Gleacher & Company Announces Extension of Wind Up Period

Gleacher & Company, Inc. GLCH (the "Company") announced today that the Delaware Chancery Court granted the Company an extension of the period during which the Company may wind up its affairs under Delaware General Corporation Law through December 31, 2018. As a condition of the extension, the Company must file with the Delaware Chancery Court a report explaining the status of its wind up process every six months until the wind up is completed. The actual wind up period for the Company may be shorter or longer than the period granted and, if additional time is needed to complete the wind up of the Company's affairs, the Company would need to seek an additional extension.

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 belief 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. 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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