Adrienne Tennant Becomes Group Head of Consumer Research ARLINGTON, Va., May 24 /PRNewswire-FirstCall/ -- FBR Capital Markets Corporation (FBR Capital Markets) announced today that David M. Hilal has been named Senior Managing Director and Associate Director of Research. The firm also announced that Adrienne Tennant has become Managing Director and Group Head of Consumer Research. "David Hilal brings solid credentials to his new position and provides a valuable perspective to expand our research coverage of growth industries," said David M. Khani, FBR Capital Markets Director of Research. "He is a highly ranked analyst with an excellent track record, and I look forward to working closely with him as we continue to develop research products and approaches that best meet the needs of our institutional clients." Mr. Hilal has been the Managing Director and Group Head of Technology, Media & Telecom Research at FBR Capital Markets for more than seven years and has been the firm's Senior Analyst specializing in enterprise software for the past 10 years. In 2006, Mr. Hilal ranked as one of the top three earnings estimators in the software sector in Forbes.com/StarMine's 2006 analyst awards. He was also recognized as the best stock picker in the Internet software and services sector, as well as the top five overall stock picker across all sectors by TheStreet.com in 2000. Prior to joining FBR, Mr. Hilal was a Manager at American Management Systems, a global information technology consulting firm. While at AMS, Mr. Hilal managed the implementation of several enterprise, client/server, and Internet applications. From this experience, he has developed a deep understanding of the Internet, the software industry, and their associated technologies. Mr. Hilal received his M.B.A. in finance and his B.S. in mechanical engineering from the University of Notre Dame. Mr. Hilal is a member of the CFA Institute and the Washington Society of Investment Analysts. He has received the CFA designation. "Adrienne Tennant's first class work in the specialty apparel sector has earned her the opportunity to lead our consumer research group as we expand the range of consumer companies we cover," said David Khani. As Senior Consumer Analyst at FBR Capital Markets, Ms. Tennant's research has focused on specialty apparel companies. She has more than 11 years experience in the financial services industry. Ms. Tennant was rated as one of the top three specialty retail stock pickers in 2005 by Forbes.com/StarMine. In 2004, Ms. Tennant was named a "Home Run Hitter" by Institutional Investor for her AEOS stock pick. Prior to joining FBR, Ms. Tennant was a Senior Analyst in the consumer group at Wedbush Morgan Securities, where she concentrated on the retail sector with a focus on specialty apparel. Ms. Tennant has worked in investment banking for Prudential Securities, as well as for Prudential's Structured Finance Group, a private debt investor in power and infrastructure projects, and for PDI Strategies, a quantitative asset allocation group. She has also worked in the Gap, Inc.'s brand finance and strategic planning group and at The Disney Stores. Ms. Tennant holds a M.B.A. in finance from The Anderson School at the University of California, Los Angeles, and a B.S. in industrial engineering from Stanford University. FBR Capital Markets Corporation (FBR Capital Markets), a majority-owned subsidiary of Friedman, Billings, Ramsey Group, Inc. (FBR), provides investment banking*, merger and acquisition advisory services*, institutional brokerage*, asset management and private wealth services. FBR Capital Markets focuses capital and financial expertise on eight industry sectors: consumer, diversified industrials, energy & natural resources, financial institutions, healthcare, insurance, real estate, and technology, media & telecom. FBR is headquartered in the Washington, D.C. metropolitan area with offices in Arlington, VA, Boston, Dallas, Houston, Irvine, London, New York, Phoenix and San Francisco. For more information, please visit http://www.fbr.com/. *Friedman, Billings, Ramsey & Co., Inc. DATASOURCE: FBR Capital Markets Corporation CONTACT: Media - Lauren Burk, +1-703-469-1004, ; Investors - Paul Beattie, +1-703-312-9673, , both of FBR Capital Markets Corporation Web site: http://www.fbr.com/

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