Date: Thu, 18 Dec 1997 11:30:45 GMT Server: Apache/1.2.4 Last-Modified: Thu, 20 Nov 1997 21:14:28 GMT ETag: "8589-4290-3474a834" Content-Length: 17040 Accept-Ranges: bytes Connection: close Content-Type: text/html About M.H. Meyerson & Co.
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M.H. Meyerson's Staff and Officers | Company Financials | Press Releases |

About The Company

M. H. Meyerson & Co., Inc., a securities firm originally founded in 1960, conducts its business in four separate divisions. These are Wholesale Trading, Correspondent Services, Retail Services, and Investment Banking. These four divisions are functionally supported by the Compliance Department and the Back Office Department (operations).

As of March 31, 1996, the Company had 160 employees, 108 of which were registered representatives, including 25 registered principals, licensed by the National Association of Securities Dealers ("NASD") and various state securities commissions. The balance of the Company's employees, which number 52, are support staff.

The Company's largest division (in revenue contribution) is wholesale market making, which means engaging in principal transactions on behalf of its proprietary trading accounts in what are usually dealer to dealer transactions. The Company employs 18 securities traders and 24 assistant traders who, with management supervision, conduct the Company's high volume trading operations. The Company's traders are compensated by receiving a fixed percentage of the profits from trading after deduction of general expenses. The traders are party to employment contracts which provide for individual liability for any funds owed the Company relating to losses, if any, incurred from trading activities. Pursuant to these employment contracts, the individual traders are restricted to Company imposed limits as to the extent of the trading positions they are permitted by the Company to maintain. Traders are also required by the Company to maintain a reserve, the size of which is a factor by which the trading position limit is determined. This reserve is also available to offset trading losses, if any, suffered by the individual trader in his trading account. The Company endeavors to observe high standards of commercial honor and just and equitable principles of trade in conducting its business.

In its market making function, the Company carries long or short trading positions in various securities. The Company currently trades over one hundred million shares of common stock, preferred stocks and warrants per month. The Company's clearing agent for market making and trading activities is Spear, Leeds & Kellogg, Inc., members of the New York and other principle stock exchanges, of New York City, New York. The Company has contracted with an information services provider to supply trading information regarding securities in which the Company has an investment interest. The Company obtains daily printouts that inform the traders regarding financial and market information on a current basis. As of March 1996, the Company was a market maker in approximately 2,500 securities.

The Company's trading activities have substantially increased with the addition of several automated trading systems such as Instinet, ACT, Selectnet, BNET, and the automated ticketless Brass trading program. The Brass system, which, in effect, makes trading "paperless", enhances the ability of the traders to focus on market conditions by eliminating the prior administrative burden incumbent in trading. The Selectnet and Instinet networks link the Company with trading partners throughout the United States, including other brokerage firms, block trading desks and specialists on the regional exchanges. These systems provide the Company with access into every major securities exchange on a worldwide basis. The Company also employs the Autex electronic volume monitoring system. Through Autex, the Company can determine the percentage of the Company's relative trading volume in a specific security.

The Company's Correspondent Services division provides competitive execution services primarily to retail securities firms who utilize the Company to fill buy or sell orders in over-the-counter and listed securities for their respective retail customers. The Company's Correspondent Service facilitates large retail firms, including discount brokers and banks, in obtaining instant execution of their respective customers' orders.

The Company's Retail Sales division consists of 54 registered representatives, including 9 registered principals, who collectively maintain the majority of the Company's retail securities accounts. The Company's retail customer accounts are carried on a "fully disclosed" basis by Bear, Stearns Securities Corp.,members of the New York and other principle stock exchanges, pursuant to a clearing agreement. This agreement provides that customer securities positions and credit balances are insured up to $50,000,000 by Securities Investors Protection Corp. ("SIPC") and supplementary private insurance coverage. All customer credit balances are subject to immediate withdrawal from Bear, Stearns Securities Corp., at the discretion of the customer.

