Detwiler, Mitchell & Co. Announces Receipt of Claim BOSTON, March 31 /PRNewswire-FirstCall/ -- Detwiler, Mitchell & Co. (OTC Pink Sheets: DMCD) announced that the Company's wholly owned subsidiary, Detwiler, Mitchell, Fenton & Graves, Inc. ("DMFG"), received a written notice of claim under DMFG's Financial Institution Bond (the "Notice of Claim") from the receiver (the "Receiver") for the estate of Bradford Bleidt, a former independent financial planner who is under investigation by the Securities and Exchange Commission. As previously reported, DMFG is responding to inquiries and subpoenas regarding various regulatory proceedings against Bleidt and the SEC registered investment advisor firms owned by him. The proceedings allege fraudulent transactions occurred at his companies before, during and after Bleidt was an NASD registered representative of DMFG. The Notice of Claim purports to invoke DMFG's insurers in responding to $15.6 million of alleged losses incurred by customers of Bleidt's investment advisory firms during the period from October 9, 2001 through February 11, 2004 when he was registered with DMFG. As these investigations and proceedings are only at a preliminary stage, the Company is unable to predict the outcome of these matters. The Company intends vigorously to pursue the defense of DMFG and strongly objects to the allegations in the Notice of Claim. At the same time, the Company's insurers have not acknowledged coverage for the alleged acts. Should the Company be unable to achieve a favorable result with respect to these matters, its financial position, results of operations and cash flows could be materially impacted. Detwiler, Mitchell & Co. ("DMC") is the holding company for its two principal operating subsidiaries: Detwiler, Mitchell, Fenton & Graves, Inc., a channel research, institutional sales and private client group broker/dealer headquartered in Boston, MA; James Mitchell & Co., a financial services company headquartered in San Diego, CA. For more information on DMC, please go to our website at http://www.dmcos.com/. Cautionary Statement Regarding Forward-Looking Statements: Certain statements in this news release may contain forward-looking statements within the meaning of the Federal securities laws. Such statements should be considered in light of the risks and uncertainties associated with Detwiler, Mitchell & Co. and its operating subsidiaries, including those economic and market risks contained in the Company's Annual and Quarterly Reports and other risks prevailing from time to time; all of which are subject to material changes and may cause actual results to vary materially from what had been anticipated. DATASOURCE: Detwiler, Mitchell & Co. CONTACT: James Mitchell, Chairman and CEO, +1-617-747-0180, or Stephen Martino, CFO, +1-617-747-0154, both of Detwiler, Mitchell & Co. Web site: http://www.dmcos.com/

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