Press Release

To receive a copy of the 2009 Analyst’s Best Picks List, please contact your Raymond James financial advisor or use the Office Locator to find an office convenient to you.

December 31, 2008

RAYMOND JAMES RELEASES
2009 ANALYST’S BEST PICKS LIST

ST. PETERSBURG, Fla. – The Raymond James Equity Research Department has released its popular Analysts’ Best Picks list for 2009 to Raymond James’ financial advisors for their exclusive use with clients. The list, according to David Henwood, chief investment officer, highlights individual stocks that Raymond James’ analysts expect to produce superior overall results during the upcoming year.

This year’s Analysts’ Best Picks list includes 15 stocks that have undergone a rigorous screening process and, according to Henwood, “The lists have outperformed the S&P 500 index – an unmanaged index of 500 widely held stocks – by an average of 27.1% annually over the past decade*. Although we are just finishing what has been an extraordinarily difficult year for equity investing, I believe the overall results of this list reinforce the wisdom behind Raymond James’ long-term investing approach.”

While past performance is not indicative of future results, since 1999, a total of 107 stocks have been recommended through the Raymond James Analysts’ Best Picks list. Of this total, 66 advanced (61.7%) and 41 declined (38.3%) within the recommended holding period. Of course, an investor would incur commissions to transact these recommendations.

According to Henwood, list submission is limited to analysts with significant research experience and a minimum of three years following the recommended industry as lead analyst or five years of total sell-side experience. The list may only contain one company from any specific industry, and analysts who choose to participate may submit only one stock. In addition, because this is a static, one-year list, only those companies with a “Strong Buy 1” rating from a Raymond James analyst qualify. “Each company must also have a market capitalization of at least $500 million and a stock price greater than $10,” Henwood stated. “If the stock price is under $20, the company is required to have market capitalization of at least $1 billion. Other conditions, such as average daily trading value of at least $10 million over the last 20 trading days, are also considered.”

Henwood reminds investors that individual results will vary and transaction costs related to investing in these stocks will affect overall performance. There is no assurance that stocks on the Analysts’ Best Picks list will achieve the results expected and investors may incur profits or losses.

“An appropriate strategy is to incorporate a disciplined, long term investment approach,” Henwood continued. “Although incorporating stocks recommended by our Equity Research Department into an overall portfolio may be a good idea for many investors, investing in individual stocks, particularly small- and mid-cap issues, is not for everyone. It takes a strong risk tolerance, not to mention a good understanding of market cycles, to keep perspective in a down market.”

“Past performance is not indicative of future results. However, based on the overall superior long-term record of our Analysts’ Best Picks list, we have high hopes for the 2009 edition,” Henwood concluded.

About Raymond James Financial
Raymond James Financial (NYSE-RJF) is a Florida-based diversified holding company providing financial services to individuals, corporations and municipalities through its subsidiary companies. Its three principal wholly owned broker/dealers (Raymond James & Associates, Raymond James Financial Services and Raymond James Ltd.) and Raymond James Investment Services Limited, a majority-owned independent contractor subsidiary in the United Kingdom, have a total of more than 5,000 financial advisors serving approximately 1.8 million accounts in 2,200 locations throughout the United States, Canada and overseas. In addition, total client assets are currently $167 billion, of which approximately $27 billion are managed by the firm’s asset management subsidiaries.

* Annual average Analysts’ Best Picks total return performance minus the comparable S&P 500 performance for 1999 through the close of December 4, 2008. The holding period for each year’s list is approximately 55 weeks from the inception date to December 31 of the following year. An investor would incur commissions (and interest charges if transacted in a margin account) to transact these recommendations.

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For more information, contact Anthea Penrose at 727-567-2824.
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