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Microcap & Penny Stocks : Tokyo Joe's Cafe / Societe Anonyme/No Pennies -- Ignore unavailable to you. Want to Upgrade?

To: Danny Song who wrote (73973)	5/7/1999 11:13:00 AM
From: reikjavic	Respond to of 119973

SIEB news May 07, 1999 11:06 Siebert Financial Corp. Inks Merger Agreement with Andrew Peck & Associates, Inc.; Deal Anticipated To Add 20% to Siebert Commission Revenues Jump to first matched term NEW YORK, May 7 /PRNewswire/ -- Siebert Financial Corp. (Nasdaq: SIEB) today announced the signing of a definitive merger agreement between its subsidiary, Muriel Siebert & Co., Inc. and the discount brokerage firm, Andrew Peck Associates, Inc. (Peck), a privately held firm headquartered in Jersey City, New Jersey. The merger is expected to add approximately 20% to Siebert's commission revenues and to be immediately accretive to Siebert's earnings per share. The shareholders of Peck will receive 600,000 shares of Siebert's common stock in exchange for 100% of the stock of Peck. The merger will be accounted for as a pooling of interests and is expected to close by the end of May. As previously announced, all of Peck's principals and employees will join the Siebert organization. According to Muriel Siebert, Chairwoman and President of Siebert Financial Corporation, "Peck's management will have a significant role in Siebert's growth plans." "My team and I are looking forward to the opportunities for growth that a merger with Siebert will offer," said Peter Sosnowski, President and CEO of Andrew Peck & Associates. "Our client base will have access to the extensive array of investment products and services, particularly the cutting-edge technology and best-of-class service that Siebert consistently offers its customers," he added. Siebert Financial Corp. is a holding company which conducts all of its discount brokerage operations through its wholly-owned subsidiary, Muriel Siebert & Co., Inc. A member of the New York Stock Exchange, Siebert was one of the first stock brokerage firms in the U.S. to adopt a discounted commission schedule on May 1, 1975 when discounting was first permitted. Siebert conducts its municipal investment banking activities through Siebert, Brandford, Shank & Co., LLC, a separate subsidiary specializing in municipal and other fixed income underwriting and financial advisory services. Siebert is based in New York City with additional retail branches in Boca Raton, Palm Beach, Surfside and Naples, FL; Beverly Hills, CA and Morristown, NJ. In addition, Siebert, Brandford, Shank & Co. has offices in New York City, San Francisco, Los Angeles, Seattle, Houston, Chicago, Detroit and Dallas. Note: This press release may contain forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995, regarding Siebert Financial Corp. Actual events or results may differ materially from those indicated by such forward-looking statements due to a number of known and unknown risks and uncertainties. SOURCE Siebert Financial Corp. /CONTACT: Muriel F. Siebert of Muriel Siebert & Co., Inc., 212-644-2418; or Billee Howard of Shandwick, 212-591-9823/ /Web site: shandwick.com (SIEB)

To: Danny Song who wrote (73973)	5/7/1999 12:29:00 PM
From: InvestLady	Read Replies (1) \| Respond to of 119973

Agree with you about INLD, definitely undervalued and a good take-over target for a bigger gaming company. Overall, the industry has received good play this week. Any sustained buying will bring this stock up as fast as MGAM, if not quicker. Heads up for SCIO, possible positive news early next week concerning FDA non-approval of their lead drug. Stock knocked down from high last week, holding well at this level. I noticed many buys yesterday and took a small position, if buying continues as it is will add later. Good Luck, do your own DD and for all mothers, Happy Mother's Day!!