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To: steve harmon - analyst who wrote (749)	3/26/1999 8:49:00 PM
From: WallStreetTips	Read Replies (1) \| Respond to of 4337

Steve >>> Your opinion on MINE & SLEU >> Both Web Portals MiningCo >>> MINE iSleuth >>> SLEU Also what do you think about PRFM >>> Deals with Yahoo and Microsoft. Thanks.

To: steve harmon - analyst who wrote (749)	3/26/1999 8:53:00 PM
From: Kelvin Taylor	Read Replies (1) \| Respond to of 4337

Steve: Any thoughts on SDTI? Makes money with PE of 25. SHRP? Also profitable and attractive PE @ 20. Thanks.

To: steve harmon - analyst who wrote (749)	3/27/1999 6:31:00 PM
From: Gurupup	Read Replies (1) \| Respond to of 4337

Steve, have enjoyed your work for a long time since joining Alan at MECK, your thoughts please on Onemain (ONEM). Thanks in advance.

To: steve harmon - analyst who wrote (749)	3/27/1999 7:20:00 PM
From: LABMAN	Read Replies (1) \| Respond to of 4337

Valley-Media VMIX issued an ipo on friday,customers include amazon ,cdnow , sales are exploding especially internet sales, where do you see this company going and do you think that this company is a takeover target, by amazon . SEC Filing- EDGAR Online VMIX Recent Filings: Dec 1998 (S-1 Filing) More filings for VMIX available from EDGAR Online \| Access real-time filings with EDGAR Online Premium December 21, 1998 VALLEY MEDIA INC (VMIX) S-1 Filing (SEC form S1) Valley Media, Inc. is the largest independent full-line distributor of music and video entertainment products in the United States. Our retail customers include BestBuy, CVS, Toys R Us and Trans World Entertainment as well as thousands of other retailers. In 1998, we distributed product to more than 6,000 retailers operating over 32,000 traditional storefronts. We also provide product, data and value-added services to more than 100 Internet music and video retailers including Amazon.com, CDnow, Inc., DVD Express and N2K Inc. Our advanced systems, technology and proprietary databases enable us to act as a partner to music and video suppliers and retailers in the $28.8 billion domestic music and video retail market. In fiscal 1998, we had net sales of $583.5 million. In the six months ended September 1998, we had net sales of $343.4 million. Valley has been a beneficiary of retailers' efforts to outsource certain of their distribution and purchasing functions. The music and video industries are offering, and consumers are demanding, a growing product selection from thousands of individual film studios and music labels. This demand for a larger variety of titles has been particularly illustrated by Internet retailers who differentiate themselves from traditional stores by advertising the breadth of their "virtual" selections. It is inefficient for many retailers to manage the large number of supplier relationships necessary to satisfy their customers. Accordingly, retailers turn to product aggregators such as Valley to simplify their own operations and reduce costs. We believe we differentiate ourselves by aggregating the deepest selection of music and video titles while simultaneously offering value-added systems, data and other capabilities. We aggregate and distribute product from all of the major labels and studios and thousands of independent labels and studios. We stock more than 245,000 different items, including CDs, video cassettes and DVDs. New Media, our Internet sales, support and data division, is our fastest growing business. Its revenues increased 520%, from $8.2 million to $51.1 million, in the six months ended September 1998 compared with the corresponding period of 1997. According to Forrester Research, domestic on-line sales of physical music and video product at retail are expected to grow from approximately $338 million in 1998 to $3.8 billion in 2003. Access to our extensive catalog is particularly valuable to on-line retailers as on-line customers tend to buy higher proportions of deep catalog titles relative to hits than do traditional shoppers. Our databases serve as an integral part of Internet retailers' product information and ordering systems. Most of our Internet customers also rely on a number of our other value-added services to outsource operating capabilities instead of making the substantial investment to build their own inventories and infrastructure. As a full-line distributor, we also play a key role in the delivery of music and video to traditional retailers. We serve customers ranging from independent stores to specialty chains to retailers who carry music and video product as an ancillary product line. For the independent stores, we are usually the primary or secondary supply source for most or all of their inventory needs. The large chains frequently have their own distribution centers to acquire product directly from the major labels and studios, but they generally stock only the higher velocity titles. Accordingly, we serve their special needs for deep catalog product, independent product, special orders and emergency replenishment. Our Independent Distribution Group leverages our strength in full-line distribution and provides Valley the opportunity for higher gross margin sales. This group provides marketing and logistical support to independent music labels through Distribution North America, an independent music distribution company. We intend to continue growing by exploiting the following opportunities: - continued rapid growth of music and video sales over the Internet - expected growth of DVD - increased demand for deep catalog music and video - cross-selling of music and video - industry consolidation We believe we can increase profitability and operating efficiency by leveraging our scale and market leading position to improve delivery times, lower costs and strengthen our partnerships with our suppliers and customers. Recent Filings: Dec 1998 (S-1 Filing) More filings for VMIX available from EDGAR Online EDGAR Online offers detailed company intelligence with Real Time SEC Filings, Full Search, People, Personal and more. Copyright © 1999 Yahoo! Inc. All Rights Reserved. See our Important Disclaimers and Legal Information. All Rights Reserved. Questions or Comments? lm