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Non-Tech : NetBank(NTBK)-formerly Atlanta Internet Bank
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To: Jeff D who wrote (32)2/28/1998 4:35:00 PM
From: Mike Milde   of 2414
 
I recently decided to open an account with them.

They have something really solid to attract many, many more customers. Where else can I get such a good interest rate and free bill paying? Even at the rates they are paying it appears that they will be profitable very soon. And without having to build new buldings and hire new tellers! :-)

IMHO the market will allow a very high PE ratio on this stock once they become profitable. Their customer retention should remain solid (the service they offer is awefully hard to compete with right now), and because they appear to be adding new customers very quickly.

I see this company to be similiar to E*Trade and Amazon.com. They're taking full advantage of Internet technology to significantly cut costs and offer consumers a deal that they won't find elsewhere.

Mike
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