Stone & Youngberg Awards Benjamin J. Baum Scholarship to San Francisco Public School Student

Business Wire, July 2, 2008

Lowell High School Graduate Elizabeth Chan to Attend UC Berkeley in Fall '08

SAN FRANCISCO -- Stone & Youngberg, a leading financial services firm and the nation's top underwriter of California municipal bonds1, announced that its Benjamin J. Baum scholarship, established in 2004 to recognize the achievements of San Francisco public school graduates going on to attend the University of California at Berkeley, has been granted to Elizabeth Chan.

Ms. Chan, who immigrated to the United States with her family just eight years ago, is a Lowell High School graduate who maintained a cumulative weighted 4.54 GPA while also participating in cross country, track, student government, and orchestra. While at Lowell, Ms. Chan was elected School Site Council Student Representative and was the captain of the school's cross country team. Outside the classroom, she took violin lessons, was a library volunteer, worked part time jobs, and participated in Youth for Asian Theaters, a group of entertainers composed entirely of high school students. Ms. Chan will attend the University of California at Berkeley Haas School of Business in the fall, where she will study Business Administration.

"In our 76-year history as an independent San Francisco firm, we've always believed in investing in the community, and there's no better way to do that than to help local students receive a quality education," said Ken Williams, President and CEO of Stone & Youngberg.

The scholarship was established by Stone & Youngberg in 2004 to recognize the important contributions of former colleague Ben Baum, who began his career in the firm's mail room in 1932, and ultimately led the firm as managing partner for thirty-five years. Baum, who passed away at the age of ninety-one in 2003, was a third-generation San Franciscan who graduated from Lowell High School and attended the University of California at Berkeley.

The scholarship grants San Francisco public school recipients $1,000 for each year of collegiate study. It is distributed through the San Francisco School Alliance, an independent non-profit organization committed to ensuring that every San Francisco public school student receives a world class education.

Stone & Youngberg, founded in 1931, is one of the oldest private investment banks operating in the U.S. The firm offers underwriting, advisory, and investment services across the country to state and local governments, non-profit organizations, and institutional and private investor clients through its offices in San Francisco, Los Angeles, San Diego, and Big Bear Lake, CA, and in New York, Chicago, Phoenix, Richmond, VA, and Annapolis, MD.

For more information on the Stone & Youngberg, visit www.syllc.com

About Stone & Youngberg: Stone & Youngberg Holdings LLC is a financial services company providing a range of products and services through three subsidiary businesses. Stone & Youngberg LLC, founded in 1931 and member FINRA/SIPC, specializes in the origination and sale of fixed-income securities. The firm led or co-managed the sale of 214 municipal bond issues totaling $4.7 billion in 2007.a In addition to bond underwriting and sales, Stone & Youngberg provides investment services to individuals, institutions, and government agencies and offers a wide variety of tax-exempt and taxable securities. S&Y Asset Management LLC is Stone & Youngberg's wealth management company and develops investment portfolios and products tailored to affluent individuals. S&Y Capital Group LLC is a private real estate investment, development, and consulting company.

Stone & Youngberg is headquartered in San Francisco with offices in Los Angeles, San Diego, New York, Chicago, Phoenix, Richmond, VA, Annapolis, MD, and Big Bear Lake, CA. Additional information is available at www.syllc.com or by calling 800-447-8663.

a Source: Thomson Reuters 2008.