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Strategies & Market Trends : Joe Copia's daytrades/investments and thoughts -- Ignore unavailable to you. Want to Upgrade?

To: Joe Copia who wrote (2892)	5/18/1998 9:08:00 AM
From: Jason Flora	Respond to of 25711

Telescan Retains NationsBanc Montgomery Securities to Explore Alternatives To Maximize Shareholder Value PR Newswire - May 18, 1998 07:12 TSCN %CPR %MLM V%PRN P%PRN HOUSTON, May 18 /PRNewswire/ -- Telescan Inc. (Nasdaq: TSCN) announced today that it has retained NationsBanc Montgomery Securities, LLC, to advise the Company in exploring strategic alternatives including a potential change in the ownership of the company in order to maximize shareholder value. Telescan Chairman and Chief Executive Officer David Brown said, "We believe that our current stock price is at a level substantially below the long-term potential of the business. This is underscored by the recent, unprecedented rise in the stock prices of many Internet-related companies and Telescan's growing presence in providing valuable, proprietary Internet-based services to individual investors as well as customized technology to such leading companies as American Express, Citibank, Fidelity Investments, Standard & Poor's and Time Inc. New Media, among others." Brown said the Company expects record full-year revenue and earnings with increases in Internet-related business. He explained that the Company has had unsolicited contact from parties expressing interest to acquire or merge with Telescan. The Board of Directors and management believe that initiating a formal process to consider such contacts as well as other alternatives at this time is in the best interest of shareholders in order to maximize shareholder value, Brown said. "With the consolidation taking place in the financial services industry and Internet-related businesses, it is incumbent on Telescan to assess how the Company can best take advantage of these dynamic changes to achieve long-term success," Brown said. "Our history of providing patented online technology to a range of third-party partners in the publishing and financial service industries, coupled with our premier financial databases and analytical tools for investors, place Telescan squarely in the midst of these industries." Brown said he expects Internet-related business will account for 50% of revenue by year-end as more leading financial institutions turn to Telescan to develop customized Internet offerings because of the Company's superior patented technology. Telescan's Internet alliances include American Express, Citibank, Standard & Poor's, Time Inc. New Media(Fortune) and Web Street Securities. In addition, the Company has long-standing alliances with Fidelity Investments and Charles Schwab & Co. He said that the Company's selection for third-party alliances by some of the world's leading financial institutions is a "tribute to the unique proprietary Internet technology Telescan has developed to provide the highest quality online services as well as valuable, proprietary financial analytical tools." Meanwhile, Wall Street City(R) (www.wallstreetcity.com), Telescan's investor supersite, continues to gain in popularity and advertising support. The website now receives more than 5.6 million page views a month and was cited as one of the top 10 investment websites by Barron's. Monthly advertising has grown fourfold over the past year. Telescan, based in Houston, is an industry leader in providing innovative solutions for Internet services, online technology and data retrieval. The company develops and operates major Internet sites and online networks serving the financial, publishing,entertainment and technology-transfer industries. Its Wall Street City supersite is the only Internet-based financial website to give its users the ability to do technical analysis, build multiple portfolios and link stocks to an innovative, personalized stock ticker. "Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: Except for historical information, the matters discussed in this news release that may be considered forward-looking statements may be subject to certain risks and uncertainties that could cause the actual results to differ materially from those projected, including uncertainties in the market, pricing, competition, procurement and manufacturing efficiencies, and other risks detailed from time to time in the company's SEC reports. The company assumes no obligation to update the information in this release. SOURCE Telescan Inc. /CONTACT: David Brown of Telescan, 281-588-9700; or Michael Yagemann of NationsBanc Montgomery Securities, 212-583-8180; or Jeffrey Goldberger of Stern & Co., 212-888-0044, for Telescan/ /Web site: wallstreetcity.com /Web site: telescan.com