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Non-Tech : BTOB, the Internet-enabled Business to Business Bank

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To: Dan'l Leviton who wrote (9)6/22/1999 2:39:00 PM
From: William F. Wager, Jr.   of 11
 
Dow Jones Newswires -- June 22, 1999 DJ E*Offering Starts First Sierra Fincl At Buy

NEW YORK (Dow Jones)--E*Offering, the online investment-banking firm, initiated
coverage of First Sierra Financial Inc. (BTOB) with a buy rating.

E*Offering, which is partly owned by online brokerage firm E*Trade Group Inc. (EGRP),
underwrote First Sierra's recent secondary stock offering, which was E*Offering's first
lead-managed deal.

First Sierra, of Houston, provides electronic-commerce technology and financing
services to small businesses. Among its businesses is an online leasing operation.

In a research note, E*Offering analyst Gary Craft said he estimates First Sierra will earn
5 cents a share in 1999 and 50 cents a share in 2000.

Craft said First Sierra's shares could reach 120 over the next six to 12 months.
Recently,
First Sierra was up 3 5/8, or 15.2%, at 27 1/2.
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