The Company's Investment Banking division consists of four professionals. The primary function of this department is to conceptualize, plan and execute capital formation for small, growing companies which have the potential, in the Company's judgement, to become successful public companies. The Department is engaged in the structuring, management and participation in public offerings and private placements of primarily equity securities. It also advises its clients in connection with mergers, acquisitions and divestitures.

The Company also serves as the managing underwriter or co-underwriter in initial public offerings and private placements of primarily equity securities. Since 1990, the Company has been the managing or co-managing underwriter of 15 initial public offerings and four private placements which raised in excess of $125,000,000. The Company generally underwrites small capitalization growth companies in their relatively fast growth stage. These companies are generally in information technologies, such as software, medical products and pharmaceuticals. The Company has also been a syndicate or selling group member in approximately 96 underwritings.

M. H. Meyerson & Co., Inc. is currently registered for retail distribution in the following jurisdictions:

AlabamaIllinoisMissouriSouth Carolina
AlaskaIndianaNevadaSouth Dakota
ArizonaIowaNew HampshireTennessee
CaliforniaKansasNew JerseyTexas
ColoradoLouisianaNew YorkUtah
ConnecticutMaineNorth CarolinaVermont
DelawareMarylandOhio Virginia
District of ColumbiaMassachusettsOklahomaWest Virginia
FloridaMichiganOregon Wisconsin
GeorgiaMinnesotaPennsylvania Wyoming
HawaiiMississippiRhode Island

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Officers And Staff

Martin H. Meyerson, Chairman, Chief Executive Officer and Chief Financial Officer
Martin H. Meyerson is the Chairman, Chief Executive Officer, Chief Financial Officer and a director of the Company and was its President until 1984. Mr. Meyerson was also the President and a director of Bio Recovery Technology, Inc., a research and development company involved in microbiological and pollution control products, from 1984 through 1986. He was also the chairman of the board of Bio Metallics, Inc., also involved in pollution control products, from 1987 through 1990. Mr. Meyerson graduated from Packard College in 1952, majoring in Business Administration.

Michael Silvestri, President, Chief Operating Officer and Director
Michael Silvestri joined the Company in 1978 as Manager and Cashier and has been President and Chief Operating Officer of the Company since 1984. He has been actively involved in the securities business for twenty-five (25) years. His previous experience at Fahnstock & Company enabled him to expand his operational expertise in all trading areas. He has established new compliance and accounting procedures for the Company. Mr. Silvestri received a sociology and business degree from Brooklyn College in 1974. Mr. Silvestri became a Director in 1993.

Kenneth J. Koock, Vice Chairman and Director
Kenneth Koock has been with the Company since 1977. In 1993, Mr. Koock became a Director of the Company. Mr. Koock received his B.A. degree from Duke University in 1963 and a law degree in 1966 from St. John's University. He was president of Bio Metallics, Inc. from 1987 through 1990 and is a member of the New York State Bar Association.

Linda Antosiewicz, Senior Vice President, Director of Compliance, and Director
Ms. Antosiewicz joined the Company as Office Manager in 1983. She became the cashier and a Vice President in 1984. Ms. Antosiewicz became a director of the Company in 1993, and the firm's Senior Vice President and Director of Compliance in 1995. She was previously employed by Merrill Lynch, Pierce, Fenner & Smith for eleven (11) years in its operations department and as a training specialist in the agency clearing department.

Jeffrey E. Meyerson, Vice President, Foreign Trading and Director
Jeffrey E. Meyerson has been with the Company since 1987. He became Vice President of the Foreign Trading Department in 1989. He received an Economics/Management degree from Ithaca College in 1987. Mr. Meyerson became a Director of the Company in 1993.

Joelle A. Meyerson, Treasurer and Director
Joelle A. Meyerson actively joined the Company in 1979 as a Financial Principal and became a Director in 1994. She received a B.A. degree in Economics from Brooklyn College in 1960, and a Masters degree in Economics from Brooklyn College in 1962.

Eugene M. Whitehouse, Vice President, Controller, and Director
Eugene M. Whitehouse has been associated with the firm since 1983, became a Vice President and the Company's Controller in 1994, and became a director in 1996. He received a B.B.A. degree from Pace University in 1982, and an M.B.A. in MIS from St. Peter's College in 1994.

