Wedbush Morgan Securities Research Scores High in Rankings in Forbes.com/Starmine Analysts Survey

Business Wire, May 7, 2004

Business Editors

LOS ANGELES--(BUSINESS WIRE)--May 7, 2004

Wedbush Morgan Securities' research analysts scored top rankings for their 2003 performances this week in the annual Forbes.com/Starmine survey.

Having one-third of Wedbush publishing analysts placed in the top-tier of their respective categories is virtually unmatched by other securities firms in the survey.

A third of the publishing analysts at Wedbush garnered impressive scores including Scott Sutherland, ranked number three stock picker in the country overall across all industries and out of 3,200 equity analysts included in the survey, Michael Pachter, ranked number one in earnings estimate accuracy in the software category, and Keay Nakae, ranked number three in earnings estimate accuracy in the healthcare equipment and supplies category.

"As we continue to nurture and expand the research department at Wedbush, independent surveys are starting to recognize our outstanding research capabilities and the results we are generating," said Dr. Steven Gerber, the director of research at Wedbush Morgan Securities.

Gerber, who joined Wedbush Morgan Securities late last year as its new director of research with a mandate to build a first-class research effort, came from CIBC World Markets, where he was head of healthcare research.

About Wedbush Morgan Securities

Wedbush Morgan Securities is headquartered in Los Angeles and is a member of the New York Stock Exchange and other principal exchanges. The firm provides a full array of corporate finance, research, trading, institutional sales, correspondent clearing and retail brokerage services.