ThinkEquity Partners LLC Announces Initiation of New Banking Industry Coverage SAN FRANCISCO, July 1 /PRNewswire/ -- ThinkEquity Partners LLC, a research-centric investment firm, recently announced the initiation of coverage on eight Puerto Rican-based financial institutions. ThinkEquity Partners specialty finance analyst Audrey Snell initiated coverage on the following banking institutions: Price at Company Symbol Rating Initiation Price Target Doral Financial Corp. DRL Accumulate $14.88 $20 Eurobancshares Inc. EUBK Buy $16.60 $21 First BanCorp. FBP Buy $38.64 $46 Oriental Financial Group Inc. OFG Accumulate $14.38 $17 Popular, Inc. BPOP Accumulate $25.15 $27 R&G Financial Corporation RGF Accumulate $17.49 $22 Santander BanCorp SBP Buy $24.75 $28 W Holding Company, Inc. WHI Buy $9.87 $14 ThinkEquity believes the regional community banks of Puerto Rico represent a compelling investment opportunity as the Commonwealth modernizes and builds out its infrastructure. The middle class is growing, as disposable income levels climb, driven by modernization and industrialization and the influx of businesses and job creation. Accordingly, Ms. Snell believes these are superior quality institutions which are trading at valuations not reflecting their growth rates or future prospects. Please see her recent report The Banks of Puerto Rico -- Superior Growth Driven by Secular Trends, dated June 26th 2005, for additional details. About ThinkEquity Partners LLC ThinkEquity Partners LLC is a research-centric institutional investment firm focused on the growth economy. ThinkEquity Partners is dedicated to providing focused insight, advisory services, and capital to institutional investors and corporate constituents in the knowledge economy's key growth verticals, including technology, healthcare, media and consumer business services. For more information about ThinkEquity Partners, please visit http://www.thinkequity.com/ . Member NASD and SIPC. DATASOURCE: ThinkEquity Partners LLC CONTACT: Lewis Goldberg, +1-212-896-1216, , Anne Donohoe, +1-212-896-1261, , or Scott Rosenblum, +1-212-896-1274, , all for KCSA Worldwide Web site: http://www.thinkequity.com/

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