Finance News

Tuesday, September 13, 2005

Castle Convertible Fund, Inc. Declares Dividend

Castle Convertible Fund, Inc. Declares Dividend

NEW YORK, Sept. 13 /PRNewswire-FirstCall/ -- The Board of Directors of Castle Convertible Fund, Inc. (AMEX:CVF), a closed-end investment company managed by Fred Alger Management, Inc., declared a dividend of $0.17 per share to shareholders of record on September 30, 2005, payable October 17, 2005.

Contact: Frederick A. Blum
Executive Vice President
Fred Alger Management, Inc.
(201) 547-3600

Source: Fred Alger Management, Inc.

CONTACT: Frederick A. Blum, Executive Vice President of Fred Alger
Management, Inc., +1-201-547-3600

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Profile: financial services

Mercantile Bankshares Corporation Announces Quarterly Cash Dividend

Mercantile Bankshares Corporation Announces Quarterly Cash Dividend

BALTIMORE, Sept. 13 /PRNewswire-FirstCall/ -- Edward J. Kelly, III, Chairman of the Board, President and Chief Executive Officer of Mercantile Bankshares Corporation (NASDAQ:MRBK) announced that, at a meeting held today, the Directors declared a quarterly dividend of $0.38 per share on the common stock, payable September 30, 2005, to stockholders of record as of September 23, 2005.

Mercantile Bankshares Corporation, with more than $16 billion in assets, is a regional multibank holding company with headquarters in Baltimore, Maryland. Its member banks serve communities in Maryland, Washington, D.C., Northern Virginia, the Delmarva Peninsula and southern Pennsylvania from a network of more than 235 offices and more than 250 ATMs. The Investment & Wealth Management division has assets in excess of $48 billion, with management responsibility for more than $21 billion. Additional information is available at http://www.mercantile.com/.

Source: Mercantile Bankshares Corporation

CONTACT: David E. Borowy, Investor Relations of Mercantile Bankshares
Corporation, +1-410-347-8361, or david.borowy@mercantile.net

Web site: http://www.mercantile.com/

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Profile: financial services

Trend Micro Study Provides End-User Revelations About Risky Online Behavior at Work

Trend Micro Study Provides End-User Revelations About Risky Online Behavior at Work

Behavioral tendencies magnify IT's challenge to educate, protect end users from viruses, spyware, spam, phishing, and more

TOKYO, Sept. 13 /PRNewswire-FirstCall/ -- Trend Micro, Inc. , a leader in antivirus and content security, today announced results of a study that reveal why some end users in enterprise environments around the world are more likely to engage in riskier online behavior at work than home. The findings place added emphasis on the security challenge IT organizations face in protecting business networks, securing critical information, and reducing helpdesk calls.

The study, conducted in July 2005, featured more than 1,200 corporate end users in the United States, Germany, and Japan who responded to an online survey. Of the many findings, perhaps the most significant is the correlation between the presence of an IT department and end-user confidence in the security they expect against viruses, worms, spyware, spam, phishing, and pharming. These expectations often result in riskier online behavior that exacerbates IT's challenge to protect business operations from increasingly unpredictable threats.

Of those who responded, 39 percent of enterprise end users believed that IT could prevent them from falling victim to threats like spyware and phishing. This belief prompted many of them to admit bolder online behavior. Of those who admitted to engaging in bolder online behavior, 63 percent acknowledge that they are more comfortable clicking on suspicious links or visiting suspicious Web sites because IT has installed security software on their computers. Forty percent of those who admitted to engaging in riskier online behavior said it was because IT was available to provide support if problems occurred. Because of the correlation between IT's presence, end-user security expectations, and riskier end-user behavior, the study magnifies the importance for IT to ensure up-to-date security across the business network.

