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- Firm Completes Final Round of Grants, Awarding $404,250 to Support Strong Youth Organizations -

MINNEAPOLIS, Dec. 16 /PRNewswire-FirstCall/ -- Piper Jaffray is pleased to announce that it has awarded grants to 69 nonprofit organizations across the firm's geographic regions for a total of $404,250 in its final round of grants in 2004. This round of grantmaking supports strong youth organizations whose programs focus on helping disadvantaged youth in grades K-12 achieve academic success. In its first year as an independent public company, Piper Jaffray awarded more than $1.2 million in grants to more than 150 organizations.

"We are delighted to complete our first year of grantmaking," said Andrew Duff, chairman and chief executive officer of Piper Jaffray Companies. "We made grants to organizations that help advance the communities in which we work and live and we are proud to be among the current supporters of these tremendous organizations."

Piper Jaffray awarded grants to strong youth organizations that support well-established, effective programs that provide intensive tutoring and academic instruction. Other selection criteria included organizations that partner with schools to serve academically at-risk youth, involve parents and expose youth to post-secondary education opportunities and link them with the necessary resources to achieve their goals.

The Piper Jaffray Corporate Community Involvement Council guides the overall involvement efforts and makes funding decisions in the Twin Cities. Local decision making resides with the firm's Regional Community Involvement Councils. In addition, Piper Jaffray has made a commitment to contribute five percent of its pre-tax earnings to charity each year through a 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 .

Since 1895. Member SIPC and NYSE.

SOURCE Piper Jaffray

CONTACT: Susan Beatty, Media Relations, of Piper Jaffray, 612-303-5680
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