EXHIBIT 99.1
NEWS
FOR IMMEDIATE RELEASE
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Contact: |
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Paul Caminiti/Carrie Bloom
Citigate Sard Verbinnen
212/687-8080 |
LADENBURG THALMANN TERMINATES NON-BINDING LETTER OF INTENT
WITH FULCRUM GLOBAL PARTNERS LLC
NEW YORK, NY, November 18, 2005 Ladenburg Thalmann Financial Services Inc. (AMEX:LTS), a
provider of retail and institutional securities brokerage, investment banking and asset management
services, announced today that it is no longer pursuing the previously disclosed proposed
transaction with Fulcrum Global Partners LLC. Accordingly, Ladenburg has terminated the
non-binding letter of intent between the parties.
About Ladenburg Thalmann
Ladenburg Thalmann Financial Services is engaged in retail and institutional securities
brokerage, investment banking and asset management services through its principal operating
subsidiary, Ladenburg Thalmann & Co. Inc. Founded in 1876 and a New York Stock Exchange member
since 1879, Ladenburg Thalmann & Co. is a full service investment banking and brokerage firm based
in New York City, with regional offices in Boca Raton, Florida; Los Angeles, California; Palo Alto,
California; Lincolnshire, Illinois; and Melville, New York. Ladenburg provides various services
including corporate finance, asset management, brokerage, trading and research, principally for
middle market and emerging growth companies and high net worth individuals.
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This press release includes certain forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These statements are based on managements current
expectations or beliefs and are subject to uncertainty and changes in circumstances. Actual results
may vary materially from those expressed or implied by the statements herein due to changes in
economic, business, competitive and/or regulatory factors, and other risks and uncertainties
affecting the operation of the business of the Company. These risks, uncertainties and
contingencies include those set forth in the Companys Annual Report on Form 10-K for the fiscal
year ended December 31, 2004, its Quarterly Reports on Form 10-Q for the quarters ended March 31,
2005 and June 30, 2005 and other factors detailed from time to time in its other filings with the
Securities and Exchange Commission. The information set forth herein should be read in light of
such risks. The Company is under no obligation to, and expressly disclaims any obligation to,
update or alter its forward-looking statements, whether as a result of new information, future
events, changes in assumptions or otherwise.