Press Release

To receive a copy of the 2007 Analyst’s Best Picks List, please contact your Raymond James financial advisor or use the Office Locator to find an office convenient to you.

Release No. 1206-20
January 2, 2007

RAYMOND JAMES RELEASES
2007 ANALYST’S BEST PICKS LIST

ST. PETERSBURG, Fla – The Raymond James & Associates’ Equity Research Department has released its popular Best Picks list for 2007 to Raymond James’ financial advisors for their exclusive use with clients. The list, according to David Henwood, CFA and chief investment officer at Raymond James & Associates, highlights individual stocks that Raymond James’ analysts expect to produce superior overall results during the upcoming year.

This year’s Best Picks list includes nine stocks that have undergone a rigorous screening process and, according to Henwood, “… appears to feature companies with above-average growth prospects and in most cases business opportunities that could lift 2007 EPS estimates for these companies over the course of the next 12 months.”

Since 1996, a total of 120 stocks have been recommended through the Analysts Best Picks list. Of this total, 85 advanced (70.8%) and 35 declined (29.2%) within the recommended holding period. The ten-year average return for the Best Picks list was 38.3% as compared to 11.1% for the S&P 500*. An investor would incur commissions to transact these recommendations.

According to Henwood, list submission is limited to analysts with significant research experience and a minimum of three years following the recommended industry as lead analyst or five years of total sell-side experience. Analysts choose to participate and may submit only one stock for the list, which may only contain one company from any specific industry. In addition, because this is a static, one-year list, only those companies with a “Strong Buy” rating from a Raymond James analyst qualify.

“Each company must also have a market capitalization of a least $500 million and a stock price greater than $10,” Henwood continued. “If the stock price is under $20, the company is required to show market capitalization of at least $1 billion. Other conditions, such as trading volume per day of at least 300,000 shares based on the last two months of data, are also considered.”

Henwood reminds investors that individual results will vary and transaction costs related to investing in these stocks will affect overall performance. There is no assurance that the Best Picks will achieve the results expected and investors may incur profits or losses.

“The best strategy is to invest for the long term. Although incorporating stocks recommended by our Equity Research Department into an overall portfolio may be a good idea for many investors, investing in individual stocks, particularly small- and mid-cap issues, is not for everyone. It takes a strong risk tolerance, not to mention a good understanding of market cycles, to keep perspective in a down market.”

“As we have learned due to the subpar performance of the Analysts’ Best Picks for 2006,” said Henwood, “past performance is not indicative of future results, but based on the overall superior 11-year record of our Analysts’ Best Picks list, we have high hopes for the 2007 edition.”

About Raymond James & Associates

Raymond James & Associates, which has built a national reputation during the past 44 years as a leader in financial planning for individuals, corporations and municipalities, is a wholly owned subsidiary of Raymond James Financial, Inc. (NYSE-RJF), a financial services holding company. Through its three broker/dealer subsidiaries, Raymond James Financial has more than 4,700 financial advisors serving 1.5 million accounts in 2,200 locations throughout the United States, Canada and overseas. In addition, total client assets are approximately $190 billion, of which approximately $33.7 billion are managed by the firm’s asset management subsidiaries.

* On a total return basis with performances averaged as if an equal dollar allocation was made to each stock at the beginning of the period and held until 12/31 of the following year. Returns for 2006 calculated through the close of December 8, 2006.

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