CIAI - Composite Industries of America, Inc. Message Board

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Non-Tech : CIAI - Composite Industries of America, Inc.

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To: jmhollen who started this subject	2/12/2002 12:46:54 PM
From: jmhollen	of 12

Composite Industries of America, Inc. Announces The Acquisition of Tribal Electric Association-2000 PR NEWSWIRE LAS VEGAS, Oct. 10 — Composite Industries of America, Inc. (formerly World Homes, Inc.) (OTCBulletinBoard:CIAI) announces the Company has finalized the contract for the acquisition of Tribal Electric Association- 2000. Tribal Electric is engaged in developing, constructing and operating electric power plants in the United States and throughout the World, specializing in plants with an output capacity from 50 Mega Watts of power to 250 Mega Watts of power. Tribal Electric has made contact with over 20 Indian Nations throughout California, who have expressed an interest to have a plant located on their Reservation. These plants will be in rural areas and will provide strategic support for the overloaded California grid system. Maintaining Our Stock Opinion of a Much Higher Valuation For Composite Industries of America (OTC BB: CIAI) Long Term, CIAI's steps to focus its business, particularly in its Energy segment and other infrastructure areas, are moving in the right direction and we do see potential in the Housing and Construction businesses that could significantly increase valuations in the next 24-months. We are maintaining our opinion that CIAI is undervalued at its current price of less than $1, and our price target of $10 ¡V to- $15 would still put CIAI shares trading at a significant discount to its peer group (see table below), which carries an average forward P/E of 15x and an average forward revenue multiple of 1.5X ¡Vto- 2.0X, based on consensus FY03 & FY04 estimates. We view CIAI shares at anything less than $5 as an attractive risk-reward opportunity for investors. CIAI Energy Services / Electrical Power Generation Provider Competitors Co. Name Exch : Sym $ Co. Name Exch : Sym $ Calpine Corp. NYSE : CPN $8.52 Mirant NYSE : MIR $9.90 Dynegy NYSE : DYN $22.23 NRG Energy NYSE : NRG $9.56 Duke Energy NYSE : DKE $24.05 Amer Elec Pwr NYSE : AEP $40.68 Entergy NYSE : ETR $41.71 Avista Corp. NYSE : AVA $14.06 Orion Power NYSE : ORN $25.66 Reliant Resources NYSE : RRI $10.58 .

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