Pittsburgh, PA (November 9, 2004) Springfield Public Schools No. 19, Oregon placed a $500,000 investment using GFOA YieldAdvantage, a new Internet auction web site offered by the Government Finance Officers Association.

Pittsburgh, PA (November 9, 2004) Springfield Public Schools No. 19, Oregon placed a $500,000 investment using GFOA YieldAdvantage, a new Internet auction web site offered by the Government Finance Officers Association. Traditionally, government entities and school districts solicit bids from banks and broker-dealers via phone. Using the GFOA YieldAdvantage web site, state and local governments are able to solicit bids and exchange settlement information easily and efficiently via the Internet. The $500,000 transaction was a "sealed" solicitation in which four banks and broker-dealers submitted quotes for 6-month agency securities.

In December 2003, the GFOA entered into an alliance with Grant Street Group, a fixed income Internet auction house and parent of MuniAuction, to create the GFOA YieldAdvantage web site (www.gfoayield.com).

About the Government Finance Officers Association

The GFOA is the premier professional association in public finance, serving the needs of more than 15,000 governments in the United States and Canada. Established in 1906, GFOA is the main vehicle for recommended financial management practices that guide the state and local public sector. GFOA provides training programs, a wide range of publications and periodicals, renowned awards programs, and consulting services. For more information, visit the GFOA Web site at www.gfoa.org.

Pittsburgh, PA (November 4, 2004) Grant Street Group, the Pittsburgh-based firm that pioneered Internet auctions of new bond issues, today announced that its auction web sites exceeded $5 trillion in total volume.

Pittsburgh, PA (November 4, 2004) Grant Street Group, the Pittsburgh-based firm that pioneered Internet auctions of new bond issues, today announced that its auction web sites exceeded $5 trillion in total volume. Since hosting the first auction in November 1997 for the City of Pittsburgh, Grant Street Group has diversified into designing, developing and licensing customized or private-labeled auction web sites used by municipal and federal agencies and major financial institutions serving as trustees, custodians, broker-dealers, exchange agents, auction agents, remarketing agents and tax collectors.

Grant Street Group has hosted over 18,000 auctions for over 1,000 different Issuers of fixed income instruments including, new issues of bills, notes, bonds, auction rate certificates and tax certificates, as well as reverse auctions (i.e., investment solicitations) of treasuries, agencies, CP, CDs, repos and guaranteed investment contracts (GICs). Its growing client list includes, Freddie Mac, Tennessee Valley Authority, Wilmington Trust, Wachovia, Wells Fargo, Mellon, GFOA, Public Financial Management, the State Treasuries' of Ohio, Texas, South Carolina, Louisiana, Iowa, Idaho, Massachusetts and Maryland, as well as Allegheny, Miami-Dade, Orange, Volusia and Okaloosa Counties. In addition, it has partnered with the Government Finance Officers Association (GFOA) to create a real-time electronic marketplace for governments to invest their cash holdings.

Grant Street Group also holds a patent that gives the firm exclusive rights to conduct (or license its method of conducting) bond auctions and investment solicitations that have certain characteristics (as described in the patent.)

Grant Street Group is headquartered in Pittsburgh, Pennsylvania. More information is available at www.GrantStreet.com, Info@GrantStreet.com, or by calling 412-391-5555.

Pittsburgh, PA (October 5, 2004) Today's $42.5 Million CD auction marks the 5 year anniversary of the www.BidOhio.com web site. The site has auctioned off over $2.5 Billion in 6-month CDs for the Ohio Treasury and was the first of its kind when introduced in October of 1999.

Pittsburgh, PA (October 5, 2004) Today's $42.5 Million CD auction marks the 5 year anniversary of the www.BidOhio.com web site. The site has auctioned off over $2.5 Billion in 6-month CDs for the Ohio Treasury and was the first of its kind when introduced in October of 1999. It has received recognition from, the Government Finance Officers Association (GFOA)- Louisville Award for Financial Innovation, the Association for Financial Professionals and MuniNet Magazine, and has won the Innovation in American Government Award given by Harvard's John F. Kennedy School of Government. Since the introduction of BidOhio, the Ohio State Treasury estimates that it has earned an additional $5.8 Million in interest earnings compared with average CD rates.

Grant Street Group has also created CD auction web sites for: South Carolina, Allegheny County, Texas, Idaho, Pennsylvania, Louisiana, Iowa & most recently in June of 2004 - Massachusetts.

