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For Immediate Release:

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

Melanie H. Mendoza joins Credo Capital Management as Chief Compliance Officer

Baltimore , Maryland — April 19, 2004 — Credo Capital Management announced today that Melanie H. Mendoza has joined the firm as Chief Compliance Officer. In her new role, Melanie will be responsible for corporate compliance, trading and portfolio administration.

Tedd Alexander, Managing Member at Credo stated, “I am proud to have Melanie join the team that will serve as the foundation of Credo. Her 22 years of experience in investment operations and trading will ensure that we deliver the highest level of client service and the strictest adherence to regulatory and ethical behavior. During the five years we worked together at Brown Capital Management, I came to know Melanie possesses the highest level of integrity and diligence.”

Melanie’s experience in client service, trading operations and compliance with major buy-side and sell-side investment firms include brokerage sales with E.F. Hutton and Alex. Brown, as well as, holding positions of Portfolio Administrator and Trader with Brown Capital Management. Prior to joining Credo, Melanie worked as a Compliance Analyst with UBS Financial.

Melanie is a graduate of the College of Notre Dame of Maryland located in Baltimore .

Credo Capital Management provides investment advisory services to institutional clients. Headquartered in Baltimore , Maryland , Credo Capital Management is registered under the Maryland Securities Act as a limited liability company.