EXHIBIT 99.1


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NEWS RELEASE                                              DMC
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CONTACTS: JAMES K. MITCHELL                     GEORGE SIMPKINS
          CHAIRMAN AND CEO                     PRESIDENT DMC UK
          (858) 450-0055                    011 44 207 375 9000

DETWILER, MITCHELL & CO. BEGINS LONDON INVESTMENT BANKING OPERATIONS

     BOSTON, MA; LONDON, UK; (July 31, 2001) - Detwiler, Mitchell
& Co. (NASDAQ: DMCO; PCX: DEM) today announced Detwiler, Mitchell
& Co. (UK) Limited, its newly-formed London, England subsidiary,
is operational and will immediately begin its investment banking
and institutional sales activities.  Detwiler, Mitchell & Co.
(UK) Limited focuses upon technology and alternative energy firms
including fuel cell companies.  The Company's distribution
network will include the United Kingdom and Europe.

     "While the process of obtaining regulatory approval was more
time consuming than initially anticipated, we are enthusiastic
about the revenue and distribution opportunities of our new UK
firm," said James Mitchell, Chairman and CEO of DMC.  "George
Simpkins, the firm's President and Managing Director, brings
significant distribution capabilities.  His expertise is well
regarded in the technology and fuel cell industries.  His team
will significantly broaden and complement the products, services
and distribution capabilities of Detwiler, Mitchell & Co."

     "We are pleased to complete the regulatory approval
process," said George Simpkins, President and Managing Director
of DMC UK.  "It is a pleasure to say that our offices at 117
Houndsditch in London are open.   Our clients have been anxiously
awaiting our licensing and we can now work with our colleagues
and their clients at Detwiler Mitchell.  We believe our
international distribution combined with the channel research
products of Detwiler Mitchell can significantly impact the
revenues and profit potential of 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.

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                           [DMC LOGO]
                    Detwiler, Mitchell & Co.
                 225 Franklin Street, 20th Floor
                   Boston, Massachusetts 02110
                         (617) 451-0100

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     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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                           [DMC LOGO]
                    Detwiler, Mitchell & Co.
                 225 Franklin Street, 20th Floor
                   Boston, Massachusetts 02110
                         (617) 451-0100