JMP Securities Opens Boston Office and Grows Chicago Office
Investment Bank to Occupy 265 Franklin Street; Senior Professionals Join Equity Sales and Trading Group

SAN FRANCISCO, March 20, 2006 - JMP Securities LLC, a research-driven, full-service investment bank serving growth companies and their investors, announced today the opening of an office in Boston and the addition of three professionals to the firm's equity sales and trading department.

On April 3, 2006, JMP Securities will open its newest office, complementing its San Francisco headquarters and locations in New York and outside Chicago. The address is JMP Securities LLC, 265 Franklin Street, 10th Floor, Boston, MA 02110, and the telephone number is (617) 235-8500.

"As one of the centers of U.S. money management, Boston has long been a focus for our institutional sales force," said President Craig Johnson. "By leasing space and establishing a permanent foothold there, JMP will be able to serve its institutional customers in the Northeast better than ever before. Managing Director Dan Wychulis will relocate from San Francisco, bringing JMP's culture and senior leadership to this exciting new office and presence in Boston, and will be joined by two veteran sales traders, newly hired directors Dylan Ade and Margaret Quigley."

In addition, Vincent F. Montesano, Jr. joins JMP Securities as a director and institutional salesperson based in the firm's Chicago area office.

"We are very pleased that Vince has joined us as a member of our sales force," said Director of Equities Mark Lehmann. "In just over two years, Glenn Geist has built a strong Midwest distribution franchise for JMP; and now, with the addition of Vince, our ability to serve institutional clients as well as corporate issuers will be greatly enhanced."

Prior to joining JMP Securities, Mr. Montesano was a director in the institutional equity sales division of Leerink Swann & Co. He previously spent eight years at in institutional sales at Lehman Brothers and began his career at Kidder Peabody & Co.

Mr. Ade was formerly a managing director and sales trader at Fulcrum Global Partners. He also served as a sales trader at Prudential Equity Group for four years and spent three years as a vice president at Morgan Keegan.

Before joining JMP Securities, Ms. Quigley was a sales trader at Susquehanna Financial Group. She was previously at Banc of America Securities for five years, most recently as a managing director, and spent the prior 12 years at Salomon 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 six growth industries: Technology, Healthcare, Consumer, Real Estate, Financial Services and Business Services. For more information, visit www.jmpsecurities.com.

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