News Release

NASD to Open New District Office in Boca Raton, Fl

Washington, D.C.—NASD today announced that it will open a new District Office in Boca Raton, FL, in the spring of 2005. The decision follows a staff assessment of regulated firm demographics in NASD's South Region.

"With approximately 280 securities firms now located there, Florida has a huge presence in the securities industry. It trails only California and New York in the number of registered representatives and branches," said Robert C. Errico, NASD's Executive Vice President for Member Regulation. "NASD is always working to increase its effectiveness and efficiency, both for the investor and for the industry. For us to achieve that goal, Florida requires a dedicated District Office of its own. NASD will soon be more accessible to Florida's firms and investors, and they will be more accessible to us."

NASD's new District office will be located in the Crystal Corporate Center, at 2500 North Military Trail, Suite 302, Boca Raton, FL, 33431.

NASD is the leading private-sector provider of financial regulatory services, dedicated to bringing integrity to the markets and confidence to investors through effective and efficient regulation and complementary compliance and technology-based services. NASD touches virtually every aspect of the securities business — from registering and educating all industry participants, to examining securities firms, enforcing both NASD rules and the federal securities laws, and administering the largest dispute resolution forum for investors and registered firms. For more information, please visit our Web site at