FBR to Report Third Quarter 2006 Results
Investors Able to Access Conference Call on Web Thursday, November 2, 2006
PRNewswire - First Call via COMTEX
Arlington, Virginia

 ARLINGTON, Va., Oct 20, 2006 /PRNewswire-FirstCall via COMTEX News Network/ -- Friedman, Billings, Ramsey Group, Inc. (NYSE: FBR) today announced that the company will release results for the third quarter of 2006 before the market opens on Thursday, November 2, 2006.

Investors wishing to listen to the earnings conference call at 9:00 A.M. U.S. EST, Thursday, November 2, 2006, may do so via the web at: http://phx.corporate-ir.net/phoenix.zhtml?c=71352&p=irol-irhome

Replays of the webcast will be available after the call.

Friedman, Billings, Ramsey Group, Inc. provides investment banking*, institutional brokerage*, asset management, and private wealth services through its operating subsidiaries and invests in mortgage-related assets and merchant banking opportunities. FBR focuses capital and financial expertise on eight industry sectors: consumer, diversified industrials, energy and natural resources, financial institutions, healthcare, insurance, real estate, and technology, media and telecommunications. FBR is headquartered in the Washington, D.C. metropolitan area with offices in Arlington, Va., Boston, Dallas, Houston, Irvine, London, New York, Phoenix and San Francisco. Friedman, Billings, Ramsey Group, Inc. is the parent company of First NLC Financial Services, Inc., a non-conforming residential mortgage originator headquartered in Deerfield Beach, Florida. For more information, see http://www.fbr.com.

*Friedman, Billings, Ramsey & Co., Inc.

Statements concerning future performance, developments, events, market forecasts, revenues, expenses, earnings, run rates and any other guidance on present or future periods, constitute forward-looking statements that are subject to a number of factors, risks and uncertainties that might cause actual results to differ materially from stated expectations or current circumstances. These factors include, but are not limited to, the effect of demand for public offerings, activity in the secondary securities markets, interest rates, costs of borrowing, interest spreads, mortgage pre-payment speeds, risks associated with merchant banking investments, the realization of gains and losses on principal investments, available technologies, competition for business and personnel, and general economic, political and market conditions. These and other risks are described in the company's Annual Report and Form 10-K and quarterly reports on Form 10-Q that are available from the company and from the SEC.

SOURCE Friedman, Billings, Ramsey Group, Inc.

For further information: Investor: Paul Beattie, +1-703-312-9673, pbeattie@fbr.com or Media: Lauren Burk, +1-703-469-1004 lburk@fbr.com, both of Friedman, Billings, Ramsey Group, Inc. http://www.fbr.com/