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EXHIBIT 99.1
SEPTEMBER 5, 2000
FOR IMMEDIATE RELEASE CONTACT:
Deborah O'Halloran
(612) 370-2767
(800) 444-7884
KINNARD INVESTMENTS, INC. SHAREHOLDERS APPROVE
STOCKWALK MERGER
MINNEAPOLIS, September 5, 2000 - Kinnard Investments, Inc. (Nasdaq: KINN) today
announced that its shareholders have approved the merger of Kinnard with a
wholly owned subsidiary of Stockwalk.com Group, Inc (Nasdaq: STOK).
On June 5, 2000, Kinnard, R. J. Steichen & Company, and Stockwalk.com Group
announced they would combine their securities brokerage and investment banking
firms under the Stockwalk.com Group holding company. Steichen and Stockwalk
completed their transaction on August 1, 2000. Kinnard officials commented that
they expect the Kinnard/Stockwalk transaction to close on or about September 11,
2000. In the transaction Kinnard shareholders will receive for each share of
Kinnard common stock $6.00 in cash and .7676 of a share of Stockwalk common
stock.
Kinnard Investments, Inc., is a Minneapolis-based financial services holding
company which serves the needs of retail and institutional clients by focusing
on emerging growth companies in the Upper Midwest for its investment banking,
research and market making activities, and by specializing in the origination
and trading of corporate and municipal fixed income products. Kinnard has been
in business since 1944 and employs approximately 275 employees across twelve
offices in Minnesota, North Dakota and South Dakota.
Except for historical information contained herein, the matters set forth in
this press release, including management's expectations regarding future growth
and profitability, are forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Forward-looking statements
involve certain risks and uncertainties that could cause actual results to
differ materially from those forward-looking statements. These potential risks
and uncertainties include, among other factors, the volatile nature of financial
markets and the securities industry, dependence on and competition for
experienced personnel, and federal and state regulatory and legislative changes.
