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Institutional Cash Distributors (ICD) Reaches $1 Billion Mark
San Francisco, CA, July 24, 2003 - Merriman Curhan Ford & Co. ("MCF"), a securities broker-dealer and investment bank, and subsidiary of MCF Corporation (AMEX: MEM), today announced that Institutional Cash Distributors ("ICD"), a premier broker of money funds serving the short-term investing needs of corporate treasury departments at companies throughout the United States, has reached the $1 billion mark in funds brokered for its clients. ICD is a division of Merriman Curhan Ford & Co.
"The $1 billion milestone shows the incredible progress we have made in the two months since our official launch," stated Tom Newton, co-founder and senior managing director of ICD. "It is a clear indication that our institutional clients are receiving the products and service they need to fulfill their short-term investing needs. MCF has proven to be a great platform from which to grow. We are confident that the headway we have made to date will continue at a rapid pace."
Edwin Baldry, also a co-founder and senior managing director of ICD added, "There is no doubt that the way in which we have approached this business has been a key component to our rapid success. Our unique web-based portal is a one-stop solution that gives clients access to a comprehensive list of over 40 different fund family options and unparalleled operational efficiency through one application, one wire and one statement that consolidates reporting regardless of the number of funds utilized. The client response to our approach has been overwhelmingly favorable."
ICD was launched as a division of Merriman Curhan Ford & Co. on May 14, 2003 and was co-founded by Edwin P. Baldry, Jeffrey C. Jellison and Thomas P. Newton. Messrs. Baldry and Newton, along with Mason Martin, ICD's trade desk manager, were all previously with Deutsche Asset Management / Scudder Investments. Mr. Jellison was formerly with JP Morgan and MidAtlantic / Sunguard.
"We have been confident from day one that through their relationships and innovative approach to the institutional money fund business that the ICD team would not only be successful, but over time would also be a significant component of MCF's recurring revenue stream," stated Jon Merriman, CEO of Merriman Curhan Ford & Co. "It does not surprise me that this aggressive, high caliber team has reached this goal in so short a time frame."
About Institutional Cash Distributors (ICD)
Institutional Cash Distributors ("ICD") is a premier broker of money funds serving the short-term investing needs of corporate finance departments at companies throughout the United States. Companies using ICD's services receive access to a comprehensive product line of over 40 different fund family options through ICD's one-stop process that includes one application, one wire and one statement consolidating reporting regardless of the number of funds utilized. Further information about ICD's services can be found at www.icdfunds.com or by contacting Mason Martin at 1-800-611-4ICD. ICD is a division of Merriman Curhan Ford & Co., a member of the National Association of Securities Dealers, Inc. and SIPC.
About Merriman Curhan Ford & Co. and MCF Corporation
Merriman Curhan Ford & Co. ("MCF") is a securities broker-dealer and investment bank focused on emerging growth companies and growth-oriented institutional investors. MCF provides sales and trading services primarily to institutions, as well as advisory and investment banking services to corporate clients. MCF's mission is to become a leader in the researching, advising, financing and trading of emerging growth equities. Merriman Curhan Ford & Co. is a subsidiary of MCF Corporation (AMEX: MEM) and is registered with the Securities and Exchange Commission as a broker-dealer and is a member of the National Association of Securities Dealers, Inc. and SIPC.
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Note to Investors
This press release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors disclosed in our Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on April 30, 2003. Forward-looking statements include statements regarding our expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," "will," and "would" or similar words. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise.
For more information contact::
Michael Mandelbaum
Mandelbaum Partners
310-202-6468
michaelm@mandelbaumpartners.com
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