MAM Maine & Maritimes Corp.

Dutton Associates continues coverage of Maine & Maritimes (AMEX:MAM) reiterating its Speculative Buy rating and a 12-month $20.00 price target. The 13-page report by Dutton senior analyst Sally H. Wallack, CFA, is available at www.jmdutton.com, and at First Call, Bloomberg, Reuters, Zacks, Knobias, and other leading financial portals. Maine & Maritimes Corporation is a holding company for Maine Public Service Company (MPS), a regulated electric transmission and distribution utility serving much of northern Maine, and unregulated businesses, including The Maricor Group (TMG), Maricor Properties Ltd (MPL), and Maricor Technologies Inc. (MTI). For Maine & Maritimes, 2006 was a year of progress and change. Perhaps the year�s most noteworthy event was the surprise resignation of Maine & Maritimes� Chief Executive Officer (CEO) in August, which triggered a wide-range review by the Board of Directors of the Company�s business focus and growth strategies. This review, which could result in significant changes in management and operations, is still ongoing. We expect these issues to be clarified in 2007, enabling investors to better evaluate Maine & Maritimes� direction and potential for growth. In this report, we discuss the key business, financial and investment developments at Maine & Maritimes in 2006, with particular focus on those that we believe may have implications for the Company�s growth and/or the performance of its stock in 2007. We reiterate our Speculative Buy rating on Maine & Maritimes common stock, which is trading at a deep discount to book value per share. About Dutton Associates Dutton Associates is one of the largest independent investment research firms in the U.S. Its 31 senior analysts are primarily CFAs, and have expertise in many industries. Dutton Associates provides continuing analyst coverage of over 140 enrolled companies, and its research, estimates, and ratings are carried in all the major databases serving institutions and online investors. The cost of enrollment in the Dutton Associates one-year continuing research program is US $35,000 prepaid from the Company for 4 Research Reports, typically published quarterly, and requisite Research Notes. Dutton Associates received $35,000 from the Company for 4 Research Reports with coverage commencing on 5/16/2006. Dutton Associates does not accept payment of any of its fees in company stock. Its principals and analysts are prohibited from owning or trading in securities of covered companies. The views expressed in this research report accurately reflect the analyst's personal views about the subject securities or issuer. Neither the analyst's compensation nor the compensation received by us is in any way related to the specific ratings or views contained in this research report or note. Please read full disclosures, and analyst background at www.jmdutton.com before investing.