477% Return Places Apodaca Investment Group At Top of Piper's Equity Performance Chart for Managed Accounts.

Business Editors

SAN FRANCISCO--(BUSINESS WIRE)--Feb. 22, 2000

Apodaca Investment Group's 477.4% return has earned the San Francisco-based hedge fund the top spot in the PIPER 1999 year-end performance review of managed equity accounts. The list of overall managed equity funds appeared in the February 21, 2000 issue of Pension & Investments.

Established in 1992, Apodaca Investment Group, LLC is a domestic small-cap technology growth equities management firm running money for high-net worth individual and institutional investors. Jerry C. Apodaca is the firm's founder and portfolio manager.

"We've achieved these very high results by facing volatility directly and through the purchase and shorting of stocks in emerging and established growth technology companies," said Apodaca.

"Our love affair with high-growth tech firms with high returns continues because our confidence in the sector is still strong," Apodaca stated. "We've already taken our focused strategy into the new year with gross returns to date of over 35%."

"Our small-cap growth stocks have provided a unique opportunity for our investors to capitalize on mispriced securities through our superior analytical research," said Apodaca. "We take pride in our ability to discover high-tech companies and other new emerging industry groups well before Wall Street finds them."

According to Apodaca, the company strives to discover those emerging companies that identify and capitalize on positive business trends, including improving industry fundamentals, accelerating growth in revenues and earnings, and an experienced management team with the talent to exceed their business plans.

"Once a new investment idea is uncovered," explained Apodaca, "our internal resources and cross-referencing capabilities allow us to make a solid decision to purchase a stock and make it a long-term core holding in our portfolio."

Among the firm's successful early finds are Broadcom (BRCM) purchased at $35 per share, now trading at $337; Network Appliance (NTAP) purchased at $7.75, now at $149; JDS Uniphase (JDSU) bought at $1.75, now at $200; PMC Sierra (PMCS) at $13.5, now trading at $264; and others.