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Microcap & Penny Stocks : DAWC (Welcome CDMD Investors)

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To: MICHAEL L. MORRISON who wrote (11)	11/29/1996 12:36:00 PM
From: Gregg Hudson	of 177

uesday October 29 10:16 AM EDT Dawcin International subsidiary First Equities opens another new branch office GARDEN CITY, N.Y.--(BUSINESS WIRE)--Oct. 29, 1996-- DAWCIN INTL subsidiary, First Equities Corp., a mortgage banking company announces the opening of another new branch office located at 173 Lake Road, Congers, New York. This office will service the affluent counties of Westchester and Rockland. MaryRose Cokely, branch manager, estimates mortgage closings of $5 to $5.5 million per month. First Equities currently has 18 branches generating approximately $127 million in closings per annum. Edward R. Capuano, president and COO of Dawcin International Corp. stated that, "The opening of this new office will give First Equities Corp. entry into the lucrative Jumbo and Super Jumbo mortgage market." Dawcin International Corp. is an international financial services company that operates five divisions. CONTACT: Dawcin International Corp. Investor Relations 1-800-338-9199 or Public Relations Mel Levine & Associates 415/284-0333

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