To: andover who wrote (47921 ) 1/27/1999 11:49:00 AM From: BANCHEE Read Replies (1) | Respond to of 119973
andover I watch ONPT too. might move into in FEB before they report.. has no vol now.... XTON has the vol now and they filed S-1 1/25 for spin off..They will be promoting this issue and will get noticed....over 11 mil traded...should be good for a couple of days....more news should come.......... We will see..... Banchee Company Press Release EXECUTONE Information Systems Retains Jefferies & Company as its Financial Advisor for eLottery, Inc. Spin-off MILFORD, CT--(BUSINESS WIRE)--Jan. 25, 1999--EXECUTONE Information Systems, Inc. (Nasdaq NM: XTON - news), today announced that it has engaged the services of Jefferies & Company, Inc. to assist the Company in the proposed spin-off of its eLottery subsidiary. As announced last week, eLottery is the new name for Unistar Gaming Corporation, selected because it better reflects eLottery's business strategy and strengths. Executone and eLottery have entered into an agreement with Jefferies pursuant to which Jefferies will deliver (subject to the satisfaction of certain conditions) a valuation letter to eLottery. The Company intends to use the letter in its response to a request from the NASDAQ Stock Market for an independent valuation of eLottery. eLottery will also rely on the letter in preparing its filings with the Securities and Exchange Commission. eLottery provides systems, applications and services to facilitate the electronic sale of new and existing lottery products worldwide via Internet, Intranet and telephone networks. The Company believes that the electronic distribution of lottery tickets through these systems will increase sales for lotteries because they make the purchase of tickets more easily accessible and because they make use of technology to enhance and enliven the lottery gaming experience. With its unique ability to offer lotteries its new Internet and Intranet based lottery products worldwide, the Company believes it is well positioned to capitalize on the growth in non-traditional lottery sales. Stanley J. Kabala, Chairman and Chief Executive Officer commented, ''Jefferies' considerable investment banking experience and financial expertise will be instrumental in helping us maximize value for the shareholders of both Executone and eLottery. With the previously announced simplified transaction procedures of the proposed spin-off we are working to complete the separation in the first quarter of 1999.'' Jefferies & Company, Inc. is a leading global investment bank focusing on capital raising, research, mergers and acquisitions, advisory and restructuring services for small- to medium-sized companies, and trading in equity and taxable fixed-income securities, convertible bonds, options, futures and international securities for institutional clients. Executone Information Systems, Inc. develops, markets and supports voice and data communications systems. Products and services include telephone systems, voice mail systems, inbound and outbound call center systems, and specialized healthcare communications systems. Executone's products and services are sold under the EXECUTONE, INFOSTAR, IDS, LIFESAVER, and INFOSTAR/ILS brand names. Executone is on the World Wide Web at executone.com . This news release contains forward-looking statements. Such statements are subject to certain factors, which may cause Executone's plans to differ or results to vary from those expected including the risks associated with the development of new products and the uncertainty of product acceptance, the competitive nature of the Company's industry, rapid technological change, legal uncertainties, the Company's dependence on key personnel, and a variety of risks set forth from time to time in Company filings with the Securities and Exchange Commission. Contact: Executone Information Systems, Inc., Milford Edward W. Stone Chief Financial Officer, 203/882-6260 or Lippert/Heilshorn and Associates John Nesbett/Vince Daniels 212/838-3777