"Although end users have expectations of IT to educate and protect them, they may not always help in overcoming network security challenges. In fact, they could make it more difficult," said Max Cheng, executive vice president and general manager of Trend Micro's enterprise business segment. "Eye-opening revelations like these highlight the security challenges IT departments face within their own organizations and should motivate them to ensure greater protection across their enterprise."

The study suggests that a bolder user base can impact an enterprise organization's ability to contain costs, particularly associated with its IT helpdesk. For example, in Germany, end users expressed a high degree of confidence in their IT departments, admitting that their presence made them feel more inclined to click on suspicious links, open suspicious emails, and, if needed, contact the helpdesk when problems occurred.

Forty percent of German end users were inclined to contact IT regarding security issues -- whether they were perceived or real. In fact, 38 percent of German enterprise end users had contacted their IT departments about security concerns within three months leading up to the survey. For enterprise organizations with hundreds or thousands of employees, the likelihood for 38 out of every 100 end users to engage helpdesks about security issues -- in a concentrated amount of time -- impacts IT's ability to manage its cost structures and protect investments.

"More than just network availability or information integrity is at stake," Cheng said. "Understanding end user behavioral tendencies and protecting the business can be the difference between ensuring business continuity and losing it."

Noteworthy findings include:
-- In the United States, 48 percent of workers who admit they are more
likely to open suspicious emails or Web links on their work computers
than at home said it was because they had IT to support them if
something bad happened. Germany (39%) and Japan (28%) featured similar
results.
-- In Germany (76%) and the United States (65%), business end users who
admitted to being more likely to open suspicious emails and links said
it was because IT had installed security software on their computers.
In Japan, 42 percent felt the same way.
-- 1 out of 3 (34%) U.S. business end users and at least 1 out of every 4
in Germany (29%) and Japan (28%) who admitted that they are more likely
to open suspicious emails or click on suspicious links said it was
because the computer equipment was not theirs.
-- At least 1 out of 4 end users in the United States (31%) and Japan
(27%) contacted their IT helpdesks regarding security concerns within
three months of responding to the survey. In Germany, 38 percent of
enterprise end users had contacted IT within the same timeframe because
of security concerns.

"Policy enforcement for security products and the ability to control access to the Internet from a central server are key success factors in ensuring corporate desktop security and protecting the bottom line," Cheng said. "In looking at the big picture, this must all be part of a multilayered antivirus and content security solution that spans the entire network environment, from gateways and servers to desktops and mobile devices. Such an infrastructure enables the delivery of timely updates that protect every corner of your network -- and therefore your business."

For information on Trend Micro solutions that provide this multi-layered security infrastructure and deliver timely updates to combat growing threats in enterprise environments, visit www.trendmicro.com

About Trend Micro, Inc.

Trend Micro, Inc. is a leader in network antivirus and Internet content security software and services. The Tokyo-based corporation has business units worldwide. Trend Micro products are sold through corporate and value-added resellers and managed service providers. For additional information and evaluation copies of all Trend Micro products, visit our Web site, www.trendmicro.com

Trend Micro and the t-ball logo are trademarks or registered trademarks of Trend Micro Incorporated. All other company or product names may be trademarks or registered trademarks of their owners.

Source: Trend Micro, Inc.

CONTACT: Mike Haro, Public Relations Manager, North America, of Trend
Micro, Inc., +1-408-850-1069 or mike_haro@trendmicro.com

Web site: http://www.trendmicro.com/

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Profile: financial services

Daniel R. Levinson, Inspector General, U.S. Department of Health and Human Services, to Keynote AHLA/HCCA Fraud & Compliance Forum

Daniel R. Levinson, Inspector General, U.S. Department of Health and Human Services, to Keynote AHLA/HCCA Fraud & Compliance Forum

September 25-27, 2005, Renaissance Harborplace Hotel, Baltimore, MD

70+ speakers and 42 separate sessions -- addressing a broad spectrum of legal and compliance issues including the new Medicare Part D Program, CMS Effectiveness Project, Attorney Client Privilege, Physician Recruitment, Advanced Stark, Gainsharing, Sarbanes-Oxley Act, and other critical health care legal and compliance issues.

