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MINNEAPOLIS AND LONDON, Sept. 29 /PRNewswire-FirstCall/ -- Piper Jaffray Companies (NYSE: PJC) is pleased to announce that its UK subsidiary, Piper Jaffray Ltd., commenced trading as a member firm of the London Stock Exchange (LSE). Piper Jaffray Ltd. will act in a principal and agency capacity and as a market maker in UK domestic securities. The firm launched this effort yesterday with market making in 27 London Stock Exchange Full and AIM-listed companies.

"We are pleased to have commenced trading as a member firm on the London Stock Exchange," said David Wilson, chief executive officer of Piper Jaffray Ltd. "This is significant in that it clearly demonstrates the commitment of Piper Jaffray to the European life sciences sector, supplementing our existing specialist sector capabilities in the United States. We believe that we are the leading investment bank with a genuine established franchise focused on the small/mid-cap healthcare sector on both sides of the Atlantic."

Separately, Piper Jaffray Ltd. has been appointed as retained financial adviser and/or broker to its tenth London Stock Exchange listed company. Following this appointment, Piper Jaffray Ltd. now acts as the retained financial adviser and/or broker to approximately 25 percent of the companies comprising the FTSE techMARK Mediscience Index, the key index for LSE-listed emerging healthcare companies.

This milestone comes less than two months after Piper Jaffray Ltd. strengthened its global healthcare franchise through the addition of 14 of the UK's leading specialist healthcare investment bankers, research analysts, traders and sales people to supplement its existing 21 person London-based investment banking and sales operation.

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. With headquarters 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. Piper Jaffray & Co. is a member SIPC and NYSE. Securities products and services are offered in the United States through Piper Jaffray & Co. and in the United Kingdom through its affiliated company Piper Jaffray Ltd., which is authorized and regulated by the Financial Services Authority.

SOURCE  Piper Jaffray & Co.
    -0-                             09/29/2005
    /CONTACT:  Susan Beatty, Media Relations, +1-612-303-5680, or David Bick,
Holborn, +44 (0) 207 929 5599, both of Piper Jaffray & Co./
    /Web site:  http://www.piperjaffray.com /
    (PJC)

CO:  Piper Jaffray & Co.; Piper Jaffray Ltd.; Piper Jaffray Companies
ST:  Minnesota, England, Ireland, Scotland, Northern Ireland, Wales
IN:  FIN HEA MTC
SU:

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3560 09/29/2005 08:58 EDT http://www.prnewswire.com