Friedman Billings Ramsey's Wish List Bodes Well for a Green Christmas; Santa Claus Comes Early With 21 Percent Return YTD At End of Third Quarter.ARLINGTON Arlington, county, United States Arlington, county (1990 pop. 170,936), N Va., across the Potomac River from Washington, D.C. Arlington is a residential and commercial suburb of Washington. , Va.--(BUSINESS WIRE)--Oct. 4, 1999-- Christmas in October? For investors in a special 15-stock "Christmas Wish List" of securities tracked by Friedman Billings Ramsey FBR Group Friedman, Billings, Ramsey Group Inc., or simply FBR, (NYSE:FBR), is a full service investment bank headquartered in Arlington, Virginia that sponsors the FBR Open PGA golf tournament held in Phoenix, Arizona. Group, Inc. (NYSE NYSE See: New York Stock Exchange : FBR FBR Friedman, Billings, Ramsey Group, Inc. (investment firm) FBR Fast Breeder Reactor FBR Federal Benefit Rate FBR Foundation for Biomedical Research FBR Foundation for Blood Research FBR Fluidized Bed Reactor ), the end of the third quarter is beginning to look a lot like a green Christmas. With the performance of its 1999 Christmas Wish List up an average of 20.8 percent (year-to-date Year-to-date (YTD) The period beginning at the start of the calendar year up to the current date. ), the index has outpaced the S&P 500 (up 4.35 percent), the Russell 2000 (up 1.27 percent), and the S&P 400 MidCap mid·cap adj. 1. Or or relating to corporations whose retained earnings and outstanding shares of common stock have a value between those of small cap companies and large cap corporations. 2. (down 2.99). FBR named the securities in its Sixth Annual Wish List on December 18, 1998. "Besting the S&P 400 MidCap by 24 percent and the Russell by 20 percent, is evidence of FBR's growing expertise across a range of industry sectors," said Martin Friedman, Director of Research at FBR. "With more than 55 analysts focused on sectors ranging from technology to real estate to banking, we have the depth and breadth to identify the market leaders. The 'Wish List' is confirmation of FBR's core analytical analytical, analytic pertaining to or emanating from analysis. analytical control control of confounding by analysis of the results of a trial or test. strength in 14 key industry sectors, including some of the fastest-growing and most rapidly changing sectors of the economy." The top five performing picks in the FBR Christmas Wish List are: - Diamond Technology Partners - Up 135 percent - Guarantee Life - Up 65 percent - Newfield Exploration - Up 58 percent - IDT IDT Integrated Device Technology, Inc. (Santa Clara, CA, USA) IDT I Don't Think IDT Identity Theft IDT Interrupt Descriptor Table IDT Integrated DNA Technologies IDT Inactive Duty Training IDT Instructional Design & Technology Corporation - Up 36 percent - Transportation Technologies Industries - Up 32 percent Since its inception in 1994, the FBR Christmas Wish List has an average end-of-the-year return of 27.6 percent, and includes a mix of large cap, small cap, growth, and value stocks Value stocks Stocks with low price/book ratios or price/earnings ratios. Historically, value stocks have enjoyed higher average returns than growth stocks (stocks with high price/book or P/E ratios) in a variety of countries. . FBR's Christmas Wish List has posted double-digit returns every since it was first published in 1994, except for 1998. Friedman Billings Ramsey Group, Inc. is a publicly traded, full-service investment banking firm. Asset management operations include private investment partnerships, venture capital and private equity partnerships, and the FBR family of mutual funds. Its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Friedman Billings Ramsey & Co., Inc. (FBR) makes a market in more than 400 securities and provides research coverage on 430 publicly-traded companies. fbr.com is a division of FBR Investment Services, Inc., a wholly owned subsidiary of Friedman Billings Ramsey Group, Inc. and will provide access, as a selling group Selling Group All financial institutions involved in selling or marketing a new issue of debt or equity but not necessarily participating in the underwriting consortium. Notes: member, to IPOs underwritten by FBR and others. Editors: Chart of all 15 stocks in the FBR Christmas Wish List and their performance is attached. Friedman, Billings, Ramsey & Co., Inc. makes a market in the common shares of the following companies: