Underwriter (Number of Offerings As Lead Underwriter)

Gross Proceeds (M)

Morgan Stanley Dean Witter (11)

$6,191.1

Merrill Lynch & Co. (9)

$4,395.3

J.P. Morgan & Co. (9)

$3,967.3

Goldman, Sachs & Co. (6)

$2,190.7

Robertson Stephens Inc. (11)

$1,941.4

Lehman Brothers Inc. (13)

$1,850.2

CIBC World Markets (12)

$1,652.4

Deutsche Banc Alex. Brown (9)

$1,224.5

Credit Suisse First Boston (4)

$1,222.5

UBS Warburg/Warburg Dillion Read LLC (12)

$1,124.4

S.G. Cowen Securities Corp. (6)

$648.1

Chase H&Q (7)

$607.9

Prudential Vector Healthcare Group (5)

$586.9

ING Barings LLC (3)

$459.4

Bear, Stearns & Co. Inc. (3)

$366.4

U.S. Bancorp Piper Jaffray (4)

$347.3

Salomon Smith Barney (4)

$332.3

Donaldson, Lufkin & Jenrette (2)

$287.6

Bank of America Securities (2)

$169.8

Thomas Weisel Partners LLC (2)

$127.9

Goldman Sachs International (1)

$119.1

PaineWebber Inc. (2)

$111.6

Roth Capital Partners (1)

$52.0

Bank Vontobel (1)

$21.9

Paulson Investment Co. (1)

$21.8

First Security Van Kasper (1)

$16.6

Neidiger Tucker Bruner Inc. (1)

$16.2

* The offerings in this chart include only those that were completed on U.S. stock exchanges (NASDAQ, NYSE or AMEX) from January - December 2000. Gross proceeds include additional funding raised from the exercise of overallotment options, when disclosed.

# After-market performance is expressed as the percent change in stock price between the offering price and the closing price on 12/31/00. 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.