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NEW YORK, Jan 16, 2007 /PRNewswire-FirstCall via COMTEX News Network/ -- Piper Jaffray announces that it has expanded its health care investment banking platform with the hire of Stuart Duty, as a managing director and co-head of the Health Care Investment Banking team. He will lead the firm's biotechnology effort and will be based in New York.

Duty has more than 19 years of experience advising and serving clients in health care investment banking. He most recently was a partner, the chief operating officer and director of strategic investments for Oracle Investment Management, Inc., in Greenwich, Conn. In this role, he managed operations for one of the leading health care equity funds under management. Duty previously served as the co-head of health care investment banking at Piper Jaffray from 1999-2001.

"We are thrilled to expand our health care team with the addition of Stuart as co-head," said Jon Salveson, head of Investment Banking at Piper Jaffray. "Stuart has extensive relationships and knowledge in health care and specifically the biotechnology industry and it is a tremendous opportunity to have a partner of his experience and expertise back with us at Piper Jaffray."

Duty has a master's of business administration degree from Harvard Business School and a bachelor's degree in biochemistry from Occidental College in Los Angeles.

About Piper Jaffray

Piper Jaffray Companies is a leading, international middle market investment bank and institutional securities firm, serving the needs of middle market corporations, private equity groups, public entities, nonprofit clients and institutional investors. Founded in 1895, Piper Jaffray provides a comprehensive set of products and services, including equity and debt capital markets products; public finance services; mergers and acquisitions advisory services; high-yield and structured products; institutional equity and fixed-income sales and trading; and equity and high-yield research. With headquarters in Minneapolis, Piper Jaffray has 25 offices across the United States and international locations in London, Madrid and Shanghai. The firm's UK operating subsidiary, Piper Jaffray Ltd., is authorized and regulated by the Financial Services Authority and is a member of the London Stock Exchange. Piper Jaffray & Co. is the firm's principal operating subsidiary. (NYSE: PJC) ( )

Since 1895. Member SIPC and NYSE.

SOURCE Piper Jaffray

Susan Beatty, Media Relations, of Piper Jaffray & Co.,