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MINNEAPOLIS, July 19 /PRNewswire-FirstCall/ -- Piper Jaffray & Co. is pleased to announce the funding of 41 nonprofit organizations across the firm's geographic regions for a total of $440,500 in its first round of grants in 2004. The grants support organizations that work toward development of affordable housing and revitalization of economically distressed neighborhoods across multiple geographic areas.

"We are proud to announce this first round of grants after Piper Jaffray's re-emergence as an independent public company," said Andrew Duff, chairman and chief executive officer of Piper Jaffray. "Piper Jaffray has been integrally involved in the communities in which we live and work for the past 109 years. We are thrilled to partner with these great organizations to help build stronger communities."

Piper Jaffray has made a commitment to contribute to charity five percent of its pre-tax earnings each year with the combination of cash contributions, in-kind contributions and volunteer hours, once again making the firm a member of the Minnesota Keystone Program. The Minnesota Keystone Program is a voluntary program promoting corporate support for communities that was co-founded by Piper Jaffray 27 years ago. For additional information and a complete list of the grants, visit .

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. Through its chief operating subsidiary, Piper Jaffray & Co., the firm has served corporations, government and non-profit entities, institutional investors and the financial advisory needs of private individuals for more than 108 years. Headquartered in Minneapolis, Piper Jaffray has approximately 3,000 employees in 111 offices in 23 states across the country and in London. For more information about Piper Jaffray, visit us online at .

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SOURCE Piper Jaffray Companies

CONTACT: Susan Beatty, Public Affairs and Media Relations of Piper Jaffray
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