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To: Edwin S. Fujinaka who wrote (4430)	3/13/2000 7:15:00 PM
From: Edwin S. Fujinaka	Read Replies (1) \| Respond to of 6018

Still some positive news from Bloomberg: News Corp. Setting Up $650 Million Fund for Internet, WSJ Says By Rajiv Narayana Sydney, March 13 (Bloomberg) -- News Corp. is setting up a new $650 million venture-capital fund to make investments in Internet companies, almost doubling the amount it allocated for its first fund eight months ago, the Wall Street Journal reported. The new fund will aim to finance Internet companies outside the U.S. News Corp. will contribute $250 million to its new epartners II fund, Softbank Corp. will put in $200 million, and the balance will come from other investors, the paper said. Softbank, Japan's largest Internet investor, said it plans to invest as much as $5 billion in Internet ventures worldwide in the next 16 months. ************************* PhilWeb.Com Receives Investment From AIG, Softbank (Update1) By Dominic G. Diongson with reporting by Ian C. Sayson (Adds comment from analyst background. Closes stock price.) Manila, March 13 (Bloomberg) -- American International Group Inc., the No. 1 U.S.-based insurer by market value, and Softbank Corp., Japan's No. 1 Internet investor, will invest in PhilWeb.Com Inc., helping the Philippine company expand Internet services. AIG and Softbank will buy $2.5 million of PhilWeb.Com stock and get warrants for 1 billion shares at a par value of 1 centavo per share. Each will get a seat on the 15-member board. Neither company will be able to sell its shares for six months. PhilWeb.Com, a former unprofitable mining company, plans to invest in local companies with a connection to the Internet, including Internet service providers, electronic commerce software developers and cable network operators with high-speed data transmission lines. ``As with other Internet stocks, here and in all other countries, we can only talk about the Web's potential,' said Gladys Villanueva, analyst at Angping Securities, who rates the stock ``market perform.' ``While other stocks are just riding on the market's interest on Internet stories, only Web has firmed up a couple of business deals with foreign companies' other than AIG and Softbank, she said. The three companies will also form a venture capital fund, to be managed by PhilWeb.Com, with 1 billion pesos ($24.5 million) to invest in Internet-related companies. PhilWeb.Com will own 50 percent of the venture capital company, while AIG and Softbank will each own 25 percent. PhilWeb.Com President Alex Villamar said it plans to spin off the company and sell shares to the public on the Philippine Stock Exchange. AIG's investment in PhilWeb.Com originates from its previous relationships with two of PhilWeb.Com's directors, Roberto Ongpin and Jaime Gonzales. The U.S. insurer was an investor in property developer Belle Corp. when both officials had served as directors. PhilWeb.Com fell 6.1 percent to 46 centavos today, after rising as much as 10 percent. For the year, the stock gained more than 500 percent, compared to the main index's 25 percent loss.

To: Edwin S. Fujinaka who wrote (4430)	3/13/2000 8:26:00 PM
From: TobagoJack	Read Replies (2) \| Respond to of 6018

I am not afraid, I am not afraid, and oh, did I forget to mention within the last 5 seconds that I am not afraid?Stock Outlook: Sony, Softbank Shares To Recover TOKYO (Nikkei)--Hopes for the share prices of information-related equities were so high that the stock market is now compensating for the overbought levels that individuals and investment trust funds pushed them to, says Norio Suzuki, a senior investment manager at Indocam Japan Ltd. After a week, there will be a move to pick up Sony Corp. (6758) stock on dips, he says, adding that buying opportunities will soon abound. Next up after Sony will be shares of Softbank Corp. (9984), which has strategies in finance and other areas, he notes. Suzuki says he would not be surprised to see Softbank stock moving up after about two weeks. However, Hikari Tsushin Inc. (9435) faces problems about expectations for the development of its business, he says. (The Nikkei Financial Daily Tuesday edition)