Bertram Siegel, Esq., Director
Bertram Siegel became a Director of the Company in 1994. Mr. Siegel is a partner in the law firm of Siegel and Siegel, and was a member of the Board of Directors of Bio Metallics, Inc., from 1987 through 1990. He is a member of the New Jersey and Bergen County Bar Associations, and received his Juris Doctor degree from Rutgers, the State University of New Jersey in 1963.

Martin Leventhal, CPA, Director
Martin Leventhal graduated from Brooklyn College in 1958 and became a Certified Public Accountant in 1963. With the exception of time spent in military service, he has been actively involved in public accounting since his graduation. In 1971, he founded the firm now known as Martin Leventhal & Company, a CPA firm with approximately 25 employees. He is a member of the American Institute of Certified Public Accountants and the New York Society of Certified Public Accountants, for which he served on numerous committees. He has also held a principal's license in the securities industry.

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Press Releases

Text of Press Release; October 6, 1997:

M.H. MEYERSON & CO., INC. INITIATES COVERAGE OF SOLUCORP, INC.

Jersey City, New Jersey, October 6, 1997, M.H. Meyerson & Co., Inc. (NASDAQ NNM Symbol: MHMY) announced that it is initiating coverage of Solucorp, Inc. (Electronic BB Symbol: SLUP).

Coverage of Solucorp, Inc. is being provided by Andrew H. Scott, Senior Research Analyst, of M.H. Meyerson & Co., Inc., 525 Washington Blvd, Newport Tower, Jersey City, New Jersey 07310. Contact Andrew H. Scott, at (201) 459-9445 or (800) 422-4114.

M.H. Meyerson & Co., Inc. maintains an Investment Banking relationship with Solucorp, Inc. and owns warrants in the Company. In addition, M.H. Meyerson & Co., Inc. makes a market in these securities. Both M.H. Meyerson & Co., Inc. and its employees may be long or short the stock from time to time.

MARTIN H. MEYERSON
CHAIRMAN

Text of Press Release; May 8, 1996:

MHMY Announces First Quarter Financial Results

Jersey City, N.J., May 8, 1996 - M. H. Meyerson & Co., Inc. (NASDAQ NMS Symbol: MHMY; approximate price $2 ) announced today that unaudited net income, after full provisions for state and federal taxes, for the first quarter (ended April 30), of the fiscal year ending January 31, 1997 was $631,470, or 12¢ per share. The Company reported record first quarter revenue of $10,374,774. This corresponds to the $352,170 loss (7¢ per share) and $3,856,624 revenue reported for the same period last year.

"Our long term goal remains to improve shareholder equity and to add value to the Company. This is the strongest first quarter the Company has ever reported," said Martin H. Meyerson, Chairman of M. H. Meyerson & Co., Inc. "The equity markets returned to a favorable position, and, as I predicted in 1995, our trading volume has increased and we expect this trend to continue."

"MHMY has been positioning itself to better serve our wholesale and retail client base into the next millennium," Mr. Meyerson stated. "We continue to diversify our product mix and invest in people and technology. This summer, we plan on moving to our new facility, which is approximately 30,000 square feet located on the 34th and 35th floors at Newport Office Tower, 525 Washington Street in Jersey City, New Jersey. It overlooks New York Harbor and the Manhattan skyline and is opposite the Pavonia Path Station, one stop from midtown Manhattan. Our new state-of-the-art offices are almost twice the size of our present space and will enable us to continue attracting new talent in our research department, institutional sales and retail and wholesale divisions and to provide an even higher level of service than our clients have come to expect."

M. H. Meyerson & Co., Inc. Is a full service international financial services firm with five separate divisions: Wholesale Trading, Correspondent Services, Fixed Income Services, Retail Services, and Investment Banking.

MARTIN H. MEYERSON
CHAIRMAN

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M.H. Meyerson & Company, 525 Washington Blvd., Jersey City, NJ 07310, (800) 888-8118