Taglich Brothers Announces Investment Opinion on Phoenix Gold International, Inc

Business Wire, Nov 29, 2000

Business/Technology Editors

NOTE TO EDITORS: The following is an investment opinion issued

by Taglich Brothers

NEW YORK--(BUSINESS WIRE)--Nov. 29, 2000

Taglich Brothers Starts Phoenix Gold International, Inc. (NASDAQ SC:

PGLD) as Speculative Buy

Taglich Brothers, Inc. has initiated coverage of Phoenix Gold International, Inc. (NASDAQ SC: PGLD; recent price $1.52) with a speculative buy rating and a 12 -24 month price target of $1.90 to $2.30 per share.

Phoenix Gold International, Inc. designs, markets and sells innovative, high quality and high performance electronics, accessories and speakers to the audio market. The Company's products are used in the car audio aftermarket, professional sound and custom audio/video and home theater applications.

Taglich Brothers anticipates Phoenix Gold will remain profitable in the current fiscal year as operating efficiencies implemented over a year ago have helped offset the weakness in international markets. Sales of car audio systems have benefited from the recent growth in sales of car video systems since when a video system is sold, audio equipment is sold along with it. The Company exhibits a strong balance sheet with no debt and a book value of $3.75 per share. We anticipate top and bottom line growth of approximately five percent looking into fiscal 2002 once international markets start to recover.

Taglich Brothers, Inc., founded in 1992, is full-service broker dealer focused exclusively on micro-cap companies. The Company defines the micro-cap segment of the equity market as companies with less than $250 million in market capitalization. Taglich Brothers, Inc. currently offers institutional brokerage services, investment banking for publicly traded micro-cap companies and comprehensive research coverage to the investment community. In December 1999, the Company launched its Website http://www.taglichbrothers.com to allow investors free access to its in-depth research on micro-cap companies.

Additional information is available upon request or on our website at http://www.taglichbrothers.com.

The information and statistical data contained herein have been obtained from sources which we believe to be reliable but in no way are warranted by us as to accuracy or completeness. We do not undertake to advise you as to change in figures or our views. This is not a solicitation of any order to buy or sell. We, our affiliates, and any officer, director or stockholder, or any member of their families may have a position in and may from time to time purchase or sell any of the above-mentioned or related securities. The Company mentioned in this report may from time to time be involved in an investment banking relationship with Taglich Brothers, Inc., or may pay a monthly fee for maintenance of our website. Details of any such relationship or compensation agreements are available upon request. The above statement is the opinion of Taglich Brothers, Inc. and is not a guarantee that the target price for the stock will be met or that predicted business results for the company will occur.