Davidson 99 Outperforms for Year but Lags Market in Third Quarter.

GREAT FALLS, Mont. -- D.A. Davidson & Co., the largest full-service investment firm based in the Northwest, today announced that the Davidson 99 Regional Stock Index gained 2.75 percent for the third quarter of 2007, underperforming the major indices for the quarter but continuing its growth trend overall. The Dow Jones Industrial Average gained 3.63 percent during the quarter, while the S&P 500 and the NASDAQ Composite posted gains of 1.56 percent and 3.77 percent, respectively, during the second quarter. Since its inception on Jan. 1, 2004, the Davidson 99 has risen 69.39 percent.

For the first nine months of the year, the Davidson 99 gained 14.82 percent, outpacing the major indices as it has during most quarters. For the same time period, the Dow Jones Industrial Average gained 11.49 percent, the NASDAQ Composite gained 11.85 percent and the S&P 500 gained 7.65 percent.

According to Fred Dickson, Chief Market Strategist for D.A. Davidson, "Helped by a sharp rally in the regional bank stocks, the Davidson 99 enjoyed a strong end-of-the-quarter rally following the Federal Reserve announcement lowering interest rates on September 18. The Davidson 99 continues to reflect strong economic growth in the Pacific Northwest related to aerospace and technology investment spending. After a sluggish start in 2007, the index is now outperforming the major market indices year-to-date and since its inception on December 31, 2003."

Seven of the Davidson 99 companies gained more than 25 percent for the quarter while five companies lost more than 25 percent for the quarter. The three Davidson 99 stocks with the best performance in the third quarter were Blue Nile (NILE), which gained 55.83 percent, Schnitzer Steel Industries (SCHN) and Myriad Genetics Inc. (MYGN), which were up 52.88 percent and 40.23 percent, respectively. The three Davidson 99 stocks with the worst performance were Coldwater Creek (CWTR), which fell 53.25 percent; Getty Images Inc. (GYI), which was down 41.77 percent; and Nautilus Inc. (NLS), which fell 33.80 percent.

The following changes were made during the third quarter to the Davidson 99 Regional Index. Colorado-based Wild Oats and First Data and Washington-based aQuantive were acquired during the quarter and dropped from the index. Oregon-based Pixelworks (PXLW) was dropped from the index due to significant business erosion over the last 18 months. Those companies were replaced by Colorado-based Discovery Holdings (DISCA), Vail Resorts Inc (MTN), and Chipotle Mexican Grill (CMG), and Washington-based Banner Corporation (BANR).

The Davidson 99 was launched Jan. 1, 2004. It is comprised of 99 stocks from companies operating within seven Northwest and Rocky Mountain states, including Colorado, Idaho, Montana, Oregon, Utah, Washington and Wyoming. The securities were selected based on market capitalization, importance within their sectors and importance in the states they represent. All 10 major market sectors are represented, showing the diversification of the region's companies.

The Davidson 99 Regional Index is published daily at www.dadavidson.com, along with occasional commentary from D.A. Davidson's Private Client Research Team on the performance of the index and implications regarding the economic health of these regions. The index is price-weighted, or calculated in the same manner as the Dow Jones Industrial Average, the world's most widely followed stock index. The closing price of each component in the index is determined daily after the markets' close, and the values are summed and compared with the value set on Jan. 1, 2004, then adjusted for stock splits and mergers. The index was set to a base value of 100 on Jan. 1, 2004.

About D.A. Davidson & Co.

Founded in 1935, D.A. Davidson & Co. is an independently owned, full-service investment firm with 950 employees and offices in 16 states. D.A. Davidson & Co. is owned by Davidson Companies, a financial services holding company based in Montana. Also part of Davidson Companies are Davidson Trust Co., a wealth management and trust company; Davidson Investment Advisors, a professional money management firm; Davidson Fixed Income Management, a registered investment adviser providing money management and other fixed income services; and Davidson Travel, a full-service travel agency.

Shares in the Davidson 99 Regional Stock Index cannot be bought or sold, and companies included in the index may or may not be covered by D.A. Davidson's research team. Information regarding the national indices referred above can be obtained at www.dadavidson.com or by contacting a local D.A. Davidson office.