DISCOUNT BROKER MURIEL SIEBERT & CO. EXPANDS IN FLORIDA; ADDS OFFICE IN NAPLES; Expansion...

NEW YORK--(BUSINESS WIRE)--December 11, 1995--Muriel Siebert & Co., Inc., a leading national discount brokerage firm, today announced the opening of a branch office in Naples, Florida, its second in the state. The firm opened its first Florida office, in Boca Raton, in early 1994. Due to the strong

"Naples is a prime location for us for several reasons," said Muriel Siebert, the firm's founder, President and Chief Executive Officer. "First, like Palm Beach County, the area is growing rapidly -- with a heavy influx of retirees as well as younger baby-boomers. Second, Naples is a retirement and winter destination for many of our New York customers; having a local office will allow us to build on those relationships and provide the excellent level of service they have come to expect. And third, the market research we have conducted in the Naples area indicates a high percentage of local investors are actively involved in managing their personal portfolios and value our prices and service quality."

The office, which formally opens for business today, is located at The 400 Building in downtown Naples (400 Fifth Avenue South, Suite 100, Naples, Florida 33940; 1-800-293-3891 or 941-435-9787).

"We offer the investors of Naples a comprehensive range of services at competitive commission rates, backed by outstanding customer service and excellent execution," Ms. Siebert added. She noted that her firm's commissions are up to 70 percent lower than those of Charles Schwab and Fidelity. The firm recently added Siebert OnLine to its array of services, allowing clients to use their PCs to trade stocks, listed options and mutual funds as well as access real-time quotes and account information.

In Smart Money's 1995 annual survey of discount brokerage firms, Muriel Siebert & Co. ranked No. 4 overall among the 19 firms surveyed, as well as among "the best" for "automated transactions" and "staying out of trouble."

Firm Contributes to National and Local Charities

Through Innovative Program

The firm has been an active donor to national and local charities through a unique program -- the Siebert Entrepreneurial Philanthropic Plan -- created by Ms. Siebert in 1990 for the large institutional clients of her firm's capital markets group. Through the program, every time an issuer or institutional investor, like a corporation or government agency, involves Muriel Siebert & Co. in underwriting or purchasing a new-issue security, half of the firm's commission revenue is donated to the charity of their choice. Often, the charities chosen are in the community of the issuer or investor.

Since its inception, the plan has donated approximately $4 million to charities across the nation, including charities in Florida.

Muriel Siebert & Co., Inc. is a leading national discount brokerage firm founded by Ms. Siebert in 1967 when she became the first woman member of the New York Stock Exchange. She transformed the firm into a discount brokerage house on May 1, 1975, the first day that New York Stock Exchange members were permitted under a new federal law to negotiate commissions. Ms. Siebert took a leave from her firm in 1977 to serve five years as the first woman Superintendent of Banking for the State of New York. Muriel Siebert & Co. is based in New York City, with branches in Los Angeles, Boca Raton and Naples.

CONTACT: Trina Hardiman

Allen Randolph

McDonough & Associates

(212) 334-0033