a strong company with an excellent balance sheet in the supply chain
software business. We look forward to working with Gary Valinoti and his team to
make this a success for all our stockholders."

Under the terms of the asset purchase agreement the Company would establish a
newly formed wholly owned subsidiary which would purchase the assets and assume
certain liabilities of XeQute. Upon closing of the transaction, in consideration
of the transfer of the assets and liabilities of XeQute as described above, the
Company would pay $3.5 million to XeQute and issue shares of its Class A common
stock to XeQute, which upon issuance would represent 54% of the Company's
outstanding common stock on a fully diluted basis. Such shares will be subject
to a post-closing lock-up provision restricting the shares from being registered
for sale prior to twelve (12) months after the closing of the transaction.




The closing of the transaction is subject to various conditions, including,
among others, the parties agreeing upon various schedules to the asset purchase
agreement, XeQute providing JAG Media with complete audited financial statements
for the business of XeQute for the two fiscal years through September 30, 2003
and XeQute arranging an $8 million financing to be consummated at the closing.
There is no assurance that the conditions to the proposed transaction will be
met or, if met, that the transaction will be consummated.

Upon consummation of the transaction, the Company's current management team
would resign from their positions as executive officers and directors of JAG
Media Holdings but would continue to be involved as consultants or employees to
our JAG Media LLC operating subsidiary. The transaction with XeQute would also
trigger the change-in-control provisions in the existing employment agreements
of the Company's current management team, resulting in the issuance of new
options to acquire shares of the Company's stock and severance payments to such
individuals.

Upon the closing of the transaction, the Company would also take various
corporate actions, including an appropriate name change to better reflect the
new overall business of the Company, the election of new XeQute nominees to the
Board of Directors and a recapitalization pursuant to which the Company's Class
A common stock and Series 1 Class B common stock will be exchanged for a new
Series 4 Class B common stock on a one-for-one basis. The new Series 4 Class B
shares shall be issued and traded in certificated form only, may not be
registered in the name of a nominee such as Cede & Co. or The Depository Trust
Company and at all times the name of the beneficial owner of such shares shall
be reflected on the face of the certificate. The new Series 4 Class B shares
would also reflect the new name of the Company and would have a new CUSIP number
and ticker symbol.

The asset purchase agreement summarized above will be filed with the SEC as an
exhibit to a Current Report on Form 8-K.

Any shares of JAG Media Holdings, Inc. to be offered and sold as contemplated
herein will not be registered under the Securities Act of 1933, as amended, and
may not be offered or sold in the United States absent such registration or an
applicable exemption from such registration requirements.

This news release shall not constitute an offer to sell or the solicitation of
an offer to buy, nor shall there be any sale of the shares of JAG Media
Holdings, Inc. in any jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under applicable
securities laws, or absent the availability of an exemption from such
registration or qualification requirements.


About JAG Media Holdings, Inc.

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.



About XeQute Solutions, Inc.

XeQute Solutions is a provider of supply chain management technology. XeQute
offers a comprehensive range of software systems and tools, from point solutions
to integrated end-to-end hardware and software solutions, for enterprise wide
and collaborative supply chain optimization.

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," "would," "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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