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For Immediate Release:

For additional information contact:
Tedd M. Alexander III
Managing Member
410.244.6200
www.credocm.com

Credo Capital Management Announces Herman Hendricks Joins Advisory Board

Baltimore , Maryland — March 7, 2005—Credo Capital Management announced today that Herman A. Hendricks joined the firms Advisory Board. Herman will provide business counsel and guidance to Credo’s executive management.

Tedd Alexander, Managing Member stated, “Herman’s intellect, credibility, dedication and talent will provide invaluable experience to the growth of Credo. His executive management experience will provide me with footprints to follow on my way to building a world-class investment management team. I am proud and honored to have him as the founding member of our Advisory Board.”

Mr. Hendricks added, “During my 42 years in banking, I managed and was guided by strong leaders, true entrepreneurs, who developed successful organizations. I see in Tedd and the team at Credo the kernel of a successful investment management company whose degree of success is only limited by time. I am delighted to assist Credo reach its full potential.”

Mr. Hendricks is an accomplished entrepreneur, civic leader, and financial executive whose career in finance extends over 42 years. Mr. Hendricks is currently Director Emeritus and was formerly Board Vice Chairman, California Higher Education Loan Authority (CHELA), in California. He was the former Chairman and CEO, Bank of Finance, Los Angeles and was Vice President and Manager, First Los Angeles Bank. He began his career at Bank of America in 1957 as a computer programmer.

Mr. Hendricks received his Juris Doctorate from the University of West Los Angeles in 1973 and received a B.S., in Mathematics and Chemistry from Lincoln, University in 1952.

Founded in 2004, Credo Capital Management provides investment advisory services to institutional clients. Headquartered in Baltimore , Maryland , Credo Capital Management, LLC is registered as an Investment Advisor under the Maryland Securities Act.

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