NEW YORK--(BUSINESS WIRE)--April 7, 2008--Piper Jaffray & Co. (NYSE: PJC) announced today that Mark Leavitt has been named managing director and head of media, entertainment and telecommunications investment banking. Leavitt, a 25-year industry veteran, will build and lead the team out of the Piper Jaffray New York office.

"Mark has a proven track record of building and leading great teams to serve media, entertainment and telecommunications clients through numerous economic cycles," said Murray Huneke, co-head of Investment Banking at Piper Jaffray. "These are dynamic and converging industries that offer significant growth and acquisition opportunities and Mark's expertise will allow us to quickly build our capabilities in the sector."

Leavitt joins Piper Jaffray from Jefferies & Company Inc. where he was a managing director and group head of the firm's media and communications group. Prior to that, Leavitt held similar leadership positions at SG Cowen and Robertson Stephens.

"Middle market media, entertainment and telecommunications companies are looking for independent, superior financial advice to capitalize on the convergence that is taking place in these industries," said Leavitt. "Piper Jaffray has strong expertise in technology and a global footprint in Asia and Europe. These are important resources for our clients to best take advantage of the opportunities in the marketplace."

Leavitt holds a bachelor's degree in economics from Trinity College and a Master of Business Administration from the University of Chicago. He is a member of the board of directors at Trinity College and the Harlem Globetrotters and president of the Jacobs Pillow Dance Festival.

Leavitt will report to Huneke and Jon Salveson, head of investment banking.

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) (www.piperjaffray.com)

Since 1895. Member SIPC and FINRA.

(C) 2008 Piper Jaffray & Co., 800 Nicollet Mall, Suite 800, Minneapolis, Minnesota 55402-7020

CONTACT: Piper Jaffray
Investor Relations
Jennifer Olson-Goude, 612-303-6277
or
Media Relations
Rob Litt, 612-303-8266

SOURCE: Piper Jaffray Companies