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Non-Tech : NetBank(NTBK)-formerly Atlanta Internet Bank -- Ignore unavailable to you. Want to Upgrade?

To: Les White who wrote (395)	5/16/1998 1:18:00 PM
From: Les White	Respond to of 2414

Update on G&L Bank & AIB I had an interesting conversation with G&L's NCR rep yesterday. He said they were actively pursuing an expanded business relationship with AIB and had already closed on a deal for data services. This NCR rep has become a seed capital investor in G&L. That makes two! Both the software rep and the ATM rep are seed capital investors in G&L. Both have told me that they received tons of email from NCR employees congratulating them on their involvement with the G&L account. Lots of email from people they don't even know. The ATM rep said that senior management at NCR was solidly behind their involvement with G&L. Get the deals done, give them what they want, etc. He talked about some internal resistance to some of G&L's requests but had no doubt that senior management would adjust some attitudes. NCR is dominant in the ATM business and wants to be a leading player in the internet banking industry. That's why they want AIB and G&L, and everyone else I suppose. CTO, CFO, and COO have been hired. All are seasoned vets. The CTO is coming from a very large, well known bank. Can't say till he arrives at the end of the month. Seed capital investment round is concluded. About $1mil raised in 1 month! Investment banker meeting end of the month. Looks like mid August IPO. HQ remodeling is complete. Very cool inside. Colors, art, sculpture, in the lobby. Reminds me of Disney world. It makes quite an impression on visitors. Les