B.E. investment banks.

B.E. INVESTMENT BANKS

THIS   LAST
YEAR   YEAR   COMPANY                       LOCATION

 1      2     Blaylock & Partners L.P.      New York,
                                            NY

 2      1     The Williams Capital          New York,
              Group L.P.                    NY

 3      5     Loop Capital Markets L.L.C.   Chicago,
                                            IL

 4      6     Siebert Brandford Shank       Detroit,
              & Co. L.L.C.                  MI

 5      4     M.R. Beal & Co.               New York,
                                            NY

 6      11    SBK Brooks Investment         Cleveland,
              Corp.                         OH

 7      7     Jackson Securities L.L.C.     Atlanta,
                                            GA

 8      3     Utendahl Capital              New York,
              Partners L.P.                 NY

 9      10    Rice Financial                New York,
              Products Co.                  NY

 10     13    May Davis Group Inc.          Baltimore,
                                            MD

THIS   LAST                                          CHIEF
YEAR   YEAR   COMPANY                              EXECUTIVE

 1      2     Blaylock & Partners L.P.        Ronald E. Blaylock

 2      1     The Williams Capitol          Christopher J. Williams
              Group L.P.

 3      5     Loop Capital Markets L.L.C.     James Reynolds Jr.

 4      6     Siebert Brandford Shank            Suzanne Shank
              & Co. L.L.C.

 5      4     M.R. Beal & Co.                   Bernard B. Beal

 6      11    SBK Brooks Investment              Eric L. Small
              Corp.

 7      7     Jackson Securities L.L.C.     Reuben R. McDaniel III

 8      3     Utendahl Capital                 John O. Utendahl
              Partners L.P.

 9      10    Rice Financial                  J. Donald Rice Jr.
              Products Co.

 10     13    May Davis Group Inc.                Owen A. May
                                               & Kevin E. Davis

THIS LAST                                   YEAR
YEAR YEAR COMPANY                         STARTED        STAFF

 1    2   Blaylock & Partners L.P.          1993           85

 2    1   The Williams Capitol              1994           65
          Group L.P.

 3    5   Loop Capital Markets L.L.C.       1997           60

 4    6   Siebert Brandford Shank           1996           40
          & Co. L.L.C.

 5    4   M.R. Beal & Co.                   1988           30

 6    11  SBK Brooks Investment             1993           16
          Corp.

 7    7   Jackson Securities L.L.C.         1987           42

 8    3   Utendahl Capital                  1992          100
          Partners L.P.

 9    10  Rice Financial                    1987           30
          Products Co.

 10   13  May Davis Group Inc.              1993           34

THIS LAST                             SENIOR/CO-SENIOR CI-MANAGED
YEAR YEAR COMPANY                     MANAGED ISSUES *  ISSUES *

 1    2   Blaylock & Partners L.P.       214.204          --

 2    1   The Williams Capitol            78.540        158.403
          Group L.P.

 3    5   Loop Capital Markets L.L.C.      5.437         68.291

 4    6   Siebert Brandford Shank          4.296         61.561
          & Co. L.L.C.

 5    4   M.R. Beal & Co.                  2.650         19.071

 6    11  SBK Brooks Investment            2.281         13.031
          Corp.

 7    7   Jackson Securities L.L.C.        1.466         51.216

 8    3   Utendahl Capital                 1.147        162.269
          Partners L.P.

 9    10  Rice Financial                   0.789         10.391
          Products Co.

 10   13  May Davis Group Inc.             0.313          8.600

* IN BILLIONS OF DOLLARS, TO THE NEAREST MILLION. AS OF DEC. 31, 2002.
PREPARED BY B.E. RESEARCH. VERIFIED BY BARGE CONSULTING. REVIEWED BY
THE CERTIFIED PUBLIC ACCOUNTING FIRM EDWARDS & CO.