Press Release: October 19, 2000

WR Hambrecht + Co Names Peter Rogers Director of Research

San Francisco, CA, October 19, 2000—WR Hambrecht + Co today announced that Peter Rogers has joined the firm as Director of Research. Mr. Rogers was formerly Director of Research at Volpe Brown Whelan. Prior to joining Volpe Brown Whelan in 1997, Mr. Rogers spent 15 years as a technology analyst on Wall Street, including 10 years at Bear Stearns and Robertson Stephens.

“We are delighted to have Peter join our firm,” said Bill Hambrecht, Chairman and CEO of WR Hambrecht + Co. “He is a unique combination of a seasoned investment professional who really understands that technology is changing the landscape of the financial services industry.”

As Director of Research at WR Hambrecht + Co, Mr. Rogers will oversee a group of thirteen analysts with a universe of over 90 stocks under coverage. WR Hambrecht + Co’s real-time, in-depth research on Network Infrastructure, Wireless, Open Source and other emerging growth sectors is available to all investors at www.wrhambrecht.com.

“I am thrilled to join the team at WR Hambrecht + Co and anxious to extend WRH+Co’s leadership in providing open access to focused, insightful research,” said Peter Rogers, Director of Research at WR Hambrecht + Co. “WRH+Co has the opportunity to dramatically change the securities markets and I am eager to contribute to that effort.”