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MINNEAPOLIS, Apr 12, 2004 /PRNewswire-FirstCall via COMTEX/ -- Piper Jaffray & Co. is pleased to announce that Tom Seitz has joined the Piper Jaffray Private Client Services Division as Director of Business Development. Seitz's direct responsibility will be to continue development of a "best in class" professional training program for both developing and experienced financial advisors and to assist in the Piper Jaffray financial advisor recruiting efforts. He will report to John Breon, director of branches in the Private Client Services Division and will serve on the division's operating committee.

"We are thrilled to have Tom Seitz leading our business development efforts," said Paul Grangaard, head of Private Client Services at Piper Jaffray. "Tom brings with him over 20 years of financial industry and management experience and will be a tremendous asset to our leadership team."

Seitz most recently was the president and chief executive officer (CEO) of the Annuity Distribution Co. of MFS/Sun Life Distributors in Boston, Mass. Under Seitz's leadership, MFS and Sun Life grew from $9 billion to $19 billion in annuity assets with sales of approximately $3 billion per year.

Prior to working at MFS/Sun Life, Seitz was a managing director at RBC Dain Rauscher, where he had responsibility for the managed asset group. In addition, Seitz has experience at Rochdale Asset Management and American Skandia.

"I look forward to the opportunity to lead Piper Jaffray in its efforts to continue developing and training superior financial advisors and grow market share in its geographic footprint," said Seitz.

Seitz earned his bachelor of science degree from Regis University in Denver, Colo.

Headquartered in Minneapolis, Piper Jaffray & Co., a subsidiary of Piper Jaffray Companies (NYSE: PJC), is a focused securities firm dedicated to delivering superior financial advice, investment products and transaction execution within selected sectors of the financial services marketplace. The company operates through two primary revenue-generating segments -- Capital Markets and Private Client Services. Investment Research, an independent group reporting to the CEO, supports clients of both segments. The firm serves corporations, government and non-profit entities, and institutional investors on a national basis and serves the financial advisory needs of private individuals predominantly across the western half of the United States. The firm has over 2900 employees in 111 offices in 23 states across the country and in London, England. For more information about Piper Jaffray, visit us online at .

    Since 1895. Member SIPC and NYSE.

SOURCE Piper Jaffray & Co.

Susan Beatty, Public Affairs and Media Relations of Piper
Jaffray, +1-612-303-5680