1. Value of Mentoring Programs Kara Hayne December 15, 2005 MBC Presentation

2. Capital Markets Mentoring Program Eight month program Creates partnerships Monthly meetings Mentee exposure Overall goal: to foster a mentoring culture within Piper Jaffray to enhance “people investing in people”

3. Program Objectives Enhance relationships between departments Improve mentee’s understanding of career options within the firm Increase understanding and awareness of the Capital Markets and Research Business lines

4. Research Question Are the objectives of the Capital Markets Mentoring Program being met?

5. Methodology Survey 69 Piper Jaffray participants mentors, mentees, and management Distributed via e-mail 20 questions 15 close-ended 5 open-ended

6. Response 32 surveys completed 22 mentees 10 mentors 0 management 46% response rate

7. Enhances Relationships Do you feel this program enhances relationships between Capital Markets and other Business Lines within Piper Jaffray? 88% strongly agree or agree

8. Future Opportunities Has your participation in this program affected your view of future opportunities within the organization? 73% of mentees strongly agree or agree

9. Increases Understanding Do you feel this program helps increase the understanding and awareness of Capital Markets? 94% strongly agree or agree

10. Increases Understanding Do you feel this program helps increase the understanding and awareness of the Research Department? 66% strongly agree or agree

11. Best Complement Would you recommend this program to other employees within Piper Jaffray (Yes or No)? 94% responded yes

12. Research Question Are the objectives of the Capital Markets Mentoring Program being met? Yes

13. Recommendations Maintain mentoring program Re-examine the approach used to increase understanding and awareness of Research Department

14. Conclusion Employees benefited Results were positive Objectives were met Supports Piper Jaffray’s vision