LAHA - Lahaina Acquisitions Announces Paradigm Acquisition Update
Business Editors
ALPHARETTA, Ga.--(BUSINESS WIRE)--Feb. 9, 2000--Lahaina
Acquisitions, Inc. (OTC BB: LAHA) ("Lahaina")
The Accent Group, Inc. today announced its proposed merger with
Paradigm Mortgage Associates, Inc. of Jacksonville, Florida is
proceeding on schedule, with an expected closing within the second
quarter ending March 2000.
Accent's CEO, L. Scott Demerau, said today "Our due diligence is
well underway. Paradigm, in the month of December, originated in
excess of $20 million of mortgage loan volume. When combined with our
own internal rapid growth, we believe this will lead to significant
economies of scale and enhanced profitability." Demerau also stated,
"The company continues to make progress in its strategy of growth
primarily through acquisitions, which clearly demonstrates that Accent
will become a leader in consolidating this exciting growth
industry."
Accent is also deeply committed to innovative E-Commerce
Solutions to substantially reduce the turn-around time in the mortgage
approval process. Demerau stated, "We expect to announce new
technology applications in the near future that will clearly
demonstrate our E-Commerce strategy and its exciting innovations."
This press release may contain forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995.
These statements are based on current plans and expectations of
Lahaina, its affiliates or subsidiaries, and involve risks and
uncertainties that could cause actual future activities and results of
operations to be materially different from those suggested or
described in the forward-looking statements contained in this press
release. Important factors that could cause actual results to differ
include, among others, risks associated with announced or future
acquisitions (such as the uncertainties of the successful conclusion
of ongoing discussions, the quality of projects acquired, financing
costs and profitability of operations), fluctuations in operating
results, variations in stock prices, change in public interest in
resorts, political and economic climate, competition, weather
conditions, risks of operations, regulatory agencies, policies,
financing difficulties and difficulties in integrating newly acquired
businesses. Additional information concerning factors that could cause
actual results to differ from those in the forward-looking statements
is contained from time to time in the Company's SEC filings. Copies of
these filings may be obtained by contacting the Company or the SEC.
SOURCE: Lahaina Acquisitions, Inc.
--30--DP/at*
CONTACT: Lahaina Acquisitions, Inc.
Investors
L. Scott Demerau
Chairman & Chief Executive Officer
or
Betty M. Sullivan
Executive Vice President & Chief Operating Officer
770/754-6140 |
