Underwriters' Performance on All Public Offerings from Jan. 1 to July 16, 2004: Full Credit to Lead Underwriter, Ranked by Gross Proceeds*

Underwriter
(Number Of Offerings As Lead Underwriter)

Gross Proceeds (M)

UBS Investment Bank (12)

$739.0

Morgan Stanley & Co. (4)

$642.4

SG Cowen Securities (9)

$392.3

Lehman Brothers (4)

$257.0

Goldman Sachs & Co. (3)

$247.5

Deutsche Bank Securities (5)

$247.0

Piper Jaffray & Co. (5)

$216.5

Merrill Lynch & Co. (2)

$203.6

Banc of America Securities (4)

$175.9

Bear, Stearns & Co. (3)

$165.2

Credit Suisse First Boston (2)

$158.7

JP Morgan Securities (2)

$149.3

Citigroup Global Markets (3)

$145.5

CIBC World Markets (2)

$127.6

Thomas Weisel Partners (3)

$122.1

Needham & Co. (2)

$106.7

RBC Capital Markets (2)

$91.3

Legg Mason Wood Walker (1)

$61.2

Ryan Beck & Co. (1)

$56.7

WR Hambrecht + Co. (1)

$59.5

Pacific Growth Equities (1)

$41.6

Lazard Freres & Co. (1)

$38.7

Roth Capital Partners (1)

$25.5

* The offerings in this chart include only those that were completed on U.S. stock exchanges from Jan. 1 to July 16, 2004. Gross proceeds include additional funding raised from the exercise of overallotment options, when disclosed.