D.A. Davidson & Co. Opens in Pasadena; New Office to Provide Fixed Income Sales to Institutional Clients

D.A. Davidson & Co. announced today the opening of a new office in Pasadena, Calif., that will provide fixed income sales to institutional investors. The office is located at 225 South Lake Avenue, Suite 300.

The office represents the latest growth in ongoing growth for D.A. Davidson & Co.'s fixed income capital markets group, which serves clients around the United States from offices in 12 states. The team includes an institutional sales force with extensive experience in serving the fixed income needs of banks and credit unions, insurance companies, bond funds, money managers and municipalities.

James Rice, Senior Vice President, Taxable Fixed Income Trading Manager, oversees the new office. Joining in Pasadena are Leslie Wells, Senior Vice President, Institutional Sales, and Jeanell Wells, Executive Assistant.

"We are very pleased to continue to stretch our geographic boundaries and to be able to do so with the addition of these seasoned professionals to our team," said Rice. "This office will allow us to both expand the breadth of our capabilities and to better serve our clients everywhere."

Leslie Wells has previous experience as national director at Hoefer & Arnett, Inc. He was also employed as capital markets vice president at Union Bank and capital markets vice president at Bank of America. He holds an associate of arts degree from Pasadena City College and is actively involved in the California Municipal Treasurers Association, California Society of Municipal Finance Officers and California Associates Country Treasurers and Tax Company.

Jeanell Wells also joins D.A. Davidson & Co. with previous experience from Hoefer & Arnett, Inc., where she served as an executive assistant, after previously serving as a vice president at Bank of America. She attended Sawyers Business College.

Both will be responsible for working with institutional clients to provide fixed income sales, and will assist in the continued growth of sales for D.A. Davidson & Co.

About D.A. Davidson & Co.

D.A. Davidson & Co. is a full-service brokerage and investment banking firm. With a 71-year history, D.A. Davidson & Co. has demonstrated expertise and a commitment to public sector clients. The Fixed Income Capital Markets group provides expertise in a broad array of specialties, including multi-family housing, school finance, health care, higher education, project financings, charter schools and special districts. In 2005, D.A. Davidson & Co. served as lead manager on 209 transactions, ranking the firm 13th nationwide in transaction volume. As of September 2005, D.A. Davidson & Co. had over $79 million in equity and $41 million in net capital, which provides the firm with the financial strength to underwrite municipal debt transactions in excess of $500 million.

About Davidson Companies

Based in Montana, Davidson Companies is one of the nation's leading financial services holding companies, offering a full menu of integrated brokerage, capital markets, money management, trust and wealth management services. Davidson Companies had over $21 billion of assets under management as of July 2006. The company is employee-owned, with more than 930 associates working in 16 states.

Besides operating D.A. Davidson & Co., Davidson Companies also owns Davidson Fixed Income Management, a registered investment adviser providing fixed income money management and advisory services; Davidson Trust Co., a wealth management and trust company; Davidson Investment Advisors, a professional money management firm; and Davidson Travel, a full-service travel agency.

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