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Microcap & Penny Stocks : LifeOne, Inc. (LONE) -- Ignore unavailable to you. Want to Upgrade?

To: Sam Matz who wrote (339)	4/16/1999 9:24:00 AM
From: Sam Matz	Read Replies (1) \| Respond to of 1834

Friday April 16, 8:49 am Eastern Time Company Press Release LifeOne Responds to Another Misleading Thomson Kernaghan Press Release NORTH BETHESDA, Md.--(BUSINESS WIRE)--April 16, 1999--LifeOne, Inc. (OTCBB:LONE) (the ''Company''), today described a recent press release issued by Thomson Kernaghan & Co., Ltd. (''Thomson'') as misleading and, the Company contends, issued with an expectation that the press release would further depress the price of the Company's common stock. LifeOne described the current Thomson press release as misleading in a number of ways, including that it creates the misimpression that Thomson's arbitration against LifeOne has resulted in some award against LifeOne, which is not the case. That arbitration remains pending. LifeOne further described the Thomson press release as misleading in its description of certain court proceedings between Thomson and LifeOne. LifeOne's position is that it has complied with court orders issued in these proceedings except to the extent it cannot do so because doing so would require it to violate one or more of the United States securities laws, United States bankruptcy laws or applicable state insurance laws. In this context, LifeOne has escrowed 4 million shares of LifeOne restricted common stock, but Thomson seeks to have the restrictions removed or to have LifeOne escrow unrestricted stock, which LifeOne maintains it cannot do, as described above. LifeOne also stated that its Vice Chairman and CFO, T. Brent Chapel is not a party to the proceedings in New York and he will continue, uninterrupted, to carry out his duties from the executive offices in Maryland. LifeOne also described Thomson's press release as misleading in that it suggests that the escrow account is maintained at Thomson. Such is not the case and the New York State Supreme Court has not ordered that any shares be deposited into any escrow account maintained at Thomson. Thomson is a defendant in a market manipulation case brought under the anti-fraud provisions of the federal securities laws by LifeOne and certain LifeOne shareholders. The complaint includes the violation of certain provisions of the Racketeer Influenced And Corrupt Organizations Act (RICO). That case, in which Thomson is accused of manipulating the market in and for LifeOne common stock by way of manipulative short sales, is pending in federal district court in Los Angeles, California. In that case, Thomson has failed or refused to produce documents, including in particular documents reflecting trading (including short sales) by it or its nominees of LifeOne common stock, even though Thomson is obligated to produce such documents. Contact: LifeOne, Inc., North Bethesda Brent Chapel, 301/984-0800