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2006 Industry Rankings and First Southwest Company Business Highlights

First Southwest Company is proud of its 60-year history as one of the country’s leading financial advisory and investment banking firms. The firm has a highly coveted reputation for providing innovative thinking, uncompromising integrity and personalized service.

First Southwest is among the top firms nationally in the public finance industry, representing more of America's cities, counties and schools combined than most other firms. Additionally, the firm's range of services designed to complement its financial advisory practice is more comprehensive than any other investment banking firm in the industry.

First Southwest Company 2006 National Financial Advisory Rankings

First Southwest Company has ranked nationally as the second largest financial advisor based on the total number of issues, and the third largest financial advisor based on total volume for the last eight years.

Additional national rankings include:

Rankings Based on Total IssuesRankings Based on Total Volume
No. 1 in cities/townsNo. 2 in cities/towns
No. 1 in utilities financingsNo. 2 in utilities financings
No. 2 in education financingsNo. 2 in education financings
No. 2 in transportation financingsNo. 3 in transportation financings
No. 6 in airport financingsNo. 5 in public facilities financings
No. 7 in public facilities financingsNo. 7 in airport financings

First Southwest Company Regional Financial Advisory Rankings

Southwest Rankings
• No. 1 on total number of issues in 2006
• No. 1 on total volume in 2006
- Ranked No. 1 for 12consecutive years, and for 23 of the last 25 years

Southeast Rankings
• No. 9 on total number of issues in 2006
• No. 5 on total volume in 2006

New England Rankings
• No. 1 on total number of issues in 2006
• No. 3 on total volume in 2006

Northeast Rankings
• No. 3 on total number of issues in 2006
• No. 4 on total volume in 2006

West Rankings
• No. 14 on total number of issues in 2006
• No. 8 on total volume in 2006

Performance Makes the Difference

First Southwest Company is one of the country’s top-ranked financial advisory and investment banking firms. The company has an unrivaled reputation for providing clients with valuable insight and innovative solutions to meet their needs.

First Southwest Company
2006 Financial Advisory State-Specific Highlights

California
• Ranked No. 23 on total number of issues in 2006
• Ranked No. 8 on total volume in 2006

Florida
• Ranked No. 11 on total number of issues in 2006
• Ranked No. 4 on total volume in 2006

Massachusetts
• Ranked No. 1 on total number of issues in 2006
• Ranked No. 3 on total volume in 2006
• Financial advisor to 30 of the state’s 44 cities

Mississippi
• Ranked No. 2 on total number of issues in 2006
• Ranked No. 2 on total volume in 2006

New Hampshire
• Ranked No. 2 on total number of issues in 2006
• Ranked No. 2 on total volume in 2006

Rhode Island
• Ranked No. 1 on total number of issues in 2006
• Ranked No. 1 on total volume in 2006
• Represent 32 of the state’s 39 municipalities along with the State of Rhode Island, three regional school districts and eight state agencies

Texas
• Ranked No. 1 on total volume in 2006
• Ranked No. 1 on total number of issues in 2006
• Ranked No. 1 bank qualified municipal underwriter in 2006
• Ranked No. 9 municipal underwriter in 2006

Ranking Source: Thomson Financial Securities Data



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