WASHINGTON, Sept. 13 /PRNewswire/ -- Daniel R. Levinson, Inspector General, U.S. Department of Health and Human Services will keynote the 2005 Fraud & Compliance Forum being held September 25-27 at the Renaissance Harborplace Hotel, Baltimore, Maryland. Also heading the list of more than 70 expert speakers is Assistant US Attorney James G. Sheehan, Kim Brandt, Director CMS Office of Financial Management, Program Integrity Group, Elizabeth Carder-Thompson, Esq., and D. McCarty Thornton, Esq. Levinson will address a general session of the Conference on Monday, September 26 beginning at 9:45 AM.

Jointly sponsored by the American Health Lawyers Association (Health Lawyers) and the Health Care Compliance Association (HCCA), the 2005 Forum offers 42 separate sessions, covering a wide range of compliance and legal issues addressed by health care fraud and abuse laws and regulations.

"This program offers a unique educational opportunity for health lawyers and compliance officers to learn together about new regulations, laws and significant developments," said Anthea R. Daniels, Health Lawyers' President- Elect and Chair of the AHLA Program Committee. "Health lawyers and compliance officers alike will benefit greatly from the program's content and by networking with an outstanding faculty and their peers."

Fraud & Compliance Forum concurrent sessions include:
* Compliance Enforcement Trends
* Advanced Stark
* Enforcement and Compliance Initiatives for Clinical Research Activities
* Medicare Part D Fraud and Abuse Issues
* New CMS Initiatives to Curb Fraud, Waste and Abuse in the DMEPOS Arena
* Clinical Trial Billing Compliance
* Preserving the Attorney-Client Privilege in the Age of Transparency
* Effectiveness Panel
* Key Considerations for EMTALA Compliance Plans
* Panel of In-House General Counsel and Compliance Officers who Survived
a Qui Tam
* Current Issues in Off-Label Use of Drugs and Medical Devices
* Preparing for and Responding to a CMS Conditions of Participation
Survey
* The Gambro Investigation: Lessons Learned the Hard Way and the Easy Way

Complete information and a program brochure for the 2005 Fraud and Compliance Forum are available on Health Lawyers Web site, (copy and paste into your web browser): http://www.healthlawyers.org/Template.cfm?Section=Program_Calendar&CONTENTID=5 174&TEMPLATE=/ContentManagement/ContentDisplay.cfm

Press may register for this landmark conference on fraud and compliance issues, by completing and returning the press registration form (copy and paste into your web browser): http://www.hcca-/ info.org/Content/NavigationMenu/About_HCCA/Press_Releases/Press_Releases.htm ) by the close of business on September 19, 2005. Please submit it to Margaret Dragon via Fax: 781/593-4920 or by E-mail to margaret.dragon@hcca-info.org). We regret that due to hotel space constraints, attendance will be limited to two representatives per publication. Please call if you need more information.

About the American Health Lawyers Association

The American Health Lawyers Association (AHLA) is the nation's largest nonpartisan 501(c)(3) educational organization devoted to legal issues in the healthcare field. The Association's 9,500 active members practice in law firms, government, in-house settings, and academia. They represent the entire spectrum of the healthcare community: physicians, hospitals and health systems, manufacturers of pharmaceuticals, medical devices and diagnostics, health maintenance organizations, health insurers, managed care companies, nursing facilities, home care providers, and consumers. Health Lawyers provides in-person and "distance learning" educational programs; an annual conference; an award-winning Web site; public interest colloquiums, briefings, and teleconferences; and books, practice guides, monographs, the monthly publications Health Law Digest and Health Lawyers News, the quarterly Journal of Health Law, and the online news and analysis service Health Lawyers Weekly, as well as fourteen Practice Groups that focus on specific areas of health law or special employment settings. For additional information, visit AHLA's Web site at http://www.healthlawyers.org/. AHLA is located at 1025 Connecticut Avenue, NW, Suite 600, Washington, DC 20036 - Telephone 202/833-1100.

