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To: H James Morris who wrote (78000)	9/22/1999 11:41:00 AM
From: gladman	Read Replies (1) \| Respond to of 164684

Looks like your EPNY is a triple bagger already. Congrats, Dave

To: H James Morris who wrote (78000)	9/22/1999 4:48:00 PM
From: Glenn D. Rudolph	Respond to of 164684

INTERVIEW-India's Rediff.com plans U.S. listing By Anshuman Daga BOMBAY, Sept 22 (Reuters) - Rediff On The Net, one of India's leading Internet publishers and service provider, plans to seek a stockmarket flotation in the United States in calendar 2000, the company's founder and chairman said. "We are planning a listing on NASDAQ by middle or late next year," Ajit Balakrishnan told Reuters in an intervew late on Tuesday. He said it was too early to comment on the issue size. Rediff On the Net runs Rediff.com, a popular Indian site which started off three years ago primarily as a news and information site. It is now tapping the net to sell an array of merchandise including books, music, gifts and other speciality items. Microchip maker Intel Corp <INTC.O>, venture capital firm Draper International and investment firm Warburg Pincus together hold a 40 percent equity stake in Rediff, an offshoot of Indian advertising agency Rediffusion-DY&R. Balakrishnan said the IPO is aimed at meeting the long-term capital requirements of the firm. "I am under a lot of pressure from investment bankers to rush the IPO," Balakrishnan said. "However, our firm needs a little more time before going public. I am making sure that quarter by quarter, we have predictable results." Balakrishnan said Rediff planned to seek a listing on an Indian stock exchange after the U.S. offering. "We are talking of investing close to $75-$100 million in this business in the next 18 months," he said. Like many other Internet firms, Rediff does not expect to become profitable for a few more years. "We will have operating losses this year, next year and maybe one more year," Balakrishnan said. Industry officials estimate the company's revenues to rise to about $7 million in 1999/2000 (April-March), up from the previous year's revenues of about $2-$3 million. Balakrishnan said in 1999/2000 (April-March), the company would earn half of its annual revenues from e-commerce, 30 percent from building websites and the balance from advertising. Last year, about 60 percent of Rediff's revenues came from building websites, 30 percent from advertising and the rest from e-commerce. REUTERS Rtr 04:05 09-22-99