MINNEAPOLIS--(BUSINESS WIRE)--Jan. 11, 2007--Community Reinvestment Fund, USA (CRF), a nonprofit organization that connects community development lenders with the capital resources of Wall Street, today announced Piper Jaffray awarded the organization a $300,000 grant. Piper Jaffray will provide this grant in two installments of $150,000 over two years.

CRF will use this funding to foster community revitalization in underserved geographic areas nationwide. The grant will allow CRF to attract at least $15 million in additional capital in the form of program related investments (PRIs) and equity equivalent investments (EQ2s), two forms of below-market interest rate loans that are used by
CRF to drive more capital into underserved communities.

"CRF is a fit with our funding guidelines, which focus on reinvesting in the economic development of underserved communities," said Frank Fairman, head of Public Finance Services for Piper Jaffray. "The organization's national reach ensures dollars can truly benefit local communities, and we know from past history CRF grant funds will be used to generate the greatest social impact possible with replicable success throughout the country."

"Our long-term partnership with Piper Jaffray has helped bring greater sophistication to our processes for delivering Wall Street capital to underserved areas nationwide," said Frank Altman, president and chief executive officer for CRF. "We are pleased Piper Jaffray has demonstrated its continued confidence in our work by providing us with
this generous grant."

About Piper Jaffray

Piper Jaffray Companies is a leading, international middle market investment bank and institutional securities firm, serving the needs of middle market corporations, private equity groups, public entities, nonprofit clients and institutional investors. Founded in 1895, Piper Jaffray provides a comprehensive set of products and services, including equity and debt capital markets products; public finance services; mergers and acquisitions advisory services; high-yield and structured products; institutional equity and fixed-income sales and trading; and equity and high-yield research. With headquarters in Minneapolis, Piper Jaffray has 25 offices across the United States and international locations in London, Madrid and Shanghai. Piper Jaffray & Co. is the firm's principal operating subsidiary. (NYSE:PJC) http://www.piperjaffray.com.

About CRF

Community Reinvestment Fund, USA (CRF), a Minneapolis-based nonprofit organization, is the nation's leader in bringing capital to public and private, nonprofit community development lenders through the secondary market for loans. Formed in 1988, CRF has injected hundreds of millions of dollars into low-income and economically disadvantaged communities around the country to help stimulate job creation and economic development, provide affordable housing, and support community facilities. www.crfusa.com

Copyright Business Wire 2007

Community Reinvestment Fund

Community Reinvestment Fund

Community Reinvestment Fund, USA (CRF) is the national leader in bringing capital to community-development lenders through the secondary market for loans. Started in 1988, CRF has injected hundreds of millions of dollars into low-income and economically disadvantaged communities across the country to help stimulate job creation and economic development, provide affordable housing and construct community facilities. CRF is a nonprofit organization, headquartered in Minneapolis, MN. It is supported primarily by its own revenue-generating activities, including loan purchasing, loan servicing and training and technical assistance. CRF gets further support from foundations, corporations and individuals that want to use their social-purpose investments in a way that maximizes their effectiveness. These dollars help CRF continue to expand its activities. CRF is not affiliated with any governmental agency.

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