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Strategies & Market Trends : LORD Ernie's picks. -- Ignore unavailable to you. Want to Upgrade?

To: LORD ERNIE who wrote (23)	9/13/1999 5:12:00 PM
From: LORD ERNIE	Respond to of 526

UPDATE ON BIG NEWS:(see below) ECNC is going to explode in the next weeks, after the big move they did. There are a lot of sportbet-sites on the internet, but very few art-auctions! With a little % on the auction-price the revenues for ECNC must go up!! It will bring new and big investors to this stock, IMHO ;-) Monday September 13, 6:45 am Eastern Time Company Press Release eConnect Enters $11 Billion Art Industry With the Acquisition of 'The Art Auction' Schedules October testing of Same-as-Cash payments by ATM card and PIN from home users LOS ANGELES--(BUSINESS WIRE)--Sept. 13, 1999--eConnect (OTC BB:ECNC - news) announced today that it has acquired the Internet Business, theartauction.com, in an exchange for eSportsBet. The Art Auction, widely recognized as the industry leader, was the first on-line art auction and is also the largest exclusive on-line Art Auction with a present data base of more than 14,000 registered customers with detailed demographics which is an asset presently valued at $6,000,000. eConnect is targeting over 50,000 new registered ArtAuction.com users within the next 90 days through aggressive usage of Internet markets. A recent Forbes magazine article and a report by Forrester Research predicts that the on-line Art market should surpass $19 Billion by 2003. Already an industry leader, The Art Auction intends to remain at the forefront of this highly lucrative sector and conservatively predicts it will capture at least 1% of that $19 Billion market within the next three years. eConnect Chairman and Chief Executive Officer, Thomas S. Hughes stated, ''With very little competition by boutique art sites and lack of specialization by non-art exclusive destinations like eBay (Nasdaq:EBAY - news) and Yahoo (Nasdaq:YHOO - news), we strongly believe that The Art Auction will immediately establish itself as the industry standard, a recognized brand, and quickly capture a majority stake in this $11 Billion dollar industry. ''Additionally, in October, we will be supplying 100 artauction.com customers with our free ePIN which then be used with our SafeTpay service to pay us by Same-as-Cash from home with their ATM card and PIN. This results in a tremendous savings for artauction.com. and we will offer discount incentives to encourage Same-as-Cash Internet purchases.' About eConnect: eConnect is focused on Internet and other consumers using financial cards and inexpensive equipment from homes, offices, and mobile locations to make purchases or pay bills. eConnect has developed SafeTpay to enable that service, and has acquired artauction.com and econbid.com to generate revenues and to act as test sites for SafeTpay. eConnect has developed EzyShop, a kiosk approach for non Internet consumers. eConnect has developed the first Linux based transactional server and a host processor that will drive these transactions originating from eConnect hardware. eConnect generates a merchant fee per transaction. The Securities Litigation Reform Act of 1995 Management cautions that these statements may include projections and estimates of future performance and involve certain risks and uncertainties. Actual results could differ materially from those anticipated in these forward-looking statements as a result of factors such as changes in the marketplace, unanticipated competitive activity, a downturn in economic conditions, or delays in product development. -------------------------------------------------------------------------------- Contact: eConnect Carnegie Cooke Anita Goldberg, 800/262-2331 (investor relations) www.e-connect.cc or ET&T: Prima Capital Elias Argyropoulos, 800/600-8599 www.ezyshop.cc --------------------------------------------------------------------------------