ADVANTA A (ADVNA ADVNA Advanta Corporation (stock symbol) ), ADVANTA B (ADVNB), BankAtlantic (BANC [French, Bench.] The location where a court customarily or permanently sits. When a court is sitting in banc (or en banc), it means that a meeting or session of all the judges of a court is taking place. ), Brookdale Living Communities (BLCI BLCI Base Level Communication Infrastructure ), Diamond Technology Partners (DTPI), Guarantee Life (GUAR), IDT Corporation (IDTC IDTC Interdeployment Training Cycle IDTC Indefinite Delivery-Type Contract(s) ), Johnstown America (JAII), Styling Technology (STYL STYL Speak to You Later STYL Same to You, Loser ). Friedman, Billings, Ramsey & Co., Inc. was manager/co-manager of public offering of the following companies' securities within the last three years: Brookdale Living Communities (BLCI), IDT Corporation (IDTC), Styling Technology (STYL). Past performance is not indicative of future returns. Statements concerning future performance, developments, negotiations or events, concerning expectations for plans and objectives for future operations or for growth and market forecasts, and any other guidance on present and future periods, constitute forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that are subject to a number of factors, risks and uncertainties that might cause actual results to differ materially from stated expectations. These factors include but are not limited to the effect of demand for public offerings, activity in the secondary securities markets, available technologies, competition for business and personnel, and general economic, political and market conditions. This announcement is neither an offer to sell nor a solicitation solicitation In criminal law, the act of asking, inducing, or directing someone to commit a crime. The person soliciting another becomes an accomplice to the crime. The term also refers to the act of obtaining bribes, as well as to the crime of a prostitute who offers sexual of an offer to buy these securities, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state. From time to time, this firm, its affiliated entities and/or their respective directors, officers, employees, and members of their immediate families may have a long or short position in the securities mentioned in this press release. These securities may be sold to or purchased from customers or otherwise by this firm, its affiliated entities, and/or its directors, officers, employees, or members of their immediate families, as principal or agent. -0-
Friedman Billings Ramsey Christmas
Wish List Performance
Price
Company Symbol 31-Dec-98 30-Sep-99
Advanta A(a) ADVNA 13 1/4 14 5/8
Advanta B (a) ADVNB 11 1/6 11 3/4
Bank Atlantic Corp. BBX 5 19/32 5 9/16
Bank Atlantic(a) BANC 6 13/64 6 11/32
Brookdale Living
Communities(a)(b) BLCI 19 1/2 14 3/8
Diamond
Technology Part.(a) DTPI 19 1/8 44 7/8
Fortune Brands FO 31 5/8 32 1/4
Guarantee Life GUAR 18 1/2 30 9/16
Hudson United HU 30 1/8 30 13/16
IDT Corp.(a) IDTC 15 3/8 20 15/16
Newfield
Exploration NFX 20 7/8 32 15/16
Styling Tech.(a)(b) STYL 9 1/4 10 3/4
Transportation
Technologies Ind. TTII 13 1/8 17 5/16
Washington Mutual WM 38 3/8 29 1/4
Wells Fargo WFC 39 15/16 39 5/8
Average
S&P 400 MID 392.31 380.59
S&P 500 SPX 1,229.23 1,282.71
Russell 2000 RUY 421.96 427.30
Year-to-date Wish List Performance
Performance relative to:
Company S&P 400 S&P 500 Russell 2000
Advanta A(a) 10.4% 13.4% 6.0% 9.1%
Advanta B(a) 5.2% 8.2% 0.9% 4.0%
Bank Atlantic Corp. -0.6% 2.4% -4.9% -1.8%
Bank Atlantic(a) 2.3% 5.3% -2.1% 1.0%
Brookdale Living
Communities(a)(b) -26.3% -23.3% -30.6% -27.5%
Diamond
Technology Part.(a) 134.6% 137.6% 130.3% 133.4%
Fortune Brands 2.0% 5.0% -2.4% 0.7%
Guarantee Life 65.2% 68.2% 60.9% 63.9%
Hudson United 2.3% 5.3% -2.1% 1.0%
IDT Corp.(a) 36.2% 39.2% 31.8% 34.9%
Newfield
Exploration 57.8% 60.8% 53.4% 56.5%
Styling Tech.(a)(b) 16.2% 19.2% 11.9% 15.0%
Transportation
Technologies Ind. 31.9% 34.9% 27.6% 30.6%
Washington Mutual -23.8% -20.8% -28.1% -25.0%
Wells Fargo -0.8% 2.2% -5.1% -2.0%
Average 20.8% 23.8% 16.5% 19.6%
S&P 400 380.59 -2.99%
S&P 500 1,282.71 4.35%
Russell 2000 427.30 1.27%
(a) Friedman, Billings, Ramsey & Co., Inc. maintains a market in
securities of these companies.
(b) Friedman, Billings, Ramsey & Co., Inc. managed/co-managed or
otherwise underwrote an offering for these companies within the
last three years.
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