Stone & Youngberg Hires Former Executive Director of the State of Arizona School Facilities Board: Economist Randie Stein Will Join the Firm's Phoenix Office

Business Wire, Sept 27, 2004

PHOENIX -- Stone & Youngberg (S&Y), a fixed-income securities firm and one of the largest underwriters of tax-exempt local government debt in the West, announced today that it has hired Randie Stein to join the firm's Phoenix Public Finance Department. Stein, a former Executive Director of the Arizona School Facilities Board, most recently ran her own public policy consultancy focusing on fiscal analysis and education finance issues. She also has held several significant staff positions with the Arizona State Senate, including Research Staff Director, Finance Committee Analyst, and Majority Staff Economist.

"We are thrilled that Randie is joining the firm. She brings an intelligent, informed approach to public finance, and she is especially knowledgeable in the areas of public facilities, financial analysis, and education finance," said Grant Hamill, Managing Director, S&Y. "Randie will help us extend our expertise in municipal finance to better serve our current clients, and will help us make inroads with new clients as the economy here continues to flourish."

"I am extremely excited about joining S&Y and contributing to the firm's continued growth," said Stein. "As a consultant, I have worked with many firms in the area, and I believe S&Y has the clearest vision regarding the region's future and its public finance and infrastructure needs," said Stein.

As the head of the Arizona School Facilities Board, Stein coordinated the allocation of over $400 million of funds for new school construction, deficiencies correction, and building renewal projects. She served as Research Staff Director for the Arizona State Senate from 1993 to 1998, and prior to that served as a Finance Committee Analyst and Majority Staff Economist, and held a number of other high-level staff positions. Stein's professional affiliations include serving as President of the Arizona Economic Round Table and as a member of Governor Janet Napolitano's Citizens Finance Review Commission. She is a frequent speaker on various public policy issues and has authored a number of reports on fiscal policy, tax analysis, and the legislative process.

Stein has a Bachelor of Arts degree in Economics from the University of Arizona and a Master of Science degree in Economics from Arizona State University. Stein and her husband Lee and their two children, Alex (12) and Elizabeth (10), are Phoenix residents.

About Stone & Youngberg: Founded in 1931, Stone & Youngberg is a fixed-income securities firm headquartered in San Francisco, with regional offices in Los Angeles, New York, Phoenix, San Diego, Sherman Oaks, CA and Richmond, VA. As one of the leading underwriters of tax-exempt local government debt in the West, Stone & Youngberg underwrote over 250 new municipal bond issues in California, Arizona, Nevada, and eight other states in 2003. In addition to underwriting, the firm provides investment services to individuals and institutions and offers a variety of tax-exempt and taxable securities. Further information is available at www.syllc.com.