Cowen Group to Acquire Dahlman Rose

Cowen Group, Inc.

(“Cowen” or “the Company”) and Dahlman Rose & Company, LLC (“Dahlman Rose”) today announced the signing of a definitive agreement under which Cowen will acquire Dahlman Rose, a privately-held investment bank specializing in the energy, metals and mining, transportation, chemicals and agriculture sectors. This acquisition is an all-stock transaction and financial terms of the deal were not disclosed. The definitive agreement was approved by the board of directors of both companies. Peter A. Cohen, Chairman and CEO of Cowen Group said, “Dahlman Rose's expertise in energy, transportation, metals and mining, chemicals and agriculture is a strong complement to Cowen core sectors of health care, technology, media, telecommunications, consumer, aerospace and