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Date Posted: 11:41:05 02/19/00 Sat
Author: warren
Subject: Hi Jay,

I've liked IFCI for a while.I noticed IFCI when it was trading around the $6-7 range and even posted several times
on EFNT 2 back then.Another stock I posted way back and now
has grown up is NTRX.Here's one for you...NVXE(pure speculation).

Thursday February 17, 10:55 am Eastern Time

Company Press Release

SOURCE: New Visual Entertainment, Inc.

New Visual Entertainment, Inc. and New Wheel
Technology, Inc. Complete Merger; Company to
Develop High Speed Broadband Transmission Technology

SAN DIEGO, Feb. 17 /PRNewswire/ -- New Visual Entertainment, Inc. (OTC Bulletin Board: NVXE - news) announced today
that it has completed the acquisition of New Wheel Technology, Inc., a privately held company based in Pleasanton, California
(``New Wheel''). New Wheel was merged with the Company's Astounding Acquisition Corp. subsidiary, which will operate under
the New Wheel name. In consideration of the merger, the stockholders of New Wheel will receive 2,000,000 restricted shares of
New Visual common stock. An additional 10,000,000 restricted shares of common stock have been delivered to an escrow agent
and will be released to the New Wheel stockholders upon the achievement by New Wheel of a technological development
milestone. Additional compensation would be paid to the New Wheel stockholders if New Wheel's high speed digital transmission
technology generates revenues for the company in excess of $1 billion, or if there is a sale of assets or stock, or a merger of New
Visual or any of its affiliates in which the New Wheel technology comprises at least 15% of the consideration. Initial financing to
fund the development of the technology has been facilitated by Lilly Beter Capital Group.

New Wheel is developing high-speed digital transmission technology for a variety of applications. The Company announced that it
has begun development efforts on a new high-speed broadband local telephone loop transmission technology that could provide
access up to 133 times faster than typical DSL service. The technology, when applied to 51 Mbps VDSL, will provide extended
range, which can be deployed to a majority of telephone customers. This new high-speed capability could provide both Internet
access and cable TV-like services. Higher transmission speeds, such as LAN and ATM rates, are also under development. New
Wheel intends to provide technology licenses to interested parties and to release its own branded products.

Ray Willenberg, Jr., President of New Visual, states, ``We are delighted to finalize this merger and to announce that Allan Blevins
and Michael Shepperd, the founders of New Wheel, have agreed to continue working with New Visual to develop this innovative
transmission technology. Now we can finally get to the fun part of developing and proving this exciting technology, which will
ultimately help us to deliver (at unprecedented speeds), a variety of content for consumer and Business to Business applications.''

Mr. Blevins and Mr. Shepperd will serve as New Wheel's President and Vice President respectively. Mr. Blevins and Mr.
Shepperd also will each serve as Vice Presidents of New Visual. Mr. Blevins said, ``Joining New Visual will enable us to speed
development of our technology, while strengthening its potential to supply content to multiple markets. Mike and I are excited to be
a part of the New Visual team.'' Mr. Shepperd added, ``I'm pleased to be continuing our development work with New Visual.
There should be some great opportunities to combine the technologies we are developing with the 3D content and web animation
of New Visual.''

New Visual also announced the termination of its previously announced merger agreement with Astounding.com, Inc. Mr.
Willenberg explained that certain conditions to the merger, originally announced in September 1999, had not been satisfied, and
that the New Visual Board of Directors thus unanimously voted this month to pursue the opportunity with New Wheel.

New Visual Entertainment, Inc. is a true stereoscopic 3D production company that specializes in 3D product development and
distribution for special venue theaters, home video, broadcast and theatrical markets by utilizing patented technology for the
creation and exhibition of 3-dimensional media. Its stock is traded on the Nasdaq stock market's over-the-counter bulletin board
under the symbol NVXE. Lilly Beter Capital Group, Ltd., with offices in Washington, DC, New York, California, Florida,
Minnesota, Illinois, Gibraltar, Turks and Caicos Islands, and the British West Indies, is providing investor and public relations
services for the Company and can be reached at 561-361-1030.

With the exception of the historical information contained in this release, this release includes forward-looking statements made
under the ``safe harbor'' provisions of the Private Securities Litigation Reform Act of 1995. These statements involve risks and
uncertainties that could cause actual results to differ materially from those in the forward-looking statements, including but not
limited to the following: product development difficulties; manufacturing difficulties; market demand and acceptance of products;
the impact of changing economic conditions; business conditions in the internet, computer, and 3D film and video industries;
reliance on third parties including potential suppliers, licensors and licensees; the impact of competitors and their products; risks
concerning future technology; and other factors detailed in this release and in the Company's Securities and Exchange
Commission filings.

SOURCE: New Visual Entertainment, Inc.

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