Pittsburgh, PA (September 9, 2004) The City of Walterboro, South Carolina solicited a $250,000 6 month CD using GFOA YieldAdvantage , a new Internet auction web site offered by the Government Finance Officers Association.

Pittsburgh, PA (September 9, 2004) The City of Walterboro, South Carolina solicited a $250,000 6 month CD using GFOA YieldAdvantage , a new Internet auction web site offered by the Government Finance Officers Association. Traditionally, government entities and school districts solicit bids from banks via phone. Using the GFOA YieldAdvantage web site, state and local governments are able to solicit bids easily and efficiently from a larger number of banks via the Internet and to conduct an on-line auction in which these banks bid against each other for the deposit. The state or local government gets the benefit of a higher investment rate from the combination of increased competition and the auction format. Solicitation amounts range from $100,000 (or less in some instances) to millions of dollars. In the City of Walterboro auction, 5 banks from South Carolina submitted 24 bids during the 30 minute auction.

In December 2003, the GFOA entered into an alliance with Grant Street Group, a fixed income Internet auction house and parent of MuniAuction, to create the GFOA YieldAdvantage web site (www.gfoayield.com).

About the Government Finance Officers Association

The GFOA is the premier professional association in public finance, serving the needs of more than 15,000 governments in the United States and Canada. Established in 1906, GFOA is the main vehicle for recommended financial management practices that guide the state and local public sector. GFOA provides training programs, a wide range of publications and periodicals, renowned awards programs, and consulting services. For more information, visit the GFOA Web site at www.gfoa.org.

Pittsburgh, PA (July 8, 2004) Grant Street Group today announced that the Comptroller of Public Accounts for the State of Texas, Carole Keeton Strayhorn, selected Grant Street to create and maintain a new web site that the Comptroller will use to auction $7 billion of tax and revenue anticipation notes (TRANs) in August and annually thereafter.

Pittsburgh, PA (July 8, 2004) Grant Street Group today announced that the Comptroller of Public Accounts for the State of Texas, Carole Keeton Strayhorn, selected Grant Street to create and maintain a new web site that the Comptroller will use to auction $7 billion of tax and revenue anticipation notes (TRANs) in August and annually thereafter.

The Comptroller's "private label site" (PLS) called TranTexas.com will allow the State to receive competitive bids from qualified underwriters based in Texas as well as from around the country. Also, using an electronic bidding innovation offered only by Grant Street Group, the PLS will allow qualified minority firms -- or HUBs (Historically Underutilized Businesses) -- to place bids and receive awards on portions of the notes. This partial bidding feature allows smaller, less well-capitalized underwriters to effectively compete with their much larger and more heavily capitalized competitors by enabling them to bid for part, but not all of the notes for sale.

Texas now joins Colorado, Massachusetts, and New Mexico in using a Grant Street private label site to host their competitive TRAN sales. These states, as well as many others, accept partial bids in order to allow more underwriters - including local and regional underwriters in their states - to compete for the State's notes and hence, achieve more competitive rates.

About Grant Street Group Grant Street Group is an Internet auction house dedicated exclusively to hosting auctions of fixed income instruments including new issues of bills, notes, bonds, auction rate certificates and tax certificates, as well as reverse auctions (i.e., investment solicitations by state and local governments) of treasuries, agencies, CP, CDs, repos and guaranteed investment contracts (GICs). In addition to auction hosting, Grant Street Group designs, develops and licenses customized or private-labeled auction web sites used by municipal and federal agencies and major financial institutions serving as trustees, custodians, broker-dealers, exchange agents, auction agents, remarketing agents, etc.

Pittsburgh, PA (June 22, 2004) During the course of two weeks -- from May 19 to June 4 -- four Florida counties concluded the country's first Internet auctions of delinquent tax certificates. Orange, Okaloosa, Volusia, and Miami-Dade Counties each held Internet auctions -- ranging from one day for Okaloosa County to four days for Miami-Dade County -- of delinquent tax certificates.

Pittsburgh, PA (June 22, 2004) During the course of two weeks -- from May 19 to June 4 -- four Florida counties concluded the country's first Internet auctions of delinquent tax certificates. Orange, Okaloosa, Volusia, and Miami-Dade Counties each held Internet auctions -- ranging from one day for Okaloosa County to four days for Miami-Dade County -- of delinquent tax certificates.

In total, over 60,000 certificates with a face amount exceeding $150 million were sold to individual and institutional investors located throughout Florida as well as across the country.

