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Press ReleaseSource: Sagient Research Systems
 
PlacementTracker Publishes Q1 2005 PIPE Market League Tables
Tuesday April 19, 8:00 am ET
 

SAN DIEGO, April 19, 2005 (PRIMEZONE) -- Sagient Research Systems (OTC BB:SRYS.OB - News), a leading publisher of independent research for the financial services and institutional investment communities, today announced that J.P. Morgan Chase & Co. ranked as the No. 1 investment bank in the PIPE market in the first quarter 2005 for total dollars raised and that Rodman & Renshaw LLC ranked as the No. 1 investment bank in the PIPE market in for total number of transactions. LH Financial Services topped the list of most active institutional investors during the first quarter 2005.

PlacementTracker, a flagship product of Sagient Research Systems, is well recognized as the leading provider of research, data, and analytics covering the PIPE market.

Commenting on the League Tables, Robert F. Kyle, executive vice president of Sagient Research said, ``The first quarter of 2005 was another robust period for PIPE market activity. During the quarter we recorded 322 transactions totaling $6.03 billion in equity and equity-linked capital raised (excluding Structured Equity Lines and Canadian domiciled issuers). While the transaction count was down 20% from the first quarter of 2004, the total amount raised increased 20% over the first quarter of 2004. We can attribute this dichotomy to a number of large PIPE deals that closed in the first quarter. We believe that these large PIPE transactions indicate a growing trend of larger public companies accepting the PIPE market as a viable source of capital. As always, we congratulate all of the active agents and investors in the PIPE market for a tremendous first quarter, especially those leaders who topped the League Tables. Many of these firms are long-time clients of PlacementTracker, and we look forward to continuing to provide them with industry leading data, research, and analytics to help keep them on top of this market.''

Mr. Kyle added, ``PlacementTracker has recently been made aware that a certain PIPE market participant has issued a press release claiming a certain ranking in our League Table. Such release was issued without PlacementTracker's prior knowledge or consent. It was also issued prior to our completion of the official quarterly PIPE Market League Tables and, therefore, contains information that we believe is misleading. We advise all PIPE market participants and other interested parties to refer only to our quarterly press releases for PlacementTracker's official PIPE Market League Tables.''

PlacementTracker's dynamically updating League Tables are available online at: http://www.sagientresearch.com/pt/leaguetables.cfm.


             The Q1 2005 PIPE Market Investment Banking League Table
             -------------------------------------------------------
                           By Dollar Amount Raised:
                           ------------------------

 Placement Agent Name        Transaction Count    Total Amount Raised
 --------------------        -----------------    -------------------
 J.P. Morgan Chase & Co.            3               $   171,637,499
 Merriman Curhan Ford & Co.         4               $   133,802,508
 Rodman & Renshaw, LLC              9               $   127,933,334
 Cantor Fitzgerald & Company        1               $   123,879,000
 Hibernia Southcoast Capital        1               $   123,879,000
 SG Cowen & Co., LLC                5               $    96,048,848
 Roth Capital Partners, LLC         6               $    95,959,991
 Sanders Morris Harris, Inc.        2               $    92,625,000
 Credit Suisse First Boston          
  Corp.                             1               $    91,000,000
 Jefferies & Co., Inc.              1               $    87,802,500
 C.E. Unterberg, Towbin             4               $    79,222,000
 RBC Capital Markets, Inc.          3               $    78,904,416
 Cascadia Capital                   1               $    64,999,992
 CIBC World Markets                 2               $    64,000,000
 Needham & Company, Inc.            2               $    60,000,002
 Wells Fargo Securities, LLC        2               $    56,600,000
 Leerink Swann & Co.                2               $    56,425,000
 Harris Nesbitt Corp.               2               $    52,992,187
 Lehman Brothers, Inc.              1               $    52,185,000
 UBS Investment Bank                1               $    52,185,000
 Stephens, Inc.                     1               $    42,625,000
 WR Hambrecht + Co., LLC            1               $    40,500,000
 Intermarket Management LLC         1               $    40,500,000
 Southwest Securities, Inc.         1               $    40,500,000
 Piper Jaffray & Co.                1               $    40,000,000


   Investment Banking rankings exclude all Equity Line of Credit 
   transactions and all PIPE transactions conducted by Canadian 
   domiciled issuers. On transactions where an investment banking 
   firm has acted solely as Financial Advisor, that transaction has 
   been excluded from that firm's ranking. Co-agented transactions 
   award full transaction credit to all agents participating 
   (regardless of status of lead agent or co-agent). Data is as
   reported as of 4/18/05.


