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MINNEAPOLIS—Nov. 7, 2005—Piper Jaffray & Co. announced that Ward Ring has been hired as managing director of funding and distribution strategies for Wealth Advisory Services. Ring, a 25-year industry veteran, will direct the firm's initiatives focused on individual and corporate retirement planning, mutual funds, annuities, insurance and unit investment trusts.

“Ward brings more than two decades of experience to bear on these critical client needs, and his background is perfectly suited to provide strategic counsel and skills to drive results,” said Tom Seitz, director of Wealth Advisory Services at Piper Jaffray.

Ring joins Piper Jaffray after spending five years at the Stanton Group, where he was the national director of sales. Prior to this role, Ring worked at RBC Dain Rauscher and Marquette BancShares.

Ring is a graduate of the University of Minnesota with a degree in business administration and has a Chartered Life Underwriter® designation from The American College.

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. Piper Jaffray & Co. 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 www.piperjaffray.com.

Since 1895. Member SIPC and NYSE.

© 2005 Piper Jaffray & Co., 800 Nicollet Mall, Suite 800, Minneapolis, Minnesota 55402-7020

Contact:
Rob Litt
Piper Jaffray & Co.
Tel: 612 303-8266
rob.m.litt@pjc.com