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To: OtherChap who wrote (16482)	9/9/1998 10:05:00 AM
From: Glenn D. Rudolph	Read Replies (3) \| Respond to of 164684

BancBoston Robertson Stephens Initiates Coverage on Digital River With a Buy Rating PR Newswire - September 08, 1998 10:31 DRIV %CPR %FIN %RTG V%PRN P%PRN SAN FRANCISCO, Sept. 8 /PRNewswire/ -- BancBoston Robertson Stephens research analyst Keith Benjamin initiated coverage today on Digital River, Inc. (Nasdaq: DRIV) with a Buy rating. Digital River provides a complete outsourcing solution to software publishers and online retailers seeking to sell software online. The company's services include Web store hosting, electronic software delivery (ESD) and physical delivery, transaction processing, 24x7 customer service, data mining and merchandising services. At the end of June the company had contracts with 1,122 software publishers and 346 contracts with online retailers. Over 750 transactions occur per day. Benjamin expects growth to be a function of new clients and more volume through those clients as revenues shift from the physical retail world to the digital retail world. "We view Digital River as one of the emerging Internet e-business franchises," said Benjamin. "The company has built a leadership position through its first mover advantage and robust technology." Benjamin's price target of $15 is based on a 50 multiple of his C2000 EPS estimate of $0.30. His EPS estimates for 1998 and 1999 are ($1.00) and ($0.90), respectively. BancBoston Robertson Stephens is a leading international investment banking firm focused on emerging growth companies. The firm's 55 senior research analysts cover ever 600 companies. Additional information is available upon request. The information contained herein is not a complete analysis of every material fact respecting any company, industry or security. Although opinions and estimates expressed herein reflect the current judgment of BancBoston Robertson Stephens, the information upon which such opinions and estimates are based is not necessarily updated on a regular basis; when it is, the date of the change in estimate will be noted. In addition, opinions and estimates are subject to change without notice. This Report contains forward-looking statements, which involve risks and uncertainties. Actual results may differ significantly from the results described in the forward-looking statements. Factors that might cause such a difference include, but are not limited to, those discussed in "Investment Risks." BancBoston Robertson Stephens from time to time performs corporate finance or other services for some companies described herein and may occasionally possess material, nonpublic information re! garding such companies. This information is not used in the preparation of the opinions and estimates herein. While the information contained in this Report and the opinions contained herein are based on sources believed to be reliable, BancBoston Robertson Stephens has not independently verified the facts, assumptions and estimates contained in this Report. Accordingly, no representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information and opinions contained in this Report. BancBoston Robertson Stephens, its managing directors, its affiliates, and/or its employees may have an interest in the securities of the issue(s) described and may make purchases or sales while this report is in circulation. BancBoston Robertson Stephens International Ltd. is regulated by the Securities and Futures Authority in the United Kingdom. This publication is not meant for private custo! mers. The securities discussed herein are not FDIC insured, are not deposits or other obligations or guarantees of BankBoston N.A., and are subject to investment risk, including possible loss of any principal amount invested. BancBoston Robertson Stephens CRD number is 41271 SOURCE BancBoston Robertson Stephens /CONTACT: Cheryl Popp, 415-693-3506, or Keith Benjamin, 415-693-3285, both of BancBoston Robertson Stephens/ /Company News On-Call: prnewswire.com or fax, 800-758-5804, ext. 110914/ /Web site: rsco.com (DRIV)