EXHIBIT 99.1


[NASDAQ LOGO]


Douglas D. McKenney, CFA
Associate Director
Listing Qualifications
The Nasdaq Stock Market, Inc.

By Facsimile and Overnight Mail
- -------------------------------

July 9, 2002

Mr. Stephen D. Martino
Chief Financial Officer
and Principal Accounting Officer
Detwiler, Mitchell & Co.
225 Franklin Street
Boston, MA 02110

Re: Detwiler, Mitchell & Co. (the "Company"')

Dear Mr. Martino:

For the last 30 consecutive trading days, the price of the Company's common
stock has closed below the minimum $1.00 per share requirement for continued
inclusion under Marketplace Rule 4310(c)(4) (the "Rule"). Therefore, in
accordance with Marketplace Rule 4310(c)(8)(D), the Company will be provided
180 calendar days, or until January 6, 2003, to regain compliance. 1 If at
anytime before January 6, 2003, the bid price of the Company's common stock
closes at $1.00 per share or more for a minimum of 10 consecutive trading
days, Staff will provide written notification that the Company complies
with the Rule. 2  If compliance with this Rule cannot be demonstrated by
January 6, 2003, Staff will determine whether the Company meets the initial
listing criteria for the  The Nasdaq SmallCap Market under Marketplace Rule
431O( c )(2)(A). 3  If it meets the initial listing criteria, Staff will
notify the Company that it has been granted an additional 180 calendar day
grace period to demonstrate compliance. Otherwise, Staff will provide written
notification that its securities will be delisted. At that time, the Company
may appeal Staff's determination to delist its securities to a Listing
Qualifications Panel.

______________________________

1 The 180 day period relates exclusively to the bid price deficiency. The
Company may be delisted during the 180 day period for failure to maintain
compliance with any other listing requirement for which it is currently
on notice or which occurs during this period.

2 Under certain circumstances, to ensure that the Company can sustain
long-term compliance, Staff may require that the closing bid price equals
$1.00 per share or greater for more than 10 consecutive trading days before
determining that the Company complies.

3 Marketplace Rule 4310(c)(2)(A) states that "[f]or initial inclusion, the
issuer shall have (i) stockholders' equity of $5 million; (ii) market
capitalization of $50 million. . . ; or (iii) net income of $750,00O
(excluding extraordinary or non-recurring items) in the most recently
completed fiscal year or in two of the last three most recently completed
fiscal years."


     The Nasdaq Stock Market, Inc. 9600 Blackwell Road, Rockville, MD 20850



Mr. Stephen D. Martino
July 9,2002
Page 2


If you have any questions, please contact Moira Keith, Senior Analyst,
at (301) 978-8052.

Sincerely,


/s/  Douglas D. McKenney