Underwriter (Number of IPOs As Lead Underwriter)

Gross Proceeds (M)

Lehman Brothers Inc. (9)

$868.1

UBS Warburg/Warburg Dillon Read LLC (8)

$812.0

Deutsche Banc Alex. Brown (6)

$761.9

CIBC World Markets (6)

$754.7

Merrill Lynch & Co. (5)

$551.7

Morgan Stanley Dean Witter (4)

$541.0

J.P. Morgan & Co. (5)

$535.2

Robertson Stephens Inc. (5)

$433.2

Bear, Stearns & Co. Inc. (3)

$366.4

Chase H&Q (5)

$334.2

S.G. Cowen Securities Corp. (4)

$324.6

Donaldson, Lufkin & Jenrette (2)

$287.6

Goldman, Sachs & Co. (2)

$232.0

Salomon Smith Barney (2)

$212.4

U.S. Bancorp Piper Jaffray (2)

$158.8

Credit Suisse First Boston (2)

$135.7

Thomas Weisel Partners LLC (2)

$127.9

ING Barings LLC (1)

$124.2

Goldman Sachs International (1)

$119.1

Bank of America Securities (1)

$79.8

Roth Capital Partners (1)

$52.0

Prudential Vector Healthcare Group (1)

$48.9

* 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.