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Gold/Mining/Energy : MGI Software (MGI on the TSE) -- Ignore unavailable to you. Want to Upgrade?

To: Biff who wrote (287)	10/1/1998 12:06:00 PM
From: Marc	Read Replies (1) \| Respond to of 553

09/29 9:58A (DJ) =MGI Software Expected To Announce Venture With Lycos >T.MGI By Scott Adams TORONTO (Dow Jones)--MGI Software Corp. (T.MGI) is expected to announce a joint marketing and development project with Internet firm Lycos Inc. (LCOS), perhaps as early as the end of the week, a source said. Details of the deal weren't available, but it's supposed to be the first of several such deals between MGI and Internet companies. MGI makes photography and video software. The deal with Lycos will involve MGI's PhotoSuite II, which it released at the end of August. MGI had sales of C$5.6 million and a loss of 23 Canadian cents a share in the six months ended July 31. Based in Richmond Hill, Ont., MGI has also been trying to boost its profile with the entertainment industry. As part of its Internet search engine, Lycos offers 40,000 pictures and sounds that visitors can download for free. MGI's stock has been struggling since its planned merger with Discreet Logic Inc. (DSLGF) fell apart earlier this year and because the release of PhotoSuite II was delayed through the summer. The stock is currently trading at 1.55, up from a 52 -week low of 1.25 hit earlier this month. -By Scott Adams; 416 -943 -7800; scott.adams@dowjones.ca (END) DOW JONES NEWS 09 -29 -98