About the Health Care Compliance Association

The Health Care Compliance Association (HCCA) is the only national, non- profit organization solely dedicated to improving the quality of health care compliance. Its mission is to champion ethical practice and compliance standards and to provide the necessary resources for compliance professionals and others who share these principles. HCCA's roles include facilitating the development and maintenance of health care compliance programs; providing a forum for understanding the complicated health care compliance environment; and offering tools, resources and educational opportunities for those involved with compliance in the health care industry. To learn more about HCCA, visit their Web site at http://www.hcca-info.org/. HCCA is located at 5780 Lincoln Drive, Suite 120, Minneapolis, MN 55436 - Telephone: 888/580-8373.

Source: Health Care Compliance Association

CONTACT: Margaret Dragon of Health Care Compliance Association,
+1-781-593-4924

Web site: http://www.hcca-info.org/

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Profile: financial services

Mayflower Bank Announces West Wareham Expansion Plans

Mayflower Bank Announces West Wareham Expansion Plans

MIDDLEBORO, Mass., Sept. 13 /PRNewswire-FirstCall/ -- Mayflower Bank (NASDAQ:MFLR) has announced today that it has entered into an agreement to acquire a site in West Wareham, Massachusetts on which the Bank plans to construct a retail branch facility.

This Agreement, which is for a property located at the intersection of Cranberry Highway and Tow Road in West Wareham, Massachusetts calls for the Bank to take title to the site later in 2005 and is contingent upon the performance of satisfactory due diligence, receipt of appropriate municipal permits and regulatory approval. It is anticipated that capital costs associated with the acquisition of this site, construction of the branch facility, and the purchase of necessary equipment will approximate $2 million in total.

Bank President and CEO Edward M. Pratt commented that, "The Bank is extremely pleased to announce the execution of the Purchase and Sale Agreement for a proposed branch site in West Wareham and we are enthusiastic about the opportunity to expand our branch network into this area. Although Mayflower has long maintained a market presence in Wareham and has a very successful branch in the Onset section of the town, this location represents an area in which the Bank has not heavily penetrated and which is experiencing substantial growth of both a commercial and residential nature. Subject to matters of due diligence and receipt of municipal and regulatory approvals, we would hope to commence construction on this new branch in 2006 and anticipate opening it for business in the same year."

The Bank has indicated that current plans for this new branch contemplate a building of approximately 3,000 s.f. and incorporate multiple drive-up facilities and ATM capabilities. The Bank would also intend to provide full- time lending staff in the proposed branch.

Mayflower Bank is a Massachusetts-chartered cooperative bank specializing in residential and commercial lending and traditional banking and deposit services. The Bank currently serves Southeastern Massachusetts from its main office in Middleboro, Massachusetts and five other full service branches located in Plymouth County. The Bank maintains additional offices in Bridgewater, Wareham, Rochester and Plymouth, Massachusetts, and opened its newest branch office in Lakeville in the Summer of 2005.

Total assets of Mayflower Co-operative Bank as of July 31, 2005 were $240.6 million and stockholders equity was $18.7 million. All of the Bank's deposits are insured by the Federal Deposit Insurance Corporation (FDIC) and by the Share Insurance Fund (SIF) of Massachusetts.

This press release may contain certain forward-looking statements, which are based on management's current expectations regarding economic, legislative and regulatory issues that may impact the Bank's earnings in future periods. Factors that could cause future results to vary materially from current management expectations include, but are not limited to, general economic conditions, changes in interest rates, deposit flows, real estate values and competition; changes in accounting principles, policies or guidelines; changes in legislation or regulation; and other economic, competitive, governmental, regulatory and technological factors affecting the Bank's operations, pricing, products and services.

