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To: Jeffrey L. Henken who wrote (564)	3/9/1999 8:12:00 AM
From: Francois Goelo	Read Replies (1) \| Respond to of 2662

CORRECTION + Ref: SNMM, coverage initiated: BUY RECO & TARGET: $14/20 Yesterday I wrongly posted SFLK instead of SNMM.... NEW YORK--(BUSINESS WIRE)--March 8, 1999--Public Analysis & Review (PAR), the unique professional independent analyst program administered by the non-profit Investors Research Institute, Inc., announces that John M. Dutton, professional analyst qualified in the PAR program, has initiated coverage of Starnet Communications International, Inc. (OTC BB: SNMM), and has assigned the company—which is enrolled in the PAR program along with Planet City Corp. (PINC), ALYA International (ALYA), Mortgage Bankers Holding Corporation (MBHC), LifeOne, Inc. (LONE), CorpHQ, Inc. (COHQ), Auto Network (ANWK), Cadapult Graphic (GRFX), BoysToys.com (GRLZ), Virtuallender.com (VLDC), and Crys-Tel Telecommunications (CYSS) -- a “buy” rating, with a 12-month target of $14 to $20. A summary of the report follows. PAR has authorized the company to post the full report at its website at12:30 p.m., following requisite NASD notifications and wire disseminations. In addition, the report may be obtained upon request from info@mawest.com or via fax upon request to 650-588-2678. Date of Report: March 8, 1999 Shares Outstanding : 22,638,262 Stock Price: $4.93 Estimated Float: 9,000,000 Latest 12 mos. Price Range: $6.03 - $ 3/8 Recommendation: Buy Industry Sector: Internet Gaming and Target Price (12 mos.): $14 -$20 Entertainment 10 Day Avg. Volume 335,320 Starnet Communications International, Inc. (BB: SNMM), formed in 1997 by the acquisition of Starnet Communications Canada Inc, is a SEC full reporting Delaware corporation operating from Vancouver. Using the Starnet Canada capabilities in internet technology, site development, and EFT transaction processing, the Company has grown to be one of the three leading international licensors of on-line gaming. Starnet is the only licensor that also operates its own on-line gaming site. SNMM developed five gaming venues including 22 casino games, brokerage of international lottery tickets, operation of live sports book wagering, and twenty-four hour live simulcast and paramutual betting on horse and dog racing. A bingo/keno game soon will be operational. Starnet's first sale of its $100,000 license closed in Q4 of FY 1998, an additional seven were concluded through Q2 of FY 1999. Three more were added in Q3 and six so far in Q4 for 17 licensees total. Our earnings model projects the sale of 22 in fiscal 2000, and 25 in fiscal 2001. The use of the internet to deliver a gaming product has opened a substantial, worldwide market. Frost & Sullivan estimate that wagering via the internet for casino games and sports events was approximately $1 billion in 1998. A recent report quotes gaming industry consultants hristinansen/Cummings Associates estimating internet wagering to reach $2.3 billion by 2001. The US's 1961 Interstate Wireline Act and the possible Kyl Act removes US residents from this market. Major gaming companies, including Harrah's, Park Place, and others including possibly Microsoft, have made substantial casino investments in Australia as a way to position themselves for the growth of worldwide internet from Australia. Starnet revenues and EPS for the current fiscal year ending 4/99 are projected at US $9.7 million and US $.10 respectively. This is projected to grow to $37.3 million and $.75 - $.80 for the year ending 4/01. Its shares should move to NASDAQ or AMEX after the fiscal year end. About John M. Dutton, Analyst John M. Dutton, a member of both the Boston and Los Angeles Security Analyst Societies, has been an analyst and director of research at several firms including Moseley, Hallgarten, Estabrook & Weedon and LH Friend, Weinress, Frankson & Presson. He was president of Corsair Asset Management, an asset management firm, for over 11 years. For seven years he was a senior executive at the international hospital company American Medical International. Mr. Dutton's present work includes development and execution of strategic and financial planning for small cap companies. About Public Analysis and Review Program Public Analysis & Review (PAR) is a program of the Investors Research Institute, Inc. (IRI), a non-profit membership organization for individual investors and others advocating higher standards of “accessibility”, “scrutiny” and “disclosure” for public companies. Continuing quarterly coverage by an independent analyst is a requirement to meet the “scrutiny” requirements for the elite “Seal of Best Practices in Investor Relations” standard. Anyone, including a company, may enroll a company for coverage. PAR analysts are responsible only to the public, and are qualified and assigned solely by the Institute, separate from the fiduciary entity, which is IRI, Inc. (IRIK), a public company in registration and financial administrator for the non-profit Institute. PAR analysts are paid in advance to eliminate pecuniary interests and insure independence. PAR enrollment fees are $15,000 per annum. See full disclaimer at website before investing. Information, opinions or recommendations contained in this report are submitted solely for advisory and information purposes. This report or study is not intended as an offering or a solicitation of an offer to buy or sell the securities mentioned or discussed. Contact: John M. Dutton 213-630-4401 jmdutton@ix.netcom.com or Investors Research Institute, Inc. C. Partridge Phone 212-484-4747 parprogram@usa.net investorsresearch.org or Starnet Communications Alan Poole 604-685-7619 snmm.com or M&A West Scott Kelly, 650-588-2678 scott@mawest.com mawest.com

To: Jeffrey L. Henken who wrote (564)	3/9/1999 11:27:00 AM
From: Francois Goelo	Read Replies (1) \| Respond to of 2662

