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(Aug. 28, 2001) -- A marketing services holding company has acquired an 8.3% stake in online marketing and communications company Leapnet, according to papers filed today with the Securities and Exchange Commission.

Privately held Mickelberry Communications, New York, acquired 484,200 shares of Leapnet stock worth $841,610 from Aug. 13-28, and its chairman, James Marlas, owns an additional 50,000 shares worth $267,000.

The filing states Mickelberry purchased the shares as an investment and may increase, hold or sell off shares, depending on conditions.

Leap received approval from the Nasdaq market in June to continue trading its stock after the company completed a reverse five-for-one split that brought its price within the market's limits. Shares had been trading under $1 since late 2000; after the June 6 split, their price rose above the limit; during late-day trading, shares were unchanged for the day at $1.27. -- Mercedes Cardona

Copyright August 2001, Crain Communications Inc.

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