Detwiler, Mitchell & Co. Announces Expiration of Formal Merger Offer - Management Group Maintains Interest in Cash-Out of Minority Stockholders BOSTON, Nov. 26 /PRNewswire-FirstCall/ -- Detwiler, Mitchell & Co. (OTC Pink Sheets Quotation Service: DMCD) announced today that the offer from DMFG Acquisition Corp., a private entity formed by an acquisition group comprising members of the executive management of DMC and the key personnel of its wholly owned subsidiary, Detwiler, Mitchell, Fenton & Graves, Inc., had expired on November 24, 2004. The executives have indicated to the Special Committee of Independent Directors formed by the DMC Board that they continue to have interest in a transaction by which the minority interests in DMC would be acquired for cash. The Special Committee will work with its advisors to determine whether such a transaction would be in the best interest of the minority stockholders of DMC. Detwiler, Mitchell & Co. ("DMC") is the holding company for its three 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 and Detwiler, Mitchell & Co. (UK) Limited, an institutional sales firm headquartered in London, England. 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 James Graves, COO, +1-617-451-0100, both of Detwiler, Mitchell & Co. Web site: http://www.dmcos.com/

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