Dahlman Rose & Co. Launches Exploration & Production and Oilfield Service Investment Banking Group

Appoints Managing Director to Head New Office Located in New Orleans

Hires Team of Senior Investment Bankers

May 31, 2007, 01:00 ET from Dahlman Rose & Co., LLC

    NEW YORK, May 31 /PRNewswire/ -- Dahlman Rose & Co., LLC, a leading
 investment bank specializing in marine transport, energy, natural resources
 and related industries, today announced the launch of its Exploration &
 Production (E&P) and Oilfield Service investment banking group. The new
 group will be headquartered in New Orleans, Louisiana.
     Simon Rose, Chief Executive Officer at Dahlman Rose, stated, "We are
 pleased to further expand our investment banking services to include a
 group initially dedicated to the E&P market and Oilfield Service. Our
 decision to locate this new group in New Orleans reflects the city's long
 tradition serving energy companies and status as an important energy port
 city. We are committed to support the growth of E&P and Oilfield Service
 companies as we further our strategy of providing value-added investment
 banking services to leading companies that operate along the energy supply
     The Company also announced that it has named Stanley E. Ellington, Jr.
 as Managing Director to head the new E&P and Oilfield Service investment
 banking group, effective immediately. Mr. Ellington, joins Dahlman Rose
 with more than 30 years of experience in the energy industry. In the new
 position, he will be responsible for overseeing the E&P and Oilfield
 Service group that will provide investment banking services, including
 public offerings of equity, private placements of equity and debt,
 financial advisory, and merger, acquisition, and divestiture services.
 Previously, he served as Managing Director, Corporate Finance for Capital
 One Southcoast, Inc., where he successfully raised equity capital for
 various energy companies. Prior to that, he was Vice President and Chief
 Financial Officer at Production Management Companies, Inc, a privately-held
 oilfield services company, for ten years and was also a member of the
 company's Board of Directors. Mr. Ellington received a MBA from Tulane
 University and completed his undergraduate degree at Louisiana State
 University in Baton Rouge.
     In addition to Mr. Ellington, Dahlman Rose has appointed Michael R.
 Uffman and Earl A. Stolz, III as Vice Presidents, Investment Banking in the
 E&P group. Both Mr. Uffman and Mr. Stolz previously served under Mr.
 Ellington at Capital One Southcoast's investment banking division. Mr.
 Uffman received a MBA in Finance and completed his undergraduate degree at
 Louisiana State University in Baton Rouge. Mr. Stolz received a MBA in
 Finance and Entrepreneurship from Tulane University's Freeman School of
 Business and completed his undergraduate degree at Stanford University.
     "We are delighted Stan and his talented team will join our Company as
 we further solidify our commitment to the E&P and Oilfield Service
 markets," said Ernie Dahlman, President at Dahlman Rose. "Combined, our new
 E&P and Oilfield Service banking group brings more than 50 years of
 industry expertise to Dahlman Rose and the energy capital markets. We are
 confident their extensive experience and strong industry relationships will
 add considerable long-term value for our growing client base."
     "My team and I look forward to working with Simon and Ernie, and the
 rest of the staff at Dahlman Rose," commented Stanley Ellington, Jr.
 "Dahlman Rose has established an extremely strong reputation in the energy
 industry. We are excited by the opportunity to build on the Company's
 success and grow an investment banking practice serving global energy
     About Dahlman Rose & Co., LLC
     Dahlman Rose & Company, LLC (MEMBER: NASD/SIPC) is a leading investment
 bank that offers exceptional research, trading and investment banking
 capabilities across the entire capital structure to clients in the U.S. and
 globally. The firm provides performance for its clients through its sector
 specialization, and its personnel are attuned to the important day-to-day
 drivers in daily share price movement. The Dahlman Rose team specializes in
 verticals within the energy sector, including marine shipping and offshore
 services, exploration and production, Oilfield Service, and electric
 utilities. Our team has cultivated a thorough understanding of these
 industries and their drivers by leveraging relationships with an extensive
 roster of company management and industry contacts.

SOURCE Dahlman Rose & Co., LLC