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KINNARD INVESTMENTS SIGNS LETTER OF INTENT TO ACQUIRE MOORE JURAN & COMPANY

 MINNEAPOLIS, Oct. 20 /PRNewswire/ -- Kinnard Investments, Inc. (NASDAQ-NMS: KINN) through its broker-dealer subsidiary, John G. Kinnard & Company of Minneapolis, has announced it has signed a letter of intent with Moore Juran & Company, Inc., to acquire that investment firm this November.
 Terms of the acquisition were announced at $2.9 million worth of Kinnard Investments stock and cash in an allocation to be determined by the November 30th closing date.
 It is also anticipated that Thomas E. Moore, Moore & Juran president, will join John G. Kinnard as an executive vice president and be named to the Kinnard Investments Board of Directors.
 "This acquisition is consistent with our plans to grow our fixed income operation and to enhance non-equity revenue streams," said Thomas J. Mulvaney, John G. Kinnard chief executive officer and president. "Moore Juran is a highly respected and quality-minded firm, and we are pleased they have agreed to join us."
 Moore Juran & Company was founded in 1972, employs 32 people, and is based in downtown Minneapolis. It also manages an office in Bismark, N.D. The Minneapolis group is expected to move into Kinnard's new headquarters -- Kinnard Centre -- when the company formally moves in May, 1994.
 "I am pleased to associate with the Kinnard name," said Thomas Moore. "The acquisition gives our employees a great opportunity to share in the growth of one of the area's fastest growing investment firms."
 John G. Kinnard was founded in 1944, and operates 30 branch offices in eight states across the upper Midwest. Kinnard Investments, Inc. is a member of the National Market Exchange and trades on the Over-the- Counter exchange under the symbol KINN.
 -0- 10/20/93 R
 /CONTACT: Matthew Kyler, marketing director of John G. Kinnard, 612-370-2756/
 (KINN)


CO: Kinnard Investments, Inc. ST: Minnesota IN: FIN SU: TNM

DB-CP -- MN028 -- 4583 10/20/93 12:33 EDT
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Publication:PR Newswire
Date:Oct 20, 1993
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