To: Roebear who wrote (72337 ) 9/5/2000 6:33:23 PM From: Richard Saunders Respond to of 95453 Calgary, Alberta meet St. Petersburg, Florida (Raymond James Financial is buying cdn. Goepel McDermid brokerage which in the past has had some successes with emerging cdn. o&g situations.)newswire.ca =-=-=-=--= Goepel McDermid to join forces with major U.S. independent financial services firm TORONTO and VANCOUVER, Sept. 5 /CNW/ - Goepel McDermid Inc. announced today it has signed a letter of intent with Raymond James Financial, Inc., a leading independent financial services firm based in the U.S., providing for the acquisition of Goepel McDermid by Raymond James Financial. Kenneth A. Shields, Goepel McDermid's President and CEO, noted he first met Raymond James Financial Chairman & CEO, Tom A. James in 1998, and the two have considered the prospect of an alliance since that time. "Our firms are remarkably similar - we share a dedication to client service and are both firmly committed to the autonomy of our people," said Mr. Shields. "By joining forces with this strong U.S. leader, our clients will have direct access to an expanded range of products and services. In addition, our people will enjoy the same entrepreneurial atmosphere we've always encouraged." Shields emphasized that Raymond James Financial's core businesses ideally complement those areas in which Goepel McDermid Inc. has been enjoying rapid growth. "We have a unique opportunity ahead of us," noted Ken Shields. "We look forward to captures an important share of the Canadian market over the next few years." James added, "We are delighted to be entering the Canadian market and believe Goepel McDermid is capable of delivering on the profitability and growth targets we've traditionally achieved in the U.S." Raymond James Financial is known for its personal financial planning expertise through a network of over 4,400 Financial Advisors. Goepel McDermid and Raymond James Financial will provide a significant advantage for private investors seeking the independent investment dealer alternative for wealth management services. As a 100% employee-owned investment dealer, Goepel McDermid shareholders will become shareholders in Raymond James Financial, whose shares are listed on the New York Stock Exchange. Currently, Raymond James Financial employees hold an interest of approximately 45% of the outstanding shares. Both companies cite employee equity participation as a key aspect of their strong independent-minded culture. The transaction, subject, to the execution of definitive agreements and shareholder and regulatory approvals, has a targeted closing date during the fourth calendar quarter. The transaction is valued in excess of Cdn$125 million. Goepel McDermid Inc. -------------------- Goepel McDermid is an employee-owned, full service investment dealer with its head office located in Vancouver, B.C. With 25 locations across Canada and over 750 employees, the firm has provides services to over 60,000 clients including private investors, corporations, institutions. The company is 100% owned and operated by its employees. Raymond James Financial, Inc. ----------------------------- Raymond James Financial, Inc. includes two wholly owned investment firms, Raymond James & Associates and Raymond James Financial Services. Through a network of over 4,400 Financial Advisors located in over 1,800 offices throughout the U.S. & overseas, they provide financial services to individuals, corporations and municipalities. The company has assets under administration in excess of U.S.$90 billion and reported revenues for nine month period ending June 30 of U.S.$1.26 billion. Its international head quarters is in St. Petersburg, Florida, Raymond James Financial, Inc. trades on the New York Stock Exchange under symbol RJF. -30- For further information: In Vancouver, B.C.: Michelle Rupp, tel. (604) 659-8326, e-mail: michelle.rupp@goepel.mcdermid.com; In St. Petersburg, Florida: Larry Silver, 1-800-248-8863, Ext. 35320, e-mail lsilver@market.rjf.com