FOR IMMEDIATE RELEASE
July 7, 1999
FOURTEEN HILL CAPITAL, L.P.
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ANNOUNCES SECOND QUARTER FINANCINGS
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SAN FRANCISCO-(July 7, 1999) Fourteen Hill Capital, L.P., a majority owned
affiliate of Point West Capital Corporation (which trades on NASDAQ under the
symbol PWCC) today announced that, during the second quarter of 1999, it closed
three financings.
Fourteen Hill purchased $250,000 of convertible preferred stock of
Redem Corporation (www.redem.com), and committed to purchasing up to an
additional $500,000 of convertible preferred stock, subject to certain
performance requirements. Redem is a manufacturer and worldwide marketer of
auto-catalysts, and its technology is currently being tested by several major
auto manufacturers. Its breakthrough technology uses 30-70% less precious metals
than existing designs, and provides superior performance. In addition, it is
lead tolerant and works with diesel engines.
Fourteen Hill purchased in a private placement $1,350,000 of common
stock of quepasa.com, inc. (www.quepasa.com) Quepasa.com is a Spanish-language
Internet portal and online community focused initially on the U.S. Hispanic
market. Its board members include L. William Seidman, former chairman of the
Resolution Trust Corporation and of the Federal Deposit Insurance Corporation,
and Jose Maria Figueres, who served as the elected President of Costa Rica from
1994 to 1998. In June 1999
quepasa.com, inc. consummated its initial public offering, and trades under
the symbol PASA on NASDAQ.
Fourteen Hill also purchased in a private placement $750,000 of common
stock of N2H2, Inc. (www.N2H2.com). N2H2 is a leading provider of Internet
content filtering services to schools. It also provides these services to homes,
corporations and other organizations. It currently provides filtering services
to approximately 7.3 million students in approximately 8,000 schools in the
United States and Canada, including most of the public schools in Ohio,
Tennessee, Maine, Oklahoma and Wisconsin, as well as school systems in areas
such as Los Angeles County, Baltimore, Boston, Calgary, Seattle, Stockton and
Tampa. In May 1999 N2H2 filed a registration statement with the SEC for an
initial public offering and has applied with NASDAQ for trading under the symbol
NTWO.
Also, in connection with a $250,000 loan previously made to
Homeseekers.com, Inc. (HMSK), Fourteen Hill received from HMSK a warrant to
purchase 50,000 shares of common stock of HMSK at $2 15/32 per share.
Fourteen Hill is a Small Business Investment Company licensed by the
Small Business Administration. Fourteen Hill provides capital to small
businesses (generally businesses whose tangible net worth does not exceed $18
million and whose average net income during the preceding two years did not
exceed $6
million) whose primary businesses are located in the United States.
Additional information about Fourteen Hill Capital is available on the
company's Web site, http://www.fourteenhill.com, or by calling 415-394-9467.
(KEYWORD CALIFORNIA AND INDUSTRY KEYWORD: Venture Capital, Internet).
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CONTACTS: FOURTEEN HILL CAPITAL, SAN FRANCISCO.
CHRIS RODSKOG, 415/394-9467
cpr@pointwestcapital.com