To: Zakattack who wrote (27340 ) 6/25/1998 9:29:00 AM From: Big Dog Respond to of 34592
OK, you want one that will make money. You can't hold on for more than a day. Well, here is one that should run. A great deal of people including myself like this company long and realize that this release is only the precurser to the blockbuster earnings to follow. MBHC, it will go. BIG DOG Thursday June 25, 7:00 am Eastern Time Company Press Release Mortgage Bankers Holding Corp. Announces Preliminary Audit Figures CARNEGIE, Pa.--(BUSINESS WIRE)--June 25, 1998--Mortgage Bankers Holding Corp.(OTC BB:MBHC) has announced that it has received preliminary consolidated audit figures to be released in a final audit within the next two weeks. The company's net earnings show a loss of $1,912,810 for 1997, which is inclusive of the total cost expended by the company to go public which will be a non-recurring expense. The balance sheet, however, shows a substantial asset base through MBHC's investment in the Growth Fund Partners Inc., a $3.5 billion contrarian fund. The figures are preliminary only and are subject to final review by the company's independent auditors. Raymond P. Sobieralski, Chairman/CEO of MBHC commented, ''We have been working long and hard to finalize our audit and resolve issues with respect to valuation of company assets. It now appears the end is in sight and we should have our final figures shortly.'' More information on the preliminary figures can be obtained by calling M&A West Inc. (Investor Relations) at 650/588-2678 or through the MBHC website at www.mbhc.com within 72 hours of this release. Mortgage Bankers Holding Corp. is a diversified technology-based financial services company, which, through its subsidiaries, Mortgage Bankers Service Corp., Pinnacle Insurance & Investment Group Inc., International Auto Funding Corp., National Settlements Inc., and Commonwealth Capital Investment Corp., 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. -------------------------------------------------------------------------------- Contact: Mortgage Bankers Raymond P. Sobieralski, 888/BANKER1 or M&A West, Inc. Scott Kelly, 650/588-2678 www.mawest.com --------------------------------------------------------------------------------