JMP Securities To Host Third Annual
Research Conference March 9 and 10

Leading Venture Capitalists Will Discuss the Silicon Valley Economy and the Outlook for Venture Investing

SAN FRANCISCO, Feb. 17, 2004 — JMP Securities, a research-driven, full-service investment bank helping growth companies and their investors, will host its Third Annual Research Conference at the Ritz-Carlton Hotel in San Francisco on March 9 and 10, 2004. Highlighting the conference will be a panel discussion on emerging opportunities for venture capital in 2004 and in the coming years. Featured panelists will be Sam Collela, founder of Versant Ventures; Doug Mackenzie, partner, Kleiner Perkins Caufield & Byers; Geoff Yang, founding partner, Redpoint Ventures; and Harris Barton, managing member of HJR Capital.

The two-day conference will also include keynote speeches by JMP Group founder and CEO Joseph A. Jolson, and JMP Securities president Craig R. Johnson, and showcase management presentations from more than 75 public companies in five growth industries: technology, consumer, financial services, healthcare and business services. A partial list of presenting companies follows below.

Partial List of Presenting Companies

ABM Industries, Inc.
Alliance Data Systems Corporation
Allied Capital Corporation
American Capital Strategies Ltd.
Anthracite Capital, Inc.
Ariad Pharmaceuticals, Inc.
Ascential Software Corporation
Capital Trust, Inc.
CapitalSource Inc.
Celgene Corporation
CheckFree Corporation
Chicago Pizza & Brewery, Inc.
Chordiant Software, Inc.
Cisco Systems, Inc.
CKE Restaurants, Inc.
Cognos Incorporated
Commercial Capital Bancorp, Inc.
Cost Plus, Inc.
CoStar Group, Inc.
D.R. Horton, Inc.
ESCO Technologies Inc.
Exar Corporation
Exelixis, Inc.
Extreme Networks, Inc.
Exult, Inc.
F5 Networks, Inc.
Fair Isaac Corporation
Fairmont Hotels & Resorts Inc.
Fidelity National Financial, Inc.
FLIR Systems, Inc.
Gaylord Entertainment Company
Gevity HR, Inc.
Hanover Capital Mortgage Holdings, Inc.
Human Genome Sciences, Inc.
i2 Technologies, Inc.
Impac Mortgage Holdings, Inc.
IndyMac Bancorp, Inc.
Intersil Corporation
Intrawest Corporation
iStar Financial Inc.
Ixia
Kosan Biosciences Inc.
La Quinta Corporation
Levitt Corporation
McDATA Corporation
MGI Pharma, Inc.
Micrel, Incorporated
Myriad Genetics, Inc.
NCO Group, Inc.
NeoPham, Inc.
NetBank, Inc.
New Century Financial Corporation
NovaStar Financial, Inc.
Nuvelo, Inc.
Ocwen Financial Corporation
Overstock.com, Inc.
Pericom Semiconductor Corporation
Providian Financial Corporation
Pulte Homes, Inc.
Red Robin Gourmet Burgers, Inc.
Redwood Trust, Inc.
Roper Industries, Inc.
SAP AG
SERENA Software, Inc.
Sonic Corp.
Sonic Solutions
SPSS Inc.
Standard Pacific Corp.
SupportSoft, Inc.
Sybase, Inc.
The Bombay Company, Inc.
The St. Joe Company
The Steak n Shake Company
The Ultimate Software Group, Inc.
Transmeta Corporation
Tripath Technology, Inc.
Tuesday Morning Corporation
Westcorp
Williams-Sonoma, Inc.

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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