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EHRENKRANTZ ISSUES 'BUY' RECOMMENDATION ON NETWORK FINANCIAL SERVICES

 NEW YORK, Nov. 1 /PRNewswire/ -- Ehrenkrantz King Nussbaum, Inc. issued a "buy" recommendation on Network Financial Services, Inc. (NASDAQ: NETW) and added the stock to its "Undiscovered Equities" list.
 In a preliminary report, analyst and partner Louis Ehrenkrantz wrote: "We are initiating coverage of Network Financial Services, Inc. with a 'buy' rating. This modestly priced equity trades in relative obscurity in the OTC Market and fits well into our 'Undiscovered Equity' category. NETW is suitable for aggressive accounts seeking substantial capital appreciation.
 "'Undiscovered Equities' represents a universe of speculative stocks that we believe to be undervalued and underfollowed by the investment community. Other companies in this group include International Imaging Materials Inc. (NASDAQ: IMAK), Del Electronics Corp. (ASE: DEL), Just Toys Inc. (NASDAQ: JUST), and American Medical Alert Corp. (NASDAQ: AMAC).
 "Network is the largest franchisee in the ERA real estate organization, with 31 offices in Northern California and more than 340 real estate agents and employees. More importantly, however, is Network's strategy. Network is building the nation's first integrated 'one-stop shopping' service for residential homes, mortgage financing, homeowners insurance and home care services. The resulting transactions simplify the process and reduce the time needed to complete the purchase of a home, thus saving the buyer time as well as money.
 "Although Network is located in California, recent developments on the technological front indicate the possibility of Network becoming a national factor. Recently, Network began marketing the first computer software system that will enable Realtors across the country to access Network's 'one-stop shopping' on-line. We believe Realtors who use the system will be able to save their customers time and money in buying homes and securing mortgages and insurance while, at the same time, channelling business on a low-cost basis to Network's mortgage and insurance units. Moreover, we believe this kind of software/on-line service has the potential to revolutionize the way the home real estate industry works, similar to the way electronic links have revolutionized other industries and companies.
 "While the investment community is disappointed by Network's year-end figures and first quarter indications, the shortfall in earnings and balance sheet clean-up should be the last of the disappointments for some time. In our complete report, due early November, we will explain in detail the reasons for our optimism for 1994 and beyond."
 -0- 11/1/93
 /CONTACT: Louis Ehrenkrantz, partner of Ehrenkrantz King Nussbaum, Inc., 212-407-0575 or 800-867-8600; or Gary Fishman and Kiersten Wolf of The Hudson Stone Group, 212-983-8550/
 (NETW)


CO: Network Financial Services, Inc. ST: California IN: SU: RTG

PS -- NY012 -- 8948 11/01/93 08:04 EST
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Date:Nov 1, 1993
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