Article: NewState Capital Issued 5 Billion Won of Corporate Bonds Backing A CBO Underwritten by Bookook Securities.

Business Editors

NEW YORK--(BUSINESS WIRE)--Feb. 23, 2001

NewState Holdings, Inc. (OTCBB:NSTH) announced today that NewState Capital, its Korean operating subsidiary, has successfully issued corporate bonds in the principal amount of 5 billion Won (US$4.2 million) on February 23.

The bonds were issued with single maturity term, 2 years and have been incorporated into the underlying assets backing a 541 billion Won (US$4.51 hundred million) pooled collateralized bond obligation ("CBO") underwritten by Bookook Securities Co., Ltd.

This bond issuance has enabled NewState Capital to secure additional funds for its mortgage loan origination ...

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