Market Overview

Gleacher & Company Announces Extension of Wind Up Period

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Gleacher & Company, Inc. (OTC: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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