Wedbush Morgan Announces Investment Opinion: Wedbush Morgan Analysts Discover Pumatech Inc. Powering Synchronization for Yahoo!

Business Wire, Jan 12, 2001

Business Editors

NOTE TO EDITORS: The following is an investment opinion issued

by Wedbush Morgan

LOS ANGELES--(BUSINESS WIRE)--Jan. 12, 2001

Tech Analyst Reiterates Buy Rating for 12-Month Target of $17

Internet/Enabling Technology analysts at Wedbush Morgan Securities have learned that software produced by Pumatech Inc. is powering synchronization for Internet giant Yahoo!, reinforcing Wedbush's Buy rating of Pumatech.

"We believe this relationship with Yahoo! provides Pumatech with a large and high-profile customer," said Wedbush Morgan analyst Scott P. Sutherland. "With a registered base of 60 million active users -- many using Yahoo's personal productivity applications such as Yahoo! Calendar -- Pumatech may have landed a potentially lucrative customer."

"The product currently in Beta version `Intellisync for Yahoo! Beta,' however, we believe with Pumatech's expertise in synchronization the Beta will go smoothly and quickly lead to full implementation," Sutherland added.

Founded in 1993 San Jose-based Pumatech (Nasdaq:PUMA) is the leading provider of the software infrastructure for the mobile Internet, enabling consumers, mobile professionals and information technology officers to harness the full capabilities of handheld organizers, Web-enabled/cellular phones and other wireless personal communication platforms.

Sutherland said that Intellisync will be used to synchronize Yahoo! Address Book, Calendar, To Do List and Notepad with leading Personal Information Managers (PIMs), including Microsoft Outlook, Microsoft Outlook Express, Palm organizers, Lotus Organizer 5.0 and Symantec ACT.

The Internet-based version of Pumatech's Intellisync is an important part of the company's Mobile Application Platform (MAP) product that also enables website rendering and notification technologies, Sutherland added.

Wedbush Morgan Securities is headquartered in Los Angeles and is a member of the New York Stock Exchange and other principal exchanges. The firm provides a full array of corporate finance, research, trading, institutional sales, correspondent clearing and retail brokerage services.

The firm has offices in Los Angeles, San Diego, San Francisco, San Jose, Menlo Park, Gilroy, Newport Beach, Seattle, Aberdeen, Phoenix, Portland, Las Vegas, Eugene, Salem, Denver, Honolulu, Anchorage and Fairbanks, and institutional offices are in New York and Boston. The firm also provides securities transaction execution and clearing services to more than 1,000 investment executives and 125 correspondent brokerage firms nationwide.