Northwest Stock Index Outperforms Major Indices During First Six Months of 2004.

GREAT FALLS, Mont. -- Second graph, third sentence of release dated July 8, 2004 should read: The top five also included three companies focused on wireless communications: Washington-based wireless service provider AT&T Wireless Services Inc. (up 79.2 percent);(sted Colorado-based wireless

The corrected release reads:

NORTHWEST STOCK INDEX OUTPERFORMS MAJOR INDICES DURING FIRST SIX MONTHS OF 2004

Davidson 99 Regional Stock Index Points to Strong Economic Outlook for the Northwest and Northern Rocky Mountain Regions

D.A. Davidson & Co., the largest full-service investment firm based in the greater Northwest and northern Rocky Mountain regions, today announced the Davidson 99 Regional Stock Index has outperformed broader-based indices such as the Dow Jones Industrial Average, NASDAQ Composite and S&P 500 for the first six months of 2004. The Davidson 99 gained 7 percent for the period, more than doubling the S&P 500's 2.6 percent gain. The Nasdaq Composite reported a 2.2 percent gain, while the Dow Jones Industrial Average lost .18 percent for the period.

The stocks of seven companies included in the Davidson 99 were up more than 50 percent at the end of the six months. Of those, Coldwater Creek Inc., an Idaho-based women's apparel retailer, recorded the largest gain at 140.6 percent. The top five also included three companies focused on wireless communications: Washington-based wireless service provider AT&T Wireless Services Inc. (up 79.2 percent); Washington-based global telecom company InfoSpace Inc. (65 percent); and Washington-based communications company Western Wireless Corp. (57.5 percent). Rounding out the top five best performers was Montana-based Stillwater Mining Co. (26 percent).

"The performance of the Davidson 99 points to market recognition of the economic expansion taking place in the Pacific Northwest and the Rocky Mountain region," said Fred Dickson, Senior Vice President and Chief Market Strategist for D.A. Davidson.

The Davidson 99 company that recorded the lowest stock performance at the half-year mark was a Colorado-based telecom company, Level 3 Communications Inc., which posted a 38.4 percent loss.

The Davidson 99 was launched Jan. 1, 2004. It is comprised of 99 stocks from companies operating within seven states in the greater Northwest and Rocky Mountain regions, including Colorado, Idaho, Montana, Oregon, Utah, Washington and Wyoming. The securities in the index were selected based on market capitalization, importance within their sectors and importance in the states they represent. All 10 major market sectors are represented, showing the broad diversification of the companies in the region.

Dickson noted that this marks the second straight quarter in which the Davidson 99 delivered price gains exceeding the major index averages. The diversified nature of the index, in both sector and market capitalization, contributed to the solid performance of the Davidson 99, he said.

The Davidson 99 Regional Index is published daily at www.dadavidson.com, along with commentary from D.A. Davidson's Retail Strategy Team on the performance of the index and implications regarding the economic health of these regions. The index is price-weighted, or calculated in the same manner as the Dow Jones Industrial Average, the world's most widely followed stock index. The closing price of each component in the index is determined daily after the markets' close, and the values are summed and compared with the value set on Dec. 31, 2003, then adjusted for stock splits and mergers. The index was set to a base value of 100 on Dec. 31, 2003(a).

About D.A. Davidson & Co.

Founded in 1935, D.A. Davidson & Co. is an independently owned, full-service investment firm with offices in eight states. D.A. Davidson & Co. is owned by Davidson Companies, a financial services holding company based in Great Falls, Montana. Also part of Davidson Companies are Davidson Trust Co., a wealth management and trust operation; Davidson Investment Advisors, a professional money management firm; and Davidson Travel, a full-service travel agency.

(a) Shares in the Davidson 99 Regional Stock Index cannot be bought or sold, and the companies included in the index may or may not be covered by D.A. Davidson & Co.'s research team.