October 10, 2000 06:05am
Private Media Group - A BUY Rating and Current Fair Value of $10.41 Going to $12.59 in 12 Months
Source: Private Media Group Inc.
by: Company Press Release
(BARCELONA, Spain)-- Private Media Group Inc. (Nasdaq: PRVT - news) worldwide leader in premium-quality adult entertainment products, services and Internet content, today announced that Ladenburg Thalmann, the investment banking and brokerage firm, has initiated coverage of its stock.
``We are initiating coverage of Private Media Group with a short term BUY and a long term BUY rating and a current risk-adjusted fair value of $10.41 per share, increasing to $12.59 by mid-year 2001. This represents equity appreciation of 99.5% from present levels. We believe the company will become a dominant player and catalystic consolidator in its industry while maintaining to post solid financial results,'' say the analysts of Ladenburg Thalmann.
According to Zacks Investment Research, Ladenburg Thalmann outperformed the United States top 15 brokerage firms in stock picks for 1999.
Founded in 1876 and a NYSE member since 1879, Ladenburg Thalmann is a full service investment banking and brokerage firm based in New York, with regional offices in Great Neck, New York, Los Angeles, California, Boca Raton, Florida and Cleveland, Ohio. In addition to being a member of the NYSE, Ladenburg Thalmann is a member of the NASD, SIPC and all other principal exchanges.
The leading publicly-quoted adult entertainment company in the world, Private Media Group Inc., is the founder of the globally established brand name 'Private' and has positioned itself in the marketplace with a visionary management strategy that combines both New Economy (Internet, multimedia, e-commerce) and Old Economy (videos, magazines) business models. Maintaining a total adult lifestyle philosophy, this is reflected in the Company's broad range of products and services, both proprietary and licensed, and its strategic policies of development, diversification and acquisition.
For more information, visit the Company's corporate Web site at www.prvt. com.
For Ladenburg Thalmann's report, please go to the following link: http://www.PRVT. com/flash/reports.asp.
This release contains, in addition to historical information, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which reflect the Company's current judgments of those issues. However, because those statements are forward-looking and apply to future events, they are subject to such risks and uncertainties, which could lead to results materially different than anticipated by the Company.
For further information, please contact: In Barcelona, Spain: Johan Gillborg of Private Media Group Inc., +34-93-590-7070, johan@milcap.es; or In London, England: Adam Reynolds of Hansard Communications.Com,
+44-207-840-7782, adam.hansard@clsholdings.com.
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