Montgomery Research analysts named "All Stars" by Wall Street Journal.

SAN FRANCISCO--(BUSINESS WIRE)--June 19, 1997--Montgomery Securities today announced that six of the firm's senior research analysts -- Thomas R. Courtney, P. Gordon Hodge, Michael Mueller, Thomas H. Tashjian, Alfred V. Tobia Jr., and John Weiss(a) -- were named "All Stars" in the annual rankings published by the Wall Street Journal. ((a) Weiss was ranked twice.)

"Research is the hub of the wheel at Montgomery, driving both our brokerage and investment banking operations," said John Skeen, Senior Managing Director and Director of Research at Montgomery Securities. "Montgomery has made a significant investment in its research department and we're proud that it has been recognized for its insight and accuracy."

The Wall Street Journal publishes its analyst "All Star" list each year. The survey, conducted for the Journal by Zacks Investment Research Inc. of Chicago, ranks analysts according to how well they pick stocks and according to how well they predict earnings for the companies they cover.

In addition to the analysts who received "All Star" rankings, Alice Ruth, Managing Director and Senior Research Analyst in the Consumer Group, was listed in the Journal's "Home Run Stocks of 1996" rankings for her "buy" rating on Finish Line. Finish Line was one of the stocks with the biggest gains in 1996. Ruth covers high-growth specialty retailers and branded consumer products and footwear companies.

Montgomery focuses exclusively on the growth sectors of the economy and was not reviewed in more than half of all categories such as metals, paper and forest products and airlines. This year, 24 analysts from Montgomery were considered for the rankings. The following Montgomery analysts were deemed "All Stars": -0-

Thomas R. Courtney - Principal and Senior Research Analyst in the Consumer Group. He follows specialty retail companies and direct marketers, including: CDW Computer Centers Inc., Micro Warehouse Inc. and West Marine Inc. Courtney joined Montgomery Securities in 1991 as an Associate. He was promoted to a Vice President and Senior Research Analyst in 1993, and in 1995 he was promoted to Principal. Prior to joining Montgomery Securities, he was an Audit Manager at KPMG Peat Marwick. (Ranked for stock-picking skill.)

P. Gordon Hodge - Vice President and Senior Research Analyst in the Media and Communications Group. He follows media and entertainment companies including: Clear Channel Communications, Regal Cinemas and Infinity Broadcasting. Hodge joined Montgomery Securities in 1992 as an Associate covering footwear and specialty retailing. He was promoted to Analyst in 1994 to follow gaming stocks and initiated coverage of broadcasting and motion picture exhibition in 1995. Prior to joining Montgomery, Hodge was an Associate in Corporate Finance at Dain Bosworth Incorporated in Seattle. He earned his M.B.A. from the Graduate School of Business at Stanford University after earning his B.A. in Business at the University of Washington. (Ranked for stock-picking skill.)

Michael Mueller - Managing Director and Senior Research Analyst in the Consumer Group. Mueller follows lodging and restaurant companies, including: HFS, Hilton Hotels, Marriott International, Host Marriott, La Quinta Inns, Doubletree, Wyndham Hotel, Promus Hotel, Interstate Hotels, Prime Hospitality, Suburban Lodges, FelCor Suite Hotels, Patriot American, RFS Hotel Investors, Signature Resorts, Planet Hollywood, Rainforest Cafe, Cheesecake Factory, Dave & Busters, Boston Chicken, Einstein/Noah Bagel Corp. and Fine Host. Mueller joined Montgomery Securities in 1981 after earning his M.B.A. from Stanford University. He graduated magna cum laude from the School of Foreign Service at Georgetown University with his BSFS in International Economics. He has been a member of Institutional Investor's "All-American Research Team" for the past 10 consecutive years. In 1995, Mueller was named one of the 50 most influential people in the restaurant industry by Nation's Restaurant News. (Ranked for stock-picking skill.)

Thomas H. Tashjian - Managing Director and Senior Retailing Analyst in the Consumer Group. He focuses on department store and discount store retailers, as well as specialty retailers in selected areas. Among the companies in Tashjian's current research coverage are: Sears, MacFrugal's, Wet Seal, Dollar General, Consolidated Stores, Marks Bros. Jewelers and Friedman's. Tashjian joined Montgomery Securities in 1995. He has analyzed the retail sector for 12 years at various investment firms and covered most retailing segments. His previous investment experience includes positions with First Manhattan Co., Seidler Companies, and Prudential Securities. He was formerly a Retailing Consultant for the City of New Orleans and an Area Manager for the Ayr-Way discount chain (acquired by Dayton Hudson's Target division.) (Ranked for stock-picking skill.)

Alfred V. Tobia Jr. - Principal and Senior Research Analyst in the Technology Group. Tobia follows data networking and communications companies including: Ascend Communications Inc., Anixter International, Bay Networks Inc., Cisco Systems Inc., 3Com Corp., Xylan, Shiva Corp., Cabletron Systems Inc., and FORE Systems Inc. Tobia joined Montgomery Securities in 1996. Prior to joining Montgomery, he was a Director at Schroder Wertheim and an Analyst at Mabon Nugent. He earned his degree in engineering and computer science from Lafayette College in 1991. In 1994, the Wall Street Journal recognized Tobia as the No. 1 Software Analyst. (Ranked for stock-picking skill.)

John Weiss - Managing Director and Senior Research Analyst in the Consumer Group. He now focuses on restaurants and also follows high growth consumer product companies and specialty retailers. He successfully identified Circuit City Stores, Lone Star Steakhouse and Saloon, Papa John's and Callaway Golf as promising companies early in their growth cycles. Other companies in Weiss' current research coverage include: Landry's Seafood Restaurants, McDonald's, Redhook Ale Brewery and Dollar Tree Stores. Weiss joined Montgomery Securities in September 1983. Previously, he worked at the Illinois Company, The Northern Trust, and Dean Witter Reynolds. He earned his B.A. in Economics from the University of California, Santa Barbara and his M.S. in Finance from the University of California, Los Angeles. Weiss was named to the Institutional Investor's All-American Research Team for nine consecutive years including one year when he was named in two different industries. (Ranked for stock-picking skill and earnings accuracy.) -0-

Montgomery's research department is distinguished by its strict focus on the five growth sectors of the U.S. economy -- Consumer, Finance, Media/Communications, Health Care and Technology -- and is the third largest research effort on Wall Street in these growth areas. To keep up with the growing number of public companies, Montgomery has recently expanded its research department to include 47 analysts, up from 20 at the beginning of the 1990s. These 47 analysts cover 646 companies, representing $3.5 trillion in total market value.

Montgomery Securities is one of the nation's premier investment banking and institutional brokerage firms. Dedicated to growth companies, Montgomery combines focus and specialization in research and investment banking with bulge-bracket capabilities in global distribution and large-block trading. Montgomery has offices in San Francisco, New York and Boston.

CONTACT: Montgomery Securities

Jennifer Smith, 415/249-5968

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