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Non-Tech : Starnet (SNMM)Online gaming, sexsites, lottery, Sportsbook
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To: LORD ERNIE who wrote (2593)3/26/1999 8:14:00 AM
From: mikekell   of 8858
 
Managesource Research Announces Investment Opinion on Starnet Communications International
Managesource Research Releases Quarterly Update on Starnet Communications International, Inc. Reiterates BUY Rating and Assigns $21 Price Target
SAN FRANCISCO--(BUSINESS WIRE)--March 26, 1999-- Managesource Research announced today that it has released its quarterly update on Starnet Communications International, Inc. (OTC BB:SNMM - news) and reiterated their BUY recommendation with a twelve month price target of $21.

Managesource cites strong third quarter financial reports, as well as the successful execution of their high growth business plan, as the basis for their recommendation. Starnet recently reported net revenues over $2.6 million, which represents a 228.2% increase since the same period one year ago. Long term debt during the past nine months has dropped by nearly 50%, while gross revenues jumped 167% as compared to the same data from one year earlier. The full report can be viewed at managesource.com.

''We feel confident in our recommendation of Starnet Communications and the twelve month price target of $21. The company has done a wonderful job of increasing their earnings without significantly increasing their costs during this exceptionally high growth period,'' said Douglas Rogers, analyst for Managesource.

Managesource Research is an independent equity research firm that specializes in coverage of micro-capitalized companies for a fee. They are located in San Francisco, CA.

Statements regarding financial matters in this press release other than historical facts are ''forward-looking statements'' within the meaning of section 27 A of the Securities Act of 1933, Section 21 E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such statements about the Company's future expectations, including future revenues and earnings, and all other forward-looking statements be subject to the safe harbors created thereby. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results.
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