F I N A N C I A L     H I G H L I G H T S


Revenue Growth
  1999 1998
REVENUE    
Corporate Lending 642,282 502,651
Loan Syndications 123,224 98,922
Underwriting 109,869 100,965
Fixed Income and Derivative trading 376,132 294,862
Equity trading and Derivatives 197,409 35,689
Funding and Money Market trading 119,492 138,342
Advisory and placement fees 115,953 41,599
Merchant Banking 120,737 91,081
Foreign Exchange 129,790 102,439
Other 209,729 242,129
  $2,144,617 $1,648,679
     
     
SUMMARY 1999 1998
ASSETS IN THE BUSINESS    
Cash 2,895,609 514,980
Securities owned 51,064,000 37,207,000
Securities purchased under resale agreements 25,708,000 12,291,000
Market revaluation of trading derivatives 9,651,000 12,898,000
Loans 26,839,528 31,057,973
  $116,158,137 $93,968,953
     
     
REGULATORY CAPITAL OF SUBSIDIARIES    
Shareholders' equity 735,414 900,060
Subordinated loans – drawn 860,711 902,655
Capital in business 1,596,124 1,802,715
Subordinated loans – standby 550,000 550,000
  $2,146,124 $2,352,715