Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Rande Is . . . HOME -- Ignore unavailable to you. Want to Upgrade?

To: Trumptown who wrote (25502)	5/8/2000 3:02:00 PM
From: ALTERN8	Respond to of 57584

Remember LDP? Monday May 8, 10:09 am Eastern Time Company Press Release SOURCE: London Pacific Group Limited London Pacific Group Limited Investment Holding Files Registration Statement for Initial Public Offering LONDON, May 8 /PRNewswire/ -- London Pacific Group Limited (NYSE: LDP - news; London: LPG) is pleased to announce the following concerning VINA Technologies, Inc. (``VINA'' or the ``Company''; proposed Nasdaq NMS: VINA), an investment held by its subsidiaries: On 5th May 2000 VINA filed a registration statement with the Securities and Exchange Commission for an initial public offering. The offering will be managed by Lehman Brothers Inc., Thomas Weisel Partners LLC and U.S. Bancorp Piper Jaffray Inc. VINA is a leading developer of multiservice broadband access communications equipment that enables communications service providers to deliver bundled voice and data services. The Company's products integrate various broadband access technologies, including both circuit- and packet-based technologies, onto a single platform to alleviate capacity constraints in the local loop, or first mile, of communications networks. The Company believes that by integrating voice and data services onto a single broadband access platform, their solutions decrease network access equipment costs and operating expenses for their service provider customers. The Company's products also create additional revenue opportunities for service providers by enabling them to deliver enhanced service offerings. These services include local and long distance voice, as well as high-speed data services, such as Internet access, business-to-business electronic commerce, extended local area networks, outsourced applications services and messaging. By supporting both circuit- and packet-based technologies, the Company's products protect service providers' existing investments in legacy networks and offer them a clear migration path to next generation, converged voice and data networks. They also facilitate seamless and remote upgrades and service provisioning by the Company's customers. VINA sells its products directly through their sales force and indirectly as an original equipment manufacturer for Lucent Technologies and PairGain Technologies, which sell their products to competitive local exchange carriers, or CLECs, and incumbent local exchange carriers, or ILECs. The Company's largest direct and indirect communications service provider customers include 2nd Century Communications, Allegiance Telecom, Birch Telecom, Broadwing, Gabriel Communications, Intermedia Communications and Time Warner Telecom. The Company currently intends to use the net proceeds of the offering for general corporate purposes, including working capital and capital expenditures and expansion of their domestic and international sales and marketing efforts. A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. When available, copies of the preliminary prospectus relating to the offering may be obtained from Lehman Brothers Inc., Thomas Weisel Partners LLC and U.S. Bancorp Piper Jaffray Inc. Details of the above offering may also be found on the SEC website for EDGAR filings www.sec.gov. London Pacific Group Limited, based in Jersey, Channel Islands, is a financial services company with four business areas: annuities, venture capital management, asset management and financial advisory services. Funds under management, consulting or administration were $4.6 billion at 31st March 2000. R.W. Green Company Secretary