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Technology Stocks : Avalon Group, Inc. -- Ignore unavailable to you. Want to Upgrade?

To: Madeleine Harrison who wrote (844)	1/29/1999 2:21:00 PM
From: OFW	Read Replies (1) \| Respond to of 1530

CEDAR RAPIDS, Iowa--(BUSINESS WIRE)--Jan. 29, 1999--Following approval by the Board of Directors, Avalon Group, Inc. has signed an Agreement and Plan of Merger with Appropriate Health Services.com, Inc., a privately held corporation with offices in Sierra Madre, Calif. Although full details of the merger are not yet available, Appropriate Health Services.com (AHS) has offered a combination of AHS common shares, the provision of cash and the assumption of certain debts and liabilities, in return for the purchase of all of the outstanding shares of Avalon. To date, AHS has invested approximately $500,000 in Avalon Group, Inc. and will continue to provide funds as necessary in the forthcoming weeks until the merger is completed. The merger will be concluded after a Fairness Hearing before the State of California Commissioner of Corporations, due in February or March, 1999. The merger also will require approval by majority vote. Shareholders will soon receive further details, including a proxy statement regarding the merger plans. Ron Green, president and chief executive officer of Avalon Group, Inc. said "This announcement represents the culmination of many years of hard work and careful planning. The team at Avalon is very proud of its successes. Successes that include a burgeoning Internet site at www.stayhealthy.com, a state-of-the-art X-po!(TM) Internet terminal that was completely designed in-house, and new biosensor technologies that have been developed for introduction in 1999. "As a result of its efforts, Avalon has attracted the attention of AHS and its investment banking partners, who are expected to provide the major investments and additional resources that are required to bring these and other related products to market and to profitable returns. I am grateful for the support of our past and current shareholders and am pleased to recommend this merger as representing the best interests of all of the shareholders of Avalon. I look forward to continuing to build shareholder value for those who will become AHS shareholders as I join the management team at AHS, once this acquisition is completed. There are some very exciting and aggressive plans for 1999 and beyond. The new arrangements will help us to achieve the demanding goals and objectives we have set for ourselves in these plans." Appropriate Health Services.com, Inc. is in the business of acquiring health and health care-related businesses. This release contains forward-looking statements that involve risks and uncertainties and actual results may be materially different. Investors are encouraged to perform comprehensive due diligence before making investment decisions. Avalon Group, Inc. stock symbol: OTC Bulletin Board(R): AVAL. --30--jc/ms* CONTACT: Henry Russell Bruce Public Relations Jim Thebeau 319/298-0242, ext. 213 E-mail: Thebeau@hrb-ideas.com