Stock Prices of Companies Covered by BlueFire Research Up Average of 13.20% Since Coverage Initiated

Average Appreciation is Nearly 25% Excluding Impact of Internet and Telecom

Stocks; BlueFire Research Now Following 20 Companies



Apr 16, 2001, 01:00 ET from BlueFire Research

    MINNEAPOLIS, April 16 /PRNewswire/ -- The stock prices of companies
 covered by BlueFire Research, an SEC-Registered Investment Adviser and an
 affiliate of Minneapolis-based, strategic consulting firm BlueFire Partners,
 Inc., enjoyed average price appreciation of 13.20% through April 12, 2001.
 The calculations are based on the stock prices of the companies under coverage
 as of the date that coverage was initiated by BlueFire Research, through the
 close of the market on April 12, 2001.  The Nasdaq/National Market System
 Composite index has declined 48% since April of 2000, when BlueFire Research
 initiated equity coverage and began to publish its reports.
     While BlueFire Research currently has 20 companies under coverage, ten
 companies have been under coverage for a minimum 60 days and have been
 included in the performance calculations.  When the companies involved in
 Internet and telecom-related business models are removed from the calculation,
 BlueFire Research covered companies are up nearly 25% from the point of
 coverage initiation.  Companies under coverage who have performed considerably
 better than the broader stock market indices include
 Shuffle Master, Inc. (Nasdaq: SHFL), Daktronics, Inc. (Nasdaq: DAKT),
 Nash Finch Company (Nasdaq: NAFC) and The Sportsman's Guide (Nasdaq: SGDE).
 As a group, these companies have appreciated an average of nearly 85% since
 BlueFire Research coverage has been initiated.
     BlueFire Research was formed a year ago by Minneapolis-based BlueFire
 Partners, Inc. to provide investment research on small capitalization growth
 companies in health care, technology, financial institution, consumer, and
 industrial growth sectors.  BlueFire Research prepares and provides research
 reports and periodic updates to investment professionals and the investment
 community on mid-cap, small-cap and micro-cap companies who, in most cases,
 are clients of BlueFire Partners, Inc.  The reports on companies who enjoy
 full coverage include earnings estimates and recommendations based on
 fundamental and relative valuation models.  BlueFire Research reports are made
 available to more than 2,000 institutional money management firms,
 representing 30,000 portfolio managers and buy-side analysts, through First
 Call Corporation's Research Direct(R) service.  Of the twenty companies under
 coverage, research reports on 13 of the companies are issued and available at
 http://www.bluefirepartners.com/bfr .  BlueFire Research expects to initiate
 coverage on an additional 10 companies during the first three quarters of
 2001.
 
     About BlueFire Partners
     BlueFire Partners, Inc. is a research-driven, professional services firm
 that focuses on increasing the value of its clients through relationships that
 employ the dynamic disciplines of corporate communications, investor
 relations, graphic print and web design, enterprise improvement consulting and
 training and capital markets advice and counsel.
     The firm's expertise is applied through a unique business model that
 incorporates original market and investment research, media relations,
 performance improvement, consulting and advisory services in a strategic
 package designed to increase the market and enterprise value of clients.
 BlueFire Research, a subsidiary of BlueFire Partners, Inc. Capital Markets
 Group, is an SEC-registered investment adviser providing investment research
 on small-capitalization growth companies.  BlueFire Partners Capital Markets
 Group also specializes in mergers and acquisition advisory, valuation advisory
 and fairness opinions, and capital formation advisory.  For more information
 on the professional capabilities and services of BlueFire Partners, Inc.,
 please visit http://www.bluefirepartners.com
 
    For more information, contact Bill Bartkowski of BlueFire Partners,
 612-344-1012, for BlueFire Research, or Lee Schafer of BlueFire Research,
 612-344-1021.
 
 

SOURCE BlueFire Research
    MINNEAPOLIS, April 16 /PRNewswire/ -- The stock prices of companies
 covered by BlueFire Research, an SEC-Registered Investment Adviser and an
 affiliate of Minneapolis-based, strategic consulting firm BlueFire Partners,
 Inc., enjoyed average price appreciation of 13.20% through April 12, 2001.
 The calculations are based on the stock prices of the companies under coverage
 as of the date that coverage was initiated by BlueFire Research, through the
 close of the market on April 12, 2001.  The Nasdaq/National Market System
 Composite index has declined 48% since April of 2000, when BlueFire Research
 initiated equity coverage and began to publish its reports.
     While BlueFire Research currently has 20 companies under coverage, ten
 companies have been under coverage for a minimum 60 days and have been
 included in the performance calculations.  When the companies involved in
 Internet and telecom-related business models are removed from the calculation,
 BlueFire Research covered companies are up nearly 25% from the point of
 coverage initiation.  Companies under coverage who have performed considerably
 better than the broader stock market indices include
 Shuffle Master, Inc. (Nasdaq: SHFL), Daktronics, Inc. (Nasdaq: DAKT),
 Nash Finch Company (Nasdaq: NAFC) and The Sportsman's Guide (Nasdaq: SGDE).
 As a group, these companies have appreciated an average of nearly 85% since
 BlueFire Research coverage has been initiated.
     BlueFire Research was formed a year ago by Minneapolis-based BlueFire
 Partners, Inc. to provide investment research on small capitalization growth
 companies in health care, technology, financial institution, consumer, and
 industrial growth sectors.  BlueFire Research prepares and provides research
 reports and periodic updates to investment professionals and the investment
 community on mid-cap, small-cap and micro-cap companies who, in most cases,
 are clients of BlueFire Partners, Inc.  The reports on companies who enjoy
 full coverage include earnings estimates and recommendations based on
 fundamental and relative valuation models.  BlueFire Research reports are made
 available to more than 2,000 institutional money management firms,
 representing 30,000 portfolio managers and buy-side analysts, through First
 Call Corporation's Research Direct(R) service.  Of the twenty companies under
 coverage, research reports on 13 of the companies are issued and available at
 http://www.bluefirepartners.com/bfr .  BlueFire Research expects to initiate
 coverage on an additional 10 companies during the first three quarters of
 2001.
 
     About BlueFire Partners
     BlueFire Partners, Inc. is a research-driven, professional services firm
 that focuses on increasing the value of its clients through relationships that
 employ the dynamic disciplines of corporate communications, investor
 relations, graphic print and web design, enterprise improvement consulting and
 training and capital markets advice and counsel.
     The firm's expertise is applied through a unique business model that
 incorporates original market and investment research, media relations,
 performance improvement, consulting and advisory services in a strategic
 package designed to increase the market and enterprise value of clients.
 BlueFire Research, a subsidiary of BlueFire Partners, Inc. Capital Markets
 Group, is an SEC-registered investment adviser providing investment research
 on small-capitalization growth companies.  BlueFire Partners Capital Markets
 Group also specializes in mergers and acquisition advisory, valuation advisory
 and fairness opinions, and capital formation advisory.  For more information
 on the professional capabilities and services of BlueFire Partners, Inc.,
 please visit http://www.bluefirepartners.com
 
    For more information, contact Bill Bartkowski of BlueFire Partners,
 612-344-1012, for BlueFire Research, or Lee Schafer of BlueFire Research,
 612-344-1021.
 
 SOURCE  BlueFire Research