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To: Jack of All Trades who wrote (48033)	1/27/1999 12:57:00 PM
From: BRANDYBGOOD	Respond to of 119973

On XTON from reuters... Home - Yahoo! - Help Yahoo! Pager - buddy lists, instant messaging, email notification [ Business \| US Market \| By Industry \| IPO \| AP \| S&P \| International \| PRNews \| BizWire ] Wednesday January 27, 12:33 pm Eastern Time Executone up as spin-off advances NEW YORK, Jan 27 (Reuters) - Shares of Executone Information Systems Inc. were up 40 percent on Wednesday after the company said holders of its preferred stock had approved the terms of the proposed spin-off of Executone's Internet lottery unit. Executone's shares were up $1 to $3.50. The stock, which only a month ago traded at less than $1, touched a new 52-week high of $4.125 earlier in the session. The company said the action by its preferred-stock holders may accelerate the spin-off of eLottery Inc., which provides systems, applications and services for lottery products via the Web, by 30 to 45 days. The approval eliminates the need for a proxy solicitation and special shareholder meeting, Milford, Conn.-based Executone said. Executone has hired Jefferies & Co. to assist in the spin-off. Executone plans to distribute to its shareholders 85 percent of the common equity of eLottery, formerly known as Unistar Gaming Corp., and exchange the rest for outstanding Executone Series A and Series B preferred shares. Executone develops voice and data communications systems, including telephone systems, voice mail systems and specialized healthcare communications systems.