BancBoston Robertson Stephens Reiterates Strong Buy Rating on GMST.

SAN FRANCISCO--(BUSINESS WIRE)--Sept. 20, 1999--

BancBoston Robertson Stephens Internet analyst Michael Graham and managing director and senior Internet analyst Keith E. Benjamin today reiterated their Strong Buy rating on Gemstar International (NASDAQ:GMST).

Gemstar is a leading developer of proprietary technologies that simplify and enhance consumers' television viewing experience.

"We are reiterating our Strong Buy rating on Gemstar," said Graham and Benjamin. "We believe Gemstar's existing relationships with consumer-electronic manufacturers will help extend the company's reach into new platforms."

"In particular, Sony previously included Gemstar's EPG in televisions. Last week, Sony signed a deal with Cablevision to provide at least three million set-top boxes, which we believe will likely include Gemstar's EPG," said Graham and Benjamin. "We believe this places additional pressure on General Instrument to reach a deal with Gemstar in order to provide competitive boxes, a situation made potentially more urgent by Motorola's intended purchase of General Instrument."

"We continue to like Gemstar's risk/reward profile, with advertising revenue creating the potential for 5 times to 10 times upside to our estimates, while the company's core licensing business provides some downside protection," said Graham and Benjamin.

Clients interested in receiving more information should contact their salesperson at 415/781-9700 or visit our web-site at www.internetstocks.com.

BancBoston Robertson Stephens is the leading full-service investment bank focused exclusively on growth companies. For the first half of 1999, the firm completed over 100 offerings, raising more than $15 billion in capital for clients and is the leading investment bank for Internet M&A transactions. The firm's 45 research analysts cover nearly 700 companies.

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