Investrend Research Announces Investment Opinions

Business Wire, June 1, 2001

Business Editors

NOTE TO EDITORS: The following is an investment opinion issued

by Investrend Research

NEW YORK--(BUSINESS WIRE)--June 1, 2001

Investrend Research Issues Weekly Research Summary

Investrend Research analysts this week issued research reports or research notes on the following companies under its continuing analyst research program. The complete report or research note, as well as all other current and previously published research reports and analyst notes on all of the companies we cover can be accessed at no cost at www.investrend.com. Investrend also provides periodic commentaries and summaries of its research by email, with signup on our website whose address is above.

AVI BioPharma (NASDAQ: AVII) Research Note by Sherry Grisewood, CFA ------------------------------------------------------------------- 12 Month Stock Target Price Raised to $12-$14 from $8-$10.

AVI has announced the initiation of an exclusive worldwide licensing agreement with Medtronic, Inc. (MDT-NYSE) for a family of antisense compounds, including Resten-NG, currently in Phase II trials for retenosis. The Medtronic Agreement calls for an initial equity investment of $10 million and contains potential milestone, option elections and other considerations which investment could eventually approach $100 million. With its two lead products now partnered, AVI will be able to focus resources on promising back pipeline areas such as its antisense metabolic redirector, AVI-4557. AVI also announced the initiation of a Phase I/II clinical study for its Oncomyc-NG antisense compound as an anti-cancer treatment.

AdStar.com (NASDAQ: ADST) Update Report by Scott Hood, CFA ------------------------------------------------------------------- 12 Month Stock Target Price Maintained at $1.90.

AdStar has announced their intention to focus on short-term revenue growth and profitability. We maintain our Speculative Buy rating. AdStar appears to have developed a successful marketing approach for their software as an application service provider generating recurring monthly fees rather than per-transaction fees. In May, AdStar announced a contract with eBay to provide AdStar software for the new eBay Sellers Classifieds. EBay Sellers Classifieds allows users to advertise items in an eBay branded sellers section of newspaper classifieds. With the conversion of $1,186,965 of principal and accrued interest to equity, the balance sheet is debt free.

World Gaming Plc. (OTCBB: WGMGY) Research Report By John M. Dutton -------------------------------------------------------------------

Starnet Communications under its new CEO Mike Aymong announced today that its reincorporation in the UK is now effective under the name World Gaming Plc. with its new ADR shares trading in the OTCBB market. High margins and high revenue growth has allowed World Gaming Plc, one of three leading I-Gaming software suppliers, to claw its way back to close to profitability. Based on comparable company operating margins, World Gaming Plc can reduce its total expenses another 20% as a percent of revenues, or alternatively, expenses from here should grow at a rate substantially less than that of sales. The pieces of World Gaming are worth significantly more than the market cap accorded the company presently. The Company's sports book operations, provided through its licensees, is by size one of the majors in the second tier. We rate the ADRs of World Gaming Plc a strong speculative buy for accounts with high-risk tolerance.

AutoTradeCenter.com, Inc (AUTC) Research Note by Gary N. Clark, PhD., CFA ----------------------------------------------------------------------

Adding to its customer base of American Honda Finance and Volvo Finance, AUTC introduced PRO for Suzuki. Now, Suzuki dealers through PRO will have access to this flow of inventory from turn-ins at 22 return centers across the nation. Suzuki dealers have access to a broader range of nearly new Suzukis to offer to their customers, while American Suzuki has a way to realize more for used program vehicles and to support resale values of Suzukis, and to lease more new cars.

Delta Apparel (AMEX: DLA): Classic Undervalued Stock Poised for Appreciation: An Initial Report by Gary N. Clark, PhD., CFA ----------------------------------------------------------------------

12 Month Price Target Set of $34 vs. current price of $16.25.

Prior lack of credible research coverage creates opportunity for investors looking for highly undervalued quality company. Delta's shares sell at only 3.7x our forecast 2001 earnings per share of $4.24, and the Company's $39.7 million market capitalization is less than 63% of its $60.7 million book value. Delta's current market cap is a bargain .3x its expected 2001 record revenues of $128 million. Operating margins have increased to 20.7% in the most recent quarter, up from 18.2% in the prior year. The recent spin off of Delta, coupled with no research coverage prior to Investrend, makes the research report on this high quality leading T-shirt manufacturer a must read. EBT are forecast to record a strong double-digit growth each year, while the Company will not report EPS growth next year as its effective tax rate increases, but EPS should increase to $4.80 (fully taxed) in 2003 from $4.24 in 2001.