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Microcap & Penny Stocks : ASK: "THE LAST DON" OF MOMENTUM TRADES -- Ignore unavailable to you. Want to Upgrade?

To: MoneyMade who wrote (1784)	12/30/1998 11:53:00 PM
From: J R Hagan	Read Replies (1) \| Respond to of 15987

Hey guys nice thread , nice timing ! HNV , a passed up internut biz.yahoo.com*http://cbs.marketwatch.com/archive/19981230/news/current/stwatch.htx?source=blq/yhoo&dist=yhoo Subject 24523 biz.yahoo.com

To: MoneyMade who wrote (1784)	12/31/1998 12:02:00 AM
From: MoneyMade	Read Replies (1) \| Respond to of 15987

PSFT--PeopleSoft, Inc. Announces Record Date for Special Distribution of Shares of Momentum Business Applications, Inc. PLEASANTON, Calif.--(BUSINESS WIRE)--Dec. 30, 1998--PeopleSoft, Inc. (Nasdaq:PSFT - news) today announced that Dec. 31, 1998 will be the record date for the special distribution of shares of Momentum Business Applications, Inc. (''Momentum'') Class A Common Stock to the holders of PeopleSoft Common Stock. Holders of record on Dec. 31, 1998 will receive one Momentum share of Class A Common Stock for every 50 shares of PeopleSoft common stock owned. Certificates representing the Momentum shares will be mailed to PeopleSoft stockholders on or about Jan. 15, 1999. Momentum, a newly established enterprise in the software industry, was recently formed by PeopleSoft to accelerate research and development in the critical areas of e-business, analytic applications and industry-specific software products. It is expected that the Momentum shares will be traded under the symbol ''MMTM'' on the Nasdaq National Market. By Dec. 31, 1998, PeopleSoft will have contributed $250 million to Momentum. PeopleSoft will account for the fair market value of the shares distributed as a dividend and will expense the remainder. PeopleSoft and Momentum have entered into a development agreement pursuant to which PeopleSoft and possibly other third parties will undertake research and development activities on behalf of Momentum. PeopleSoft holds an option to acquire exclusive licensing rights with respect to individual products developed by Momentum. PeopleSoft also holds an option to purchase all of the outstanding Momentum Class A Common Shares at a price to be set by a predetermined formula. Based on approximately 233,800,000 shares of PeopleSoft Common Stock outstanding as of December 28, 1998, approximately 4,676,000 shares of Momentum Class A Common Stock will be distributed. Holders of PeopleSoft Common Stock will not be required to pay any cash or other consideration for the Momentum Class A Common Stock received in the distribution. No fractional Momentum shares will be distributed pro rata. The distribution is expected to be taxable as a dividend to each holder in the amount of the fair market value of Momentum shares distributed to such holder. Forward-looking Statements To the extent any statements made in this release pertain to information that is not historical, these statements are necessarily forward-looking. As such, they are subject to the occurrence of many events within and outside of PeopleSoft's control and actual results may differ materially from the statements made. The reader is cautioned not to rely on these forward-looking statements. PeopleSoft and Momentum disclaim any intent or obligation to update these forward-looking statements. Additional information concerning the factors affecting PeopleSoft's and Momentum's business can be found in press releases as well as in PeopleSoft's public periodic filings with the Securities and Exchange Commission, including the discussion under the heading ''Financial Risk Management'' in PeopleSoft's 1997 Form 10-K and the discussion under the heading ''Risk Factors'' in Momentum's Registration Statement on Form 10 describing the distribution These filings are available publicly and upon request from PeopleSoft's Investor Relations Department: 925/694-1496 or on the Internet at www.peoplesoft.com. Registration Statement The distribution of the Momentum Class A Common Stock shall only be made by means of an information statement. 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 distribution of the Momentum shares. 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. Merrill Lynch & Co. has acted as financial advisor to PeopleSoft in connection with the structuring and distribution of Momentum, and expects to make a market in the Momentum securities. About PeopleSoft PeopleSoft is a global supplier of enterprise application software for business and government. PeopleSoft solutions for manufacturing, supply chain, financial, project and human resource management are used by more than 2,700 customers worldwide. Headquartered in Pleasanton, PeopleSoft employs over 6,500 people and had 1997 revenues of $815 million. -------------------------------------------------------------------------------- Contact: PeopleSoft, Inc. Alfred J. Castino, 925/694-2856 al_castino@peoplesoft.com