Press Releases

February 2, 2004

CAPIS to offer electronic Independent Research Network

Dallas-February 2, 2004- Capital Institutional Services, Inc., (CAPIS), a leading Independent Research provider since 1977, is pleased to announce the launch of the SageLink Independent Research Network, an online complement to their network of independent research providers. Powered by MindBranch, SageLink will allow clients to acquire comprehensive market research reports and new investment ideas from more than 350 leading independent research firms, analysts and consultants. This innovative research delivery system uses a dynamic Web-based platform and acts as a virtual research library accessible from any computer with Internet access, 24-hours a day.

"SageLink was co-developed with MindBranch as an extension of the successful CAPIS Independent Research Network, with the added convenience of online purchasing and instant access to quality research", said Dax Ainsworth, CAPIS Director of Research & Marketing. "Moreover, SageLink leverages our commitment to independence and to providing novel brokerage solutions for the institutional marketplace."

"We're pleased to extend our 10 years of experience in research aggregation and distribution to CAPIS. Our investment research offering is continually growing, and our industry research database is unmatched by competitors" said Arik Keller, President of MindBranch. MindBranch will not only extend investment research to the platform, but will also allow CAPIS clients to search their database of 40,000 industry research, including analyst reports, newsletters, databases and company profiles.

SageLink is a company-wide research solution offering the flexibility to set spending limits and budgets per user, and the ability to share reports between managers- features that provide access to cutting edge ideas, save money and reduce redundancy. User homepages have a customizable Research Dashboard allowing them to organize and access reports already purchased and make new purchases with the click of a button. The Dashboard can also be set to alert users when new research is published based on keywords of interest. As an added service, users will receive a weekly newsletter containing current industry news items and information about new products and special savings.

For more information on SageLink, visit www.capissagelink.com, or contact Dax Ainsworth of Capital Institutional Services at 800.247.6729.

About Capital Institutional Services, Inc.

A leading U.S. institutional brokerage firm specializing in global agency trading, advanced order execution solutions, and independent research distribution for asset managers and Plan Sponsors, Capital Institutional Services, Inc. (CAPIS) has successfully developed and provided an array of brokerage solutions specifically tailored to the institutional marketplace since 1977. CAPIS executes all trades on an agency basis, eliminating any conflict of interest; and plan sponsors, investment managers and broker-dealers have come to trust CAPIS for its expertise in directed brokerage, transition management and commission recapture relationships.

CAPIS is a member of the New York Stock Exchange, American Stock Exchange, Pacific Stock Exchange, the National Association of Securities Dealers, and SIPC, and maintains offices in Dallas and New York. For more information, visit www.capis.com or call the CAPIS Research Department at 800.247.6729.

About MindBranch, Inc.

MindBranch, founded in 1992, is a market research services company providing research from 350 leading research firms. Clients benefit from a single, objective source for their research needs, saving time and resources. MindBranch distributes market research reports, stock research, newsletters, directories, subscriptions, and custom research in over 130 industry segments. For more information visit www.mindbranch.com or call 1-800-774-4410 or 1-413-458-7600.