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MINNEAPOLIS, Sept. 17 /PRNewswire-FirstCall/ -- Piper Jaffray & Co. is pleased to announce it will expand its municipal arbitrage trading capabilities with the addition of Mark Schierman and Andrew Olson to its municipal trading staff. They will be based in Minneapolis, leveraging the firm's existing municipal trading expertise and focusing on municipal cash and derivative arbitrage trading.

Schierman joins Piper Jaffray as a managing director and brings 15 years of experience to the firm. Prior to joining Piper Jaffray, Schierman was a managing director of proprietary trading at RBC Dain Rauscher where he managed proprietary municipal trading desk systems and personnel. He holds a Bachelor of Arts degree in Business Administration from the University of St. Thomas.

With more than 15 years of experience, Olson joins the arbitrage trading team as a managing director. He was previously a Vice President in proprietary trading at RBC Dain Rauscher where he managed and traded municipal accounts. Prior to RBC Dain Rauscher, Olson was a vice president of municipal underwriting and trading at Piper Jaffray. He is a certified financial analyst and holds a Bachelor of Arts degree in Business Administration from the University of St. Thomas.

"I am excited to have Mark and Andrew join Piper Jaffray," said Brad Winges, head of Public Finance Sales and Trading. "With more than 30 years of combined municipal trading experience, the team is well-positioned to expand our presence in the municipal marketplace."

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 and Shanghai. Piper Jaffray & Co. is the firm's principal operating subsidiary. (NYSE: PJC) (http://www.piperjaffray.com)

Since 1895. Member SIPC and NYSE.

(C) 2007 Piper Jaffray & Co., 800 Nicollet Mall, Suite 800, Minneapolis, Minnesota 55402-7020

SOURCE:
Piper Jaffray & Co.

CONTACT:
Rob Litt
+1-612-303-8266
of Piper Jaffray & Co.