Jeffrey, next BIG BOOM: CHINA's INTERNET: XNET (.40/.48) Target: $1.50!!... Internet is still in its infancy in China, but the growth prospects are unparalleled anywhere in the world. The leaders are aware that China's future very much depends on modern broad band communications and have completed the laying of some 100,000 kms of optic fibre cable. China's economy is expected to surpass the USA's before Year 2010; they have 1.2 Billions consumers and growing. I have started to accumulate shares in Internet related Companies that will directly benefit from these opportunities, and the most undervalued at the moment is XNET. Please check this price comparison of Companies (ISP, Portal, e-commerce)involved in the Internet in the Far East that have a thread on SI for Due Diligence: PCNTF: IPO at $17/high of $88/today at $29.00 IMOT: today $3 1/8 GTCI: today $1 1/2 XNET: today 40/48 cents!! Disclosure: Long XNET 40,000 shares (also long GTCI & IMOT) This my opinion only and potential investors should thoroughly research (DD) the stock before investing. Regards, F. Goelo + + + Message 8116325 >>INFORNET XIN HAI TECHNOLOGY DEVELOPMENT Co. COMPANY PROFILE OVERVIEW Xin Hai Technology Development Co., an Information Hi-Tech Development Company (Infornet), based in Beijing, China. It comprises of young telephony, Internet, networking and database talents to build states-of-the-arts Internet communication products which changes the landscape of the telecommunication market and benefits its customers around the world. Start from eight people and 150 thousand dollars in 1993, Infornet has grown significantly in a short period of time. The Company now has six departments (Application Development, Technical Support, Overseas strategy, Telecommunication, Public Relation and Customer Consulting), 80 staffs and 10 millions capital. Its offices scatter around the country. Among all the ISPs in China, Infornet is one of the leading company, which focuses on providing high quality Internet access services plus some special services called e-mail service platform. Most of them require no software using or modem setup. These Internet access services and products including World Wide Web server hosting and integration services, client software and security products, training and network integration, as well as consulting services to the Chinese market. The net result yields inexpensive and high efficient telecommunication for varies customers. If you have a business and you want to advertise your products or services, Infornet can custom design a WWW page for you, where it can be seen by anyone world wide who has access to the Internet. You can also use our services for long distance communication and save money. BACKGROUND The Internet takes the world by storm in 1994 and since then, it has reached a critical mass and is poised to become a global communication network, and an essential business communications tool. While worldwide usage of the Internet continues to grow exponentially, the Internet market is still embryonic in China. Compared to around 28 million worldwide users of the Internet, up from 1 million at the end of 1995, there are only around 40,000 to 60,000 users in China. Recently, China is constructing its information superhighway vigorously and "The Internet in China is red hot", said by Bryan Nelson, Microsoft Greater China Regional Director. Many people in China are eager to take advantage of the Internet. Over the next four years, it is predicted that Chinese Internet usage will grow more than 50% annually. In hope to take a good share in this huge Chinese Internet market, Infornet devotes in building one of the largest WAN in the world and wish to co-operate with foreign companies or investment groups to explore the market. PRODUCTS AND SERVICES Internet Access Services Infornet provides high-quality dedicated and dial-up Internet access services. These can be used by commercial customers and individuals to connect to, and work with, a wide range of Internet-based applications. Our dedicated access services also include registering domain name on the customers* behalf, providing technical support for installation, and assisting customers to embark on comprehensive Internet services, such as E-mail, FTP, Gopher and WWW. Access Control Software Our WWW search software is different from Netscape. It can be tailored to meet customers* unique need. Customers can set their favorite web site address such as their correspondent banks address. The encryption (security) technology at both the server and browser level also allows network administrators to customize an individual user's environment, preventing employees from irrelevant browsing. E-mail Services Bundle Infornet assists commercial users in connecting their local e-mail system to the global e-mail system through a dedicate line to our network. They can easily send or receive e-mails without using complicate software and/or modem. Our e-mail services bundle include e-mail to fax, e-mail to pager and e-mail to cellular. All these services are backed by a high level of technical support. E-mail to Fax E-mail to Fax is a quick and easy way add on to Eudora Mail to send a fax message. The system is able to decode MS-Word, Write or Text attachment and retain all the fonts and graphics within the document and fax them to the fax machine. The user enters the destination fax number on the subject line in Eudora. The users can use either English or Chinese. With this service, users can receive their E-mails from a fax machine anytime, and anywhere in the world, where there may not be a computer or Internet (worldwide virtual office). E-mail to Pager E-mail to Pager is the easiest way to get E-mail notification. You will receive instantaneous notification of e-mail messages (or even the entire text of the message) on your pager. E-mail to Pager works with any e-mail provider and any paging company, so you can keep using your current vendors and use E-mail to Pager to integrate them. E-mail to Cellular E-mail to Cellular is similar to E-mail to Pager. You will get the e-mail notification the instant the e-mail arrives. In the near future, you may also listen to the entire text of the message at your option. Web Site Hosting and ManagementMany commercial users would like to take advantage of the Internet. But they are lack of technical staff and have insufficient budget. Infornet can help them present their business to the world with the high performance web server. Anyone with access to the Internet can visit our Server Site and view your products and services on his own in a hypertext graphical environment. Consulting Services on EncryptionThe explosive growth of the Internet brings with it the growing threat of attacks on corporate and institutional networks by unauthorized parties. Leak of commercial secret can cause unpredictable losses. Therefore, Infornet provides consulting services on encryption technologies include evaluation on the network, advises on security policy, suggestion on encryption software election,etc. Home Page DesignConcerning to home page design, Infornet has significant competitive advantages. Our creative virtual reality (VR) technology enables us to give you the ideal pictures and enhance your attraction to the world market. Net in the Net*To most Chinese users, language is a big obstacle. Infornet has develop a Chinese/English phrases and a Chinese database, therefore, make things easier to Chinese users. If it is possible, we will also set up a "net in the net" to facilitate the flow of knowledge between China and other countries.