In past years, hundreds of bidders would gather at each auction site designated by each county and wait for certain certificate numbers to be called out by the auctioneer and then shout their bids: "18%", "15%", "5%"; the auctioneer responding: "5% going once, 5% going twice, sold to bidder number...for 5%". And so it would go, continuously, while the staff of the County Tax Collector's Office would scramble to sell thousands of delinquent tax certificates. Not anymore.

This year more than 60,000 certificates were sold over the Internet at rates ranging from the state permitted maximum of 18% to a minimum of 0%, with 0.25% percent increments in between. The winning bidder is the one offering to purchase the certificate at the lowest rate of interest. After paying delinquent tax and related penalties to the tax collector, winning bidders are then entitled to receive their winning interest rate on the amount they paid the tax collector to purchase each certificate. The delinquent tax payer then becomes obligated to reimburse the purchaser the amount paid for the certificate plus a penalty based on the winning rate of interest bid for the certificate.

By conducting the auctions over the Internet, more bidders than ever submitted their bids on the Tax Collector's new, first-of-its-kind auction web sites at www.BidMiamiDade.com, www.BidOkaloosa.com, www.BidOrangeCounty.com, and www.BidVolusia.com. Deposits were taken and bids were submitted online for several weeks prior to the start of each auction.

In Orange County's auction, "The number of bidders and the number of bids they submitted was much higher than past years", said Earl Wood, Orange County Tax Collector. "I have been conducting tax certificate auctions in this county for 40 years, and I must admit this one is the most competitive and the most efficient. Our tax payers got the lowest interest rates ever and our local bidders won more certificates than ever before. So this Internet auction was a win-win as far as I'm concerned," Mr. Wood added.

Internet bidding for tax certificates in Florida became possible after State Representative Juan C. Zapata of Miami, sponsored legislation last year permitting such sales.

LienAuction service and each county's private label Internet web sites were developed and are hosted by Grant Street Group of Pittsburgh, Pennsylvania. Grant Street Group is the country's first and only Internet auction house dedicated exclusively to hosting auctions of fixed income instruments including new issues of bonds, notes, bills, certificates of deposit, guaranteed investment contracts, tax certificates, auction rate certificates and swaps. In addition to auction hosting, Grant Street Group designs, develops and licenses customized auction web sites used by municipal and federal agencies and major financial institutions serving as trustees, custodians, broker-dealers, exchange agents, auction agents, remarketing agents, etc. Since November 1997, Grant Street Group has hosted over 12,500 Internet auctions of fixed income instruments totaling more than $4.5 trillion. Grant Street Group is headquartered in Pittsburgh, Pennsylvania. More information is available at www.GrantStreet.com or by calling 412-391-5555.

Wells Fargo Online Auctions^SM will complement core bond trustee services

Pittsburgh, PA (May 3, 2004) Wells Fargo Bank, N.A. today announced the introduction of its new Auction Agent Services, featuring a new online auction site, Wells Fargo Online Auctions^SM.

Wells Fargo Online Auctions^SM will complement core bond trustee services

Pittsburgh, PA (May 3, 2004) Wells Fargo Bank, N.A. today announced the introduction of its new Auction Agent Services, featuring a new online auction site, Wells Fargo Online Auctions^SM. The new Web site, developed by Wells Fargo in conjunction with Grant Street Group, is located at www.wfauctions.com and allows real time access to dutch auction information to investors, issuers, broker-dealers and trustees. Dutch auctions are a method of resetting interest rates on municipal debt and other securities.

"Auction Agent Services are a natural complement to Wells Fargo's core bond trustee services," said Jenni Minardi, senior vice president of Wells Fargo Corporate Trust Services. "By using Wells Fargo as both Trustee and Auction Agent, issuers and broker-dealers significantly streamline the dutch auction process. We are a leading trustee for issuers of student loan backed securities, and health care debt. These issuers, as well as other municipal debt issuers, frequently issue Auction Rate Securities." Auction bids and results can be communicated to and from Wells Fargo in a variety of methods, including Wells Fargo Corporate Trust Services/Add one online or through customized electronic transmissions. Auction Agent Services will be offered through a dedicated Auction Agent Group within Wells Fargo Corporate Trust Services.

Wells Fargo Corporate Trust Services, one of the nation's leading corporate trust organizations, offers a variety of fiduciary and agency services in connection with debt securities issued by public and private corporations, government entities and the banking and securities industries, including mortgage-backed, asset-backed, CDO, municipal, and corporate/high yield and litigation settlement administration. Wells Fargo Corporate Trust Services has more than 1,200 team members in 28 offices nationwide and in the United Kingdom. The company serves on more than 12,000 issues totaling over $1 trillion in original issuance.

