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MINNEAPOLIS, Oct. 5 /PRNewswire-FirstCall/ -- Piper Jaffray is pleased to announce that it has awarded grants to 48 nonprofit orgqnizations across the firm's geographic regions for a total of $393,035 in its second round of grants in 2004. This second of three rounds of grantmaking supports arts and cultural organizations whose programs advance access to the arts, address cultural enrichment and issues related to diversity and impart their value to youth.

"We are thrilled to partner with these great arts and culture organizations," said Andrew Duff, chairman and chief executive officer of Piper Jaffray Companies. "They are doing an exemplary job of helping advance community access to and education about the arts as well as enriching local culture. We now look forward to our final round of grantmaking this year, which will focus on organizations that are giving children a leg up in life by tearing down barriers to education."

Piper Jaffray awarded grants to arts and cultural organizations that are accessible and partner with schools on a regular basis. Other characteristics included whether the organizations offered discount programs and have affordable programming targeted to non-traditional audiences. The organizations selected are collaborative and have programs that feature artists of diverse heritage and use their art to educate about racial and cultural issues.

Previously this year, Piper Jaffray awarded $440,500 in grants to 41 organizations bringing the total grantmaking for 2004 to $833,535. A Corporate Community Involvement Council guides the overall involvement efforts and makes funding decisions in the Twin Cities. Local decision making resides with one of eight Regional Community Involvement Councils. Piper Jaffray has made a commitment to contribute five percent of its pre-tax earnings to charity each year with the combination of cash contributions, in-kind contributions and volunteer hours.

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 since 1895. 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, Media Relations of Piper Jaffray, 612-303-5680
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