Pinnacle Management & Trust Announces Strategic Alliance With 66 Financial Services

Apr 05, 2001, 01:00 ET from Pinnacle Global Group, Inc.

    HOUSTON, April 5 /PRNewswire/ -- Pinnacle Management & Trust Co. (PMT), a
 subsidiary of Pinnacle Global Group, Inc. (Nasdaq:   PING), today announced that
 it has entered into a strategic alliance with 66 Financial Services, Inc. to
 offer trust and money management services to the 50,000 members of 66 Federal
 Credit Union.  66 Financial Services (66 FSI) is a subsidiary of 66 Federal
 Credit Union (66 FCU), whose members include the employees of Phillips
 Petroleum Company, Tyson Foods, Inc. and the University of Kansas.  Pinnacle
 Management & Trust Co. will open a trust office in the 66 FCU headquarters in
 Bartlesville, Oklahoma from which it will market its advisory services.
     "We are delighted to be associated with 66 Federal Credit Union," stated
 Stephen D. Strake, president and chief operating officer of Pinnacle
 Management & Trust Co.  "We believe that our long-standing commitment to
 client service and the personal attention given to each account will result in
 an excellent relationship for credit union members and provide Pinnacle with
 an opportunity to increase our client base."
     "After extensive research, we chose Pinnacle Management & Trust Co. to
 offer trust and money management services to our members because of Pinnacle's
 commitment to providing personalized service to its clients," said Mark
 Humphries, executive vice president and chief operating officer of 66 FCU.
 "Through this alliance, we can offer our membership flexibility in total
 financial management by providing them with the option of consolidating assets
 under the direction of Pinnacle's professional investment managers.  We feel
 that trust services are a valuable addition the range of financial services
 that we offer our membership."
     Robert E. Garrison II, president and chief executive officer of Pinnacle
 Global Group commented, "We believe that the strategic alliance between 66 FCU
 and PMT opens up a new channel of distribution for our asset management and
 trust services and will be a key contributor to future growth of assets under
 management."
     66 Federal Credit Union provides its members with a range products and
 services, including savings and checking accounts, certificates, money market
 accounts, Individual Retirement Accounts (IRAs), credit cards, and loan and
 mortgage services.  Through the credit union's wholly owned subsidiary 66 FSI,
 it currently provides brokerage, investment and financial planning services.
     Pinnacle Management & Trust Co., based in Houston, Texas, is chartered by
 the State of Texas and is a member of the Association of Independent Trust
 Companies (AITCO).  Pinnacle provides trust and investment management services
 to individual clients, charitable organizations, employee benefit plans and
 independent banks throughout the southwestern United States.
     Pinnacle Global Group, Inc. is a diversified financial services firm based
 in Houston, Texas.  It is the public holding company for Sanders Morris
 Harris, Pinnacle Management & Trust Co., and Cummer/Moyers Financial Advisors.
 A copy of this press release may be obtained at www.pinnacleglobal.com.
     In addition to the historical information, this press release contains
 certain forward-looking statements under federal securities laws, including
 statements regarding Pinnacle Global Group, Inc.'s expected future business
 and prospects.  These forward-looking statements are based upon current
 expectations and involve certain risks and uncertainties that could cause
 actual results to differ materially from any such statement.  These risks and
 uncertainties, many of which are beyond the Company's control, include but are
 not limited to (1) trading volume in the securities markets; (2) volatility of
 the securities markets and interest rates; (3) changes in regulatory
 requirements which could affect the demand for the Company's services or the
 cost of doing business; (4) general economic conditions, both domestic and
 foreign, especially in the regions where the Company does business; (5)
 changes in the rate of inflation and related impact on securities markets; (6)
 competition from existing financial institutions and other new participants in
 the securities markets; (7) legal developments affecting the litigation
 experience of the securities industry; (8) successful implementation of
 technology solutions (9) demand for the Company's service and (10) the
 prospects and benefits of the strategic alliance described in this press
 release.  The Company does not undertake any obligation to update or revise
 any forward-looking statement.
 
