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To: jwk who wrote (14)	1/29/1999 3:11:00 PM
From: Reverseman	Respond to of 525

TPGI REITERATES BUY RECOMMENDATION ON NETTAXI (OTC BB: NTXY), RAISES 1 YEAR PRICE TARGET TO $35. FOR IMMEDIATE RELEASE SAN FRANCISCO, Calif.. Jan. 29: The Phoenix Group International (TPGI) of San Francisco & New York today issued research reiterating their Buy recommendation on Nettaxi, Inc.(OTC BB: NTXY). In reiterating their Buy recommendation, TPGI analysts Paul B. Abramson, Jr. and Brian P. Fitzgerald revised their F'99 and F'00 EPS estimates upward and raised their one year price target to $35, after initiating coverage of NTXY on December 2, 1998 with a twelve month price target of $18. “With the valuation on the recent acquisition of Geocities (Nasdaq: GCTY - news) by Yahoo(Nasdaq: YHOO - news), and with both Xoom.com (News: XMCM - news) and TheGlobe.com (Nasdaq: TGLO - news) trading well above $50/share, we believe shares of NTXY are dramatically undervalued in comparison.” “Their unique E-Commerce system which allows users to bill purchases and services to their phone bills instead of unsecured credit cards, their recent deal to bundle the Internet the City CD-rom tutorial with Apple's (Nasdaq: AAPL - news) iMac for educational users and the Company's aggressive marketing plan are all strong signs of Nettaxi's ability to be a major player in the Internet Community Market.” “As of January 25, 1999, the Company's website (www.nettaxi.com) ranked #33 on the hot100 Sites (www.100hot.com), ahead of #34 TheGlobe.com, #50 E-Bay (Nasdaq: EBAY - news) and #64 Amazon.com (Nasdaq: AMZN - news), proof positive that this Company knows the key to building a strong internet presence is traffic.” “With its primary goal to be ”Family-Focused”, Nettaxi has carved out a niche for itself in the market for Community Web sites. Through an aggressive marketing campaign, wide-spread distribution of the “Internet the City” CD-ROM tutorial, strategic partnerships and Internet-savvy word of mouth, Nettaxi promises to become a forerunner in the building and expansion of successful, thematic Web Communities. The Company offers all of the elements that an Internet user requires in an integrated framework that proves user-friendly and competitively priced and can boast some of the latest technological innovations available to the Internet-going public. These factors, combined with the Company's substantial in-house support services, “Family-Focused” content filtration, vast industry experience and know-how, management strength and commitment of resources clearly show that Nettaxi has positioned itself with a firm foothold in the World Wide Web Communities market.” “We are reiterating our Buy recommendation and raising our twelve month price target to $35.” About TPGI: Headquartered in San Francisco, TPGI conducts business around the United States and Internationally in a myriad of financial enterprises. At the core of TPGI's activities are its three divisions: TPGI Corporate Finance, TPGI Equity Research & TPGI Entertainment Finance. The TPGI Research Team conducts in-depth research and analysis on select companies and securities on all major exchanges. TPGI Equity Research is available on a fee-basis, available by subscription to individual and institutional investors, broker/dealers, individual brokers and investment advisors. In addition to equity coverage, TPGI publishes “The Phoenix Report”, a weekly technical analysis of major markets, economic indicators and market commentary and “The Phoenix Trader”, a daily bulletin geared toward day traders focusing on “basket trading” and special opportunities. For more information or a copy of the TPGI Report, contact: Paul B. Abramson, Jr. or Brian P. Fitzgerald The Phoenix Group International, LLC (415) 292-4700 info@phoenixllc.com phoenixllc.com