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To: Michaelste who wrote (74786)	5/12/1999 3:46:00 PM
From: stockvalinvestor	Read Replies (1) \| Respond to of 119973

PARA breaking news could be good for double or triple. Stock has float of only 2 million shares. News below: Paramount Financial Corporation's IT Subsidiary Reports Increased E-Commerce Activity JERICHO, N.Y., May 12 /PRNewswire/ -- Paramount Financial Corporation (Nasdaq: PARA - news), a comprehensive asset management and business solution provider, reported today that its network integration and Information Technology (IT) subsidiary, Paratech Resources, Inc., is experiencing increased activity in its e-commerce solutions and overall Internet business. Stated Paratech Executive Vice President and Chief Technology Officer Stuart Belloff, ''We're very excited about the growing demand for Paratech's Internet, Intranet and e-commerce solutions. Our e-commerce team is actively involved in web site development for various organizations including investment firms, manufacturers, and even the first true consumer online barter enterprise, as well as Sharex, an Internet Day-Trading site. Based on current market indicators, we expect our e-commerce business to experience continuing growth.'' Earlier this year, in March, the Company acquired a small, privately held Internet hosting and web site design firm, Web Business Systems, formerly of Farmingdale, NY. At the time, Paramount President and Chief Executive Officer Glenn Nortman indicated Paramount's goal and direction with respect to e-commerce. He said, ''The completion of this transaction solidifies our ability to provide complete Internet design, development and hosting services for Web Business' client base, as well as our existing clientele. In discussions with several of our clients, the advantage of a total Internet service provider has been viewed favorably as many prepare to implement their own electronic commerce solutions with the assistance of Paramount.'' Mr. Nortman continued, ''We are presently pursuing various other opportunities which would further broaden our organization's greater involvement in the Internet arena.'' Along with its heightened web site and e-commerce activity, Paratech is also implementing new projects requiring its systems support, network administration, Help Desk and telecommunications capabilities. Paratech Resources Inc. is also a re-seller, implementer and trainer of Great Plains Software products and Goldmine Software products, and is a Citrix Business Alliance Partner. Additionally, the Company is a 3Com and Microsoft Certified Solution Provider as well as a Novell Gold Partner. Paramount Financial Corporation is a business solution provider, offering customers a wide range of integrated services, including lease finance, IT consulting, network design and implementation, and staffing services. The Company's stock is traded on the Nasdaq stock exchange under the symbol PARA. Statements contained in this press release which are not historical facts are forward-looking statements. The forward-looking statements in this press release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements made herein contain a number of risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties include, but are not limited to, the specific factors impacting the Company's business, including increased competition; the availability of computer equipment; the ability of the Company to expand its operations and attract and retain qualified sales representatives experienced in the purchase, sale and lease of new and used computer equipment; the ability of the Company to attract and retain IT professionals skilled in specific applications; the ability of the Company to attract and retain qualified personnel in the legal staffing sector; technological obsolescence of the Company's portfolio of computer equipment; competition in the IT consulting sector and general economic conditions. SOURCE: Paramount Financial Corp