Helios and Matheson Information Technology Inc. Declares a Dividend to Shareholders as a Result of Sustained Profitable Performance

NEW YORK, Feb. 4, 2013 (GLOBE NEWSWIRE) -- Keeping in view the sustained profitable performance of the Company over the last seven quarters the Board of Directors of Helios and Matheson Information Technology Inc. (Nasdaq:HMNY) (the "Company") declared a dividend of $0.09 per share of the Company's common stock amounting to a payout of $209,739. This amount represents approximately 50% of the expected net profits (based on preliminary unaudited results) of the Company for the year 2012. The dividend is payable on March 5, 2013, to shareholders of record on February 18, 2013. The Company expects to end 2012 with cash and cash equivalents of approximately $2.9 million.

Helios and Matheson Information Technology Inc (Nasdaq:HMNY) (the "Company"), is a 30 year old IT services organization focused on banking, financial services, healthcare, automotive and insurance sectors.

Forward Looking Statements

This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, as well as statements that include words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," and other similar expressions are forward-looking statements. All forward-looking statements involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. Factors that may cause actual results to differ materially from those in the forward-looking statements include those set forth in the Helios and Matheson Information Technology Inc. Annual Report on Form 10-K for the year ended December 31, 2011 and more recent reports and registration statements filed with the SEC. Helios and Matheson Information Technology Inc. is under no obligation (and expressly disclaims any such obligation) to update or alter such forward-looking statements, whether as a result of new information, future events or otherwise.

CONTACT: Umesh Ahuja
         703 691 0400 Ext 1046
         uahuja@hmny.com