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MINNEAPOLIS, Oct 02, 2007 /PRNewswire-FirstCall via COMTEX News Network/ -- Piper Jaffray Companies (NYSE: PJC) announced that it has completed its acquisition of Goldbond Capital Holdings Limited (Goldbond), a Hong Kong-based investment bank. With this acquisition, Piper Jaffray gains capital markets capabilities in Hong Kong that further its mission of building the leading, international middle-market investment bank and institutional securities firm.

"We are very pleased to complete the acquisition of Goldbond, which has the capital markets capabilities that we require to expand our successful business in Asia," said Andrew Duff, chairman and CEO of Piper Jaffray. "With this combination, we can provide global access to capital for both Piper Jaffray and Goldbond clients."

About Piper Jaffray

Piper Jaffray Companies is a leading, international middle-market investment bank and institutional securities firm, serving the needs of middle-market corporations, private equity groups, public entities, nonprofit clients and institutional investors. Founded in 1895, Piper Jaffray provides a comprehensive set of products and services, including equity and debt capital markets products; public finance services; mergers and acquisitions advisory services; high-yield and structured products; institutional equity and fixed-income sales and trading; and equity and high-yield research. With headquarters in Minneapolis, Piper Jaffray has 25 offices across the United States and international locations in London and Shanghai. Piper Jaffray & Co. is the firm's principal operating subsidiary. (NYSE: PJC) (

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements. Statements that are not historical or current facts, including statements about beliefs and expectations, are forward-looking statements. These forward-looking statements cover, among other things, the future prospects of Piper Jaffray Companies and its international operations. Forward-looking statements involve inherent risks and uncertainties, and important factors could cause actual results to differ materially from those anticipated, including the following: (1) costs or difficulties relating to the integration of the Goldbond and Piper Jaffray businesses may be greater than expected and may adversely affect our results of operations and financial condition; (2) the expected benefits of the transaction, including revenue growth, increased profitability and shareholder returns, may take longer than anticipated to achieve and may not be achieved in their entirety or at all; (3) the transaction expands our international operations, which are subject to unique risks such as the risk of non-compliance with foreign laws and regulations and economic and political conditions in the countries where we operate; (4) strategies with respect to the redeployment of proceeds from the sale of our Private Client Services business may take longer than anticipated to be realized or may not be achieved in their entirety or at all; (5) developments in market and economic conditions have in the past adversely affected, and may in the future adversely affect, the business and profitability of Piper Jaffray; (6) Piper Jaffray may not be able to compete successfully with other companies in the financial services industry; and (7) other factors identified under "Risk Factors" in Part I, Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2006, and updated in our subsequent reports filed with the SEC. These reports are available at our Web site at and at the SEC Web site at Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update them in light of new information or future events.

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