| Underwriter (Number Of Offerings As Lead Or Co-lead Underwriter) | After-Market Performance (Average) |
| Piper Jaffray & Co. (4) | +42% |
| CIBC World Markets (9) | +41% |
| Banc of America Securities (4) | +35% |
| Goldman, Sachs & Co. (6) | +33% |
| Merrill Lynch & Co. (7) | +32% |
| Punk Ziegel & Co. (1) | +28% |
| Ferris, Baker Watts (1) | +24% |
| Robert W. Baird & Co. (1) | +15% |
| Deutsche Bank Securities (4) | +10% |
| Needham & Co. (1) | +9% |
| Morgan Stanley & Co. (10) | +8% |
| Lazard Capital Markets (2) | +3% |
| UBS Investment Bank (15) | +2% |
| Pacific Growth Equities (3) | -5% |
| JP Morgan Securities (9) | -6% |
| WR Hambrecht + Co. (3) | -9% |
| SG Cowen & Co. (9) | -11% |
| Thomas Weisel Partners (2) | -12% |
| Wachovia Capital Markets (1) | -13% |
| Lehman Brothers (6) | -21% |
| Bear, Stearns & Co. (7) | -22% |
| C.E. Unterberg, Towbin (1) | -22% |
| ThinkEquity Partners (1) | -22% |
| Credit Suisse First Boston (3) | -36% |
| Jefferies & Co. (1) | -37% |
| Adams Harkness (1) | -50% |
| Citigroup (1) | -50% |
| First Dunbar Securities (1) | -55% |
| # After-market performance is expressed as the percent change in stock price between the offering price and the closing price on 12/31/05. For underwriters with multiple offerings, the after-market performance (as a percent change) was calculated for each stock in that underwriter's "group," the percentage summed, and then averaged. | |