Gleacher & Company Announces Exploration of Strategic Alternatives

Gleacher & Company, Inc.

announced today that it has retained a financial advisor to assist it in exploring and evaluating strategic alternatives for the Company. In furtherance of the Company's strategic plan, the Company intends to consider a range of available options, including partnering with one or more equity investors, strategic acquisitions and divestitures, and a business combination involving the Company. The Company has not made any decision to engage in any specific alternative at this time, and the exploration of strategic alternatives may not result in any specific action or transaction. The Company continues to implement and make progress on its strategic operating plan, as demonstrated by, among other actions, previously announced strategic organizational changes and the hiring of