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Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium -- Ignore unavailable to you. Want to Upgrade?

To: Ga Bard who wrote (8563)	6/17/1999 10:45:00 AM
From: Koda Ridge	Respond to of 108040

JNNE---Auction site news. Eric (COMTEX) B: Jones Naughton Entertainment Begins Virtual Mall Expansio B: Jones Naughton Entertainment Begins Virtual Mall Expansion: Announces Development of Auction Web Site LOS ANGELES, Jun 17, 1999 (BUSINESS WIRE via COMTEX) -- Company Acquires Auctionomics.com - Newest Venture for Jones Naughton's Rapidly Expanding Internet Enterprise Joseph Naughton, Chairman of Jones Naughton Entertainment, Inc. (OTC BB: JNNE), and Harvey Turell, President of Auctionomics.com, today jointly announced the acquisition of Tarzana, Calif.-based Auctionomics.com by Jones Naughton. Auctionomics.com is a leading auction marketing firm specializing in matching suppliers and buyers via e-commerce marketing and referral links over the World WideWeb. Using Jones Naughton's wholly owned subsidiary GoOn-line.com's advanced streaming audio and video technology, Auctionomics.com will allow direct on-line bidding, putting auctions, auctioneers and buyers in direct communication throughout the world through its new web site. Auctionomics.com's on-line bidding directory will give buyers the power to research and locate specific assets being auctioned throughout the U.S., many of which are not currently being offered for sale on the Internet. Some of the unique product categories will include coins and rare books, estate jewelry, industrial machinery and equipment, rare and fine artwork and financial instruments, to name a few. The acquisition of Auctionomics.com will also link Jones Naughton's GoOn-line.com subsidiary to other successful affiliate auctioning and marketing programs worldwide, generating additional revenues through indirect referral links. Additionally, Auctionomics.com will refer traffic at GoOn-line.com to affiliated e-commerce sites linked directly from GoOn-line.com, and will track customer traffic between sites. Auctionomics.com's President Turell is convinced GoOn-line.com is a profitable home for their services. "Auction purchasers accounted for 11% of all on-line purchases in 1998. Auctionomics.com and GoOn-line.com are perfectly positioned to welcome the 6.5 million annual bidders expected to raise their paddles on-line by the year 2002." The terms of the agreement call for Auctionomics.com to deliver a customized, fully developed web site with merchandising and marketing programs designed to the specifications of the management of Jones Naughton. Mr. Naughton commented saying, "We expect our Auction site to be launched and fully functional by the second week in September. The implementation of this site is the second step in the development of our virtual mall." ABOUT THE COMPANY Jones Naughton Entertainment, Inc. is an information technology concern focused on combining traditional marketing methods with the latest advancements in Internet technology. Through its GoOnLine Kiosk Division, Jones Naughton provides interactive Internet, advertising and media buying services to a growing number of clients across the country. Jones Naughton has also begun installing Internet kiosks in various hotels and is aggressively pursuing kiosk agreements with a number of national hotel chains. Jones Naughton recently acquired GoOn-line.com, a Chico, Calif.-based Internet company specializing in the production of streaming video infomercials over the Internet. GoOn-line.com offers Internet products and services to consumers via e-commerce solutions available on the World Wide Web. GoOn-line.com is in the late stages of developing a virtual shopping mall web site that will feature products that have traditionally only been available frominfomercial companies advertising on broadcast television. This press release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Act of 1995. Expression of future goals and similar expressions reflecting something other than historical fact involve risks and uncertainties. The actual results the company achieves may differ materially from any forward-looking statements due to such risks and uncertainties. Copyright (C) 1999 Business Wire. All rights reserved. -0- CONTACT: Jones Naughton Entertainment, Inc. Joseph Naughton, 714-736-0988 Web site: www.jnne.com or Auctionomics.com Harvey Turell or Nathan Wolfstein, 818-881-6096 or GoOn-line.com Scott Claverie, 530-891-4100 Web site: www.GoOn-line.com or PMR and Assoc. Patrick M. Rost, 760-942-0015 PMRandCO@AOL.com WEB PAGE: businesswire.com GEOGRAPHY: CALIFORNIA INDUSTRY CODE: INTERACTIVE/MULTIMEDIA/INTERNET COMED RETAIL TELECOMMUNICATIONS ENTERTAINMENT BANKING COMPUTERS/ELECTRONICS Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. * end of story *