Underwriter Performance Report

Period Covered: 01/2007 - 03/2007

(only includes IPOs for which underwriter served as the lead underwriter )

Friedman, Billings, Ramsey
1001 19th Street North, Potomac Tower Number of Offerings: 2
Arlington, VATotal Amount Raised: $488.0 Mil.
Telephone: 703-312-9500Avg. Amount per Deal: $244.0 Mil.
Internet: http://www.fbr.com/Avg. Company Market Val.: $643.2 Mil.
 Avg. Percent Change: +0.25 %
 
Name Symbol Offer Date Offer
Price
Close Price
on 03/30/07
Percent
Change
Amount
Raised $Mil.
CastlePoint Holdings Ltd.CPHL03/23/07$14.50$16.35+12.5%$88.0
Meruelo Maddux Properties Inc.MMPI01/25/07$10.00$8.75-12.%$400.0