man i like the ipo part of this :-+
gdog
PITTSBURGH, Apr 3, 2000 (BUSINESS WIRE) -- Mortgage Bankers Holding Corp.
(OTCBB:MBHC), doing business as National Institute Companies of America
("NICA"), announced that the company is in the process of finalizing two
strategic alliances, one of which may yield an acquisition by MBHC/NICA before
year end.
In addition, management of MBHC/NICA has begun to set in motion a series of
acquisitions (commencing with the recent acquisition of Continuing Education
Associates Inc.) that have been in negotiations for approximately 7 months.
Within the time frame of the 2nd quarter and by the end of the 3rd quarter,
management is confident that three acquisitions will be finalized providing risk
diversification, significantly enhanced earnings and shareholder value. In
addition, one of these acquisitions should provide an adjunct target merger that
management has negotiated for over a year.
Furthermore, because of management's long and personal relationships, MBHC/NICA
has been given the privilege of joining three other strategic investors in a $60
million private placement offering in a New York City company that is projected
to have their Initial Public Offer in the latter part of this year by one of
Wall Street's major investment banking firms.
Management is projecting that overall revenues should exceed $75 million and
EBIT should be approximately $8,250,000.
As previously released, on Wednesday, April 12, 2000, Mortgage Bankers Holding
Corp. (symbol:MBHC) will become National Institute Companies of America Inc.
(symbol:NICM).
The company remains well ahead of schedule for the Form 10 filing, pending the
release of the final independent audit. Management is confident that as these
formal filings are released, shareholders will be pleased with the company's
performance and outlook.
NICA was founded on the strategy of maximizing revenues for community banks, on
an equal if not superior, performance basis to the largest banks in the nation.
The company is structured to assist banks, bank holding companies and other
financial institutions (brokers/dealers, S&Ls, accounting firms, etc.) in the
planning, design and implementation of an insurance marketing program and
financial planning profit center within the bank or entity. NICA is one of the
largest providers of estate and financial planning products and services to the
community-independent banks in the United States.
The company welcomes comments and suggestions at corporate@nicoa.com.
Certain statements contained herein constitute forward-looking statements within
the meaning of section 27A of the Securities Act of 1933 and 21E of the Exchange
Act of 1934. Such statements include, without limitation, statements regarding
business and financing, business trends, and future operating revenues and
expenses. Although the company believes that the statements are reasonable, it
can give no assurance that such expectations will prove to be correct. Investors
are cautioned that any forward-looking statements made by the company, or
contained in this profile/research report, contain no guarantee of future
performance, and that the actual result may differ materially from those set
forth in the forward-looking statements. Difference in results can be caused by
various factors including, but not limited to, the company's ability to be able
to successfully complete planned funding agreements, to successfully market its
products in competitive industries or to effectively implement its business plan
or strategies.
SOURCE: Mortgage Bankers Holding Corp., doing business as, National Institute
Companies of America.
Distributed via COMTEX.
Copyright (C) 2000 Business Wire. All rights reserved.
-0-
CONTACT: For Mortgage Bankers Holding Corp., Pittsburgh
Market-Pulse Journal, Rochester, N.Y.
Tizo Maduro, Investor Relations
800/290-8935 or 716/256-6505 ext. 219
info@market-pulse.com
|
