. . . .PlayCo News Rally Begins. . . .
I would expect news from PLCO / PLCOP / PLCOW tomorrow.
Monday November 22, 9:09 am Eastern Time
Company Press Release
ShopNet.com's Affiliate Completes $27 Million IPO Toys International.Com IPO is Priced at 13 Euros per Share on the Frankfurt Exchange
NEW YORK--(BUSINESS WIRE)--Nov. 22, 1999--
NASDAQ SYMBOLS: Common Stock SPNT Stock Warrants SPNTW
FRANKFURT STOCK EXCHANGE: ZSN
ShopNet.Com, Inc. (Nasdaq: SPNT - news, SPNTW - news) announced the successful completion of an Initial Public Offering for it's affiliate Toys International.Com, Inc. (''Toys International'') The offering was completed on November 19th on the Frankfurt Exchange
and reflects a subscription price of $13.52 per share. Toys sold 2 million shares, or a 16.7% interest in the Company for gross proceeds of approximately $27 million. This represents a post IPO valuation of Toys International of $162 Million. The underwriter for the offering was CONCORD EFFEKTEN, AG.
''Toys International's Initial Public Offering in Germany was extremely successful'', commented Harold Rashbaum, CEO of ShopNet.Com, Inc. ''We have seen a similar enthusiasm for Toys International's first German language website in Europe,
www.webjumbo.de. The site is growing steadily since its October 18th launch. The monies raised through this IPO will assist Toys International's plan for future expansion in Europe as well as continuing it's expansion in the United States. This expansion
would include additional stores (brick and mortar) and a new hi-tech website mirroring the site in Germany.''
Webjumbo.de has been designed to serve the German language market through. DEUTSCHE TELECOM (''DT''), Yahoo (''YHOO''), Alta Vista(''CGBI'') and other Internet providers in Germany. DEUTSCHE POSTE (recently agreed to merge with Air Express Int'l Nasdaq:''AEIC'', the largest US based forwarder) is handling distribution through their fulfillment center in Holland and their call exchange in Ireland, positioning Toys International for full scale distribution throughout continental Europe in the next six
months.
Toys International is a toy retailer with 25 stores located in Arizona, California, Illinois, Michigan, Nevada, North Carolina and Texas. Toys International specializes in offering educational, specialty, collectible, and traditional toys. ShopNet.Com, Inc. is a NASDAQ listed company which through its subsidiaries and affiliate companies operates toy stores, produces motion pictures, manufactures, distributes and wholesales children's swimwear and sportswear and operates a number of e-commerce (B2C and B2B) websites. Statements contained in this press release which are not historical facts may be considered forward looking information with respect to plans, projections, or future performance of ShopNet.Com, Inc. and Toys International.COM, Inc. as defined under the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from those projected.
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