in EVIS
Tuesday August 10, 11:30 am Eastern Time
Company Press Release
eVision Signs Letter of Intent with Quaker Funds, Inc.
DENVER--(BUSINESS WIRE)--Aug. 10, 1999--eVision USA.Com, Inc. (eVision or the
Company) (OTC BB: EVIS - news) signed a letter of intent to acquire control of Quaker Funds, Inc. (see
www.quakerfunds.com).
Quaker Funds, Inc. is the developer and sponsor of the Quaker Family of Funds, a group of six mutual funds having
approximately $70 million assets under management with an independent institutional investment advisor managing each fund.
The Quaker Aggressive Growth Fund was rated fourth among the top fifteen performing mutual funds evaluated by the Wall
Street Journal on August 2, 1999. The Quaker Aggressive Growth Fund, according to the Wall Street Journal, reflected a
60.25% return for the 52-week period ending July 29, 1999.
''This acquisition will add a new dimension to the Company's broker/dealer related business which has traditionally focused on
retail sales and corporate finance,'' said Mr. Fai H. Chan, President and Chief Executive Officer of eVision. ''This should
enhance our asset-gathering abilities.''
The Quaker Family of Funds was developed to bring the unique skills of prominent investment management firms to the mutual
fund community. Quaker Funds include the Core Equity Fund managed by Geewax, Terker & Company, the Aggressive
Growth Fund managed by DG Capital Management, the Small Cap Value Fund managed by Aronson + Partners, the Fixed
Income Fund managed by Fiduciary Asset Management and the Quaker Mid-Cap and Large-Cap Value Funds managed by
Compu-Val Investments.
Quaker Funds, Inc. is based in Valley Forge, Pennsylvania, and is owned by Jeffry King, Principal of Quaker Securities, Inc.,
Peter Waitneight, Quaker Funds, Inc. President, and David Dameron, Vice President, Marketing. Quaker Funds, Inc. was
founded in 1996 and the Quaker Funds commenced operations in November of that year. The Quaker Funds have received
favorable comment in the financial press for investment style and performance. The Quaker Small-Cap Value Fund, managed
by Ted Aronson of Aronson + Partners, Philadelphia, was the first winner with a feature article in the July 1998 edition of
Mutual Funds Magazine. More recently, the Quaker Core Equity Fund, managed by John Geewax of Geewax, Terker &
Company, Pennsylvania, and the Quaker Aggressive Growth Fund, managed by Manu Daftary of DG Capital Management,
Boston, have attracted press attention.
The terms of the acquisition include payment of 4,666,667 shares of common stock of eVision. After the acquisition, eVision
would own approximately 60% of Quaker Funds, Inc. The Quaker Funds, Inc. shareholders will be able to sell their eVision
stock back to eVision if the eVision stock does not trade at an average price of $3.00 per share for a period of time between
one and two years after the closing. There are also provisions whereby the Quaker Funds, Inc. shareholders may sell the
remaining 40% ownership to eVision or buy back the 60% sold to eVision.
The Quarter Funds are now distributed through Schwab OneSource, Waterhouse Advisor NoFee Network, Vanguard
Brokerage Services, Fidelity FundsNetwork, E*Trade and other mutual fund ''supermarkets.'' The Quaker Funds will now be
made available through American Fronteer Financial Corporation, a subsidiary of eVision.
''I am very excited about this deal,'' said Jeff King. ''I really like the folks at eVision. They have a very good client base and
they will be able to use the Quaker Funds to great advantage for individual portfolios. Working together, I believe that we can
significantly increase assets.''
eVision is a Denver-based holding company with consolidated entities that include American Fronteer Financial Corporation, a
regional securities broker/dealer, and eBanker USA.com, Inc. (eBanker) which offers, among other things, Internet-based
high-yield lending opportunities. Consolidated developing companies include eBroker USA.Com, Inc. (eBroker), a proposed
on-line securities brokerage business. eVision has made a significant investment in Q6 Technologies, Inc. (Q6 Technologies), a
business venture surrounding technology-based virtual processing arenas with John Cusick, former founder, chairman and CEO
of Primestar, as its chief executive officer.
The statements included in this press release concerning predictions of economic performance and management's plans and
objectives constitute forward-looking statements made pursuant to the safe harbor provisions of Section 21E of the Securities
Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. These statements involve
risks and uncertainties that could cause actual results to differ materially from the forward-looking statements.
Note to Editors: This press release contains an asterisk between ''E'' and ''Trade'' in the seventh paragraph. This symbol may
not appear properly in some systems.
Contact:
eVision USA.Com, Inc., Denver
Gary L. Cook, 303/860-1700
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