Wedbush Morgan Securities Co-Lead Manages $12.65 Million Secondary Offering for Obie Media Corp

Business Wire, August 12, 1999

LOS ANGELES--(BUSINESS WIRE)--Aug. 12, 1999--

Wedbush Morgan Securities announced that it co-lead managed an offering of 1.15 million shares of common stock for Obie Media Corp. (NASDAQ:OBIE) at $11 per share.

Obie Media Corp., with headquarters in Eugene, Ore., is an out-of-home advertising company that markets advertising space primarily on transit vehicles and outdoor advertising displays (billboards and wallscape).

Wedbush Morgan Securities served as co-lead manager of the underwriting syndicate along with Pacific Crest Securities.

Wedbush Morgan Securities, based in Los Angeles, provides a full array of corporate finance, research, trading, institutional sales, correspondent clearing and retail brokerage services. The company recently launched E InvestmentBank (http://www.einvestmentbank.com), providing investors direct access to securities offerings including IPOs, secondary offerings and private placements.

The firm has sales offices in Los Angeles, San Diego, San Francisco, Menlo Park, Newport Beach, Seattle, Phoenix, Las Vegas, Portland, Eugene, Salem, Denver, Honolulu, Anchorage and Fairbanks, and institutional offices in New York and Boston. It also provides securities transaction execution and clearing services to more than 1,000 investment executives at 125 correspondent brokerage firms nationwide.

Copies of the prospectus may be obtained from Wedbush Morgan Securities on the Internet at http://einvestmentbank.com/obie.html or at 1000 Wilshire Blvd., Los Angeles, Calif. 90017; Telephone: 213/688-8000, and from Pacific Crest Securities, 111 SW Fifth Ave., 42nd Floor, Portland, Ore. 97204. Telephone: 503/248-0721.