Firm Prepares for Dec. 31 Spin-Off
MINNEAPOLIS, Dec. 19 /PRNewswire-FirstCall/ -- U.S. Bancorp Piper Jaffray
announced today a management presentation to discuss the new Piper Jaffray
Companies (NYSE: PJC wi) as it prepares for its spin-off from U.S. Bancorp
(NYSE: USB). Featured presenters are Andrew S. Duff, the new company's
Chairman and Chief Executive Officer; and Sandra G. Sponem, Chief Financial
Officer. On December 15, U.S. Bancorp announced a special dividend, which
will distribute to U.S. Bancorp shareholders one share of Piper Jaffray common
stock for every 100 shares of U.S Bancorp common stock held, expected to be
payable on December 31, 2003 to U.S. Bancorp shareholders of record as of 5:00
p.m. Eastern Time on
December 22, 2003. The Piper Jaffray registration statement and Form 10 are
available on the Securities and Exchange Commission web site, www.sec.gov .
The management presentation will be available beginning at 10:00 a.m.
Eastern Time on Friday, December 19 through Friday, January 9, 2004 (time
subject to change). The 20-minute pre-recorded presentation features slides
and video. Investors may view the presentation by visiting www.netroadshow.com
The firm also announced a conference call for investors who wish to ask
questions of Andrew Duff and Sandra Sponem. This call has been scheduled for
Monday, December 22, 2003 at 11:00 a.m. Eastern Time, and will last
30 minutes. Interested investors may participate by calling 800 340-5266, or
706 634-7204 international, and referring to conference ID 4654295 and the
leader's name, Jennifer Olson-Goude.
Callers should dial in at least 15 minutes early to receive instructions.
A replay of the conference call will be available through Friday, January 9,
2004 by calling 800 642-1687, or 706 645-9291 international.
About U.S. Bancorp Piper Jaffray:
U.S. Bancorp Piper Jaffray, a subsidiary of the consolidated group of U.S.
Bancorp, is a focused securities firm comprised of two revenue-generating
segments: Capital Markets and Private Client Services. Clients of both
segments are supported by Investment Research. The firm provides a full range
of investment products and services to individuals, institutions and
businesses. The firm has over 126 offices in 25 states across the country.
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
This press release contains forward-looking statements. Statements that
are not historical or current facts, including statements about beliefs and
expectations, are forward-looking statements. These forward-looking
statements are subject to risks and uncertainties relating to the proposed
spin-off of the U.S. Bancorp Piper Jaffray business, including the impact of
the proposed spin-off on U.S. Bancorp's and the new company's results of
operations, the financial accounting consequences of the proposed transaction,
the impact of the spin-off on U.S. Bancorp's stock price and on its and the
new company's relationships with their respective customers and employees, the
tax consequences of the transaction to U.S. Bancorp, the new company and their
respective stockholders, changes in business climate or market conditions or
other factors which could make the proposed spin-off unadvisable. These
forward-looking statements involve other inherent risks and uncertainties, and
other important factors could cause actual results to differ materially from
those anticipated, including those contained in U.S. Bancorp's Form 10-K, in
Piper Jaffray Companies' Form 10 registration statement and in both companies'
other reports on file with the U.S. Securities and Exchange Commission.
Forward-looking statements speak only as of the date they are made, and each
of U.S. Bancorp and Piper Jaffray undertake no obligation to update them in
light of new information or future events.
Additional information is available upon request.
SOURCE U.S. Bancorp Piper Jaffray