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NEW YORK - October 1, 2003- U.S. Bancorp Piper Jaffray (Piper Jaffray) is pleased to announce that Peter H. Oakes has joined the firm as a senior research analyst covering the restaurant sector. He will be based in the firm's New York office.

Oakes was most recently with Merrill Lynch and Co. in New York, where he was a first vice president and senior equity analyst focused on the restaurant sector. During his 15-year tenure at Merrill Lynch, Oakes was recognized as an All-Star Analyst for the past 11 years by Institutional Investor and was inducted into the Wall Street Journal Analyst Hall of Fame in 1999.

Joining Oakes from Merrill Lynch is his teammate of six years, Scott Waltmann. Waltmann will be an analyst on Piper Jaffray's restaurant research team, which also includes Lana Lazarus.

"With over 18 years of exceptional experience on Wall Street and numerous accolades and top industry rankings for his work covering the restaurant sector, we are thrilled to have Peter join our consumer research platform," said Robert Peterson, head of Investment Research at U.S. Bancorp Piper Jaffray.

"I am truly excited about joining Piper Jaffray's already well-recognized restaurant sector research franchise," said Oakes.

Oakes holds a master's degree in business administration from the Ohio State University in Columbus and a bachelor's degree in accounting from Miami University in Oxford, Ohio. He lives in Summit, N.J., with his wife Ann.

U.S. Bancorp Piper Jaffray, a subsidiary of the consolidated group of U.S. Bancorp, is a focused securities firm comprised of two revenue-generating segments -- Capital Markets and Private Client Services. Clients of both segments are supported by Investment Research, an independent group reporting to the CEO. The firm provides a full range of investment products and services to individuals, institutions and businesses. The firm has over 124 offices in 25 states across the country. U.S. Bancorp offers a comprehensive range of financial solutions through U.S. Bank, U.S. Bancorp Asset Management, U.S. Bancorp Investments and U.S. Bancorp Piper Jaffray. For more information on U.S. Bancorp Piper Jaffray, visit

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