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Technology Stocks : BACKDOOR, an IPO> IDTC,BRKT,BNYN,KLOC,NAVR

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To: DAVID C. DeANGELIS who wrote ()	5/3/1999 10:59:00 PM
From: Glenn Petersen	of 954

The May 17, 1999 issue of Forbes reports that Reliance Group Holdings (REL) is thinking about taking its information technology unit public. The unit, which generated $248.0 MM in revenues and $19.4 MM in income last year, has an estimated value of half a billion dollars. The market cap for REL, which closed at 8 1/2 on Monday, is approximately $986.0 MM. Additionally, REL's CyberComp unit, which was the first insurer to sell workers' compensation coverage over the Internet, will write over $200.0 MM of gross premiums this year.

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