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NEW YORK, Feb 23, 2006 /PRNewswire-FirstCall via COMTEX News Network/ -- As part of the firm's focus on meeting the needs of its clients, Piper Jaffray & Co. is pleased to announce that it has added a financial restructuring team to its Corporate and Institutional Services division. The six-member team will join the firm in New York and will provide advisory services to financially stressed and distressed companies and their creditor and shareholder constituents.

"We are very pleased to add the restructuring capability to our current set of proprietary products and services that we offer our clients," said Tom Schnettler, head of Corporate and Institutional Services at Piper Jaffray. "This capability will allow us to deliver strategic counsel and analysis to help our clients restructure and recapitalize businesses for future profitability."

Leading the group at Piper Jaffray is managing director Joseph Radecki Jr. Radecki most recently was the head of the Financial Restructuring Group at CIBC World Markets Corp. in New York. He also has extensive experience in restructuring through his previous work at Jefferies, Inc. and Drexel Burnham Lambert.

Also joining the firm are Jonathan Brownstein and Michael Hsieh, principals, Ritwik Chatterjee and Jason Solganick, vice presidents and Geoffrey Zbikowski, analyst. All previously worked at CIBC World Markets Corp.

"We have successfully worked together as a team for many years on numerous large and complex restructurings, such as Maxim Crane, Geo Specialty Chemicals, Radio Unica Communications Corp., W.R. Grace & Co. and USG Corp.," said Radecki. "We are excited about bringing our product and expertise to Piper Jaffray and feel we will be a very complementary fit with its existing platform."

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. With headquarters in Minneapolis, Piper Jaffray has approximately 2,900 employees in 107 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