Prior to joining Jesup & Lamont, Mr. Donovan spent the last 8 years serving as a Director within the institutional sales group at Credit Suisse. He brings a proven track record spanning over 25 years that included positions at Donaldson, Lufkin & Jenrette and Lehman Brothers.

"With Jim's decision to join our team we continue to build what we believe will be the super-regional boutique firm servicing middle market issuers and institutional clients. Jim's experience and long standing relationships should have significant impact on our business and we are pleased to have someone of his caliber join our firm," stated Kevin DiRussa, Executive Managing Director of Capital Markets for Jesup.

"Adding Jim to our team in Boston brings in another experienced executive who can have an immediate impact in the growth of our firm," added James A. Fellus, CEO of Jesup & Lamont Securities Corp. "Jim's decision to join us further validates our model as well as increasing our presence in Boston. With this and other additions we believe these are exciting times for Jesup employees and shareholders."

About Jesup & Lamont Inc.

Established in 1877, Jesup & Lamont has an extensive history on Wall Street, with its origins encompassing such successes as providing brokerage services to Standard Oil and raising capital for the construction of Rockefeller Center. Jesup & Lamont, through its two wholly owned brokerage subsidiaries, offers full service broker-dealer services through its approximately 300 retail brokers in over 30 offices nationwide and institutional sales offices in New York, San Francisco, Boston, Boca Raton and Orlando. The Company's Jesup & Lamont Securities Corporation subsidiary also publishes proprietary research on several industries including Aerospace/Defense, Alternative Energy and Life Sciences/Healthcare and offers comprehensive investment banking services.

Forward-Looking Statement Disclaimer

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risk, uncertainties or other factors which may cause actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Factors that might cause such a difference include, without limitation, fluctuations in the volume of transactional services provided by the Company, competition with respect to financial services commission rates, the effect of general economic and market conditions, factors affecting the securities brokerage industry as well as other risks and uncertainties detailed from time to time in the Company's Securities and Exchange Commission filings. The Company undertakes no obligation to revise or update any forward-looking statement.