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Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion. -- Ignore unavailable to you. Want to Upgrade?

To: Katie Kommando who wrote (41441)	4/5/2000 10:23:00 AM
From: StocksDATsoar	Respond to of 150070

I'm loaded up.. Let the rally begin. Pappa needs a new Yacht:-)

To: Katie Kommando who wrote (41441)	4/5/2000 10:26:00 AM
From: Bidder	Respond to of 150070

FNTN! For those who missed it!Financial Intranet Acquires Chinese Internet Content Provider Wed Mar 29 05:59:00 EST 2000 MOUNT KISCO, N.Y., Mar 29, 2000 (BUSINESS WIRE) -- Financial Intranet, Inc. (OTCBB: FNTN) today announced that the Company has purchased Longyin Network Technology Co., Ltd., a prominent Chinese internet content provider (ICP). The acquisition, an asset purchase approved by the Board of FNTN on March 20th, includes two of the leading Chinese content portal sites, hotage.com and hotage.net, and a leading e-mail magazine, E-age, which presently counts among its users approximately 10% of China's total on-line population. The acquisition is projected to provide an outgrowth to the FNTN model of providing bandwidth and streaming media services to the American investment industry. Michael Sheppard, President of FNTN, said "LNT currently has 800,000 subscribers in a huge new market which is doubling every six months. Our development strategy has always included global expansion and we felt that the China market presented a particularly attractive opportunity for growth." Maura Marx, Executive Vice President, added "This acquisition will allow us to participate from the ground floor up as a streaming media service provider in one of the world's key emerging markets. It is a tremendous opportunity because it gives our advertisers and content providers a direct conduit to a continuously growing audience. As the World Trade Organization opens up China to the rest of the world, we will have had the early entree into what we believe will be a lucrative new market." In a related development, FNTN also announced that additional funding from equity investors has been raised to fund the acquisition and add working capital to the Company. Corey Rinker, Chief Financial Officer of FNTN commented "These two transactions are a significant step in allowing FNTN to not only implement and expand its existing business plan, but also to significantly differentiate us from others in the marketplace. This takes our business model to a whole new level, as we've coupled our streaming media delivery model with the opportunity to stake out an early inroad into a vast and virtually untapped market of potential content users." Michael Sheppard further commented on the transaction: "We expect this transaction to fuel the next period of growth for FNTN. Hopefully we can continue to close other acquisitions that will allow us to accelerate our growth externally as well as internally. This has been our plan throughout FNTN's early development stage, and we are confident that we can now move rapidly through our next phase of growth." LNT began as a provider of Internet solutions for businesses in the province of Guangdong in southern China. LNT launched its hotage.com and hotage.net sites in February 1998, as China's Internet user population began its steady growth. It now provides unique information from its different media sources, and is poised to add a significant amount of additional content to its already diverse offerings. As part of the transaction, Wilson He, founder of LNT, will become a member of FNTN's Board of Directors, and the remaining LNT employees will similarly join FNTN in their current capacities. Mr. He commented: "LNT has been a recognized ICP in China for nearly four years and has a solid understanding of both the internet industry and the current situation of China's e-commerce. We are confident that joining forces with FNTN gives us the resources to complete our mission of implementing practical e-commerce concepts in China's markets while utilizing the latest streaming media technology. We're extremely pleased with the marriage of complementary services and platforms, and we look forward to identifying additional opportunities to grow the business in China." About Financial Intranet Financial Intranet, has established a proprietary, secured, on-demand data and video information network that links the brokerage and mutual fund industries together and connects both to the individual investor at the Company's web site, fntn.com. The Company also derives revenue from similar communication networks linking individual businesses with their remote location affiliates, in addition to the resale of communications services to the financial and business communities. Safe Harbor Statement Certain statements made in this release may contain language describing the plans, goals, strategies, intentions, forecasts and expectations of Financial Intranet that may be referred to as "forward-looking statements". Several important factors could cause actual results to differ materially from those in such forward-looking statements. Distributed via COMTEX.