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Non-Tech : Mortgage Banker's Holding Corp. (MBHC) -- Ignore unavailable to you. Want to Upgrade?

To: Mark[ox5] who wrote (13)	4/8/1998 8:41:00 AM
From: Scott Kelly	Read Replies (1) \| Respond to of 20

Wednesday April 8, 8:00 am Eastern Time Company Press Release SOURCE: Mortgage Bankers Holding Corp. Mortgage Bankers Holding Corp. Announces First Quarter Revenue Results CARNEGIE, Pa., April 8 /PRNewswire/ -- Mortgage Bankers Holding Corp. (OTC Bulletin Board: MBHC - news) and its subsidiaries report the first quarter operating results for the period ended March 31, 1998. Total revenue for the period was approximately $113,000. These results compare favorably with an increase of 70% over 1997's average quarterly results. Total revenue for 1997 was approximately $240,000. This increase in revenues is a result of the mortgage subsidiary's origination of $2,865,943 in mortgage loans for the first quarter of 1998 versus $8,726,331 for all of 1997, and the emphasis on the more profitable sub-prime lending market. In addition, the insurance subsidiary, which was established in April 1997, has experienced an average revenue growth rate of 75% in the first quarter. As a follow-up to a previous announcement, MBHC expects to have its first audit completed by April 30, 1998 as opposed to March 31, 1998. Mortgage Bankers Holding Corp. is a diversified technology-based financial services company, which, through its subsidiaries utilizes data transfer and exchange to offer a full spectrum of financial and asset management services and products. Financial Statements in this press release other than historical facts are ''forward-looking'' statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such statements about the Company's future expectations, including future revenues and earnings, and all other forward-looking statements be subject to the safe harbors created thereby. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results could differ materially from expected results. SOURCE: Mortgage Bankers Holding Corp. --------------------------------------------------------------------------------