EXHIBIT 28.1

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NEWS RELEASE                                              DMC
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Contacts: James K. Mitchell                  Stephen D. Martino
          Chairman and CEO              Chief Financial Officer
          (617) 747-0154                         (617) 747-0154



  Detwiler, Mitchell & Co. Reports Resignation of its President

     BOSTON, MA (October 17, 2001) - Detwiler, Mitchell & Co.
(NASDAQ: DMCO; PCX: DEM) today reported the resignation of Andrew
Detwiler as President and Director effective October 12, 2001.
Mr. Detwiler has also resigned as CEO and Director of Fechtor,
Detwiler & Co., Inc., the principal operating subsidiary of the
Company. Robert Detwiler, the largest stockholder of the Company,
remains as President of Fechtor Detwiler and Director of the
Parent Company.

     James K. Mitchell, Chairman and CEO said, "As Andy leaves to pursue
other interests, the Company will continue to carry out the business
strategy of our Firm for the benefit of our clients, shareholders and
employees."  He continued, "I am pleased to report that James Graves, formerly
Chief Operating Officer of J.C. Bradford & Co., is serving as
special advisor to the Company."

                            * * * * *

     Detwiler, Mitchell & Co. ("DMC") is the holding company for
its four principal operating subsidiaries: Fechtor, Detwiler &
Co., Inc., an investment banking, merchant banking and brokerage
company headquartered in Boston, MA; K & S, Inc., a specialist
firm with operations on the Boston Stock Exchange; James Mitchell
& Co., a financial services company located in San Diego, CA and
Detwiler, Mitchell & Co. (UK) Limited, an investment banking and
institutional sales firm located in London, UK.


     Cautionary Statement Regarding Forward-Looking Statements:
Certain statements in this news release may contain forward-
looking statements within the meaning of the Federal securities
laws.  Such statements should be considered in light of the risks
and uncertainties associated with Detwiler, Mitchell & Co. and
its operating subsidiaries, including those economic and market
risks contained in the Company's Annual Report on Form 10-K, and
other risks prevailing from time to time; all of which are
subject to material changes and may cause actual results to vary
materially from what had been anticipated.


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		     DETWILER, MITCHELL & CO.
		 225 FRANKLIN STREET, 20TH FLOOR
		        BOSTON, MA 02110