JMP Securities Announces Key Appointments and Additions
Jim J. Fowler Named Co-Director of Research; Six Senior Professionals Join the Firm

SAN FRANCISCO, February 7, 2005 - JMP Securities LLC, a research-driven, full-service investment bank serving growth companies and their investors, announced today the promotion of Jim J. Fowler to the position of co-director of research and the addition of six senior professionals to the sales and trading, healthcare investment banking and finance groups since the first of the year.

Jim J. Fowler Named Co-Director of Research

JMP has named Jim J. Fowler co-director of research alongside James F. Wilson. Director of Equities Mark Lehmann remarked, "Jim Fowler’s tremendous impact on our platform as a research analyst has helped drive the dynamic growth of JMP’s business. Jim’s supervision will strengthen our research product and ensure the highest levels of integrity and quality. Research is the engine of JMP’s success, and we are sure to benefit from the combined skills and efforts of both Jim Fowler and Jim Wilson."

Sales and Trading Hires

Marilynn Fogarty joins JMP as a managing director in institutional sales. Prior to joining JMP, Marilynn was a managing director in institutional sales at Schwab SoundView Capital Markets and a partner at its predecessor, SoundView Technology Group, for nearly 12 years. At SoundView, Marilynn led the firm’s international equity sales effort and also handled several significant domestic accounts. Marilynn began her securities career at Prudential Securities, where she worked for eight years.

Jake Rothenberg joins JMP as a managing director in institutional sales. From 1998 through 2004, Jake was a managing director at Schwab SoundView Capital Markets, where he had served as an institutional salesperson. From 1996 until 1998, Jake worked in institutional sales at Hambrecht & Quist.

Colin Henne joins JMP as a director and sales trader. Before joining JMP, Colin had been an equity sales trader at Susquehanna Financial Group for two years. From 1996 through 2001, Colin was a vice president and equity sales trader at Robertson Stephens; and, from 1993 through 1996, he served as a Senior Associate at Scudder, Stevens & Clark in the Global Small Company Accounts division.

Healthcare Investment Banking Group Hires

Peter Hunt joins JMP as a managing director and will lead JMP’s healthcare services investment banking effort. Prior to joining JMP, Peter served as a managing director at Shattuck Hammond Partners specializing in all areas of the healthcare industry, including pharmaceuticals, distribution, biotechnology, medical technology and information technology. Peter previously spent four years as a senior managing director at Montgomery Securities, now Banc of America Securities, where he was a member of the healthcare corporate finance group and a director of mergers and acquisitions. Peter spent the first ten years of his career at JP Morgan and Lehman Brothers.

JMP Securities LLC is a full-service investment bank providing equity research, institutional brokerage and investment banking services to public and private growth companies and their investors. Headquartered in San Francisco, JMP Securities serves five industries that exhibit above-average long-term growth characteristics: Technology, Healthcare, Consumer, Financial Services and Business Services. For more information, visit www.jmpsecurities.com.

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