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Christopher McCabe Joins U.S. Bancorp Piper Jaffray's Semiconductor And

Semiconductor Capital Equipment Investment Banking Practice

MENLO PARK, Calif., Aug. 5 /PRNewswire-FirstCall/ -- U.S. Bancorp Piper Jaffray (Piper Jaffray) is pleased to announce that Christopher McCabe has joined the firm's investment banking practice as a managing director.  He will focus his efforts on the firm's semiconductor and semiconductor capital equipment investment banking practice.  He is based in Piper Jaffray's Menlo Park office.

McCabe, 44, was most recently with Robertson Stephens Inc., in San Francisco, where he was instrumental in building the leading semiconductor investment banking practice on Wall Street.  He has a wealth of experience in initial public offerings (IPOs), follow-on offerings, convertible bond financings and merger and acquisition (M&A) transactions, most recently representing Elantec Semiconductor Inc. in its sale to Intersil Corporation -- the largest semiconductor M&A transaction year-to-date valued at $1.4 billion. In addition, McCabe represented Verisity Ltd. in its initial public offering -- the top-performing semiconductor IPO of 2001.

McCabe joins two of his former Robertson colleagues -- Tore Svanberg, senior analog and mixed-signal semiconductor device research analyst and Blake Williams, vice president and semiconductor investment banker, both of whom joined Piper Jaffray earlier this year.

With nearly 20 years of banking experience and strong relationships within the semiconductor industry, we believe Chris is the ideal candidate to drive our semiconductor investment banking practice, while capitalizing on Piper Jaffray's current position as one of the top growth company investment banks in the industry, said Chad R. Abraham, head of technology and communications investment banking at U.S. Bancorp Piper Jaffray.

These are turbulent times for the semiconductor industry, said McCabe. Our clients need a partner who can offer strategic advice and access to capital and Piper is extremely well-positioned to partner with great growth technology companies.

Prior to joining Robertson Stephens in 1999, McCabe spent 14 years at Bank Boston, most recently as head of West Coast technology banking in Palo Alto, Calif.  He resides in Menlo Park, Calif. with his wife and four children.

U.S. Bancorp Piper Jaffray, a subsidiary of Minneapolis-based

U.S. Bancorp (NYSE: USB), is a focused securities firm comprised of three divisions:  Equity Capital Markets, Fixed Income Capital Markets and Private Advisory Services.  The firm provides a full range of investment products and services to individuals, institutions and businesses.  The firm has over 120 offices in 23 states across the country.  The Equity Capital Markets Division focuses on the needs of growth companies in the health care, technology, financial institutions, consumer and communications growth sectors.  The firm has a national reputation for its expertise in fundamental research and equity and debt financing.  The Fixed Income Capital Markets business provides bond issuers, individual investors and institutional investors expertise in investment banking, underwriting, trading, sales and research.  The firm offers innovative solutions in corporate and government debt financings with particular expertise in corporate, health care/hospitals, real estate, higher education and government debt.  The Private Advisory Services division financial advisors provide guidance in retirement planning, education planning, estate planning and wealth accumulation.  Investors select from a wide array of products, including fee-based products, stocks, bonds, mutual funds, annuities, insurance and trust services.  U.S. Bancorp offers a comprehensive range of financial solutions through U.S. Bank, U.S. Bancorp Asset Management, U.S. Bancorp Investments and U.S. Bancorp Piper Jaffray. For more information on U.S. Bancorp Piper Jaffray, visit www.piperjaffray.com .

Nondeposit investment products are not insured by the FDIC, are not deposits or other obligations of or guaranteed by U.S. Bank National Association or its affiliates, and involve investment risks, including possible loss of the principal amount invested.  Securities products and services are offered through U.S. Bancorp Piper Jaffray Inc., member SIPC and NYSE, Inc., a subsidiary of U.S. Bancorp.   (5/99-0679)



SOURCE  U.S. Bancorp Piper Jaffray

    -0-                             08/05/2002

/CONTACT:  Erin Freeman, Director of Public Relations, +1-415-277-1595, or Dana H. Wade, Public Relations, +1-415-277-1556, both of U.S. Bancorp Piper Jaffray/

/Web site:  http://www.piperjaffray.com  /


CO:  U.S. Bancorp Piper Jaffray; U.S. Bancorp
ST:  California, Minnesota

-- MNM012 --
0214 08/05/2002 11:13 EDT http://www.prnewswire.com

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