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Non-Tech : London Pacific Group - LPGL doubles... -- Ignore unavailable to you. Want to Upgrade?

To: rupert1 who wrote (220)	4/19/1999 7:26:00 AM
From: rupert1	Read Replies (2) \| Respond to of 737

I had never heard of Steve Harmon until a few minutes ago. I looked back on his site. I am not impressed by the level of his analysis of LPGLY. He seems to believe that LPGLY being a "British" company is important. LPGLY is not a British comapny. It is registered in the Channel Islands to escape British taxation. It is owned and operated by Americans. Its main business is in the States as are its operational offices. It has a listing on the LSE with nominal trading volume. I suspect that this was done in order to get easier access unto the NASDAQ through the back door as an ADR. ____________________________ Message 8957368 Steve Harmon london pacific - while i like the firm's rev/income it's not as easy as speculating that this is a uk- "cmgi" in the making #1 london pac have to prove themselves #2 liquidity for their internet investments is not a given #3 the london stock exchanges are not easy for u.s. investors to navigate #4 venture capital in the uk is scarce, putting pressure on london pac to finance startups from garage (pronounced "gurrage" in brit talk) to high street i've done my investment conferences in the uk and know the landscape well there there is a lot of raw talent in the uk but the finance machine that exists in the states doesn't exist in the uk __________________________________ My comments on Steve's notes: #3 The stock typically trades 15-40,000 shares in the UK. Divide that by 4 to get the US ADR equivalent. The price is set by the US ADR on the NASDAQ. Why would a US citizen want to trade in London? #4 He missed the point again. LPGLY does not invest in UK companies, but in US companies, by and large. It does not invest in "garage start-ups" but in late stage ventures prior to their IPO. UK has a different approach to venture capital than the US - but that discussion is irrelevant for LPGLY. The Brits do not pronounce "garage" as "gurrage". Received English pronounces it like the French with a long "Ah"; regional accents with a hard "a".

To: rupert1 who wrote (220)	4/19/1999 7:32:00 AM
From: rupert1	Read Replies (1) \| Respond to of 737

Investment Within London Pacific Life & Annuity Company PR Newswire - April 19, 1999 07:19 LONDON, April 19 /PRNewswire/ -- The Company is pleased to announce the following concerning investments held within its insurance subsidiary, London Pacific Life & Annuity Company (Nasdaq: LPGLY): 1. Ramp Networks (RAMP), a provider of Internet access devices, registered for its initial public offering (IPO) on Friday, 16th April 1999. 2. Net Perceptions (NETP), a leading marketing solutions provider to real time Internet retailers, has earlier registered for its IPO and is expected to price its offering this week. 3. Net Gravity (NETG) is currently a public holding which completed its IPO last year. 4. The Company will in the future announce registration of holdings and the completion of offerings. Details of the above registration filings may be found on the SEC website for EDGAR filings www.sec.gov. The symbol for London Pacific Group Limited's Nasdaq stock quote will be changed from LPGLY to LPGL from the close of business today, Monday 19th April 1999. R. W. Green Company Secretary For additional information contact Ian Whitehead, Chief Financial Officer, telephone number: 916-641-4220 in the United States, or visit our venture capital website at www.berkeleyvc.com. SOURCE London Pacific Life & Annuity Company /CONTACT: Ian Whitehead, Chief Financial Officer, 916-641-4220/