Piper Jaffray & Co. Launches New Giving Program, Commits 5% of Profits to Charity

Piper Jaffray has announced the launch of its new charitable giving program and its renewed commitment to contribute 5 percent of its pre-tax earnings to charity. The announcement follows the company's spin-off from U.S. Bancorp at the end of 2003.

For the past 109 years, Minneapolis-based Piper Jaffray has been integrally involved in the communities it serves. This historical commitment is being reinforced as the firm again becomes an independent public company.

Piper Jaffray is committed to building stronger communities through collaborative philanthropy, providing nonprofits with both financial support and its employees' time and expertise. The companies new giving program has three main components:

1. Building Strong Communities - "A Better Place": Piper Jaffray will partner with community development and affordable housing organizations to improve the lives of those in its local communities.

2. Building Vibrant Culture - "A Colorful Canvas": Piper Jaffray will support arts and cultural organizations whose programs advance access to the arts, address cultural enrichment and issues related to diversity and impart their value to our youth.

3. Building Strong Youth - "A Leg Up": Piper Jaffray will partner with local schools and organizations to give children a leg up in life by tearing down barriers to their education, i.e., workplace tutoring.

The company will favor support for projects and programs that involve its employees; allow the company's involvement to make a significant and/or sustainable impact; and provide opportunities to collaborate with customers and/or key non-governmental and community organizations.

Piper Jaffray will provide financial support for programs or projects that serve its communities as well as general operating support. The company will provide capital campaign support, with a maximum $100,000 grant, for three organizations annually that fall within its guidelines and have a pre-existing relationship with the company.

Piper Jaffray will consider grant applications three times a year based on focus areas. Upcoming deadlines are March 31, 2004, for Building Strong Communities; July 15, 2004, for Building Vibrant Culture; and Oct. 1, 2004, for Building Strong Youth.

For more information and an application, visit Piper Jaffray's Web site, or Kris Kewitsch,
community relations manager, at 612/303-5515 or kristin.k.kewitsch@pjc.com.

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