NEW YORK TIMES CITES DAG MEDIA
NEW YORK, Sept. 23 /PRNewswire/ -- DAG Media Inc. (Nasdaq: DAGM), the leading independent print and on-line publisher of yellow page directories, including the highly successful Jewish Israeli Yellow Pages, was cited in The New York Times (9/19/99) as one of nine (out of 49) Internet companies that went public in 1999 with positive cash flow. The article, "Cash is Tool in Gauging IPO Health," reviewed IPO offerings as investment opportunities.
DAG Media also noted that the company is on target to purchase up to 150,000 of its Common Shares over the next 12 months. Since it made the announcement on August 9, 1999, the company has repurchased approximately 40,000 shares. "The company's positive cash allows us to pursue this aggressive investment option," said Assaf Ran, founder and president, of DAG Media. "We are putting our company's funds to use in the best way possible which ultimately allows us more freedom to execute our original business goals, while pursuing new strategies."
DAG Media is a leading independent print and on-line publisher of yellow page directories, including the New Yellow, a general interest yellow page directory that is challenging the monopoly of the Bell Atlantic Yellow Pages in the New York market. The company plans to offer telephone directories in Queens and the city's other boroughs in 2000, and Ran anticipates directory expansion into other major East Coast markets in 2001. DAG Media directories are published on the Internet at http://www.porty.com.
SOURCE DAG Media, Inc. -0- 09/23/1999 /CONTACT: Lori Rosen, 212-255-8455, for DAG Media/ /Web site: http://www.porty.com/ (DAGM)
CO: DAG Media, Inc. ST: New York IN: PUB FIN SU:
-0- Sep/23/1999 10:01 EOS (PRN) Sep/23/1999 10:01 197 -0- (PRN) Sep/23/1999 10:15
NYSE/AMEX delayed 20 min. NASDAQ delayed 15 min.