Corby Capital Markets Names David Pendergast Vice President of Private Clients Group

Corby Capital Markets, Inc., the Boston based investment bank that specializes in tax-free municipal bonds, has appointed David Pendergast as Vice President of the firms newly expanded Private Clients Group.

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Corby Capital Markets Names David Pendergast

Vice President of Private Clients Group

DATELINE: BOSTON, MA; OCTOBER 23, 2003...Corby Capital Markets, Inc., the Boston based investment bank that specializes in tax-free municipal bonds, has appointed David Pendergast as Vice President of the firms newly expanded Private Clients Group.

The Private Clients Group offers individual investors the same price, expertise and service advantages Corby has provided to institutional investors since 1975. Private investors that choose to manage their bond portfolios with Corby, deal directly with bond specialists on their trading desk with access to most fixed-income markets.

As Vice President of the Private Clients Group, Pendergast is responsible for the firms retail client base whose bond portfolios exceed $700 million. Pendergast has over 25 years of experience managing the investment needs of high net-worth individuals and institutional investors, as well as with trust departments, insurance companies and bank portfolios.

Our Private Clients Group caters to the investment needs of individual investors, providing them with the same service and execution as our institutional clients," noted Pendergast.

Prior to joining Corby Capital, Pendergast was Vice President of Bank of Bostons private clients group, managing their Boston office for 15 years. He holds a BA in English from Lake Forest College in Illinois. Pendergast is a licensed 7 and 63 Registered Representative, a municipal securities principal and a member of the Bond Club and the Municipal Bond Club of Boston.

Pendergast is professional mountaineer who has climbed mountains all over the world including Nepal, Switzerland, India and Pakistan. Professional mountaineers are highly regarded in Europe and Pendergast had several sponsors and tested new equipment. Pendergast is a native and resident of Westwood, MA.

ABOUT CORBY CAPITAL

Established in 1975, is a nationally recognized leader in the investment, underwriting and distribution of fixed-income securities. Corby Capital provides bank trust departments, investment counseling firms, money managers, insurance companies and private investors with exceptional access to a broad range of domestic fixed-income markets including municipal bonds, government agencies, corporate bonds and mortgage-backed securities.

Corby Capital Markets, Inc. averages more than $4 billion annually in tax-free bond trading volume. In 2002, Corby Capital was the sole senior underwriter on 43 municipal bonds issues in New England totaling in excess of $500 million. Corby Capital remains locally owned and operated in New England and is one of the last investment banks to keep a trading floor in New England. Corby Capital is a member NASD.

Corby Capital is located at 10 High Street, Boston, MA. For more information, call Toll Free 800-736-7076 or 617-482-8780 or visit our website at www.corbycapital.com.

The information provided is neither financial advice nor a recommendation, offer, or solicitation to engage in a financial transaction. Corby Capital Markets, Inc. makes no representation concerning its accuracy, completeness or fairness. The past performance of a market measure or instrument does not guarantee or predict future performance. Opinions and estimates may change without notice. The trade ideas described in this document are not appropriate for everyone, so a party must make its own independent legal, tax, accounting, and financial evaluation of the merits and risks of such ideas before seeking to implement them. This information should not be reproduced or circulated without Corby Capital Market's express written consent. Furthermore, all offerings are subject as to availability and pricing.