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JOSEPHTHAL, INTENSIFYING ITS ANALYTIC FOCUS ON GROWTH STOCKS, NAMES DENNIS MCALPINE, LAWRENCE RICE CO-DIRECTORS OF RESEARCH

 NEW YORK, April 20 /PRNewswire/ -- Josephthal, Lyon & Ross, Inc., one of the nation's fastest-growing securities brokerage and investment banking concerns, today announced that it has named Dennis B. McAlpine and Lawrence R. Rice co-directors of research.
 The appointments buttress Josephthal's continuing program to more intensely focus the firm's research capabilities on emerging growth stocks.
 Dan Purjes, Josephthal's chairman and chief executive officer, said: "Dennis is one of the most widely known and respected analysts on Wall Street and Larry is one of the most versatile and experienced analyst/managers in our business. We believe they are an ideal team to direct Josephthal's expanding research resources," Mr. Purjes said.
 Mr. Purjes said that Mr. McAlpine will oversee the department's research workload and Mr. Rice, a veteran leisure, communications and special situations analyst at Josephthal, will serve as the department's business manager. Both men are managing directors at the firm.
 He said that Josephthal's intensifying research focus on growth stocks "complements our investment banking mission -- to identify and help finance promising young growth companies between six months and a year earlier than the major bracket firms do. Dennis, Larry and the analysts have a mandate for first-rate securities analysis on the stocks of such firms and on other promising equities now getting scant attention on Wall Street."
 The Josephthal chief executive added that the firm will continue to expand its 16-analyst research staff by as much as 25 percent over the months ahead.
 The McAlpine/Rice team replaces Peter Labe, previously director of research and Jean Orr, previously assistant director of the department, who have resigned from the firm. "We thank Mr. Labe and Ms. Orr for their contributions to Josephthal and wish them every success as they pursue other opportunities in our industry," Mr. Purjes said.
 As one of Wall Street's best known experts on media and entertainment stocks during the past decade, Mr. McAlpine has followed the group at Nomura Securities' U.S. research arm, at Rothschild Inc., Oppenheimer & Co. and Mabon Securities. He joined Josephthal in January of this year. Mr. Rice has worked at the firm since 1977.
 Josephthal's staff as well as the number of its offices have approximately tripled during the past 24-months, to 1,000 and 24, respectively. The firm is a member of the New York and American Stock Exchanges and of the National Association of Securities Dealers.
 -0- 4/20/93
 /CONTACT: Scott Weisman of Josephthal, Lyon & Ross, Inc., 212-973-8853; or Tim Metz of Abernathy/MacGregor Group, Inc., 212-371-5999, for Josephthal, Lyon & Ross/


CO: Josephthal, Lyon & Ross, Inc. ST: New York IN: FIN SU: PER

SH-WB -- NY049 -- 7967 04/20/93 10:58 EDT
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Date:Apr 20, 1993
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