PJC Piper Jaffray Companies

Piper Jaffray & Co. announced that eight of its senior research analysts were honored with nine total awards in the 2008 FT/StarMine Global Analyst Awards. The awards, which were presented at a special gala dinner in New York on May 15, recognize the most outstanding stock pickers, earnings estimators and brokers in the United States, Europe and Asia. To determine the award winners, StarMine measures performance based on the returns of the analysts� buy/sell recommendations, as well as the accuracy of their earnings estimates. For the 2008 awards, only the performance of recommendations and estimates on companies based in the United States, Europe and Asia for the calendar year 2007 were considered. The following analysts received awards for stock picking in the U.S.*: Jeff Klinefelter ranked no. 1 in the Textiles, Apparel and Luxury Goods industry Timothy Nelson ranked no. 3 in the Healthcare Equipment and Supplies industry Jesse Pichel ranked no. 2 in the Electrical Equipment industry Caroline Stewart ranked no. 3 in the Biotechnology industry The following analysts received awards for estimating earnings in the U.S.*: Anthony Gikas ranked no. 3 in the Leisure Equipment and Products industry Aaron Kessler ranked no. 2 in the Internet and Catalog Retail industry Robert Napoli ranked no. 3 in the Thrifts and Mortgage Finance industry Jesse Pichel ranked no. 2 in the Electrical Equipment industry Sean Wieland ranked no. 2 in the Healthcare Technology industry �Our analysts are continually recognized for their expertise in various industries and sectors and for providing differentiated, proprietary and value-added research to our clients,� said Joel Denney, head of investment research at Piper Jaffray. �Congratulations to our senior research analysts for their top-tier performance and being named among the best analysts in the United States.� *Based on 2007 data 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, Hong Kong, and Shanghai. Piper Jaffray & Co. is the firm's principal operating subsidiary. (NYSE: PJC) (http://www.piperjaffray.com) Since 1895. Member SIPC and FINRA. � 2008 Piper Jaffray & Co., 800 Nicollet Mall, Suite 800, Minneapolis, Minnesota 55402-7020