2000 Reuters Survey Ranked Four U.S. Bancorp Piper Jaffray Research Analysts Among Top 10 Sell-Side Analysts.

Business Editors

MINNEAPOLIS--(BUSINESS WIRE)--April 18, 2000

The 2000 Reuters Survey recently named four U.S. Bancorp Piper Jaffray equity research analysts among the top 10 in the nation for the quality of their coverage in their respective industries: Senior Analyst Allan Hickok in the restaurant industry, Senior Analysts Rebecca Yarchover and Brent Rystrom in the retail industry and Senior Analyst Michael Grondahl in the electrical equipment industry. While not an electrical equipment analyst, Grondahl covers specialty finance companies for U.S. Bancorp Piper Jaffray, including Comdisco, Inc., a leading technology leasing and services company .

This is the third year Reuters has conducted its annual survey. This year, 368 large U.S. companies with capitalizations exceeding $3 billion and 109 fund management groups voted in the survey of sell-side analysts, as part of a broader survey.

"The Reuters Survey results reflect the value that companies and institutions place in our analysts," said Tom Schreier, director of Equity Research for U.S. Bancorp Piper Jaffray. "Our goal has been to make our analysts the `go to' analysts in their respective sectors. `Go to' analysts are the ones who become an indispensable part of understanding their coverage areas because they provide the most insight and the best guidance. The results of the Reuters Survey demonstrate that many of our analysts have achieved this stature."

The U.S. Bancorp Piper Jaffray Equity Capital Markets division specializes in research, investment banking and trading for growth companies - small and mid-sized companies with capitalizations that are typically under $3 billion. "The fact that large companies recognize our analysts among leaders in the nation is particularly affirming, given that our primary research focus is on growth companies, which were not surveyed by Reuters," said Schreier.

About U.S. Bancorp Piper Jaffray analysts recognized by Reuters

Allan Hickok is a managing director of U.S. Bancorp Piper Jaffray and a senior research analyst covering the restaurant and e-food segments. He is a three-time All-Star Analyst as chosen by the Wall Street Journal. His coverage includes Applebee's International (APPB--$32 3/8, a) McDonald's Corp. (MCD--$33 11/16, a), The Cheesecake Factory Incorporated (CAKE--$38 5/16, a) and Starbucks Corporation (SBUX--$36 1/8, a,c).

Rebecca Yarchover joined the Equity Research department in 1999 as a senior research analyst focusing on retail hard-goods companies. She previously was the senior retail hard-goods equity analyst and a vice president in the Equity Research department at Credit Suisse First Boston, in New York. Her coverage includes Circuit City Group (CC--$51 15/16, a), Home Depot, Inc. (HD--$56 5/8, a), Lowe's Companies, Inc. (LOW--$54 7/16, a) and Tiffany & Co. (TIF--$65 1/2, a).

A managing director and senior research analyst at U.S. Bancorp Piper Jaffray, Brent Rystrom follows broadlines and specialty retailing. Prior to joining the Equity Research department of U.S. Bancorp Piper Jaffray in 1993, Rystrom was employed by Craig-Hallum and John G. Kinnard, both in Minneapolis, covering emerging growth companies in a variety of industries. His coverage includes Consolidated Stores (CNS--$11 3/8, a), Dollar Tree Stores (DLTR--51 3/16, a), Family Dollar Stores, Inc. (FDO--$18 1/2, a), Michaels Stores (MIKE--39, a) and 99 Cent Only Stores (NDN--$38 3/4 a,c).

Michael Grondahl is a vice president and senior research analyst at U.S. Bancorp Piper Jaffray, covering the commercial finance/leasing universe. Grondahl follows leasing, commercial lending and asset resolution companies. His coverage includes (AmeriCredit Corp. (ACF--$16 11/16, a,c), Comdisco, Inc. (CDO--$29 7/16, a), DVI, Inc. (DVI--$14, a,c), and The FINOVA Group (FNV--$14 3/16, a).

U.S. Bancorp Piper Jaffray, a subsidiary of Minneapolis-based U.S. Bancorp, provides a full range of investment products and services to businesses, institutions and individuals. The company's investment banking business has grown exponentially in the last several years by focusing on the needs of growth companies in the health care, technology, financial institutions, consumer and industrial growth sectors. U.S. Bancorp Piper Jaffray has a national reputation for its expertise in fundamental research and equity and debt financing. U.S. Bancorp offers a comprehensive range of financial solutions through U.S. Bank, First American Asset Management, U.S. Bancorp Libra Investments and U.S. Bancorp Piper Jaffray. Securities products and services offered through U.S. Bancorp Piper Jaffray, Inc., member SIPC and NYSE, Inc., a subsidiary of U.S. Bancorp.

Nondeposit investment products are not insured by the FDIC, are not deposits or other obligations of or guaranteed by U.S. Bank National Association or its affiliates, and involve investment risks, including possible loss of the principal amount invested. Securities products and services are offered through U.S. Bancorp Piper Jaffray Inc., member SIPC and NYSE, Inc., a subsidiary of U.S. Bancorp.