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To: kevin404 who wrote (20244)	5/21/1998 1:33:00 PM
From: Alan Coccio	Respond to of 34592

JNNE news out. Isn't it funny how big trades always take place the day before news is released? JNNE currently .107 X .120 on 1.8 million shares. LOS ANGELES--(BUSINESS WIRE)--May 21, 1998--Jones Naughton Entertainment, Inc. today issued a statement regarding significant business developments. The Company also addressed the recent sharp increase in shareholder interest and trading volume. According to Company Chairman Joseph Naughton, increased interest in Jones Naughton Entertainment is a reflection of the Company's diligent efforts to maximize current opportunities. "As an information technology Company, we recognize that investors are keenly aware of this industry and we have recently experienced a much higher volume of investor inquiries. Our overriding goal has been to plan carefully, negotiate thoughtfully, and execute thoroughly each Company program and acquisition. We believe the success of this strategy is, to a great degree, responsible for the dramatic rise in interest from the investment community. "We are currently involved in negotiations to acquire a profitable publishing, advertising and direct marketing company which will further build upon our foundation for growth. This acquisition would be of great financial benefit to our Company and accretive to shareholder value. We will announce details of this acquisition as soon as possible, hopefully in the next few weeks."