Underwriter Performance Report

Period Covered: 04/2007 - 06/2007

(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: $232.8 Mil.
Telephone: 703-312-9500Avg. Amount per Deal: $116.4 Mil.
Internet: http://www.fbr.com/Avg. Company Market Val.: $658.8 Mil.
 Avg. Percent Change: -7.1 %
 
Name Symbol Offer Date Offer
Price
Close Price
on 06/29/07
Percent
Change
Amount
Raised $Mil.
FBR Capital Markets Corp.FBCM06/08/07$17.00$16.90-0.8%$199.1
Pinnacle Gas Resources Inc.PINN05/15/07$9.00$7.79-13.4%$33.8