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BALTIMORE — September 6, 2006—Robert Swerdling, managing director at Piper Jaffray with the municipal hospitality team, is serving as the chairperson of the Tourism as Economic Development Conference on Sept. 7-8, 2006 at the Hyatt Regency Baltimore.

Swerdling will present opening comments on Sept. 7 at 9 a.m. and will moderate a panel titled “Hotels in Convention Center Markets: Financing, Strategies and Struggles” at 2:45 p.m. on the same day. The panel will discuss the dynamics of development and the key issues that are incorporated in the decision making process.

Swerdling, who has been with Piper Jaffray for 10 years, has 22 years of experience in public finance and focuses on hospitality with extensive experience in all aspects of hotel financings. He has led the Piper Jaffray team on numerous tourism finance transactions including: the Austin-Bergstrom Airport Hotel (1999), the Austin Convention Center Hotel (2001), the Omaha Convention Center Hotel (2002), the Denver Convention Center Hotel (2003), and the Baltimore Hilton Convention Center Hotel (2006).

Piper Jaffray serves as a Platinum Sponsor for the conference.

About Piper Jaffray
Piper Jaffray Companies (NYSE: PJC) is a leading middle-market investment bank and institutional securities firm, serving the needs of clients since 1895. Piper Jaffray & Co., the firm's principal operating subsidiary, provides a comprehensive set of products and services, including equity and public finance underwriting; mergers and acquisitions; equity and debt capital markets; high-yield and structured products; institutional equity, tax-exempt and taxable sales and trading; and equity and high-yield research. The firm's equity business is focused on seven sectors of the economy: alternative energy, business services, consumer, financial institutions, health care, industrial growth and technology. The firm's public finance business is principally focused on five sectors of the tax-exempt market: state and local governments, real estate and housing, health care, education and hospitality. With headquarters in Minneapolis, Piper Jaffray has approximately 1,000 employees in 25 states across the United States and in London. For more information about Piper Jaffray, visit us online at http://www.piperjaffray.com.

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Rob Litt
Media Relations
Piper Jaffray & Co.
Tel: 612 303-8266