Wells Fargo & Company is a diversified financial services company with $397 billion in assets, providing banking, insurance, investments, mortgage and consumer finance from more than 5,900 stores and the Internet (wellsfargo.com) across North America and elsewhere internationally. Wells Fargo Bank, N.A. is the only "Aaa"- rated bank in the United States.

Pittsburgh, PA (March 30, 2004) Woodbury County, Iowa solicited $401,000 in CDs using GFOA YieldAdvantage, a new Internet auction web site offered by the Government Finance Officers Association.

Pittsburgh, PA (March 30, 2004) Woodbury County, Iowa solicited $401,000 in CDs using GFOA YieldAdvantage, a new Internet auction web site offered by the Government Finance Officers Association. Traditionally, government entities and school districts solicit bids from banks via phone. Using the GFOA YieldAdvantage web site, state and local governments are able to solicit bids easily and efficiently from a larger number of banks via the Internet and to conduct an on-line auction in which these banks bid against each other for the deposit. The state or local government gets the benefit of a higher investment rate from the combination of increased competition and the auction format. Solicitation amounts range from $100,000 (or less in some instances) to millions of dollars. In Woodbury County, the Treasurer was interested in investing $401,000 and accepted bids for 1, 2, and 3 year CDs from the County's 17 approved banks. After receiving bids on all 3 durations during the 30-minute auction, the County accepted the 2-year CD.

In December 2003, the GFOA entered into an alliance with Grant Street Group, a fixed income Internet auction house and parent of MuniAuction, to create the GFOA YieldAdvantage web site (www.gfoayield.com).

About the Government Finance Officers Association

The GFOA is the premier professional association in public finance, serving the needs of more than 15,000 governments in the United States and Canada. Established in 1906, GFOA is the main vehicle for recommended financial management practices that guide the state and local public sector. GFOA provides training programs, a wide range of publications and periodicals, renowned awards programs, and consulting services. For more information, visit the GFOA Web site at www.gfoa.org.

Pittsburgh, PA (February 5, 2004) Using an online auction platform for the first time, Cook County earned significantly better yields on the investment of its bond proceeds than it has in the past.

Pittsburgh, PA (February 5, 2004) Using an online auction platform for the first time, Cook County earned significantly better yields on the investment of its bond proceeds than it has in the past. The County placed $100 million in investments using GFOA YieldAdvantage, a new Internet auction website offered by the Government Finance Officers Association.

Tom Glaser, chief financial officer of Cook County, said he was pleased with the results of the sale. "We got more bids for more kinds of instruments and at more competitive rates than ever before", he said. "We will definitely be using this platform on a regular basis in the future. It simplified every aspect of the investment process, from soliciting bids to exchanging confirms and settlement information, and it's all done electronically."

The County held two back-to-back solicitations - one for a guaranteed investment contract (GIC) and the other for a laddered portfolio of open market securities comprised of treasury and agency securities, certificates of deposit, commercial paper and repurchase agreements.

Bids for the GIC were submitted in an "open" auction where bidders saw the rank of their bids and had the opportunity to improve their rates. Fifty-three bids were submitted by 11 firms, with the winning firm receiving the award for the $80 million investment at an interest rate of 1.20 percent.

The laddered portfolio transaction was a "sealed" solicitation in which eight banks and broker-dealers submitted quotes for 10 individual maturities ranging from one to 10 months. The best aggregate rate for the portfolio was 1.03 percent. This solicitation resulted in two $10 million awards, with the County purchasing 60-day commercial paper and a 90-day agency discount note from the two firms quoting the best rates for those maturities.

Both the 1.20 percent GIC rate and 1.03 percent aggregate portfolio rate obtained on YieldAdvantage were superior to the benchmark, a 0.93 percent yield on a Treasury Bill of comparable term.

In December 2003, the GFOA entered into an alliance with Grant Street Group, a fixed income Internet auction house and parent of MuniAuction, to create the GFOA YieldAdvantage web site (www.gfoayield.com).

About the Government Finance Officers Association

The GFOA is the premier professional association in public finance, serving the needs of more than 15,000 governments in the United States and Canada. Established in 1906, GFOA is the main vehicle for recommended financial management practices that guide the state and local public sector. GFOA provides training programs, a wide range of publications and periodicals, renowned awards programs, and consulting services. For more information, visit the GFOA Web site at www.gfoa.org.