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

To: Susan Saline who wrote (17450)	7/17/1999 9:43:00 AM
From: Rock_nj	Respond to of 43080

PCNA is opening a legal website portal during the first week of August. The float is only 1.5 million. The Publishing Company of North America, Inc. Announces Pre-Launch Sales of its Online Expert and Legal Service Provider Directory LAKE HELEN, Fla.--(BUSINESS WIRE)--June 22, 1999--The Publishing Company of North America, Inc. (Nasdaq: PCNA - news), and its wholly owned subsidiaries PCNA Communications Corporation and Attorneys Online, Inc., today announced results of initial sales of advertising in its online vendor directory that will be featured on its legal portal which is scheduled to debut in approximately six weeks in Atlanta, Georgia at the American Bar Association's annual meeting. Peter S. Balise, Chairman and President of The Publishing Company of North America, Inc., said ''We're very encouraged with the initial results of the first of three phases in the sale of advertising in our online expert and legal service provider directory. Our online directory is currently scheduled to debut the first week of September in order give us time to begin populating it following the release of our legal portal. The first phase of our strategy is to sell Internet advertising as an 'add-on' to our print advertising prior even to launching the online directory, or for that matter, any of our sites. Since these advertisers are buying a product that they can't see, they are relying on our reputation and our past business relationship. Preliminary results indicate that the majority of our existing clients wish to see the site prior to purchasing an ad. In spite of this issue, we have received approximately $50,000 in orders for online advertising in just the past few weeks and more than 40% of these orders have been prepaid. It's significant that these initial sales nearly cover all the direct costs of our Internet investment to date, including our legal portal, America's Legal Super Store and our online vendor directory. As we go 'live,' we're confident more and more businesses will want to participate in our online directory. Based upon these favorable initial results, we have already begun implementation of the second phase of our online sales strategy, which is the formation of a fixed, full-time sales force focusing exclusively on the sale of Internet advertising. A third phase of the sales strategy is planned for later this year.'' The Publishing Company of North America, Inc., and its wholly owned subsidiaries, PCNA Communications Corporation and Attorneys Online, Inc. are integrated full service providers of specialty publishing for bar associations nationwide. While having focused principally on print directories and related products and services, PCNA and its subsidiary companies are aggressively pursuing its online strategy of providing goods and services to the legal profession. Contact: The Publishing Co. of North America Inc., Lake Helen Peter S. Balise, President and CEO Telephone: 904/228-1000 Facsimile: 904/228-0271 position-trader.com