 

SOURCE Pinnacle Global Group, Inc.
    HOUSTON, April 5 /PRNewswire/ -- Pinnacle Management & Trust Co. (PMT), a
 subsidiary of Pinnacle Global Group, Inc. (Nasdaq:   PING), today announced that
 it has entered into a strategic alliance with 66 Financial Services, Inc. to
 offer trust and money management services to the 50,000 members of 66 Federal
 Credit Union.  66 Financial Services (66 FSI) is a subsidiary of 66 Federal
 Credit Union (66 FCU), whose members include the employees of Phillips
 Petroleum Company, Tyson Foods, Inc. and the University of Kansas.  Pinnacle
 Management & Trust Co. will open a trust office in the 66 FCU headquarters in
 Bartlesville, Oklahoma from which it will market its advisory services.
     "We are delighted to be associated with 66 Federal Credit Union," stated
 Stephen D. Strake, president and chief operating officer of Pinnacle
 Management & Trust Co.  "We believe that our long-standing commitment to
 client service and the personal attention given to each account will result in
 an excellent relationship for credit union members and provide Pinnacle with
 an opportunity to increase our client base."
     "After extensive research, we chose Pinnacle Management & Trust Co. to
 offer trust and money management services to our members because of Pinnacle's
 commitment to providing personalized service to its clients," said Mark
 Humphries, executive vice president and chief operating officer of 66 FCU.
 "Through this alliance, we can offer our membership flexibility in total
 financial management by providing them with the option of consolidating assets
 under the direction of Pinnacle's professional investment managers.  We feel
 that trust services are a valuable addition the range of financial services
 that we offer our membership."
     Robert E. Garrison II, president and chief executive officer of Pinnacle
 Global Group commented, "We believe that the strategic alliance between 66 FCU
 and PMT opens up a new channel of distribution for our asset management and
 trust services and will be a key contributor to future growth of assets under
 management."
     66 Federal Credit Union provides its members with a range products and
 services, including savings and checking accounts, certificates, money market
 accounts, Individual Retirement Accounts (IRAs), credit cards, and loan and
 mortgage services.  Through the credit union's wholly owned subsidiary 66 FSI,
 it currently provides brokerage, investment and financial planning services.
     Pinnacle Management & Trust Co., based in Houston, Texas, is chartered by
 the State of Texas and is a member of the Association of Independent Trust
 Companies (AITCO).  Pinnacle provides trust and investment management services
 to individual clients, charitable organizations, employee benefit plans and
 independent banks throughout the southwestern United States.
     Pinnacle Global Group, Inc. is a diversified financial services firm based
 in Houston, Texas.  It is the public holding company for Sanders Morris
 Harris, Pinnacle Management & Trust Co., and Cummer/Moyers Financial Advisors.
 A copy of this press release may be obtained at www.pinnacleglobal.com.
     In addition to the historical information, this press release contains
 certain forward-looking statements under federal securities laws, including
 statements regarding Pinnacle Global Group, Inc.'s expected future business
 and prospects.  These forward-looking statements are based upon current
 expectations and involve certain risks and uncertainties that could cause
 actual results to differ materially from any such statement.  These risks and
 uncertainties, many of which are beyond the Company's control, include but are
 not limited to (1) trading volume in the securities markets; (2) volatility of
 the securities markets and interest rates; (3) changes in regulatory
 requirements which could affect the demand for the Company's services or the
 cost of doing business; (4) general economic conditions, both domestic and
 foreign, especially in the regions where the Company does business; (5)
 changes in the rate of inflation and related impact on securities markets; (6)
 competition from existing financial institutions and other new participants in
 the securities markets; (7) legal developments affecting the litigation
 experience of the securities industry; (8) successful implementation of
 technology solutions (9) demand for the Company's service and (10) the
 prospects and benefits of the strategic alliance described in this press
 release.  The Company does not undertake any obligation to update or revise
 any forward-looking statement.
 
 SOURCE  Pinnacle Global Group, Inc.