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To: Andrew Vance who wrote (12205)	2/19/1998 11:18:00 AM
From: Andrew Vance	Respond to of 17305

AV -- I know I said I would lay off but: Thursday February 19, 10:30 am Eastern Time Standard Automotive names Merker chairman HILLSBOROUGH TOWNSHIP, N.J., Feb 19 (Reuters) - Standard Automotive Corp (AJX - news) said Thursday that it has elected Steven Merker, treasurer and a director of the company since August 1997, as chairman of the board. The company also said that Roy Ceccato, a director of the company since August 1997, has been named chief financial officer. No further details on the appointments were immediately available. Notice the dates these guys joined the company. I know Merker was the guy behind the IPO and takeout of the original owners to grow the business. These outsiders came into the fold to accomplish 2 things: take the company public and dramatically expand the business. Looks like they also took over the company<GGG>. Cool as far as I can tell. These guys have the most at stake in the "pay for performance" category.<GG> I think we are talking about a 1/22/98 IPO with this being the first news release after the 30 day quiet period. Stock up a bit today, though it has been higher over the past 4 weeks. Whoops. Went to verify the IPO date and found a NEW story. Obviously the quiet period is over. Thursday February 19, 8:21 am Eastern Time Company Press Release Standard Automotive Announces $30,000,000 Purchase Agreement with Trac Leasing, Management Addition HILLSBOROUGH TOWNSHIP, N.J.--(BUSINESS WIRE)--Feb. 19, 1998 Standard Automotive Corp. (AMEX: AJX, AJX.PR) announced today a purchase agreement with Trac Leasing for 4,800 remanufactured trailer chassis and 800 new trailer chassis. Based on the company's estimate, this purchase agreement should generate revenues of $30,000,000 for the fiscal year ending March 31, 1999 of which $10,000,000 represents incremental revenue. Trac Leasing, with facilities in New York City and Princeton, N.J., purchases new chassis from Standard Automotive Corp. for the account of steamship lines, other lessees and end users, and purchases remanufactured chassis for their own account. Standard Automotive Corp.'s 1,150,000 Shares of Convertible Redeemable Preferred Stock and 1,495,000 Shares of Common Stock commenced trading on the American Stock Exchange Jan. 22, 1998. The Convertible Redeemable Preferred Stock and Common Stock were sold in an Initial Public Offering from which the company derived aggregate gross proceeds of $28,750,000. Westport Resources Investment Services Inc., Millennium Financial Group Inc., RAF Financial Corp., and Weatherly Securities Corp. served as co-managers in connection with the offering. The company anticipates announcing its three and nine month statements of operations and earnings for the third quarter ended Dec. 31, 1997 during the first week of March 1998. Standard Automotive Corp. also announced that Steven Merker, Treasurer and a Director of the company since August 1997, has been elected as Chairman of the Board; and Roy Ceccato, a Director of the company since August 1997, has been named to the position of Chief Financial Officer. Standard Automotive Corp., through its wholly owned subsidiary AJAX Manufacturing Co. Inc., is a North American specialized manufacturer and remanufacturer of trailer chassis sold to leasing companies, steamship lines, railroad and trucking companies to transport overland 20', 40', 45' and 48' shipping containers. Standard Automotive Corp. intends to grow through the acquisition of companies that manufacture specialty trailers and truck bodies and complementary products and by establishing manufacturing facilities in various geographic regions of the United States. This release contains certain forward-looking statements regarding the impact of the company's agreement with Trac Leasing. Factors not under the company's control may cause actual results to be materially different from the expectations of the company. These factors include, but are not limited to, those detailed in the company's periodic filings with the Securities and Exchange Commission. HMMM!!! I wonder if this was a pocket story or it was just a coincidence<GGG>. Andrew

To: Andrew Vance who wrote (12205)	2/19/1998 11:49:00 AM
From: Andrew Vance	Read Replies (1) \| Respond to of 17305

AV--Choice News Story from Late last night. Whatta rip!!! Wednesday February 18, 10:16 pm Eastern Time Semiconductor equipment stocks seen rising in 1998 NEW YORK, Feb 18 (Reuters) - Shares of companies that supply equipment and services to computer chip makers are seen rising this year amid the belief that the worst of the Asian economic crisis has passed, industry analysts and company executives said on Wednesday. Even though capital spending on semiconductor equipment by Asian companies will likely dip this year and perhaps next, strength in other areas of the industry will buoy companies that are strategically prepared, according to speakers at the Seminvest conference in New York. ''We've probably seen a lot of the worst, and we think that investors over the next 12 to 18 months will see higher stock prices,'' Jonathan Joseph of NationsBanc Montgomery Securities said. ''The deeper the cuts in 1998, the better,'' said Elliott Rogers of Deutsche Morgan Grenfell, referring to expectations of reduced spending this year by Asian chip makers. He said many companies in the sector were looking beyond this year and planning for growth in 1999 and 2000. This month, semiconductor equipment companies such as Applied Materials Inc (AMAT - news) and Lam Research Corp (LRCX - news) have revealed wounds from Asia's recent economic problems, including slowed growth in orders and sales. Chip makers in South Korea and other Asian countries buy a big chunk of all chip-making equipment each year. Even so, James Morgan, Applied's chairman and chief executive, said the current market was rich with long-term opportunity, particularly for his company's products outside of the memory chip area. Applied's North American business is healthy, and Europe's economic climate is improving, driven by strong demand for logic and telecommunications devices, he said. ''While there may be some cutback in the next couple of quarters, the long-term viability is not in doubt,'' Morgan said. ''This should not be seen as a trend specific to our industry, but should be viewed as something that we have to deal with,'' he said. Morgan said the industry was closely watching Japan, where spending decisions for the next fiscal year are expected to be made soon. ''The key now is Japan,'' Morgan said. ''Depending on how that comes out will affect the entire industry.'' Andrew