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Microcap & Penny Stocks : PanAmerican BanCorp (PABN) -- Ignore unavailable to you. Want to Upgrade?

To: jdcpa who wrote (13846)	9/20/1998 9:44:00 PM
From: Gordon Gekko	Read Replies (7) \| Respond to of 43774

* Status of the Belize Project (2) * Another post from AOL. To the board: Between September 18-20 I traveled to Belize to attend the opening ceremony of the Affordable Housing Group Ltd (AHG) project in Belize. AHG is the fully owned subsidiary of Pan American BanCorp (PRWT) that is building and financing new homes in Belize. I visited the Ridge Lagoon Estates construction site, met with senior members of the new Belizean government, interviewed executives of the Affordable Housing Group and Pan American BanCorp and talked with Belizeans interested in purchasing AHG homes. Present at the project's opening ceremony were three Cabinet Ministers, over 200 prospective home buyers, government officials, and others. All told, about 250 people attended the inauguration ceremony. There was a band, dancing, food, and giveaways of Affordable Housing Group gifts including t-shirts with the company logo, pens, mugs and the like. The company also provided information for prospective buyers. Senior members of the government expressed support for the project, and most importantly, dismissed last month's official press release from the government as an attempt by a member of the former administration to sabotage the project. Apparently, the same official responsible for issuing the first press release, reissued the exact same release on September 17, 1998, which was picked up by the local newspaper Amandala, and then published on the Channel 5 television network. AHG officials said the new government would soon release public official support for the AHG project and remove the previous negative press release from the government's Belize Information Service web site. In fact, government officials told me within the next few months the Belize Information Service -- which put out the press release -- will be closed and a new information service established. I am in the process of developing photos from the trip showing the construction site, PRWT operations in Belize and perhaps more interesting to those who are wondering about how things go on the ground in Belize: photos of senior Cabinet Ministers, especially the new Minister of Housing, with senior PRWT executives at the Affordable Housing Group site. I will also transcribe interviews I had with the following individuals: John Schmitz (PRWT CEO), Dickie Bradley (Belize Attorney General and Minister of Housing), Ralph Fonseca (Minister of Economic Development and Trade), "Mac" Garrett (Affordable Housing Group Operations Analyst), Joseph Sanker (President/CEO Affordable Housing Group), Patience Manuel (Belize-American and first person to buy a home in the project), and several others. I will post all of this information on my personal web space on AOL as soon as I get the photos back from developing and as soon as I can transcribe my notes. Key points: 1) PRWT is definitely real in Belize. 2) The new government wholeheartedly supports the Affordable Housing Group project. 3) One of the new government's key promises: 10,000 new homes. Minister Fonseca told me they were counting on the private sector and projects such as AHG to get them to their goal. 4) Earlier government press release denying the project was erroneous, and stemmed from a combination of nasty politics, entrenched interests afraid of competition and a misunderstanding of semantics. 5) Indications I received from AHG officials is that an official government press release embracing the project, clearing the air and removing doubts is forthcoming. 5) AHG is targeting Belize-Americans who want to return to Belize for retirement, among others. There are approximately 60,000-80,000 such individuals in the United States today. Therefore the initial project -- which will be lucrative for AHG -- may grow substantially in the future. In a nutshell, I was highly impressed with what I saw. If the government will come out and remove the former negative press release and openly support this project as I was led to believe, I think this stock is going to be a phenomenal investment.

To: jdcpa who wrote (13846)	9/20/1998 9:51:00 PM
From: ColleenB	Respond to of 43774

I'm hoping that we'll hear from a couple shareholders about the event....give them at least until some time on Monday to respond..