WASHINGTON, D.C. - March 31, 2003 - The Securities Investor Protection Corporation (SIPC), which maintains a special reserve fund authorized by Congress to help investors at bankrupt brokerage firms, announced today that $64 million in customer assets at the defunct Rocky Mountain Securities and Investments brokerage firm have been transferred to Indianapolis Securities, Inc.

Of the 5,282 accounts identified by the SIPC trustee handling the Rocky Mountain Securities and Investments liquidation proceeding, a total of 3,837 accounts contained assets. As of March 24, 2003, nearly all former Rocky Mountain customers regained access to their accounts, with Indianapolis Securities, Inc., serving as introducing broker and FiServ, as clearing broker. A handful of accounts, including those of the Rocky Mountain broker alleged to be responsible for customer losses, remain under the control of the SIPC trustee.

General Counsel for SIPC Steve Harbeck said: "The goal of the Securities Investor Protection Corporation in this matter has been to restore the access of customers to their accounts as quickly as possible. While the investigation into this matter is not yet complete, the good news here is that the liquidation is proceeding smoothly and that former customers of Rocky Mountain Securities are now able to either do business through Indianapolis Securities or another brokerage firm of their choosing."

SIPC Trustee John Shively, of Faegre & Benson LLP, said: "Now that the customer accounts have been transferred, we are able to focus on the continuing investigation of Rocky Mountain Securities' losses and the liquidation of the firm. Protecting the investments of Rocky Mountain customers remains our first priority as we work quickly to expedite the payment of customer claims. In order to ensure payment, all customer claims must reach the office of this trustee by May 19, 2003."

Former Rocky Mountain customers can contact the president of Indianapolis Securities, Ann Greene, at (561) 966-6990, or its Chief Compliance Officer, John Telfer, at (866) 330-4639, for questions relating to their accounts.

On February 6, 2003, Rocky Mountain was placed in liquidation under the Securities Investor Protection Act (SIPA) of 1970 by order of the United States District Court for the District of Colorado.