Investors Capital Holdings Announces Retirement of Founder

Investors Capital Holdings, Ltd.

today announced that, following a sale of his shares in a public offering, Chairman of the Board and founder, Theodore E. Charles has retired from the Company. Investors Capital will continue to be led by President and CEO Timothy B. Murphy, who was recruited by Mr. Charles in 1994 to help grow the firm. The current management team and home office staff will also remain in place. "It was very important to me that Investors Capital continue on as I envisioned when I founded it in 1992," said Mr. Charles. "I wanted it to remain a publicly traded firm where advisors are truly independent and in charge of their own destinies, unencumbered and uncontrolled by a dominating entity such as an insurance company, private equity firm, or majority shareholder."