SOURCE: Shemano Group

June 20, 2005 16:56 ET

The Shemano Group Announces Publication of Raining Data's Expanding Opportunity

NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by The Shemano Group.

SAN FRANCISCO, CA -- (MARKET WIRE) -- June 20, 2005 --The Shemano Group issues a Corporate Finance Report detailing Raining Data’s (NASDAQ: RDTA) expanding opportunity in the emerging XML database market.

Target price of $6 based upon revenue estimates of $24.1M, $35.9M, and $52.3M in FY '06, '07, and '08 that are estimated to produce .06, .13, and .30 in EPS, respectively.

Report can be viewed by Portfolio Managers with the Bloomberg service under RDTA CN GO, or through www.shemano.com under Research (in Corporate Finance Reports). Copies can also be sent to those who contact:

Christian Galatti
Director of Research
Cgalatti@shemano.com
415 274 3220
About The Shemano Group

The Shemano Group is a San Francisco-based Institutional Broker/Dealer providing Investment Banking, Corporate Services and Investment Advisory work. Founded in 1994, the firm is headed by Gary Shemano, a former general partner and managing director of Bear Stearns & Co. Other members of the firm bring considerable experience in capital formation, fairness opinions, money management, securities trading and financial consulting. To learn more about The Shemano Group please visit its website at http://www.shemano.com or call (415) 274-3200.

The Shemano Group, Inc. may have acted as initial purchaser or placement agent for a private placement of any of the securities of any company mentioned in this document. From time to time The Shemano Group, Inc. may solicit from or perform financial advisory, investment banking or other services for such company, or have lending or other credit relationships with any company mentioned herein. The Shemano Group, Inc., and any of its affiliates, any officer, director or shareholder, or any member of their families, may, from time to time, have a long or short position in and may from time to time purchase or sell any of the securities, or their related options, mentioned in this report. This report and the information and statistical data contained herein have been obtained from sources which The Shemano Group, Inc. believes to be reliable but in no way are warranted by The Shemano Group, Inc. as to accuracy or completeness, and should not be relied upon as such. The Shemano Group, Inc. does not undertake to advise as to any changes in the data or opinions. All opinions expressed and data provided may be subject to change without notice. This report has been prepared for informational purposes only, and does not constitute a solicitation of any order to buy or sell the securities mentioned herein or related options. The securities mentioned herein may not be eligible for sale in some states or countries, nor may be suitable for all types of investors.

The Shemano Group is a member of the National Association of Securities Dealers, CRD number 35528.

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