NEWS RELEASE
AT MARKET GUIDE
Homi M. Byramji
President & CEO
(516) 327-2400 ext. 101
FOR IMMEDIATE RELEASE
MARKET GUIDE COMPLETES STOCK PRIVATE PLACEMENT
NASDAQ FILING TO BE FINALIZED
Lake Success, New York, January 27, 1997 --- Market Guide Inc. (OTC
Bulletin Board: MARG), today announced completion of a private
placement sale of 343,363 shares of restricted common stock at a
price of $3.50 per share to a limited number of institutional and
qualified individual investors. Proceeds of the offering totaled
$1,201,771.
Market Guide managed and conducted the successful private placement
without third party assistance. This has resulted in the entire
proceeds of the sales accruing to the Company. Under the rules of
the Securities and Exchange Commission, the purchasers of the
Company's restricted stock must hold their shares for a minimum
period of two years before the shares can be publicly sold.
The company intends to use the proceeds of the private placement
offering to expand its data collection operations, and to increase
sales and marketing activities in order to accelerate its growth.
The increase in equity resulting from the sale of common stock will
enable the company to meet the Nasdaq Stock Market's requirements
for "Small Cap" listing, according to Market Guide Chairman and
General Counsel John D. Case. Case also stated that the Nasdaq
listing application will be submitted by February 3, 1997.
Homi. M. Byramji, President & CEO, said, "Our company has raised
capital from private investors on two prior occasions over the past
eight years. Each time the Company has used the money we raised to
provide solid positive results, and increased value for our
shareholders. Repeat participation from several investors who
participated in earlier private placements is a very positive
endorsement of our accomplishments and a vote of confidence in our
plans for the future. Additionally, I am pleased to welcome
several new investors as shareholders."
Market Guide, Inc. compiles a high quality database containing
descriptive and financial information on over 8,900 publicly traded
US and foreign companies. The database contains detailed current
and historical financial information, descriptive information about
the company's business, summary institutional ownership, capital
structure and insider trading statistics, short interest
information, historical stock prices and over five hundred
financial ratios. Market Guide markets its database directly
through its Market Guide for Windows product line and through a
variety of services on the Internet. The company also distributes
data through over 35 leading vendors in the professional and
individual investor markets.
