Evaluation Summary: Investment Bankers

First
Ranking Doug Manual Southwest Estrada Average Final
Evanson Janelle Okorie Gallegos Phyllis Garcia Co. Hinojosa Ranking Ranking
National Firms
Bear Stearns & Co. 4 4 7 5 3 6 4.83 6
Citigroup Global Markets, Inc. 2 6 4 3 2 5 3.67 3
Goldman Sachs & Co. 7 5 5 4 6 1 4.67 5
JPMorgan Securities, Inc. 6 7 3 5 5 7 5.50 7
Lehman Brothers 3 2 8 2 6 2 3.83 4
Morgan Stanley & Co., Inc. 5 3 6 1 1 4 3.33 1
USB Financial Services 1 1 2 7 7 3 3.50 2
Wachovia Bank, N.A. 8 8 1 8 8 8 6.83 8

Regional Firms
A.G. Edwards & Sons, Inc. 2 2 3 1 1 3 2.00 1
Banc of America Securities 1 1 2 3 8 4 3.17 3
Coastal Securities 7 8 5 6 2 5 5.50 6
Morgan Keegan & Co., Inc. 3 3 4 4 6 1 3.50 4
RBC Dain Rauscher, Inc. 5 3 1 2 4 2 2.83 2
SAMCO Capital Markets 6 5 8 8 5 6 6.33 7
Southwest Securities 4 6 7 5 2 7 5.17 5
Stephens, Inc. 8 7 6 7 7 8 7.17 8

SMWBE Firms
Apex Pryor Securities 7 7 5 4 7 7 6.17 7
Cabrera Capital Markets, Inc. 6 3 2 5 4 5 4.17 3
Jackson Securities, Inc. 5 6 2 7 5 4 4.83 6
Loop Capital Markets, LLC 4 5 6 6 3 2 4.33 4
Popular Securities, Inc. 3 4 4 3 6 6 4.33 4
Samuel A. Ramirez & Co., Inc. 2 2 1 2 2 3 2.00 1
Siebert Branford Shank & Co. 1 1 7 1 1 1 2.00 1
 First
Ranking Doug Manual Southwest Estrada Average
Evanson Janelle Okorie Gallegos Phyllis Garcia Co. Hinojosa Total Score
National Firms
Bear Stearns & Co. 825 735 1985 715 822.5 780 5,862.50 977.08
Citigroup Global Markets, Inc. 895 665 2035 730 830 800 5,955.00 992.50
Goldman Sachs & Co. 770 715 2025 720 777.5 1000 6,007.50 1,001.25
JPMorgan Securities, Inc. 797.5 565 2045 715 780 745 5,647.50 941.25
Lehman Brothers 835 795 1925 740 822.5 965 6,082.50 1,013.75
Morgan Stanley & Co., Inc. 810 765 2020 830 935 905 6,265.00 1,044.17
USB Financial Services 897.5 865 2055 680 642.5 925 6,065.00 1,010.83
Wachovia Bank, N.A. 595 525 2090 560 440 720 4,930.00 821.67

Regional Firms
A.G. Edwards & Sons, Inc. 687.5 600 1925 800 767.5 795 5,575.00 929.17
Banc of America Securities 715 650 1975 630 417.5 785 5,172.50 862.08
Coastal Securities 450 315 1920 580 685 765 4,715.00 785.83
Morgan Keegan & Co., Inc. 650 555 1915 595 587.5 855 5,157.50 859.58
RBC Dain Rauscher, Inc. 545 555 2015 660 680 820 5,275.00 879.17
SAMCO Capital Markets 485 410 1790 490 632.5 730 4,537.50 756.25
Southwest Securities 552.5 375 1845 585 685 710 4,752.50 792.08
Stephens, Inc. 445 370 1895 500 435 650 4,295.00 715.83

SMWBE Firms
Apex Pryor Securities 500 555 1930 705 510 595 4,795.00 799.17
Cabrera Capital Markets, Inc. 510 620 1965 650 730 680 5,155.00 859.17
Jackson Securities, Inc. 540 580 1965 620 660 695 5,060.00 843.33
Loop Capital Markets, LLC 585 595 1910 630 855 755 5,330.00 888.33
Popular Securities, Inc. 610 600 1945 725 610 650 5,140.00 856.67
Samuel A. Ramirez & Co., Inc. 632.5 675 1985 795 870 740 5,697.50 949.58
Siebert Branford Shank & Co. 677.5 770 1830 835 965 765 5,842.50 973.75
Average
Ranking

