D.A. Davidson & Co. Bolsters Public Finance Office in Seattle.

Highly Experienced Banker Joins as Part of Firm's Continued Expansion

GREAT FALLS, Mont. -- D.A. Davidson & Co., the largest full-service investment firm based in the Northwest, today announced that Jon Gores has joined the company's Fixed Income Capital Markets as Senior Vice President, Public Finance in Seattle. Gores will focus on public education transactions.

"Jon represents our commitment to growing our public finance practice so that we are able to continue serving clients nationwide with professionalism and the personalized service that is our company's hallmark," said Kreg Jones, Managing Director, Fixed Income Capital Markets. "Jon's extensive knowledge of public finance in general, and his remarkable expertise in the public education sector, makes him a perfect addition to our growing public finance team."

Gores joins D.A. Davidson with more than 20 years of experience in public finance, including originating more than 100 Washington school district financings over the past five years alone. He has been instrumental in developing financing solutions for specific school district funding needs. Gores' work on behalf of school districts has resulted in the repeal of a law that eliminated the tax-rate spike that districts encounter with a mid-year bond sale. His work also resulted in the passage of House Bill 1832, which allows school districts to use limited general obligation debt for the construction and remodeling of existing facilities.

Gores will be responsible for growing the K-12 education sector business for D.A. Davidson using his strong relationships and expertise in school district financings.

He joins D.A. Davidson from Seattle Northwest Securities, where he was a vice president in the public finance department and served as manager of the School Finance Group for Washington State schools. He has served on the School Bond Guarantee Program advisory committee and is a member of WASA, WSSDA and WASBO. He is a trustee of the Washington State School Boards Educational Foundation, where he has helped develop an education scholarship program for district school board members. Gores has been a guest lecturer at various conferences as well as for the University of Washington, Washington State University and Seattle Pacific University.

D.A. Davidson & Co.'s Fixed Income Capital Markets Group provides public finance banking and advisory services, fixed income sales and trading in both taxable and tax-exempt sectors. In addition they provide fixed income investment products and advisory services to public and private sector clients and non-profit institutions. Founded in 1935, D.A. Davidson & Co. is the largest full-service investment firm based in the greater Northwest, with offices in 16 states.

About Davidson Companies

Based in Montana, Davidson Companies is one of the nation's leading financial services holding companies, offering a full menu of integrated brokerage, capital markets, money management, trust and wealth management services. Davidson Companies had over $21 billion of assets under management as of July 2006. The company is employee-owned, with more than 940 associates working in 16 states.

Besides operating D.A. Davidson, Davidson Companies also owns Davidson Fixed Income Management, a registered investment adviser providing money management and other fixed income advisory services; Davidson Trust Co., a wealth management and trust company; Davidson Investment Advisors, a professional money management firm; and Davidson Travel, a full-service travel agency.