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

To: Mariah Smyth who wrote (74300)	5/10/1999 2:45:00 PM
From: Lupus	Read Replies (3) \| Respond to of 119973

FNHC and XMCM possible portal deal...PR below Dow Jones News Service(Copyright (c) 1999, Dow Jones & Company, Inc.) NEW YORK (Dow Jones)--Finet Holdings Corp.'s (FNHC) shares rose more than 20% Monday after direct marketer Xoom.com Inc.'s (XMCM) Web site featured a hot link to the Web site of Finet's Interloan.com unit, according to Finet's president. "Interloan.com's button has popped up on Xoom.com's site and people are wondering, 'Is this a portal deal?"' Finet President Daniel Rawitchsaid. But he declined to answer that question, or even whether theagreement with Xoom.com is in fact a portal agreement, saying: "We expect to follow this (link) with an announcement in the near term." A portal deal would involve Finet owning a piece of Xoom.com's Webpage. Rawitch said that a deal with Xoom.com would launch the company's efforts to start "branding" its services, and investors are excited by the prospects of increased visibility for Finet. Thus far, Finet which develops and operates online home buying and mortgage loan application services, has limited its dealings to business-to-business type transactions and Interloan.com's link to Xoom.com will draw more individual customer traffic to its Web site, Rawitch explained. "Finet has been negotiating for more Internet traffic," and is interested in achieving "brand-name" for its services, he said. The Interloan.com retail site allows users to select mortgageprograms from lenders, and will be the first of Finet's units to draw direct consumer-to-business type traffic through its link with Xoom.com. Other units to follow suit in Finet's move toward branding-naming its services include the iQualify.com unit, Rawitch said. Rawitch also attributed Xoom.com's shares rise to positive news on Xoom.com itself. Monday, General Electric Co.'s (GE) NBC network saidit plans to merge several of its Internet assets with Xoom.com and portal site Snap.com to form a new company called NBC Internet, or NBCi. Finet shares recently traded up 1 9/16, or 20.8%, to 8 29/32 onvolume of 3.6 million shares, compared with an average daily volume of 3.6million. Xoom.com recently shares rose 7, or 9.3%, to 82 1/8 on volume of 2.81 million shares, compared with an average daily volume of 756,800. -Zahida Hafeez (201) 938-5176 (END) DOW JONES NEWS 05-10-99 02:02 PM