[PRESS RELEASE ON COMPANY LETTERHEAD]                               EXHIBIT a(5)

For Release November 14, 2001

Progressive Asset Management, Inc. (PAM), a leading provider of socially
responsible investing resources, announced today that it has launched a tender
offer to repurchase 250,000 shares of its common stock at $0.60 per share. PAM
trades on the Over-the-Counter Bulletin Board under the symbol "PAMI."

The announcement was made by Eric Leenson, president and chief executive
officer. Mr. Leenson explained that PAM's board of directors had authorized the
repurchase for several reasons. "This tender offer will reduce the number of
outstanding shares and thereby increase the value of existing shares. The offer
provides immediate liquidity for PAM shareholders, who usually trade only
through the limited facilities of the NASDAQ OTC Bulletin Board. Furthermore, it
will reduce the number of shareholders who hold less than 100 shares of PAM's
common stock and therefore decrease PAM's overhead."

The tender offer is being conducted through the United States Stock Transfer
Corporation, Glendale, California, which is distributing information to
shareholders and brokers holding shares of PAM on how shareholders can tender
their shares. The tender offer will expire on January 18, 2002. All shareholders
who hold less than 100 shares of PAM's common stock (an "odd lot") will have
their shares repurchased. If more than 250,000 shares are tendered, then PAM
will prorate the number of shares it repurchases so that proportionally all
shareholders will have an equal percentage of their shares repurchased (except
for those whose shares were repurchased because they own only "odd lots").

PAM is based in Concord, California and is a NASD, SIPC and MSRB Member.
Established in 1987, the company was the first independent full service
investment firm specializing in socially responsible investing and continues to
be a leader in the socially responsible investment industry. Members of the PAM
Network are registered representatives with Financial West Group (FWG), a
broker-dealer located in Westlake Village, California. FWG is a NASD, SIPC and
MSRB Member and a registered investment advisor with the SEC. For more
information, please contact the Tender Offer Coordinator, Alison Wise at
800-786-2998.



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