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Strategies & Market Trends : LastShadow's Position Trading -- Ignore unavailable to you. Want to Upgrade?

To: BarbaraT who wrote (16064)	6/22/1999 4:08:00 PM
From: kendall harmon	Read Replies (1) \| Respond to of 43080

BTOB going on major news with IBM today: HOUSTON--(BUSINESS WIRE)--June 22, 1999--First Sierra Financial, Inc. (Nasdaq:BTOB - news) today announced the signing of an agreement with IBM Corporation (NYSE: IBM - news) to finance the IBM Hosting Services Offering for small to medium business customers. First Sierra will offer financing through its proprietary LeasingOnline program, enabling credit approval in minutes and tracking and reporting on line. IBM Global Services will refer prospective customers from a variety of sources to First Sierra, which will fully underwrite, fund and service the leases. The offering will be managed by First Sierra's Technology Group, which provides businesses with fully integrated e-commerce technology solutions and online financing products for their commercial customers. The Technology Group offers a complete one-stop solution that integrates vendors' front-end sales technology, Websites, sales force, and customers with First Sierra's back-end processing technology. The IBM Hosted Services Solution is comprised of combinations of IBM hardware, Great Plains Financial Business Applications, SalesLogix Sales Force Automation Applications, and/or Ultimate Software Human Resources Applications, and IBM Networking Services and Single-Point-of-Contact Support. IBM Hosting Services are delivered and maintained remotely, reducing the cost and complexity of implementing a stand-alone system at each client site. The business applications/solutions will be installed at the lessee's corporate site or IBM's remote management facility and managed by IBM Global Services. ''This offering takes full advantage of First Sierra's leading e-commerce technology and automated back end processing technology,'' said Thomas Depping President and CEO of First Sierra. ''We are excited to have been chosen by IBM to deliver a complete, one-stop web-enabled financing solution for the new Hosting Offering.'' The IBM Global Network provides total outsourcing through secure, fast and powerful information exchange capabilities. This world-class multiprotocol network provides unmatched connectivity and reliability to over 1,300 points of presence from more than 53 countries. Corporate site solution installations will be remotely managed by IBM Global Services through dial connections to the customer site and automated remote management technologies. For those applications that are installed off-site, connections to the remotely managed server are initiated with a Citrix® WinFrame® session at the client site. Remote client connections are made to a local Internet Service Provider that can be linked to the remote management facility permitting a low-cost WAN solution at LAN-like speeds. Firewall protection at the remote management facility and data encryption ensures that transmission of information over the Internet is secure.