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Strategies & Market Trends : DAYTRADING FOR DOLLARS

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To: Logistics who wrote (575)	3/24/1999 11:44:00 PM
From: GERBER	of 639

WATCH EWEB! Check out the news! Wednesday March 24, 10:28 pm Eastern Time Company Press Release SOURCE: Euroweb International Corp. and America Online Inc. America Online Expands It's Operations Into Central Europe With An Investment In Euroweb Intl. NEW YORK, March 24 (Reuters) -- Euroweb International Corp. (Nasdaq: EWEB) announced that it has entered into an agreement with America Online Inc. (NYSE: AOL) under which AOL will purchase 1,850,000 shares of Euroweb International Corp. common stock for approximately $6 million. This will leave AOL with a 27.5% position in the rapidly growing Hungarian based internet service provider. “Central Europe is an area which has been overlooked by many internet service providers, despite the rapid growth of internet usage in this region,” said a spokesman for Dulles, Va.-based AOL. “As the internet continues to grow, we will pursue global expansion of our services. Our investment and partnership with Euroweb will allow us to establish our presence in this essential market.” Euroweb's president, Mr. Robert Genova, stated that the investment made by America Online will be used to to acquire controlling interests in additional profitable Internet Service Providers in Central Europe. Euroweb intends to form alliances with other major U.S. technology companies in the future. SOURCE: Euroweb International Corp. and America Online Inc.

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