IRI's Public Analyis & Review PAR Program Announces Analyst Initiates Coverage, Assigns ALYA Speculative Buy, Target $1.50.

NEW YORK--(BUSINESS WIRE)--Sept. 23, 1998--Public Analysis & Review (PAR), the unique professional independent analyst program administered by the non-profit Investors Research Institute, Inc., announces that Gerald F. LaKarnafeaux, CFA, professional analyst qualified in the PAR program, has initiated coverage of ALYA International, Inc. (OTCBB:ALYA), and has assigned the company -- which is enrolled in the PAR program along with Mortgage Bankers Holding Corporation (OTCBB:MBHC), LifeOne, Inc. (OTCBB:LONE) Remington Hall Capital Corp. (OTCBB:REMH), American Pacific Financial Services (OTCBB:AMPA) and Planet City Software, Inc. OTCBB:PINC) -- a "speculative buy" rating, with a 12-month target of $1.50, assuming full dilution.

A summary of the report follows. PAR has authorized the company to post the full report, including disclaimers which should be read before investing, at 10:30 a.m. ET today at http://www.alya.com/s/Default.asp?o2=i , and an e-mailed copy may be obtained upon request from [e-mail] .

Date of Report: 9/23/98 Shares Outstanding: 14,300,914 (fully diluted) Stock Price: $0.70 Estimated Float: 6,664,134 Price Range: (latest 12 months) $0.21 to $1.65 Recommendation: Speculative Buy Industry Sector: Building Control Systems Target Price: (12Mos): $1.50

ALYA International, Inc. develops and markets advanced building access control and security systems that are interoperable with other building control systems. The Company is partnering with Motorola in the development and marketing of interoperable systems that utilize LonWorks technology. LonWorks is a communication protocol that is dramatically changing the structure of the building and process control industries. ALYA's LonWorks base access control and security system has no competitors with interoperable capability.

ALYA has been in the development stage since its formation in September 1995 until January of this year when the Company introduced its first product, O.P.E.N.centrix. The product is an interoperable access control system that is bundled with Motorola's card reader. Motorola also makes the nueron chip that controls the LonWorks communication software as well as the ALYA software.

Since the introduction of the Centrix, the Company has been building a world wide distribution network of building control integrators. Twelve distributors have signed on and another eight are expected to be signed by calendar year end. It is estimated that these distributors will generate $10.0 million in sales in the fiscal year ending September 30, 1999. In twelve months, the fully diluted capital share structure could include approximately 16,5000,000 common shares. A market cap of $20.0 million (2.5 times sales of $10.0 million) results in a price of $1.50 per share. We conclude that the risk-reward relationship is a favorable one for speculators.

ALYA is assigned a "speculative buy" rating with a 12-month target of $1.50.

Gerald F. LaKarnafeaux, CFA, has held senior positions in international and regional investment banking firms as a securities analyst, portfolio manager and director of corporate finance during the past 30 years. He has been an active member and officer of regional chapters of The Financial Analyst Society, The Corporate Finance Council and The American Society of Appraisers.

Public Analysis & Review (PAR) is a program of the Investors Research Institute, Inc. (IRI), a non-profit membership organization for individual investors and others advocating higher standards of "accessibility", "scrutiny" and "disclosure" for public companies, administered by IRI, Inc. (IRIK), a public company in registration. Continuing quarterly coverage by an independent analyst is a requirement to meet the "scrutiny" requirements for the 'Elite' Seal of Best Practices in Investor Relations standard described on the organization's website at http://www.investorsresearch.org . If a company has no independent analyst following, this requirement may be satisfied by enrollment in PAR or any similar program. By policy, analysts, directors, officers and administrative personnel associated with IRI and the PAR program are not permitted to own or trade in any of the equities under review.

Information, opinions or recommendations contained in this report or study are submitted solely for advisory and information purposes. This report or study is not intended as an offering or a solicitation of an offer to buy or sell the securities mentioned or discussed.

C. Partridge (212-484-4747)

[e-mail]

Interested companies should write: [e-mail]

http://www.investorsresearch.org

Dale Paruk (888-595-6444)

[e-mail] ; [e-mail]

http://www.alya.com

Gerald F. LaKarnafeaux, CFA (619-278-2392)

[e-mail]

To view or receive the full report:

http://www.alya.com/s/Default.asp?o2=i

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