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Non-Tech : NetBank(NTBK)-formerly Atlanta Internet Bank -- Ignore unavailable to you. Want to Upgrade?

To: Andrew G. who wrote (1400)	4/12/1999 11:41:00 AM
From: AugustWest	Respond to of 2414

did someone say stock split? Net.B@nk CEO Tells StockHouse.com that Depositor Growth is Running At a Pace of 51% Above Expectations; Hints at Stock Split SARASOTA, Fla., April 12 /PRNewswire/ -- Net.B@nk (Nasdaq: NTBK - news) Chief Executive and Vice Chairman D.R. Grimes told StockHouse.com in a featured interview that depositor growth at the country's largest federally insured Internet banking company is growing 51% faster than earlier company and analyst estimates. He told StockHouse.com, ''Well, at the pace we're going now, it'll be about, you know, 55,000.'' When pressed on justifying this new estimate, Mr. Grimes explained, ''If I added 3,300 accounts last month, right? I've got nine more months left this year, right? So if you do the math, that'd be 29,000. And I'm sitting at a little over 24,000. So, maybe 53,000. I'm just giving you a rough number ... I'm simply saying that if we continue to grow at the rate we grew last month, we're looking at an obviously much bigger number. So even if you took those numbers and added them together, you would still be looking at a number much above the 35,000 that we had been projecting.'' Later, Mr. Grimes again confirmed that the pace of depositor growth was running at ''18,000 more than the 35,000 projection.'' When asked about a stock split, Grimes told StockHouse.com, ''We do have a shareholder's meeting coming up, don't we?'' StockHouse.com also interviewed Bear Stearns banking analyst Sean Ryan about Net.B@nk, who said the original depositor projections ''might even be conservative,'' and added, ''I've never seen a bank grow this quickly.'' In a separate interview with Raymond James analyst Richard Bove was asked about a possible stock split in Net.B@nk shares. Bove said he ''assumed a split makes a lot of sense.'' Both analysts maintain their BUY rating on Net.B@nk, while Sean Ryan admitted, ''We need to do something'' about the price target, which has since been eclipsed. To view the entire interview, visit www.stockhouse.com StockHouse Media Corporation is an Internet financial media information service company providing breaking news about North American stocks via their Internet publication, StockHouse.com. With over one-half million visitors per month, StockHouse has emerged as a leading, online, global financial content provider. A subsidiary, StockHouse Canada is the #1 Canadian financial website, where an estimated 11% of Canadian online investors conduct investment research. StockHouse maintains offices in the United States of America, Canada, and Australia. Media Contact: Hilary Chiba, of StockHouse Media Corporation, 941-365-5719, or hchiba@stockhouse.com Web Site: http//www.stockhouse.com SOURCE: StockHouse Media Group --------------------------------------------------------------------------------