FBR Initiates Coverage of Manugistics Group, Inc.

Apr 24, 2001, 01:00 ET from Friedman, Billings, Ramsey Group, Inc.

    ARLINGTON, Va., April 24 /PRNewswire Interactive News Release/ --
 Friedman, Billings, Ramsey & Co., Inc., a subsidiary of Friedman, Billings,
 Ramsey Group, Inc. (NYSE:   FBR), today initiated coverage of Manugistics Group,
 Inc. (Nasdaq:   MANU) with an "Accumulate" rating and a 12-month price target of
 $34 per share.
     Senior Software Analyst David M. Hilal identified Manugistics as the clear
 #2 player in supply chain management (SCM), and said the company has
 positioned itself as a leading vendor in the e-business collaboration market.
 Mr. Hilal expects the company to benefit from its established customer base,
 strong technology, strategic partnerships, and multifaceted growth strategy.
     "We believe the market opportunity for Manugistics continues to grow as
 the company broadens its product portfolio," Mr. Hilal said.  "Supply chain
 management is a mission-critical strategic application, and Manugistics is
 emerging as one of the leading vendors in this arena.  The company's core SCM
 applications, B2B exchange platform, and pricing and revenue optimization
 (PRO) capabilities position Manugistics extremely well, and it is poised to
 take advantage of this rapidly growing market opportunity."
     Manugistics Group, Inc. is a leading provider of supply chain management
 solutions for the Global 2000 companies, and has recently begun to offer
 pricing and revenue optimization (PRO) capabilities through its acquisition of
 Talus Solutions.  Manugistics helps companies lower operating costs, enhance
 profitability, and accelerate growth by optimizing the supply-demand network
 from design and procurement through pricing and delivery.  At the end of
 fiscal year 2001, Manugistics had more than 1,400 employees in more than 15
 countries.  The company has more than 1,100 customers that span many industry
 segments including CPG/retail, manufacturing, chemicals, technology, and
 government.
     Manugistics Group, Inc. closed last night at $29.85 per share.
     For a complete copy of this report, please visit http://www.fbr.com , or
 contact your FBR institutional salesperson.
 
     Friedman, Billings, Ramsey Group, Inc. (NYSE:   FBR), the parent company of
 Friedman, Billings, Ramsey & Co., Inc., is a financial holding company for
 investment banking, institutional brokerage, specialized asset management, and
 banking products and services.  FBR provides capital and financial expertise
 throughout a company's lifecycle and affords investors access to a range of
 proprietary financial products and services.  Headquartered in the Washington
 metropolitan area, FBR has offices in Arlington and Reston, Va., Bethesda,
 Md., Boston, Charlotte, Chicago, Cleveland, Dallas, Irvine, Ca., New York
 City, Portland, Seattle, London, and Vienna.  For more information, see
 http://www.fbr.com .
     Friedman, Billings, Ramsey & Co., Inc. makes a market in the common shares
 of the subject company.  Additional information on the securities mentioned in
 this report is available upon request.  This report is based on data obtained
 from sources we believe to be reliable, but is not guaranteed as to accuracy
 and does not purport to be complete.  Because of individual client objectives,
 this report should not be construed as advice designed to meet the particular
 investment needs of any investor. Any opinions expressed herein are subject to
 change.  This report is not to be construed as an offer or the solicitation of
 an offer to buy or sell the securities herein mentioned.  The analysts in this
 report may at one time have a long or short position in the securities
 mentioned in this report.  From time to time, this firm, its affiliated
 entities and/or their respective directors, officers, employees or members of
 their immediate families may have a long or short position in the securities
 mentioned in this report.  These securities may be sold to or purchased from
 customers or otherwise by this firm, its affiliated entities, and/or its
 directors, officers, employees or members of their immediate families, as
 principal or agent.
 
