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Technology Stocks : fashionmall.com, Inc. (FASH) -- Ignore unavailable to you. Want to Upgrade?

To: Elroy who wrote (36)	12/28/2000 4:09:03 PM
From: Glenn Petersen	Read Replies (1) \| Respond to of 76

FASH has received another offer at $3.50 per share. This still represents a discount to the $4.44 per share in cash that FASH had on hand at September 30, 2000. The success of this offer is problematic given that the officers and directors control 52% of the stock. Narax, Inc., Offers to Buy Fashionmall.com; Beverly Hills Based M&A Firm Offers $3.50 per Share, in Cash BEVERLY HILLS, Calif., Dec 28, 2000 /PRNewswire via COMTEX/ -- Narax, Inc., a Beverly Hills based M&A firm, today announced it has sent an offer letter to the management of Fashionmall.com (Nasdaq: FASH chart, msgs) ("FASH"), offering to acquire all of FASH shares for $3.50 per share, in cash. The price represents a substantial premium above the market price. Michael Savage, President of Narax, Inc., was quoted saying: "I believe FASH is an extraordinary opportunity that could be developed with the help of its management and has the potential to expand into overseas markets. I hope FASH's management will support the terms of the deal, as our offer is at a substantial premium to the current market price." The offer is NOT contingent on financing, which is already lined up, and Narax is ready to begin the acquisition process immediately. Narax, Inc., is a Mergers and Acquisitions firm that invests in early stage companies and Internet businesses. For further information, please contact Michael Savage, 310-663-7002. Source: Narax, Inc. Contact: Michael Savage of Narax, Inc., 310-663-7002 (FASH)