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Microcap & Penny Stocks : Viking Capital Group, VGCP- Internet play on the move! -- Ignore unavailable to you. Want to Upgrade?

To: Trader01 who wrote (545)	7/1/1999 2:20:00 PM
From: CIMA	Respond to of 588

Thursday July 1, 9:28 am Eastern Time Company Press Release Viking Announces Plans for Acquired Insurance Companies to Purchase Viking Capital Group Stock DALLAS--(BUSINESS WIRE)--July 1, 1999--Viking Capital Group, Inc. (OTC BB:VGCP) announced today an extension to its strategic plan to purchase insurance companies. Companies bought by Viking will be permitted to take a position in the common stock of Viking Capital Group as part of their portfolio of insurance managed assets. Such stock would be purchased in the open market. This program - to be formalized after the purchase of Viking's first insurance company - will allow acquired companies to invest in Viking as the Company completes its insurance company acquisition program and launches services through its subsidiaries, such as the bankers service bureau. On June 18, Viking announced its plans to file with the Securities and Exchange Commission a repurchase plan for the repurchasing of some percent of the Company's common stock once the Company has purchased its first life insurance company. Viking Capital Financial Services - a subsidiary of Viking - will be responsible for this repurchase plan and its daily activities. ''Our planned repurchase program gives us a priceless opportunity to invest in our own future,'' said William Fossen, Viking Capital Group's chairman and CEO. ''We believe in our Company's future prospects, and this offers a vehicle to make that belief tangible.'' About Viking Capital Group, Inc. Viking Capital Group, Inc., head office in Dallas, is creating a group of streamlined companies to provide specialized administration services, using proprietary technology to reduce costs and improve quality of service to insurance companies, banks and other financial institutions. Simultaneously, the Company plans to purchase and manage its own portfolio of insurance Company assets. The Company's strategic goal is to acquire $1.5 billion in insurance managed assets through the purchase of existing life insurance companies. Viking is a fully reporting SEC Company and is traded on the OTC - BB market under the symbol VGCP. Contact Viking on the World Wide Web. vcgi.com. Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995. Certain statements made by the Company which are not historical facts may be considered forward-looking statements, including, without limitations, statements as to trends, management's beliefs, expectations and opinions, which are based on a number of assumptions concerning future conditions that may ultimately prove to be inaccurate. Such forward-looking statements are subject to risks and uncertainties and may be affected by various factors which may cause actual results to differ materially from those in the forward-looking statements. Among the factors that could cause actual results, performance or achievement to differ materially from those described or implied in the forward-looking statements are general economic conditions, competition, potential technology changes, changes in or the lack of anticipated changes in the regulatory environment in various countries, the ability to secure partnership or joint-venture relationships with other entities, the ability to raise additional capital to finance expansion, and the risks inherent in new product and service introductions and the entry into new geographic markets. For further information which could cause actual results to differ from the Company's expectations, as well as other factors which could affect the Company's financial statements, please refer to the Company's report filed with the Securities and Exchange Commission. -------------------------------------------------------------------------------- Contact: Ackermann Public Relations Robert Cathey, 423/584-0550 (Media Contact) rcathey@ackermannpr.com or Viking Capital Group, Inc. Matthew W. Fossen, 972/386-9996 (Investor Contact) mfossen@vcgi.com

To: Trader01 who wrote (545)	7/1/1999 5:22:00 PM
From: Sawdusty	Read Replies (1) \| Respond to of 588

""I do agree with this line of thinking. It seems like they are putting the cart before the horse. But, look at the press releases, they are doing things much more quickly now"" Well Trader, things may be quicker, but are they clearer? The news release that Cima thoughtfully posted today contains the following: July 1, 1999--Viking Capital Group, Inc. (OTC BB:VGCP) announced today an extension to its strategic plan to purchase insurance companies. Companies bought by Viking will be permitted to take a position in the common stock of Viking Capital Group as part of their portfolio of insurance managed assets. Such stock would be purchased in the open market. This program - to be formalized after the purchase of Viking's first insurance company - will allow acquired companies to invest in Viking as the Company completes its insurance company acquisition program and launches services through its subsidiaries, such as the bankers service bureau. In the 10 kSB, filed March 31, 1999 the plan was to complete: a private placement of debt and/or equity or a public offering I would appreciate it if you would correct me here if I have misunderstood, but it would appear that the plan is to issue shares or debt, up to a value of $250,000,000 in order to buy insurance companies. In turn, the insurance companies will be allowed to place part of their investments in shares of VGCP. The thinking would appear to be that an investment in VGCP would be far better than other investments that would be available. Given the obvious difficulty and risk, of raising such a large amount of capital, perhaps they should borrow less and skip a step.