         The Q1 2005 PIPE Market Investment Banking League Table 
         -------------------------------------------------------
                      By Number of Transactions:
                      --------------------------

 Placement Agent Name        Transaction Count    Total Amount Raised
 --------------------        -----------------    ------------------- 
 Rodman & Renshaw, LLC              9               $   127,933,334
 Roth Capital Partners, LLC         6               $    95,959,991
 SG Cowen & Co., LLC                5               $    96,048,848
 Griffin Securities, Inc.           5               $    33,096,794
 Merriman Curhan Ford & Co.         4               $   133,802,508
 C.E. Unterberg, Towbin             4               $    79,222,000
 Duncan Capital, LLC                4               $    17,950,000
 J.P. Morgan Chase & Co.            3               $   171,637,499
 RBC Capital Markets, Inc.          3               $    78,904,416
 Midtown Partners & Co., LLC        3               $    30,996,428
 Maxim Group, LLC                   3               $    27,700,061
 HPC Capital Management             3               $    26,094,392
 Stonegate Securities, Inc.         3               $    22,970,000
 H.C. Wainwright & Co. Inc.         3               $    13,825,000
 Laidlaw & Company, Ltd.            3               $     8,050,000
 Source Capital Group               3               $     7,500,000
 Westor OnLine, Inc.                3               $     3,859,500
 Sanders Morris Harris, Inc.        2               $    92,625,000
 CIBC World Markets                 2               $    64,000,000
 Needham & Company, Inc.            2               $    60,000,002
 Wells Fargo Securities, LLC        2               $    56,600,000
 Leerink Swann & Co.                2               $    56,425,000
 Harris Nesbitt Corp.               2               $    52,992,187
 Punk, Ziegel & Company             2               $    35,489,997
 Legend Merchant Group, Inc.        2               $    33,405,097

 Investment Banking rankings exclude all Equity Line of Credit
 transactions and all PIPE transactions conducted by Canadian 
 domiciled issuers. On transactions where an investment banking 
 firm has acted solely as Financial Advisor, that transaction has 
 been excluded from that firm's ranking. Co-agented transactions 
 award full transaction credit to all agents participating 
 (regardless of status of lead agent or co-agent). Data is as 
 reported as of 4/18/05.


       The Q1 2005 PIPE Market Institutional Investor League Table
       -----------------------------------------------------------
                       By Number of Transactions:
                       --------------------------

 Investor Name               Transaction Count   Total Amount Invested
 -------------               -----------------   ---------------------
 LH Financial Services 
  Corporation                       19            $        7,901,422
 Atoll Asset Management, 
  LLC                               18            $       20,246,718
 Highbridge International, 
  LLC                               17            $       63,647,848
 Laurus Family of Funds             17            $       52,050,000
 Vertical Ventures 
  Investments, LLC                  17            $       20,014,848
 Titan Capital Management           17            $        2,941,700
 Omicron Capital, L.P.              15            $       10,192,856
 Downsview Capital, Inc.            14            $        9,949,860
 Canaccord Capital 
  Corporation                       14            $        4,975,000
 Staro Asset Management, LLC        13            $       22,880,276
 Ramius Capital Group, LLC          13            $       17,275,352
 Nite Capital Management, 
  LLC                               13            $        3,915,004
 GreenLight (Switzerland) SA        12            $        5,716,080
 Basso Capital Management, 
  L.P.                              11            $       10,119,483
 DKR Management Company, Inc.       10            $        6,323,064
 Andrew Carter Capital, Inc.        10            $        4,374,003
 Enable Growth Partners, L.P.       10            $        2,898,500
 JGB Capital Management, Inc.        9            $        9,240,002
 Bristol Capital Advisors, 
  LLC                                9            $        4,323,134
 NIR Group, LLC                      8            $       13,450,000
 Bluegrass Growth Fund 
  Partners, LLC                      8            $        3,288,952
 Kingsport Capital Partners, 
  LLC                                7            $       14,771,250
 Heights Capital Management, 
  Inc.                               7            $        8,786,274
 Alexandra Investment 
  Management                         6            $       20,635,000
 Gryphon Partners, L.P.              6            $        9,111,797

 Investor rankings exclude all Equity Line of Credit transactions and 
 all PIPE transactions conducted by Canadian domiciled issuers.  
 Investors classified as Corporate Investors and Insurance Companies
 have been excluded from this ranking.  Data is as reported as of 
 4/18/05.

About Sagient Research Systems

Sagient Research Systems is a publisher of independent research. We develop, produce, and sell proprietary research products to mutual funds, hedge funds, and investment banks. Our business strategy is to continue to leverage our development, technology, and marketing expertise to solidify our position as a leading provider of independent research to the financial services and institutional investment communities. For more information, please visit the Sagient Research Systems website at http://www.sagientresearch.com/.

Safe Harbor Statement

Statements in this press release that are not statements of historical or current fact constitute ``forward-looking statements'' within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties, and other unknown factors that could cause the actual results of the Company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms ``believes,'' ``belief,'' ``expects,'' ``intends,'' ``anticipates,'' ``will,'' or ``plans'' to be uncertain and forward-looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company's reports and registration statements filed with the Securities and Exchange Commission.

Contact:
          Sagient Research Systems
          Brian Overstreet
          (858) 200-2350
          bmo@sagientresearch.com

Source: Sagient Research Systems