ThinkEquity Partners LLC Announces Initiation of New Banking Industry Coverage

ThinkEquity Partners LLC Announces Initiation of New Banking
Industry Coverage 


SAN FRANCISCO, July 1  /PRNewswire/ -- ThinkEquity Partners LLC, a
research-centric investment firm, recently announced the initiation of coverage
on eight Puerto Rican-based financial institutions. ThinkEquity Partners
specialty finance analyst Audrey Snell initiated coverage on the following
banking institutions:

                                                  Price at
  Company                 Symbol   Rating        Initiation  Price Target

  Doral Financial Corp.    DRL     Accumulate      $14.88         $20
  Eurobancshares Inc.      EUBK    Buy             $16.60         $21
  First BanCorp.           FBP     Buy             $38.64         $46
  Oriental Financial
  Group Inc.               OFG     Accumulate      $14.38         $17
  Popular, Inc.            BPOP    Accumulate      $25.15         $27
  R&G Financial
  Corporation              RGF     Accumulate      $17.49         $22
  Santander BanCorp        SBP     Buy             $24.75         $28
  W Holding Company, Inc.  WHI     Buy              $9.87         $14



ThinkEquity believes the regional community banks of Puerto Rico represent a
compelling investment opportunity as the Commonwealth modernizes and builds out
its infrastructure. The middle class is growing, as disposable income levels
climb, driven by modernization and industrialization and the influx of
businesses and job creation. Accordingly, Ms. Snell believes these are superior
quality institutions which are trading at valuations not reflecting their
growth rates or future prospects.  Please see her recent report The Banks of
Puerto Rico -- Superior Growth Driven by Secular Trends, dated June 26th 2005,
for additional details.

About ThinkEquity Partners LLC

ThinkEquity Partners LLC is a research-centric institutional investment firm
focused on the growth economy. ThinkEquity Partners is dedicated to providing
focused insight, advisory services, and capital to institutional investors and
corporate constituents in the knowledge economy's key growth verticals,
including technology, healthcare, media and consumer business services. For
more information about ThinkEquity Partners, please visit
http://www.thinkequity.com/ . Member NASD and SIPC. 

DATASOURCE: ThinkEquity Partners LLC



CONTACT: Lewis Goldberg, [phone], , Anne

Donohoe, [phone], , or Scott Rosenblum,

[phone], , all for KCSA Worldwide



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

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