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To: MoneyMade who wrote (774)	12/15/1998 1:56:00 PM
From: Logistics	Read Replies (3) \| Respond to of 15987

EMBU Release from NOV> Supposedly finalized deal will be announced this week. Wednesday November 18, 8:45 pm Eastern Time Company Press Release SOURCE: EMB Corporation EMB Corporation Executes Letter of Intent to Acquire TRAkkER Corporation for Internet Growth COSTA MESA, Calif., Nov. 18 /PRNewswire/ -- James E. Shipley, President and CEO of EMB Corporation (OTC Bulletin Board: EMBU - news) announced today that EMB Corporation, and TRAkkER Corporation have entered into a formal letter of intent whereby EMB will acquire TRAkkER. Terms of the transaction were not disclosed. Mr. Shipley said, ''EMB Corporation is a holding company whose operating subsidiary EMB Mortgage Corporation engages primarily in the mortgage banking business and, as such originates, purchases, sells and services mortgage loans. The Company's key strengths have been processing, diversity of products, customer service, state-of-the-art technology, a strong management team, with the ability to adapt to changes easily and quickly and innovative effective marketing. TRAkkER Corporation has recently developed proprietary state-of-the-art technology for the Internet as well as for our V.I.P. (Video InteractiveMortgage Process) Solution used in conjunction with Intel® Corporation's ProShare™ Business Conferencing 500 System.'' Mr. Shipley went on to say, ''We expect to grow our Internet business with this new proprietary software from TRAkkER. It provides delivery, analytical and underwriting methodologies that enables the consumer to accomplish the loan process easily and with minimum redundancy and errors. It will also allow EMB to seek strategic alliances with major Internet providers.'' EMB Mortgage is currently licensed in 31 states with 12 pending approval. With this new Internet cutting edge loan origination/underwriting technology, and EMB's marketing expertise, EMB Mortgage could substantially increase its present business. Byron Baldwin, President of TRAkkER Corporation said, ''TRAkkER Corporation's primary software product TRAkkER, was ''Built by Mortgage People, for Internet Consumers & Mortgage People.'' TRAkkER's technology has many of the characteristics and duties normally associated with that of a loan office, processor and underwriter. The true secret of TRAkkER is that it requires no mortgage industry knowledge by the user. TRAkkER is further outfitted with the ability to print standard mortgage documents, including RESPA disclosures. A loan, which used to take up to 72 hours to process and underwrite, can now be approved in less time than it takes to brew a pot of coffee. We look forward to our association with EMB, a company that has a vision for the future.'' EMB Mortgage Corporation uses the cutting edge technology of Intel® Corporation's ProShare™ Business Conferencing 500 System, along with the Company's own proprietary interactive video conferencing software, the V.I.P. (Video InteractiveMortgage Process) Solution to originate home loans from any location in the United States to one of EMB's National Processing Centers. A number of statements contained in this Report are forward-looking statements which are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve a number of risks and uncertainties, including the timely development, and market acceptance of products and technologies, competitive market conditions, successful integration of acquisitions, the ability to secure additional sources of financing, the ability to reduce operating expenses and other factors described in the Company's filings with the Securities and Exchange Commission, including its 1997 form 10-KSB. The actual results that the Company may achieve may differ materially from any forward-looking statements due to such risks and uncertainties. SOURCE: EMB Corporation ------------------------------------------------------------------------ More Quotes and News:EMB Corp (OTC BB:EMBU - news)Related News Categories: banking