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To: steve host who wrote (57)	2/3/1999 11:43:00 AM
From: Spunky Beaver	Read Replies (2) \| Respond to of 489

Steve, Thanks for the info. As much as I hate to expose my ignorance I will do so in the hope that I might learn something. Over the past month or so I have seen Mr. Pink and others refer to companies doing "road shows" prior to an IPO. I can only assume that company management is making the rounds to mutual fund managers, brokerages houses, etc. in order to promote interest in their IPOs. Is this a correct assumption? If partially correct, could you expand on this a little for clarity? Thanks, Real spunky, but not the sharpest Beaver in the pond.

To: steve host who wrote (57)	2/3/1999 11:25:00 PM
From: Mad2	Respond to of 489

From New Zealand one of the 20 or so other countries UIHIA operates in Copyright 1999 Wellington Newspapers Limited The Dominion (Wellington) February 2, 1999 SECTION: BUSINESS Pg. 13 LENGTH: 334 words HEADLINE: Saturn targets subscriber base BYLINE: BROCKETT Matthew BODY: SATURN Communications, Telecom's only competitor in the local calling market, aims to more than double its subscriber base to 20,000 this year. The Hutt Valley-based telecommunications provider said yesterday that a fifth of the homes it reached were taking up its telephone service. Corporate development director Sean Wynne said Saturn's Wellington city network would be complete by September, expanding its total market to about 100,000 homes. With a penetration rate of about 20 per cent, Saturn expected to more than double its present subscriber base of 8000 to 20,000, Mr Wynne said. "This year is going to be a very important year for us, to really consolidate what we've done to date to ensure we get a significant customer base." In addition to its local telephone service, Saturn offers a range of toll, data, television and Internet options. Mr Wynne said about 6000 people subscribed to its cable television service, but this number was also expected to grow. "The majority of our customers see value in Saturn packages, so they are buying more than one service." Launched in 1996, Saturn made a loss of US$ 7.2 million (NZ$ 13.3 million) in the nine months to September last year. The company projected that it would become cashflow positive in 2000 but was unlikely to turn a profit for several years, Mr Wynne said. "When you start up a company, you put your staffing in place, you go through your business plan, you build portions of your network, you build your back offices before you add a customer. That by definition means that you are going to be on the negative side of the ledger for some years." He said Saturn was investing $ 200 million in its network. "Things are tracking very much according to plan. We're very happy with the customer uptake. For us, establishing a sound customer base is very much the goal this year." Saturn's main shareholders are United States-based United International Holdings and Canada's SaskTel International. LANGUAGE: ENGLISH LOAD-DATE: February 2, 1999