Gleacher & Company Announces Third Liquidating Distribution and Provides Other Updates

NEW YORK--(BUSINESS WIRE)--

Gleacher & Company, Inc. (OTC Pink: GLCH) (the "Company") announced today that the Board has determined to make a third liquidating distribution to Company stockholders in the amount of $4.00 per share of the Company's common stock (approximately $24.7 million in the aggregate). The record date for this distribution is October 12, 2015. The Company anticipates that the payment date will be on or about October 23, 2015.

Total liquidating distributions, including this third distribution, since the filing of the Company's Certificate of Dissolution in July 2014 amount to $8.55 per share of the Company's common stock (approximately $52.9 million in the aggregate).

The Company also announced today that it has posted updates to its website, including financial information. The Company's website can be found at the following address: www.gleacher.com.

About Gleacher & Company

Gleacher & Company, Inc. is a dissolved corporation under the laws of the State of Delaware.

Forward-looking statements

This press release contains "forward-looking statements." These statements are not historical facts but instead represent the Company's beliefs or plans regarding future events, many of which, by their nature, are inherently uncertain and outside of the Company's control. The Company's forward-looking statements involve known and unknown risks, uncertainties and other important factors, including the risks and other factors identified herein, on the Company's website and in other public disclosures made by the Company from time to time. As a result, the Company's actual actions, performance or achievements or results may differ materially from those expressed or implied by these forward-looking statements. Forward-looking statements include, without limitation: statements regarding the dissolution and liquidation of the Company, including the Company's expectations with regard to liquidating distributions; and the Company's estimated range of aggregate recoveries from the liquidation. Although the Company believes that the expectations reflected in any forward-looking statements are reasonable, it cannot guarantee future events or results. Except as may be required under federal law, the Company undertakes no obligation to update any forward-looking statements for any reason, even if new information becomes available or other events occur.

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