BancBoston Robertson Stephens Reiterates Strong BuyRating on GMST.

SAN FRANCISCO--(BUSINESS WIRE)--Sept. 20, 1999--

BancBoston Robertson Stephens Internet analyst Michael Graham and managing director and senior Internet analyst Keith E. Benjamin today reiterated their Strong Buy rating on Gemstar International (NASDAQ:GMST).

Gemstar is a leading

"We are reiterating our Strong Buy rating on Gemstar," said Graham and Benjamin. "We believe Gemstar's existing relationships with consumer-electronic manufacturers will help extend the company's reach into new platforms."

"In particular, Sony previously included Gemstar's EPG in televisions. Last week, Sony signed a deal with Cablevision to provide at least three million set-top boxes, which we believe will likely include Gemstar's EPG," said Graham and Benjamin. "We believe this places additional pressure on General Instrument to reach a deal with Gemstar in order to provide competitive boxes, a situation made potentially more urgent by Motorola's intended purchase of General Instrument."

"We continue to like Gemstar's risk/reward profile, with advertising revenue creating the potential for 5 times to 10 times upside to our estimates, while the company's core licensing business provides some downside protection," said Graham and Benjamin.

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