(May 24 – 12:40 ET) – YMG Capital Management Inc.reported net
income of $1.68 million for the three months ended March 31, 2000, compared to $452,000 a year ago. Assets under management were $11.7 billion for the quarter versus
$11.7 billion at December 31, 1999 and $10 billion at March 31, 1999.

Basic earnings per share was 13¢ for the quarter compared to 3¢ a year ago.

Fee revenue for the quarter was $3.7 million, up 11% from the same quarter in 1999. During the quarter YMG liquidated a substantial portion of its portfolio investments for a gain of $3.4 million. In addition YMG incurred some unusual expenses, including those related to the launch of a closed-end fund that was pulled due to market conditions.
-IE Staff