     Friedman, Billings, Ramsey Group, Inc. is a member of the National
 Association of Securities Dealers, CRD number 25027.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X58961738
 
 

SOURCE Friedman, Billings, Ramsey Group, Inc.
    ARLINGTON, Va., April 24 /PRNewswire Interactive News Release/ --
 Friedman, Billings, Ramsey & Co., Inc., a subsidiary of Friedman, Billings,
 Ramsey Group, Inc. (NYSE:   FBR), today initiated coverage of Manugistics Group,
 Inc. (Nasdaq:   MANU) with an "Accumulate" rating and a 12-month price target of
 $34 per share.
     Senior Software Analyst David M. Hilal identified Manugistics as the clear
 #2 player in supply chain management (SCM), and said the company has
 positioned itself as a leading vendor in the e-business collaboration market.
 Mr. Hilal expects the company to benefit from its established customer base,
 strong technology, strategic partnerships, and multifaceted growth strategy.
     "We believe the market opportunity for Manugistics continues to grow as
 the company broadens its product portfolio," Mr. Hilal said.  "Supply chain
 management is a mission-critical strategic application, and Manugistics is
 emerging as one of the leading vendors in this arena.  The company's core SCM
 applications, B2B exchange platform, and pricing and revenue optimization
 (PRO) capabilities position Manugistics extremely well, and it is poised to
 take advantage of this rapidly growing market opportunity."
     Manugistics Group, Inc. is a leading provider of supply chain management
 solutions for the Global 2000 companies, and has recently begun to offer
 pricing and revenue optimization (PRO) capabilities through its acquisition of
 Talus Solutions.  Manugistics helps companies lower operating costs, enhance
 profitability, and accelerate growth by optimizing the supply-demand network
 from design and procurement through pricing and delivery.  At the end of
 fiscal year 2001, Manugistics had more than 1,400 employees in more than 15
 countries.  The company has more than 1,100 customers that span many industry
 segments including CPG/retail, manufacturing, chemicals, technology, and
 government.
     Manugistics Group, Inc. closed last night at $29.85 per share.
     For a complete copy of this report, please visit http://www.fbr.com , or
 contact your FBR institutional salesperson.
 
     Friedman, Billings, Ramsey Group, Inc. (NYSE:   FBR), the parent company of
 Friedman, Billings, Ramsey & Co., Inc., is a financial holding company for
 investment banking, institutional brokerage, specialized asset management, and
 banking products and services.  FBR provides capital and financial expertise
 throughout a company's lifecycle and affords investors access to a range of
 proprietary financial products and services.  Headquartered in the Washington
 metropolitan area, FBR has offices in Arlington and Reston, Va., Bethesda,
 Md., Boston, Charlotte, Chicago, Cleveland, Dallas, Irvine, Ca., New York
 City, Portland, Seattle, London, and Vienna.  For more information, see
 http://www.fbr.com .
     Friedman, Billings, Ramsey & Co., Inc. makes a market in the common shares
 of the subject company.  Additional information on the securities mentioned in
 this report is available upon request.  This report is based on data obtained
 from sources we believe to be reliable, but is not guaranteed as to accuracy
 and does not purport to be complete.  Because of individual client objectives,
 this report should not be construed as advice designed to meet the particular
 investment needs of any investor. Any opinions expressed herein are subject to
 change.  This report is not to be construed as an offer or the solicitation of
 an offer to buy or sell the securities herein mentioned.  The analysts in this
 report may at one time have a long or short position in the securities
 mentioned in this report.  From time to time, this firm, its affiliated
 entities and/or their respective directors, officers, employees or members of
 their immediate families may have a long or short position in the securities
 mentioned in this report.  These securities may be sold to or purchased from
 customers or otherwise by this firm, its affiliated entities, and/or its
 directors, officers, employees or members of their immediate families, as
 principal or agent.
 
     Friedman, Billings, Ramsey Group, Inc. is a member of the National
 Association of Securities Dealers, CRD number 25027.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X58961738
 
 SOURCE  Friedman, Billings, Ramsey Group, Inc.