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For Immediate Release:

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

T.M. “Tedd” Alexander Launches Credo Capital An Institutional Investment Management Firm

Baltimore, Maryland — April 12, 2004 — T.M. “Tedd” Alexander III, Managing Member and Portfolio Manager, announced today the founding of Credo Capital Management, LLC in Baltimore, Maryland. As a manager in the Growth investment style, Tedd will use ABACUS, a proprietary, forward-looking investment tool, to uniquely discover investment opportunities and control risk for institutional clients. In so doing, the firm seeks to deliver consistently superior investment performance through all economic and market climates.

Mr. Alexander commented, “A 75 year family legacy of business builders and educators provides me with the integrity, discipline and insight required to be a successful entrepreneur. More than 15 years of institutional investment industry experience gives me the confidence, humility and foresight necessary for success as a fiduciary and investor of clients’ assets. With these gifts and responsibilities, I look forward to building a world-class team of investment professionals and to forging many long-lasting relationships with clients.”

Prior to founding Credo Capital Management, Mr. Alexander was a Vice President and Portfolio Manager with Brown Capital Management in Baltimore . He joined Brown Capital in 1995 as a Portfolio Manager/Analyst after having been a sell-side analyst for Alex. Brown & Sons and Legg Mason Wood Walker for five years. Mr. Alexander began his career as an Investment Banker with E.F. Hutton in New York .

Tedd earned his MBA from the Wharton School , University of Pennsylvania in 1990. He received a BA in Computer Science from Morehouse College in his hometown of Atlanta , Georgia .

Mr. Alexander is married to Teri, his wife of 14 years and has three sons, Teddy IV (9), Julian (7), and Cameron (3). They have lived in Baltimore for the last 14 years.