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Firm Unveils New Office Space In 345 California Center; Announces Bay Area Philanthropic Partnership

SAN FRANCISCO, Jan. 21 /PRNewswire-FirstCall/ -- Piper Jaffray & Co., the 109-year old securities firm, announced last night its plans to make a $30,000 donation to a San Francisco nonprofit to coincide with the company's opening of enlarged and renovated offices in the city. These steps come as the company, like the city of San Francisco itself, opens a new chapter in its history.

Piper Jaffray & Co. is a subsidiary of Piper Jaffray Companies, which completed its spin-off from U.S. Bancorp on December 31, 2003. Emerging again as an independent company, Piper Jaffray is focusing on providing superior financial advice, investment products and transaction execution within selected middle-market sectors of the financial services marketplace.

"In our view, middle-market clients no longer receive consistent attention from some securities firms that have been acquired or have elected to target larger clients," said Andrew Duff, chairman and chief executive officer of Piper Jaffray Companies. "We believe this is as true for the San Francisco Bay Area as it is for our other markets. We view this office expansion as a reinforcement of Piper Jaffray's continued commitment to meeting the needs of our corporate, public finance and institutional and individual investor clients in the San Francisco Bay Area. We look forward to successfully serving our San Francisco clients for many years to come."

Piper Jaffray's new San Francisco offices are located at 345 California Center, occupying four floors (21-24), and housing employees from a wide range of departments, including private client services, equity and fixed-income underwriting, mergers and acquisitions advisory services, institutional sales and trading, investment research and public finance, for a total of approximately 145 employees. This makes it the firm's second-largest office outside the Minneapolis headquarters. In the San Francisco Bay Area, Piper Jaffray also has an equity office in Menlo Park and three retail brokerage offices in Palo Alto, Sonoma and Walnut Creek.

Going beyond a bricks and mortar commitment and underscoring its heritage of community involvement, Piper Jaffray also will forge a philanthropic partnership with the San Francisco Bay Area's Edgewood Center for Children and Families that will include a financial commitment -- with an initial $30,000 donation -- as well as employee volunteers and management expertise. Edgewood has been serving San Francisco Bay Area children and families since the days of the Gold Rush.

"Piper Jaffray has a legacy of being involved in the communities in which its employees live and work," said Duff. "We are deeply committed to building stronger communities through collaborative philanthropy, and are thrilled to be partnering with Edgewood, an organization whose mission is a perfect fit with Piper Jaffray's commitment to initiatives that support children and families." To learn more about Piper Jaffray's giving guidelines, please go to .

Edgewood Center for Children and Families has been serving the needs of the Bay Area's most at-risk children since 1851. Founded as an orphanage during the Gold Rush, Edgewood today serves 5000 children and families. The agency has evolved into a nonprofit residential and day treatment facility for severely emotionally disturbed and learning disabled children, ages six to 14, most of whom have suffered parental abuse, neglect or prenatal substance exposure. Edgewood provides shelter, counseling, treatment and education for children; specialized programs for families; and early intervention programs in the schools.

Headquartered in Minneapolis, Piper Jaffray & Co., a subsidiary of 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. The firm serves corporations, government and non-profit entities, and institutional investors on a national basis and serves the financial advisory needs of private individuals predominantly across the western half of the United States. The firm has over 2900 employees in 123 offices in 23 states across the country and in London, England. For more information about Piper Jaffray, visit us online at .

SOURCE Piper Jaffray & Co. CONTACT: Dana H. Wade, Public Affairs and Media Relations of Piper Jaffray & Co., +1-415-277-1556 Web site: