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Non-Tech : NetBank(NTBK)-formerly Atlanta Internet Bank -- Ignore unavailable to you. Want to Upgrade?

To: Ron Kline who wrote (1126)	12/23/1998 4:30:00 PM
From: Nathan Montoya	Read Replies (1) \| Respond to of 2414

Wednesday December 23, 3:50 pm Eastern Time Company Press Release SOURCE: Net.B@nk, Inc. Net.B@nk, Inc. Files Registration Statement For Public Offering ATLANTA, Ga., Dec. 23 /PRNewswire/ -- Net.B@nk, Inc. (Nasdaq: NTBK - news) announced today that it has filed a registration statement with the Securities and Exchange Commission for a public offering of 2,370,000 shares of its common stock. Of such shares, the Company will offer 2,000,000 shares and a certain shareholder of the Company will offer 370,000 shares. In addition, the Company will grant to the underwriters an option to purchase up to 355,500 additional shares solely to cover over-allotments in the offering, if any. The net offering proceeds to be received by the Company will be used to fund an increase in its marketing budget from approximately $650,000 for 1998 to approximately $3.6 million for 1999 and to provide the additional capital required to support asset growth. Bear, Stearns & Co. Inc., Morgan Keegan & Company, Inc., Raymond James & Associates, Inc. and Kelton International Ltd. will act as the managing underwriters of the offering. Net.B@nk™ (www.netbank.com), member FDIC, the Company's sole subsidiary, provides a broad range of consumer banking and financial services over the Internet, including checking and money market accounts, certificates of deposit, electronic bill paying, debit cards, credit cards, mortgage loans, business equipment leases and securities brokerage services. A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. SOURCE: Net.B@nk, Inc.