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MINNEAPOLIS, June 29 /PRNewswire-FirstCall/ -- Piper Jaffray is pleased to announce that the Piper Jaffray Foundation has awarded grants to 37 nonprofit organizations across the firm's geographic regions for a total of $172,500 to kick-off its second year of grantmaking as an independent public company. This first round of grantmaking in 2005 supports strong communities whose programs focus on community/economic development and affordable housing.

"We are delighted to support key partners," said Andrew Duff, chairman and chief executive officer of Piper Jaffray Companies. "These partners are vital to our communities in which we live and work."

Piper Jaffray awarded grants to organizations that develop affordable housing, work to revitalize local economies and provide economic opportunity for low-income residents. In addition to organizing programs that address the common interests of multiple geographic neighborhoods, other selection criteria included organizations that coordinate and support volunteers to conduct local neighborhood improvement projects, such as painting homes and park clean-up.

The Piper Jaffray Corporate Community Involvement Council guides the overall involvement efforts and makes funding decisions in the Twin Cities. Local decision making resides with the firm's Regional Community Involvement Councils. In addition, Piper Jaffray has made a commitment to contribute five percent of its pre-tax earnings to charity each year through a combination of cash contributions, in-kind contributions and volunteer hours.

For additional information and a complete list of the grants, visit http://www.piperjaffray.com/grants .

About Piper Jaffray Companies

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. Through its chief operating subsidiary, Piper Jaffray & Co., the firm 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 104 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 Companies
    -0-                             06/29/2005
    /CONTACT:  Media Relations, Kim Lochner of Piper Jaffray Companies,
+1-612-303-6919/
    /Web site:  http://www.piperjaffray.com /
    (PJC)

CO:  Piper Jaffray Companies; Piper Jaffray Foundation
ST:  Minnesota
IN:  FIN
SU:  NPT

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7020 06/29/2005 16:53 EDT http://www.prnewswire.com