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MINNEAPOLIS, Oct 28, 2004 /PRNewswire-FirstCall via COMTEX/ -- Piper Jaffray & Co. is pleased to announce that Chief Financial Officer Sandy Sponem has been named a winner of the 2004 Finance and Commerce Top Women in Finance award. Sponem will be honored along with 14 other women at a lunch Friday, Oct. 29 at Windows on Minnesota in downtown Minneapolis. The women were selected for their success in the financial world and for their personal and professional contributions to their companies and communities.

"I'm pleased to be honored by Finance and Commerce for this award," said Sponem. "This is a tremendously talented group of women to be honored with and I look forward to sharing this recognition with them."

Sponem joined Piper Jaffray in 1992 as accounting manager and was promoted to controller in 1995. She became CFO of Piper Jaffray in 1999. Prior to joining the firm, she was manager of analysis and control for Northwest Airlines, Inc., a manager of planning and analysis for Henry Birks Jewelers, Inc., and a manager of analysis and control for Cable Value Network, Inc.

Sponem earned a bachelor's degree and a master of business administration degree from the University of Wisconsin-Madison and is a certified public accountant (CPA).

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 since 1895. 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 .

Since 1895. Member SIPC and NYSE.

SOURCE Piper Jaffray & Co.

Susan Beatty, Media Relations of Piper Jaffray, +1-612-303-5680

http://www.piperjaffray.com