Avondale Partners Research Analysts Named to Wall Street Journal's Best on the Street for Second Consecutive Year; Avondale Also Earns Its Second Hot 100 Ranking from Entrepreneur.

NASHVILLE, Tenn. -- Two out of five qualifying analysts at Avondale Partners were named this week in the Wall Street Journal's Best on the Street analysts survey for 2005. In addition, Avondale Partners was named to Entrepreneur Magazine's Hot 100 list in the publication's June issue. This is the second consecutive year Avondale Partners was recognized in the WSJ and Entrepreneur rankings.

The 14th annual survey, conducted by Thompson First Call and the Wall Street Journal, recognizes the top five stock pickers in 44 industry sectors. According to the Wall Street Journal, this year's 213 Best on the Street analysts were selected from more than 4,000 analysts at more than 280 firms. Of that group, 1,707 analysts met the survey's eligibility tests and qualified to have their research analyzed in detail. The rankings were determined by the analysts' recommendation-performance scores for 2005, which were calculated based on the estimated total return, including price changes and dividends, of each eligible stock an analyst covered in an industry, as well as the number of stocks the analyst covered within that industry.

Avondale Partners had the eighth-highest "batting average," which is the number of awards divided by the number of analysts who qualified for the survey. The following Avondale analysts were ranked among the top five in their categories.

Industry   Total
    Analyst                   Industry               Rank     Return
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Frank Gristina          Specialty Retailers and
(a 2-year winner)       Services                       2       74.9
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Douglas (Doug) Lane
(a 4-year winner)       Household Products             3       46.8
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"Receiving this prestigious honor for a second consecutive year is further affirmation of our objective research philosophy and our company's commitment to providing our clients with proprietary and value-added research insights," said Pat Snell, Director of Research for Avondale Partners. "It is very visible, national recognition of our approach and the outstanding work of Frank and Doug. We are very proud of them."

In Entrepreneur's 12th annual survey of America's fastest-growing new businesses, Avondale's performance ranked it the 39th fastest growing company. The survey is conducted by the magazine and PriceWaterhouseCoopers and ranks America's newest companies - none of which could be founded earlier than 2000 - by their sales growth rate since inception.

"Our fast-paced growth is a reflection of the market's reception of Avondale's product. We have enjoyed a terrific response for everything from our investment banking expertise to our outstanding research product to our trading and execution capabilities," said Pat Shepherd, Senior Managing Partner of Avondale Partners. "These rankings are an achievement that all of us at Avondale can take pride in."

Frank Gristina joined Avondale in 2003 and is a managing director and senior research analyst covering the consumer internet industry. Prior to coming to Avondale, Gristina was with Robinson Humphrey where he specialized in fundamental coverage of public newspaper and publishing companies. Earlier this month, Gristina's 2005 research performance earned him the top ranking among all analysts in the country in the Forbes.com/StarMine Analyst Awards, an annual ranking of Wall Street's best brokerage analysts.

Doug Lane, CFA, joined Avondale in 2002 and is a managing director and senior research analyst covering consumer products & direct selling. Prior to joining Avondale he founded and managed a hedge fund in New York, and he was an equity analyst for 10 years at Merrill Lynch, where his coverage included the U.S. beverage group.

Avondale Partners, LLC is a leading, full-service institutional investment bank headquartered in Nashville, Tenn., with offices in Boston, Philadelphia, San Diego, Minneapolis, Baltimore and Atlanta. The firm focuses on providing high-quality equity research, sales and trading and investment banking services to institutional clients throughout the U.S., Canada and Europe. Since its inception in the summer of 2001, Avondale Partners has executed approximately 60 investment banking transactions and assignments for its clients, exceeding a total value of $4 billion, including public debt and equity offerings, private placements and merger and acquisition transactions. More information on Avondale Partners can be found at its web site, www.avondalepartnersllc.com .