JMP SECURITIES TO HOLD FOURTH ANNUAL RESEARCH CONFERENCE
100 Public Companies to Present to More than 300 Institutional Investors; Keynote Panel Featuring Industry Leaders in Venture Capital, Public Equity Investment, Hedge Fund Management and Real Estate Investment to Offer 2005 Outlook

SAN FRANCISCO Feb. 15, 2005 - JMP Securities LLC, a research-driven, full- service investment bank serving growth companies and their investors, announced today that it will hold its fourth annual JMP Securities Research Conference on March 1 and 2, 2005, at the Ritz-Carlton, San Francisco. JMP's annual conference is an opportunity for investors representing more than 175 buyside institutions to hear from 100 growing public companies selected from the five industries covered by JMP: Technology, Healthcare, Consumer, Financial Services and Business Services.

A highlight of this year's conference will be the panel discussion, "Post-Election Investment Opportunities, Public and Private," led by Harris Barton, Managing Member of HRJ Capital. The panel will address the current market environment and the 2005 investment outlook from a variety of perspectives, with a variety of asset classes in mind: venture capital, public equity, hedge fund investments and real estate. The distinguished panelists will be:

• Brook Byers, Partner - Kleiner, Perkins, Caufield & Byers, one of Silicon Valley's oldest and most respected venture capital firms;
• Michael Mahoney, Senior Managing Director - EGM Capital, a San Francisco-based investment management firm focused on small- and mid-cap emerging growth stocks;
• Aaron Braun, President - Willow Creek Capital Management, a hedge fund that seeks control positions in undervalued small- and mid-cap stocks; and
• Rick Koenigsberger, Principal - Apollo Real Estate Advisors, one of the nation's foremost real estate investment firms.

In addition, the conference will feature the following industry-focused roundtable discussions hosted by senior analysts from JMP's award-winning research team and senior executives from premier public companies:

• Technology: Post-Election Technology Trend Outlook
• Healthcare: Post-Election World: Stem-Cell Research and Drug Reimbursement
• Consumer: What Will People Be Buying?
• Financial Services: Is There a Credit Bubble?
• Business Services: The Future of Offshoring

"We believe our conference provides a valuable forum, where high-quality growth companies can meet and communicate with current and prospective shareholders," said Craig Johnson, JMP's president. "Our research analysts have identified the presenting companies as their best money-making ideas for 2005, and JMP's conference is an opportunity for the management of those companies to reach out to and hear from the investors who care most about them. We've invited more companies than ever before to present, and we expect a record number of buyside institutions to attend."

Attendees may register online at www.twstevent.com/jmp.html. Please note that the name of your primary contact at JMP Securities is required for registration. Interested institutional investors without a JMP relationship should contact Christine Gonzalez at (415) 835-8985 or cgonzalez@jmpsecurities.com. Members of the media should contact Jenny Spitz at The Blueshirt Group at (415) 217-7722 or jenny@blueshirtgroup.com.

Acadia Pharmaceuticals, Inc.
Accredited Home Lenders Holding Co.
ACE Cash Express, Inc.
Advanta Corp.
Advent Software, Inc.
Alliance Data Systems Corporation
Allied Capital Corporation
Anthracite Capital, Inc.
Arbor Realty Trust, Inc.
ARIAD Pharmaceuticals, Inc.
Ashford Hospitality Trust, Inc.
Avaya Inc.
BEI Technologies, Inc.
Bell Microproducts Inc.
Capital Trust, Inc.
CapitalSource Inc.
Celgene Corporation
CharterMac
Chordiant Software, Inc.
CKE Restaurants, Inc.
Commercial Capital Bancorp, Inc.
Comtech Group, Inc.
Cost Plus, Inc.
CoStar Group, Inc.
Cubist Pharmaceuticals, Inc.
Delta Financial Corporation
Denny's Corporation
Digital Realty Trust, Inc.
Dycom Industries, Inc.
ESCO Technologies Inc.
Exar Corporation
Extreme Networks, Inc.
F5 Networks, Inc.
Fairmont Hotels & Resorts Inc.
FLIR Systems, Inc.
Gaylord Entertainment Company
Gevity HR, Inc.
Gramercy Capital Corp.
Great Wolf Resorts, Inc.
Hovnanian Enterprises, Inc.
i2 Technologies, Inc.
Impac Mortgage Holdings, Inc.
Incyte Corporation
Informatica Corporation
InterMune, Inc.
Intersil Corporation
Ixia
Jack in the Box Inc.
Jameson Inns, Inc.
La Quinta Corporation
Labor Ready, Inc.
Luminent Mortgage Capital, Inc.
M.D.C. Holdings, Inc.
Majesco Holdings Inc.
MEMC Electronic Materials, Inc.
Meritage Homes Corp.
Micrel, Incorporated
MortgageIT Holdings, Inc.
Myriad Genetics, Inc.
NCO Group, Inc.
NeoPharm, Inc.
NETGEAR, Inc.
New Century Financial Corporation
Newcastle Investment Corp.
NorthStar Realty Finance Corp.
NovaStar Financial, Inc.
NPS Pharmaceuticals, Inc.
Nuvelo, Inc.
Ocwen Financial Corporation
Opsware Inc.
Orleans Homebuilders, Inc.
Oscient Pharmaceuticals Corporation
Peet's Coffee & Tea, Inc.
PeopleSupport, Inc.
Pericom Semiconductor Corporation
Protein Design Labs, Inc.
QC Holdings, Inc.
Rainmaker Systems, Inc.
Red Robin Gourmet Burgers, Inc.
RedEnvelope, Inc.
Redwood Trust, Inc.
Resources Global Professionals
Roper Industries, Inc.
Sangamo BioSciences, Inc.
Sonic Solutions
SpectraLink Corporation
SPSS Inc.
Standard Pacific Corp.
Sunterra Corporation
SupportSoft, Inc.
SYNNEX Corporation
The St. Joe Company
The Steak n Shake Company
Tuesday Morning Corporation
United PanAm Financial Corp.
Viisage Technology, Inc.
Westcorp 

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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