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SAN FRANCISCO, April 13 /PRNewswire-FirstCall/ -- Piper Jaffray & Co. is pleased to announce that Kathleen (Kathy) Steinbrecher has joined the firm as a senior research analyst covering western U.S. banks. The addition of this subsector represents an expansion of Piper Jaffray's research coverage of the banking industry, which is currently covered by Piper Jaffray Senior Banks and Investment Banks Analyst Andrew Collins and Senior Small- and Mid- Capitalization Banks Analyst Benjamin Crabtree. The broader Piper Jaffray financial institutions research platform currently encompasses:

     -- Banks and Investment Banks
     -- Financial Technologies and Services
     -- Small- and Mid-Capitalization Banks
     -- Specialty Finance

"We are pleased to have Kathy join our well-established bank research platform," said Mike Ott, head of Equity Research at Piper Jaffray. "Given her in-depth knowledge of the financial services sector and her extensive experience within the financial industry as both an institutional investor and a research analyst, I am confident Kathy will provide our clients with exceptional, value-added research on the sector."

Steinbrecher joins the firm from Allianz/Dresdner RCM Global Investors where she was a director and global equities portfolio manager. Prior to that, she was a research analyst in the Financial Services Group at Dresdner as well as a research associate at Montgomery Securities.

Steinbrecher earned a bachelor of science degree in business administration from the University of California, Berkeley and also holds the Chartered Financial Analyst designation.

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 111 offices in 23 states across the country and in London, England. For more information about Piper Jaffray, visit us online at www.piperjaffray.com .

Since 1895. Member SIPC and NYSE.

SOURCE  Piper Jaffray & Co.
04/13/2004
CONTACT:  Dana H. Wade, Public Affairs and Media Relations of Piper
Jaffray & Co., +1-415-277-1556
Web site:  http://www.piperjaffray.com