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MINNEAPOLIS and SHANGHAI, China, Sept. 25 /PRNewswire-FirstCall/ -- Piper Jaffray Companies (PJC), today announced that its chief operating subsidiary, Piper Jaffray & Co., has opened its new investment banking and research office in Shanghai. The new office is part of the firm's continued global expansion in Asia and Europe and will allow Piper Jaffray the opportunity to offer clients broadened international investment banking and research services.

"Our expansion into Shanghai is a key part of our overall growth initiative at Piper Jaffray enhancing our drive to be a leading international middle market investment bank and institutional securities firm," said Andrew Duff, chairman and chief executive officer of Piper Jaffray Companies. "We are thrilled to launch our first Piper Jaffray office in Shanghai, to serve our increasing number of Asian clients in our areas of industry expertise."

Piper Jaffray & Co., has been active in the financial markets in Asia since 2000, having completed six IPO and follow-on transactions year-to-date and 20 transactions overall. The firm's first transaction for a company with China-based operations was a U.S. IPO for UTStarcom in 2000, which has been followed by transactions for other leading Chinese technology companies including: Baidu.com Inc., Ctrip.com International Ltd., Focus Media Holding Limited, New Oriental Education and Technology Group, Shanda Interactive Entertainment Limited, Tom Online Inc. and Vimicro International Corporation. In addition, Piper Jaffray has hosted its China Internet and Technology conference in Beijing the past three years. The firm currently covers 17 Asian companies in its investment research department.

The Shanghai office officially opens today and is located in the Platinum Building on Tai Cang Road in the Luwan District in Shanghai.

About Piper Jaffray

Piper Jaffray Companies is a leading, international middle-market investment bank and institutional securities firm, serving the needs of middle-market corporations, private equity groups, public entities, nonprofit clients and institutional investors. Founded in 1895, Piper Jaffray provides a comprehensive set of products and services, including equity and debt capital markets products; public finance services; mergers and acquisitions advisory services; high-yield and structured products; institutional equity and fixed income sales and trading; and equity and high-yield research. With headquarters in Minneapolis, Piper Jaffray has 24 offices across the United States and International locations in London, Madrid and Shanghai. Piper Jaffray & Co. is the firm's principal operating subsidiary. (NYSE: PJC) (http://www.piperjaffray.com)

Since 1895. Member SIPC and NYSE.

SOURCE Piper Jaffray & Co.

CONTACT:
Susan Beatty, Media Relations of Piper Jaffray & Co.,
+1-612-303-5680

Web site: http://www.piperjaffray.com