Stifel Financial Completes Acquisition of Stone & Youngberg

ST. LOUIS, MO--(Marketwire - Oct 3, 2011) - Stifel Financial Corp. (NYSE: SF) today announced the completion of the acquisition of Stone & Youngberg LLC ("Stone & Youngberg"), a leading financial services firm specializing in municipal finance and fixed income securities. Through this acquisition, Stifel expands its public finance operations into markets in which it previously did not have a presence, namely California and Arizona. Stone & Youngberg's success is supported by its #1 ranking by number of issues and #2 ranking by par value in California bond underwritings in 2011 year-to-date, according to Thomson Reuters. On a combined basis, the Municipal Finance Group has approximately 180 professionals dedicated to public finance, sales, trading, and underwriting municipal securities.

Stifel's acquisition of Stone & Youngberg is highly complementary to its existing business, as it adds to the firm's national private client business. Stifel's private clients will gain increased access to municipal offerings while the combined platform will benefit from greater investment opportunities and market-making activities.

Ken Williams, President and Chief Executive Officer of Stone & Youngberg, will run the Municipal Finance Group. Stifel intends to utilize the Stone & Youngberg brand as a division of Stifel Nicolaus in the markets currently served by Stone & Youngberg.

"We are excited to welcome Ken and his team of talented partners. Stone & Youngberg is a leading firm in its markets, and we believe this strategic acquisition of a premier public finance and fixed income investment bank fits perfectly with our goal of expanding our client offerings through an even more robust platform," commented Ronald J. Kruszewski, Chairman, President, and Chief Executive Officer of Stifel Financial.

Company Information
Stifel Financial Corp. (NYSE: SF) is a financial services holding company headquartered in St. Louis, Missouri that conducts its banking, securities, and financial services business through several wholly owned subsidiaries. Stifel clients are primarily served in the U.S. through 312 offices in 44 states and the District of Columbia through Stifel, Nicolaus & Company, Incorporated and Thomas Weisel Partners LLC, and in Canada through Stifel Nicolaus Canada Inc. Clients in the United Kingdom and Europe are served through offices of Stifel Nicolaus Europe Limited. Each of the broker-dealer affiliates provides securities brokerage, investment banking, trading, investment advisory, and related financial services to individual investors, professional money managers, businesses, and municipalities. Stifel Bank & Trust offers a full range of consumer and commercial lending solutions. To learn more about Stifel, please visit the company's web site at www.stifel.com.

Cautionary Note Regarding Forward-Looking Statements
This press release contains certain statements that may be deemed to be "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements in this report not dealing with historical results are forward-looking and are based on various assumptions. The forward-looking statements in this report are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in or implied by the statements. The material factors and assumptions that could cause actual results to differ materially from current expectations include, without limitation, the following: the effect of the announcement of the strategic acquisition on the Company's or Stone & Youngberg's respective business relationships and business generally, or the possibility that the anticipated benefits of the strategic acquisition will not be realized, or will not be realized within the expected time period. The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made. The Company disclaims any intent or obligation to update these forward-looking statements.