August 20, 1999 09:00
Individual Investor Group Announces $1 Million Gain
on Sale of Kirlin Holding Corp. Stock
INDI Receives Cash Proceeds of $1.7 Million
NEW YORK, Aug. 20 /PRNewswire/ -- Individual Investor Group, Inc. (Nasdaq:
INDI) today announced that it had sold its investment in Kirlin Holding Corp.
(Nasdaq: KILN) for net cash proceeds of $1.7 million, representing a gain of almost
$1 million. The Kirlin shares appreciated by more than 125% during the 2-1/2
month period since Individual Investor Group made its $750,000 investment.
"We are pleased with the rapid appreciation of Kirlin's share price since we
announced our investment in Kirlin and our more significant investment in Kirlin's
online venture capital subsidiary, VentureHighway.com, in June," said Jonathan
Steinberg, Chief Executive Officer of Individual Investor Group. "We look forward to
continuing our close relationship with Kirlin in building value at
VentureHighway.com, in which we continue to hold a 20% stake."
About Individual Investor Group
Individual Investor Group, Inc. is a financial media company that publishes and
markets Individual Investor magazine (circulation 500,000), IndividualInvestor.com,
Individual Investor's Special Situation Report, InsiderTrader.com and Ticker
magazine (circulation 100,000).
SOURCE Individual Investor Group, Inc.
/CONTACT: Hank Clark, VP Finance, of Individual Investor Group,
212-742-2277, hclark@individualinvestor.com; or Public Relations - Lori Rosen
of The Rosen Group, 212-255-8455, lori@rosengrouppr.com, for Individual
Investor Group/
(INDI KILN) |
