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Non-Tech : pamc -- Ignore unavailable to you. Want to Upgrade?

To: port_mgr who wrote (19)	7/27/1998 5:59:00 PM
From: Steven M. Kaplan	Respond to of 570

From today's Philadelphia Business Journal: amcity.com Will Provident American's AOL deal bear fruit? ------------------------------------------------------------------------ Peg Brickley Provident American Corp.'s belated 1997 results were just as dismal as the company had predicted -- a loss of $18.6 million, according to documents filed with the Securities and Exchange Commission. The small Norristown-based managed-care health insurance provider has turned a profit in only two of the last five years. Last year's loss was the worst yet, and leaves Provident American with its hopes pinned to an Internet marketing venture that will have soaked up at least $8 million in cash before it is ready for test-launch in October. Its deal with America Online Inc. gives Provident American exclusive rights to sell health insurance to the Internet service's millions of subscribers. The insurer has already anteed up $4 million to AOL and has to come up with another $4 million within a few months. Provident American's Insurion Inc., the e-commerce subsidiary created for the AOL deal, kicked off in May with a $5 million private placement. There may be more private placements in Insurion's funding future, or even a spin-off and initial public offering. Provident American's own stock has not traded for months. It was delisted from the Nasdaq stock market in the spring when a change of auditors caused it to miss financial statement filing deadlines. "We are in the process of going for relisting," said Provident American spokesman John Gillin. "We can't say when it will happen, but we have taken care of our part of it." Fund raising for the new venture has tapped both old and new friends. Health Plan Services Corp., a Tampa, Fla.-based insurance management company, was the taker on the first $5 million in Insurion funding. It will come up with another $5 million, if Provident American can match the money. Provident American last year outsourced most of its administrative and other backroom functions to the Florida company. A new 15 percent owner of Provident American stock, Lynx Capital Management LLP of California, has stepped in to the financing and e-commerce picture. In addition to buying stock in the Nasdaq-delisted company, Lynx has inked a consulting deal with Provident American under which it collects a monthly fee for advice on online commerce. Peg Brickley can be reached at (215) 238-5136 or brickley@pbj.com. c 1998, Philadelphia Business Journal

To: port_mgr who wrote (19)	7/28/1998 12:57:00 PM
From: RON BL	Read Replies (1) \| Respond to of 570

Hey there old buddy. (this is DEVINR9) Good to see you are still around. Heard that we could see them back on board by the end of the week. I am anxious to see this finally happen. Your earlier posts were accurate in regards to the earnings. When the relisting occurs we will also get new announcements of other web sites. Its a shame that this delisting took place as PAMC would have been trading up in the 20's by now with all the net movements. Lots of good news around the corner.