AGE Edwards AG

ST. LOUIS, Jan. 25 /PRNewswire-FirstCall/ -- Officials at financial-services company A.G. Edwards (NYSE:AGE) announced today the opening of a new municipal bond trading desk in California. Working out of the firm's Beverly Hills branch office, the new regional trading desk will be responsible for municipal secondary trading for the states of California, Nevada and Hawaii. The activities of the California desk will service the client needs of the St. Louis-based firm's entire branch network, which encompasses more than 730 offices nationwide. "With our significant presence already in the region, and the fact that California is one of the largest issuers of municipal bonds in the country, it just made sense for us to have a trading desk in the state," said John Harrington, vice president and director of Fixed Income for A.G. Edwards. "We have a total of 68 branch offices in California, Nevada and Hawaii, and we also run a public finance office in Los Angeles, so we know these markets well." Heading the effort in California will be Brian Martin, a senior trader who specializes in West Coast municipal issues. Martin has relocated from the firm's headquarters to manage the California trading desk, and he will be joined by bond trader Derek Gipson and product specialist Carmelinda Vellanoweth. Gipson brings more than 15 years experience in municipal bond trading, most recently serving as a vice president at Credit Suisse First Boston since 1991. Vellanoweth comes to A.G. Edwards after more than 20 years at Wachovia Securities, with experience in fixed-income marketing and municipal bonds. The California bond desk becomes the second regional trading desk for the A.G. Edwards Fixed Income department, as the firm already runs a similar office in Jupiter, Florida that handles trading of issues from Florida, Georgia, Alabama, North Carolina, South Carolina, Puerto Rico, Guam and the Virgin Islands. About A.G. Edwards Drawn to the firm's client-first philosophy, individuals and businesses have turned to A.G. Edwards & Sons, Inc. for sound advice and access to a wide array of investment products and services that can help them meet their financial goals and objectives. Founded in 1887, A.G. Edwards and its affiliates employ nearly 7,000 financial consultants in more than 700 offices nationwide and two European locations in London and Geneva. More information can be found on agedwards.com . How we do business A.G. Edwards generally acts as a broker-dealer, but may act as an investment advisor on designated accounts, and the firm's obligations will vary with the role it plays. When working with clients the firm generally acts as a broker-dealer unless specifically indicated in writing. To better understand the differences between brokerage and advisory services, please consult Important Information About Your Relationship With A.G. Edwards on agedwards.com/disclosures . First Call Analyst: FCMN Contact: byron.goodrich@agedwards.com DATASOURCE: A.G. Edwards CONTACT: Margaret Welch, +1-314-955-5912, , or Byron Goodrich, +1-314-955-3235, , both of A.G. Edwards Web site: http://www.agedwards.com/ http://agedwards.com/disclosures

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