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Technology Stocks : NewCom (NWCM)
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To: David Peterson who wrote (572)8/11/1998 12:56:00 AM
From: Jason Flora   of 662
 
The following was posted on the Yahoo board tonight:

Letter to Shareholders

As many Newcom shareholders are now aware Titan Capital Partners, on August 6th 1998, sent a letter to Joseph Charles and Associates questioning whether there current proprietary position in Newcom was consistent with the "strong buy" recommendation they have had on Newcom Inc. This letter was intended for Joseph Charles and Associates complience department only and not for public dissemination. It did ultimately find its way onto the internet via the Silicon Investor
forum.

Since this time it also appears that several additional letters, allegedly signed by fund manager Stephen Fischer, have been posted on the internet laying direct blame on certain directors of Newcom Inc for the current share price. These letters are absolutely counterfeit. To date Titan Capital Partners has sent only one letter, which was adressed to Joseph Charles and Associates and dated August 6th, 1998.

This does not mean that Titan Capital Partners does not have issues with the management of Newcom, it does mean that we are not going to use the internet as our forum to debate these issues. We will deal directly with the Board of Directors and if that fails, and we deem it appropirate, will engage the class of shareholders through proxy or legal proceedings.

To date, Titan Capital Partners does still hold Newcom Inc as a long position. If any other "letters" appear on the internet we encourage you to call our office to verify their authenticity before considering them our opinion.

Titan Capital Partners is a Hedge Fund and can be reached at 213-650-5173 or fax 213-650-5180

Stephen J. Fischer
Fund Manager
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