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Microcap & Penny Stocks : Mortgage Bankers Holding Corp (MBHC) -- Ignore unavailable to you. Want to Upgrade?

To: Terry Lyon who wrote (813)	12/9/1998 8:00:00 AM
From: CIN-CIU-E	Respond to of 1241

Mortgage Bankers Holding Corp. Completes Acquisition of National Institute Companies of America, Inc National Institute Companies of America, Inc. CARNEGIE, Pa., Dec. 8 /PRNewswire/ -- Mortgage Bankers Holding Corp. (OTC Bulletin Board: MBHC) announced today that it has completed the acquisition of privately held National Institute Companies of America, Inc. ("NICA"), effective today. In accordance with the terms of the Stock Purchase Agreement, under which MBHC will acquire 100% of NICA, NICA shareholders will receive a total of 1,000,000 shares of Series A Preferred Stock of MBHC. Each share of Series A Preferred Stock is restricted in accordance with Rule 144 of the SEC code. As of December 2, 1998, there were 14,795,500 shares of Common Stock of MBHC outstanding in the public float per the Company's stock transfer agent, ChaseMellon Shareholder Services, LLC. Management of MBHC believes that it has effectively rescinded approximately 4,720,000 shares of outstanding Common Stock of MBHC as of this date. The 1998 year-end consolidated financial statements of Mortgage Bankers Holding Corp. will reflect the current revenues of National Institute Companies of America, Inc. 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 result could differ materially from expected results. Comments regarding this announcement may be made directly to James F. Carr, Chairman of Mortgage Bankers Holding Corp. at 888-BANKER1. SOURCE Mortgage Bankers Holding Corp. -0- 12/08/98 /CONTACT: James F. Carr, Chairman of Mortgage Bankers Holding Corp., 412-278-6272/ (MBHC) CO: Mortgage Bankers Holding Corp.; National Institute Companies of America, Inc. ST: Pennsylvania IN: FIN SU: TNM BS-KM -- PHTU049 -- 3555 12/08/98 17:14 EST prnewswire.com

To: Terry Lyon who wrote (813)	12/10/1998 11:12:00 AM
From: Taki	Read Replies (1) \| Respond to of 1241

On the new PR today the company says that there is only 10,000,000 shares of Common stock in the public market, after the Management effectively rescinded approximately 4,720,000 shares. And lets not forget the $2,500,000 in revenues from NICA, that the company will have in the 1998 year-end consolidated financial statements of MBHC. Things are looking good with the new Management so far. If they keep continue to make good progress on getting things done, maybe we will be looking at $1.00 stock not long from now.