Strong Q1 Sales and Profit Results Reported by Megadata Corporation

GREENWICH, Conn., March 17 /PRNewswire-FirstCall/ -- Megadata Corporation (OTC Bulletin Board: MDTA) announced a net profit of $152,000 or $.03 per diluted share in the first quarter ended January 31, 2008, compared to a net profit of $54,000 or $.01 per diluted share in the same quarter of fiscal 2007. Total revenues for first quarter 2008 were up approximately 31% to $1,706,000, compared to $1,302,000 in the same quarter of the previous fiscal year. Subscription sales for the first quarter were up approximately 36% to $1,590,000, compared to $1,167,000 in the same quarter of fiscal 2007.

"These results plus our continuing infrastructure investments are critical components to a solid 2008," said Jim Barry, Megadata's President and CEO. "Our mission is to be the most trusted source for aviation collaborative solutions, landing fee management, and commercial air traffic solutions and we continue to work to develop new products and enhancements to existing products to better serve our existing and potential new customers."

"Once again we've had another good quarter and I'm particularly pleased with the company's continued focus on building infrastructure which we expect will continue to drive profitable growth," said G.S. Beckwith Gilbert, Megadata's Chairman of the Board.

About Megadata

Megadata owns and operates a unique database of flight information with proprietary decision-making software, primarily powered by a growing international network of passive radars (PASSURs) located at more than 85 airports world-wide, including 33 of the top 35 U.S. airports - from which it provides PASSUR information, analytics, and decision support tools to improve the financial condition and operational efficiency of aviation organizations. Megadata offers unique user-friendly information as well as decision algorithms which provide innovative commercial air traffic solutions to more than 50 airports, including 8 of the top 10 U.S. airports; to dozens of airlines, including 7 of the top 10 U.S. airlines; and to more than 180 corporate aviation customers, as well as to the U.S. Government. In addition, the company has created and implemented collaborative web-based software that allows the company's customers to instantly share information to improve individual and joint decision-making, creating additional value for those customers.

Visit Megadata's web site at http://www.passur.com for updated products, solutions and PASSUR news.

The forward-looking statements in this shareholder letter relating to management's expectations and beliefs are based on preliminary information and management assumptions. Such forward-looking statements are subject to a wide range of risks and uncertainties that could cause results to differ in material respects, including those related to customer needs, budgetary constraints, competitive pressures, the success of airline trials, the profitable use of the Company's owned PASSURs located at major airports, the Company's maintenance of above average quality of its product and services, as well as potential regulatory changes. Further information regarding factors that could affect the Company's results is contained in the Company's SEC filings, including the October 31, 2007 Form 10-K and January 31, 2008 10-Q.

    Contact:
    James T. Barry
    President & CEO
    (203) 622-4086
    jimbarry@passur.com