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Non-Tech : Teletubbies

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To: EPS who wrote (27)	5/30/1998 4:28:00 PM
From: EPS	of 33

Genesis Initiates Coverage of Handleman with Buy Rating May 5, 1998 01:29 PM SAN FRANCISCO, May 5 /PRNewswire/ -- Genesis Merchant Group Securities today initiated coverage of Handleman Company HDL with a Buy rating. Handleman is a leading rack jobber (the management of inventories for retail clients) of music to mass merchants such as Kmart and Wal-Mart. Genesis analyst Barry Sosnick noted, "We anticipate earnings per share of $0.32 in fiscal 1998, $0.68 in fiscal 1999, and $0.88 in fiscal 2000. We believe that there is the potential for 50% appreciation in the stock price over the next year." Handleman's customers comprise the largest segment of the mass merchandising market which has experienced market share growth in US music business. The North Coast Entertainment division owns the licenses to the original Halloween and Godzilla movies as well as some of the sequels. The company should benefit this year when new Halloween and Godzilla movies are released. Handleman is a leading distributor of music in Mexico and Canada and has footholds in Argentina and Brazil. Its North Coast Entertainment division develops relatively high margin proprietary products and markets licensed merchandise. Sales are estimated at $1.1 billion for the fiscal year ending March 1999. SOURCE Genesis Merchant Group Securities Top

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