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SUN CITY, Ariz. (May 25, 2006) — Piper Jaffray & Co. is pleased to announce that Bob Solis, branch manager of the Sun City Piper Jaffray office, is one of only 10 honorees nationwide to receive the Outstanding Broker Award by Registered Rep magazine. The award is given annually to advisors with a commitment to client service and impact on their profession or community.

Solis was recognized for the tireless efforts that he and his wife' Sallie, and children have made in founding and opening Open Arms Home for Children, an orphanage in South Africa. The orphanage provides love and security for children orphaned by the tragic AIDS pandemic. Solis created an orphanage featuring eight bedrooms that will accommodate 24 children, leaving plenty of room for expansion (for more information, see www.openarmshome.com).

“Bob Solis is the type of person that truly makes our profession and the world a better place,” said Bob Peterson, head of Private Client Services at Piper Jaffray. “The passion that Bob has in bettering the community in which he lives and those around the world is contagious, and will obviously have a lasting impact. In addition, he is a leader in the Sun City branch and works tirelessly in providing financial solutions for his clients.”

Solis and the other award winners will be honored at a special event on May 19 at the NASDAQ MarketSite in Times Square in New York City. Earlier this year, Solis was honored by The Winner's Circle Organization as one of Arizona's Top Financial Advisors. He also received the Bobby Piper Award, given out annually to the Piper Jaffray employee who impacts a community through either leadership or direct service in a volunteer capacity in one or more nonprofit organizations.

Solis is the branch manager of the Piper Jaffray Sun City office. A Minnesota native, Solis joined his “hometown” firm in 1997 as a financial advisor in Sun City and earned the role of branch manager shortly thereafter. Solis also is involved with numerous Arizona-based community service initiatives, including serving on the investment committee for the Catholic Diocese of Phoenix, coordinating an annual golf tournament in the Virgin Islands involving players from Major League Baseball and volunteering each spring as a high school baseball coach.

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 currently operates through two primary revenue-generating segments: Capital Markets and Private Client Services. The sale of the company's Private Client Services branch network, announced April 11, 2006, currently is pending. The company's Capital Markets business generates revenue through two groups, Corporate and Institutional Services and Public Finance Services. Through its chief operating subsidiary, Piper Jaffray & Co., the firm has served corporations, government and nonprofit entities, institutional investors and the financial advisory needs of private individuals since 1895. With headquarters in Minneapolis, Piper Jaffray has approximately 2,800 employees in 107 offices in 23 states across the country and in London. For more information about Piper Jaffray, visit us online at www.piperjaffray.com.

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