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MINNEAPOLIS, May 2 /PRNewswire/ -- Piper Jaffray Companies today announced that Lisa K. Polsky has been elected to serve on the company's board of directors. Polsky is the president of Polsky Partners, a New York-based consulting firm specializing in hedge fund allocation, risk management and valuation policy.

"We are extremely pleased that Lisa will serve on our board of directors," said Andrew Duff, chairman and CEO of Piper Jaffray Companies. "Her securities industry experience and leadership will be great assets for our board, and we look forward to gaining her knowledge and insight."

Polsky brings nearly three decades of financial services experience to the Piper Jaffray board. She has served as the head of client financing services and head of leveraged client channel at Merrill Lynch, and as chief risk officer, head of risk policy, chief derivative strategist and head of product development at Morgan Stanley, among other roles.

Polsky's leadership on Wall Street includes her role as founder and current board member of Women on Wall Street. She also is a member of the Board of Directors of Investools, Inc., a provider of investor education. Lisa previously has served on a number of other boards including the Philadelphia Stock Exchange, International Association of Financial Engineers and International Swaps and Derivatives Association.

Polsky received her bachelor's degree in international business and economics from New York University.

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 25 offices across the United States and international locations in London and Shanghai. Piper Jaffray & Co. is the firm's principal operating subsidiary. (NYSE: PJC) (http://www.piperjaffray.com )

SOURCE  Piper Jaffray Companies
    -0-                             05/02/2007
    /CONTACT:  Media Relations, Rob Litt of Piper Jaffray, +1-612-303-8266/
    /Web site:  http://www.piperjaffray.com /
    (PJC)

CO:  Piper Jaffray Companies
ST:  Minnesota
IN:  FIN
SU:  PER

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0511 05/02/2007 17:00 EDT http://www.prnewswire.com