Integrity Research Receives Financing and Adds New Management

New York - 6 September 2006

Former S&P Executive Joins Management of Research Industry Specialist

Integrity Research Associates LLC, a research and consulting company which covers the investment research industry, announced today that it has received a new round of financing from private investors. The company also named Sanford Bragg, former Executive Managing Director of Standard & Poor’s, to the management team. Mr. Bragg will be President and share the CEO role with founder Michael Mayhew.

Mr. Mayhew explained, “Sandy is a proven executive with a successful track record in growing research businesses. He knows the research market well, having managed S&P’s equity research business as it expanded internationally and won a major share of the Global Research Analyst Settlement. I’m extremely pleased to have a professional of Sandy’s credentials and character join the firm.”

The new financing will be used by Integrity Research to expand its sales and marketing activities and to enhance its analytical staff. Howland Partners LLC represented the investors in the transaction.

“I’m excited to join Mike and the Integrity Research team as they help investors keep pace with the rapidly evolving research marketplace,” said Mr. Bragg. “Integrity Research is well positioned within the industry and I look forward to leading the company to even greater growth.”

Mr. Bragg will be focused on sales, marketing, overseeing the day to day management of the company, and developing Integrity’s information business. Mr. Mayhew will remain as Co-CEO and Chairman, focusing on strategy and business development, growing the firm’s analytical capabilities, and building its consulting business.

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