FOR IMMEDIATE RELEASE
January 25, 2007

CONTACT:
Karen Shakoske
VP - Director, Marketing Communications
215-665-4458
kshakoske@jmsonline.com

JANNEY MONTGOMERY SCOTT LLC EXTENDS GROWTH IN OHIO. OFFICES OPEN IN MANSFIELD AND CHILLICOTHE COMMUNITIES

Philadelphia, Pennsylvania – January 25, 2007_____Janney Montgomery Scott LLC is pleased to announce the opening of offices in the communities of Chillicothe and Mansfield, Ohio. “These new Janney offices expand our presence in Ohio, where we have enjoyed decades of success in communities such as Marietta, Painesville and Salem,” said Raymond A. DiGaetano, Regional Manager, Private Client Group. “The additional locations build upon our tradition of serving clients through experienced Financial Consultants in convenient locations.”

Jerry Lombard, President of Janney’s Private Client Group, stated that “we are pleased to bring our proven client focused philosophy and significant investor resources to the attractive communities of Mansfield and Chillicothe. This is an important addition to our nearly 100 offices already established in the eastern and mid-west regions of the U.S.”

The Mansfield Office will be managed by Rich Steury, a former manager at McDonald & Co. Mr. Steury and Jim Nordstrom, a Financial Consultant with a long and distinguished career in the financial services industry, have a well-established partnership which enables them to efficiently serve clients. They will be joined in the Mansfield office by Financial Consultants Bob Mayer and Rod Campbell, as well as Administrative Assistants Paula Pittman and Jessica Porter.

The Chillicothe Office will be managed by John Schwemlein, who teams with Ben Schewmlein and Clare Schewmlein. Mr. Schwemlein had a successful and lengthy career with McDonald & Co. The Schwemleins’ overall industry experience allows them to very successfully serve their clients. They will be joined by Financial Consultant John Herrnstein and Registered Sales Assistant Ann Holmes.

About Janney Montgomery Scott LLC:
Janney Montgomery Scott LLC is a major regional full-service securities broker/dealer headquartered in Philadelphia, serving a national client base through nearly 1000 Financial Consultants located in approximately 100 branch offices along the United States East Coast. Janney traces its roots to 1832 and holds the second oldest membership on the New York Stock Exchange. The company enjoys a strong capital base of over $300 million and continues to successfully execute growth plans for its private client and institutional activities. Janney is a subsidiary of The Penn Mutual Life Insurance Company, one of the 15 largest mutual insurance companies in the nation, with assets of more than $14 billion. www.jmsonline.com