6
5
4
7
2
1
3
8

1
3
6
4
2
7
5
8

7
4
6
3
5
2
1
Evaluation Summary: Investment Bankers

First
Ranking Doug Phyllis Southwest Estrada Average Final
Evanson Janelle Okorie Garcia Co. Hinojosa Ranking Ranking
National Firms
Bear Stearns & Co. 4 4 5 3 6 4.40 6
Citigroup Global Markets, Inc. 2 6 3 2 5 3.60 3
Goldman Sachs & Co. 7 5 4 6 1 4.60 5
JPMorgan Securities, Inc. 6 7 5 5 7 6.00 7
Lehman Brothers 3 2 2 6 2 3.00 4
Morgan Stanley & Co., Inc. 5 3 1 1 4 2.80 1
USB Financial Services 1 1 7 7 3 3.80 2
Wachovia Bank, N.A. 8 8 8 8 8 8.00 8

Regional Firms
A.G. Edwards & Sons, Inc. 2 2 1 1 3 1.80 1
Banc of America Securities 1 1 3 8 4 3.40 3
Coastal Securities 7 8 6 2 5 5.60 6
Morgan Keegan & Co., Inc. 3 3 4 6 1 3.40 4
RBC Dain Rauscher, Inc. 5 3 2 4 2 3.20 2
SAMCO Capital Markets 6 5 8 5 6 6.00 7
Southwest Securities 4 6 5 2 7 4.80 5
Stephens, Inc. 8 7 7 7 8 7.40 8

SMWBE Firms
Apex Pryor Securities 7 7 4 7 7 6.40 8
Cabrera Capital Markets, Inc. 6 3 5 4 5 4.60 3
Jackson Securities, Inc. 5 6 7 5 4 5.40 7
Loop Capital Markets, LLC 4 5 6 3 2 4.00 4
Popular Securities, Inc. 3 4 3 6 6 4.40 4
Samuel A. Ramirez & Co., Inc. 2 2 2 2 3 2.20 1
Siebert Branford Shank & Co. 1 1 1 1 1 1.00 1
Popular Rank In Regional Firms 4 2 2 6 8 4.40 5

First
Ranking Doug Phyllis Southwest Estrada Average Average
Evanson Janelle Okorie Garcia Co. Hinojosa Total Score Ranking
National Firms
Bear Stearns & Co. 825 735 715 822.5 780 3,877.50 775.50 6
Citigroup Global Markets, Inc. 895 665 730 830 800 3,920.00 784.00 5
Goldman Sachs & Co. 770 715 720 777.5 1000 3,982.50 796.50 4
JPMorgan Securities, Inc. 797.5 565 715 780 745 3,602.50 720.50 7
Lehman Brothers 835 795 740 822.5 965 4,157.50 831.50 2
Morgan Stanley & Co., Inc. 810 765 830 935 905 4,245.00 849.00 1
USB Financial Services 897.5 865 680 642.5 925 4,010.00 802.00 3
Wachovia Bank, N.A. 595 525 560 440 720 2,840.00 568.00 8

Regional Firms
A.G. Edwards & Sons, Inc. 687.5 600 800 767.5 795 3,650.00 730.00 1
Banc of America Securities 715 650 630 417.5 785 3,197.50 639.50 3
Coastal Securities 450 315 580 685 765 2,795.00 559.00 6
Morgan Keegan & Co., Inc. 650 555 595 587.5 855 3,242.50 648.50 4
RBC Dain Rauscher, Inc. 545 555 660 680 820 3,260.00 652.00 2
SAMCO Capital Markets 485 410 490 632.5 730 2,747.50 549.50 7
Southwest Securities 552.5 375 585 685 710 2,907.50 581.50 5
Stephens, Inc. 445 370 500 435 650 2,400.00 480.00 8

SMWBE Firms
Apex Pryor Securities 500 555 705 510 595 2,865.00 573.00 7
Cabrera Capital Markets, Inc. 510 620 650 730 680 3,190.00 638.00 4
Jackson Securities, Inc. 540 580 620 660 695 3,095.00 619.00 6
Loop Capital Markets, LLC 585 595 630 855 755 3,420.00 684.00 3
Popular Securities, Inc. 610 600 725 610 650 3,195.00 639.00 5
Samuel A. Ramirez & Co., Inc. 632.5 675 795 870 740 3,712.50 742.50 2
Siebert Branford Shank & Co. 677.5 770 835 965 765 4,012.50 802.50 1