Cooperative Reorganization At Patten and Patten, Inc.

Monday, March 31, 2014

The Board of Directors of Patten and Patten, Inc. formally announces a cooperative reorganization that will allow Z. Cartter Patten, III, CFA and Ashlee B. Patten, CFA to leave their employment at Patten and Patten, Inc. and immediately spin-off a separate investment advisory firm, “The Patten Group, Inc.”. This new firm will soon be operating from an office in the Volunteer Building.

Patten and Patten, Inc. will continue to operate from its office at 520 Lookout Street with four portfolio managers, one research analyst, and its dedicated support staff.

Patten and Patten will continue to provide the same investment management services that it has for the past 38 years. Cartter, Ashlee and the team at The Patten Group, Inc. will continue to provide investment management services that focus on customized client solutions.

In exchange for his entire equity interest in Patten and Patten, Cartter will acquire exclusive ownership of The Patten Group, Inc. Bryan Patten will become the largest shareholder of Patten and Patten. Following a Transition Period that is not expected to last more than 60 days, the SEC-registered firm will operate as an independent entity.

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