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       New Newsletter Includes 'The Piper Jaffray China Internet Index'

MENLO PARK, Calif., July 19 /PRNewswire-FirstCall/ -- Piper Jaffray Senior Internet Media and Marketing Analyst Safa Rashtchy recently launched "The China Analyst," a weekly report on the Chinese Internet and technology market. Included as part of the newsletter is "The Piper Jaffray China Internet Index," which is comprised of publicly traded companies on the NASDAQ that are involved in China's Internet and wireless sector. The newsletter analyzes important developments in the Internet, online games, wireless services, economy, technology, consumer behavior, corporate activities and government regulations as well as explores how these trends impact both Rashtchy's existing coverage companies in China and the broader, long-term development of the Chinese Internet market. "The China Analyst" includes the following sections:

Rashtchy also authors "The Silk Road," a weekly commentary on the important developments in the broader Internet sector, in particular media and e-commerce stocks, and the trends to watch that he believes will impact how the Internet companies and stocks perform and how ultimately the Internet shapes the new economy. To subscribe to either "The China Analyst" or "The Silk Road" please contact your Piper Jaffray account executive or Dina Hauser at 650-838-1319.

Safa Rashtchy is a managing director of Piper Jaffray and a senior research analyst focused on Internet media and marketing. He joined Piper Jaffray as a research analyst in 1997 and has published several technical papers and presented at various industry conferences. In addition, Rashtchy was named to The Wall Street Journal's "Best on the Street" analyst survey for 2002 and 2003 and was also a winner in Institutional Investor magazine's "Home Run Hitters" top stock pickers list in 2001 and 2003. Rashtchy has developed his research coverage with a focus on online advertising, search, global Internet markets, e-commerce and related Internet services. He came to Piper Jaffray with an extensive background related to the Internet, as well as experience in the digital imaging industry. From 1992 to 1996, Rashtchy was president of ColorWorks Graphics, the digital imaging company he founded in Boston. Prior to that, Rashtchy worked in various technical and management capacities in computer graphics and engineering companies.

Piper Jaffray & Co. is the chief operating subsidiary of Piper Jaffray Companies (NYSE: PJC), 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. Piper Jaffray & Co. has served corporations, government and non-profit entities, institutional investors and the financial advisory needs of private individuals for more than 108 years. Headquartered in Minneapolis, Piper Jaffray has approximately 3,000 employees in 111 offices in 23 states across the country and in London. For more information about Piper Jaffray, visit us online at http://www.piperjaffray.com .

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