JMP Securities Announces Addition of Two Senior Professionals
David Fullerton Joins as Director of Private Capital Markets; Phillip Whitcomb Joins the Investment Banking Group

SAN FRANCISCO, June 08, 2005 - JMP Securities LLC, a research-driven, full-service investment bank serving growth companies and their investors, announced today the addition of David Fullerton as a managing director and the director of private capital markets, as well as the addition of Phillip Whitcomb as a director in the investment banking group specializing in homebuilding and building products.

"We are fortunate to add two seasoned professionals with real expertise and strong relationships in their respective industries," said President Craig Johnson. "Dave Fullerton built the structured PIPEs and private convertible securities businesses at two boutique investment banks, and we are confident that he will replicate his past successes at JMP. Phil Whitcomb has provided strategic guidance for two significant public companies and has unique insight into the housing industry due to his tenure at Centex. We expect both Dave and Phil to make meaningful contributions right away."

Fullerton joins JMP Securities from Piper Jaffray, where he was a managing director in the investment banking group with responsibility for arranging private financings for small and mid-cap public companies. He was previously an investment banker at Robertson Stephens, where, as part of the convertible securities team, he established and built the firm's structured private funding business. From 1989 to 1999, Fullerton was a member of the global fixed income sales and trading group at Banc of America Securities; from 1982 to 1990, he was a senior officer in Bank of America's national corporate lending group.

Whitcomb comes to JMP Securities from Centex Homes, a homebuilder owned by Centex Corporation (NYSE: CTX), where he spent six years as the vice president of corporate development with oversight of the company’s acquisitions activity. From 1990 to 1999, Whitcomb held various management roles at Electronic Data Systems Corporation (NYSE: EDS), most recently serving as director of corporate acquisitions and alliances. Whitcomb began his career as a corporate attorney specializing in real estate finance and mergers and acquisitions.

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.

# # #

For a PDF version of this press release, please click here.