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MINNEAPOLIS, Feb 07, 2005 /PRNewswire-FirstCall via COMTEX/ -- Piper Jaffray & Co. is pleased to announce that it is expanding its Fixed Income Research department to include coverage of the health care sector. The firm hired Mark Arnold as an investment research analyst with the fixed income research team, where he will launch new coverage of the health care sector. Arnold will be based in the firm's Minneapolis headquarters.

"We are excited to have Mark join our research team," said Joel Denney, head of Fixed Income Research at Piper Jaffray. "He brings a host of impressive strengths that will be of great benefit to our firm and will assist him in launching Piper Jaffray's fixed-income research of the health care sector."

Prior to joining Piper Jaffray, Arnold was a marketer at 3M Company, where he managed numerous products under the Post-it, Scotch and 3M Brands. He also spent four years as a health care consultant for Clark Consulting, working with hospital systems and its affiliated physician groups on network strategy and operations, compensation and affiliation models. Arnold also worked as an investment banking analyst with Wessels, Arnold & Henderson. He earned a master's degree in business administration from the University of Michigan in Ann Arbor, Mich., and a bachelor's degree in mechanical engineering from Columbia University.

Piper Jaffray & Co. is the chief operating subsidiary of Piper Jaffray Companies (NYSE: PJC), 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. Piper Jaffray & Co. 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 & Co.

Susan Beatty, Media Relations of Piper Jaffray & Co., +1-612-303-5680