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CHARLOTTE, N.C., July 10 /PRNewswire-FirstCall/ -- Piper Jaffray & Co. is pleased to announce the opening of its high-yield and structured products office in Charlotte. The office is located in the downtown area in the Charlotte Plaza building at 201 S. College Plaza and will offer clients a full suite of high-yield structured products and services.

"Charlotte is a business community that has experienced tremendous growth, and it is important that we have an office there to serve our clients," said Ben May, head of High Yield and Structured Products at Piper Jaffray. "In addition, the area produces exceptional talent, and our presence in Charlotte provides us with the opportunity to build a comprehensive high-yield and structured-products team."

May, a North Carolina native, joined Piper Jaffray last year after spending most of his 26-year career at Wachovia. May oversees high-yield and structured-products sales and trading, and debt capital markets at Piper Jaffray.

Piper Jaffray currently has high-yield and structured products offices in Minneapolis; San Francisco; Des Moines, Iowa; Denver; New York City; Charlotte and Delafield, Wis.

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 http://www.piperjaffray.com .

Since 1895. Member SIPC and NYSE.

SOURCE Piper Jaffray & Co.

CONTACT:
Rob Litt of Piper Jaffray & Co.,
+1-612-303-8266
Web site: http://www.piperjaffray.com