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MINNEAPOLIS, May 6 /PRNewswire/ -- Piper Jaffray & Co. tied for eighth place in the annual rankings for top equity research analysts. The annual rankings sort brokerage analysts in two categories: picking stocks and predicting earnings. In producing the rankings, StarMine considered only earnings estimates and stock recommendations made during calendar year 2004 and for companies based in the U.S. and Canada.

In addition to the firm's overall ranking, seven of its analysts received awards for stock picking and two received awards for earnings accuracy. For stock picking, the following analysts were recognized:

     * Steven Hamill in health care equipment and supplies (No. 2 overall in
       this sector)
     * Gene Munster in software (No. 2 overall in this sector)
     * Brett Manderfeld in commercial service and supplies (No. 3 overall in
       this sector)
     * Peter Swanson in IT services (No. 3 overall in this sector)
     * Mike Walkley in communications equipment (No. 2 overall in this sector)
     * Thomas Wei in biotechnology (No. 3 overall in this sector)

In the earnings accuracy category, the following two analysts received honors:

     * Tony Gikas in leisure equipment and products (No. 2 overall in this
     * Jeff Klinefelter in textile apparel and luxury goods (No. 3 overall in
       this sector)
     * Bob Napoli in thrifts and mortgage finance (No. 3 overall in this

"We are very pleased with the rankings results for the firm and the individual analysts recognized," said Mike Ott, head of Equity Research at Piper Jaffray. "We believe this achievement reflects a sustained dedication to research expertise while also adding value for our clients."

Smith Barney Citigroup ranked first overall, Lehman Brothers was second, Goldman Sachs and Prudential Equity Group tied for third, Merrill Lynch was fifth, Banc of America Securities was sixth, UBS was seventh and Piper Jaffray and BB&T Capital Markets tied for eighth.

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. 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 104 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.

2005 Piper Jaffray & Co., 800 Nicollet Mall, Suite 800, Minneapolis, Minnesota 55402-7020

SOURCE  Piper Jaffray & Co.
    -0-                             05/06/2005
    /CONTACT:  Susan Beatty, Public Affairs and Media Relations of Piper
Jaffray, +1-612-303-5680/
    /Web site:

CO:  Piper Jaffray & Co.; Piper Jaffray Companies
ST:  Minnesota

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