Source: Mayflower Bank

CONTACT: Edward M. Pratt of Mayflower Cooperative Bank, +1-508-947-4343

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Profile: financial services

Cohen & Steers Web Site Named Best Mutual Fund Web Site in 2005 WebAward Competition

Cohen & Steers Web Site Named Best Mutual Fund Web Site in 2005 WebAward Competition

NEW YORK, Sept. 13 /PRNewswire-FirstCall/ -- Cohen & Steers, Inc. (NYSE:CNS) today announced that its Web site, www.cohenandsteers.com, was awarded the "Best Mutual Fund Web site WebAward" in the Web Marketing Association's 2005 competition. The entries were judged on design, innovation, content, technology, interactivity, navigation and ease of use. Judges included members of the media, advertising executives, site designers, content providers and webmasters.

"We pride ourselves on delivering timely information and providing investors with the highest level of service. The WebAward further demonstrates this commitment," stated John McCombe, executive vice president, director of sales and marketing.

The WebAward competition, now in its ninth year, is hosted by the Web Marketing Association, Inc. (WMA), an independent volunteer organization founded with the purpose of evaluating, recognizing and increasing the standard of excellence on the World Wide Web. The annual WebAwards competition judges Web sites against Internet standards and peer sites within specific industries.

"The Cohen & Steers property is a great example of accessibility. The highest marks for navigability and content drill in. Well done," commented one judge.

Cohen & Steers Capital Management, Inc. is a manager of high-income equity portfolios, specializing in U.S. REITs, global real estate securities, preferred securities, utilities, value equity securities and other high- dividend paying common stocks. Headquartered in New York City, the firm serves individual and institutional investors through a wide range of open- and closed-end funds, and separate accounts.

Source: Cohen & Steers, Inc.

CONTACT: Stephen Tone, web manager, +1-212-832-3232

Web site: http://www.cohenandsteers.com/

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Profile: financial services

Piper Jaffray to Match Employee Donations to $100,000 for Hurricane Katrina Relief

Piper Jaffray to Match Employee Donations to $100,000 for Hurricane Katrina Relief

MINNEAPOLIS, Sept. 13 /PRNewswire-FirstCall/ -- Piper Jaffray Companies is matching employee donations up to an aggregate amount of $100,000 to provide relief for the Hurricane Katrina disaster. Through September 30, 2005, Piper Jaffray will match dollar for dollar all employee contributions between $25 and $1,000 to the American Red Cross Disaster Relief Fund.

"This is an unprecedented natural disaster for our country, and whether we know someone in the area or not, we are grateful to be able to do our part in helping those whose lives are forever changed," said Andrew Duff, chairman and chief executive officer of Piper Jaffray Companies. "Our employees are incredibly generous and we are pleased to be able to support their generosity."

Since the firm's founding in 1895, Piper Jaffray has been committed to building strong communities through both financial and volunteer support. The firm donates five-percent of pre-tax earnings each year to charitable organizations through a combination of cash contributions, in-kind contributions and volunteer hours.

Piper Jaffray Companies (NYSE:PJC) is a focused securities firm dedicated to delivering superior financial advice, investment products and transaction execution within selected sectors of the financial services marketplace. The company operates through two primary revenue-generating segments: Capital Markets and Private Client Services. Through its chief operating subsidiary, Piper Jaffray & Co., the firm has served corporations, government and non- profit entities, institutional investors and the financial advisory needs of private individuals since 1895. Headquartered in Minneapolis, Piper Jaffray has approximately 3,000 employees in 104 offices in 23 states across the country and in London. For more information about Piper Jaffray, visit us online at http://www.piperjaffray.com/ .

Source: Piper Jaffray Companies

CONTACT: Rob Litt, Media Relations, of Piper Jaffray Companies,
+1-612-303-8266

Web site: http://www.piperjaffray.com/

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Profile: financial services