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SAN FRANCISCO, May 3 /PRNewswire-FirstCall/ -- Piper Jaffray & Co. is pleased to announce that Les Santiago has joined the firm as a senior research analyst covering enterprise computing and storage companies. He will be based out of the firm's San Francisco office.

"Les's significant experience as a research analyst and his exceptional knowledge of the enterprise hardware sector made him the top candidate for the position," said Mike Ott, head of Equity Research at Piper Jaffray. "We look forward to him adding value and working closely with our semiconductor research analysts, Tore Svanberg and Richard Shannon, to provide our clients with an integrated research product."

Prior to joining Piper Jaffray, Santiago was a senior research analyst at UBS and an equity research analyst on the Institutional Investor-ranked PC and enterprise hardware team at Salomon Smith Barney. Santiago previously served as an associate vice president in technology mergers & acquisitions at Robertson Stephens Inc. In addition, he has more than six years of experience in the enterprise computing industry, having held various product engineering and management positions at Oracle Corporation in Redwood Shores, Calif., and Network Software Associates in Irvine, Calif.

Santiago holds a master's degree in business administration from the Wharton School at the University of Pennsylvania in Philadelphia and a master's degree in computer engineering from the University of Southern California in Los Angeles. He also has a bachelor's degree in electrical engineering from Bangalore University in Bangalore, India.

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 approximately 3,000 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 .

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SOURCE Piper Jaffray & Co. -0- 05/03/2004 /CONTACT: Dana H. Wade, Public Affairs and Media Relations of Piper Jaffray & Co., +1-415-277-1556/ /Web site: http://www.piperjaffray.com / (PJC) CO: Piper Jaffray & Co.; Piper Jaffray Companies ST: California, Minnesota