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October 4, 2000

Volume III, Issue 84

Email : info@otcjournal.com
URL : http://www.otcjournal.com

To OTC Journal Members:

There is more good news to share with you today on Envoy Communications (NASDAQ: ECGI; TSE: ECG). Up from the low 4's last week, the stock has found a nice level in the mid 5's, and could easily be headed into the mid $6 range. Today's news was good, but there is more to come. The company released it after the market closed so that we could get it to you before the market opens tomorrow.

Before we cover the news on Envoy, a quick reminder that we have our first full profile since June coming out after the market closes on Friday. Current market conditions suck, which spells OPPORTUNITY for us. The companies we are looking at now are ridiculously undervalued, and we believe that Friday's profile is a great example.

In 1999 20 individuals were convicted for their involvement in a massive and sophisticated scheme to defraud Medicare. The convictions arose from an investigation of a home health agency that was the largest certified home health agency in Miami. The agency was paid approximately $120 million in Medicare funds for reimbursement of services, including nursing and home health aide visits. The convicted defendants received sentences ranging from 18 months imprisonment to, in the case of the highest level administrator, 12 years imprisonment. A single defendant returned $1.1 million in fraudulently obtained assets.

If you are interested in learning about a company that has doubled in size every year for the past 4 years, has been profitable since 1997, and is growing rapidly as a result of the criminal conduct of Health Care Providers in the 1990's like the one mentioned above, you will definitely want to read Friday's profile.

Envoy Communications (NASDAQ: ECGI; TSE: ECG)

Envoy picked up new institutional sponsorship from a Canadian based research firm. After the market closed, Envoy announced that Toronto based Griffiths McBurney issued a buy recommendation on the stock with a $12 (CDN) target price.

We are informed that Griffiths McBurney is a well respected boutique research firm with a strong following amongst institutional investors. We understand that they intend to present Envoy to their institutional clients with a bias towards small cap stocks.

While this news could easily propel Envoy's stock higher, this is not the major Wall Street sponsorship that we have been expecting the company to announce. However, it is clear that the company is gaining momentum, and this bodes well for the $6 level.

Stand by for bigger things to follow. Here is the press release for your review:

Wednesday October 4, 4:59 pm Eastern Time
Press Release
SOURCE: Envoy Communications Group Inc.

Griffiths McBurney Rates Envoy a 'Buy'
Twelve month target price of $12

TORONTO, Oct. 4 /PRNewswire/ - Geoff Genovese, President and CEO of the Envoy Communications Group (NASDAQ: ECGI / TSE: ECG), today announced that Griffiths McBurney and Partners has initiated research coverage on the Company with a 'buy' recommendation. In its newly released report on the Advertising and Marketing services sector, Griffiths McBurney also gave Envoy's stock a twelve month target price of $12.

``Through strong organic growth and strategic acquisitions internationally, Envoy has established a leadership position in the marketing, branding and technology sectors'', said Genovese. ``Griffiths McBurney's 'buy' recommendation and $12 target price is a reflection of the strength of our business model and an indication of things to come.''

``We rate Envoy a BUY with a target price of $12,'' said the report. ``A recovery in the valuation of e-service providers could cause an upward revision in our target price.''

A new breed company, Envoy (www.envoy.to) is an integrated e-Marketer, digitally driven and committed to building global brands both off and on-line. Envoy owns leading advertising and e-Marketing agencies, Communique, Devlin Applied Design, FUSIONcreative, Gilchrist Brothers (UK), Hampel/Stefanides of New York, Sage Information Consultants and The Watt Group. Envoy's impressive roster of clients include adidas-Salomon Canada, Aer Lingus, Alliance Atlantis, BASF, Benjamin Moore, Bermuda Telephone, CAMCO, Canada Life, CIBC, Castrol, CDNOW, Fairmont Hotels (USA), FedEx, Health Canada, Hewlett Packard, Honda, Hummingbird, IMAX Corporation, Juno Online Services, LCBO, National Discount Brokers, MAC Cosmetics, Oxford Properties Group Inc., Panasonic, PETsMART, PhoneFree, Pizza Hut Canada, Prudential (USA), Safeway, Sprint Canada, Steelcase, Taylor Made, TD Waterhouse (USA), Wal-Mart.

SOURCE: Envoy Communications Group Inc.

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