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Sichenzia Ross Friedman Ference LLP First in the Nation in PIPEs Transactions For The Year End 2004

New York, NY- February 3, 2005- Sichenzia Ross Friedman Ference LLP advised more issuers on private investment in public equity (PIPE) placements in 2004 than any other law firm nationwide, according to The PIPEs Report 2004 Year in Review (01/15/2005). In 2004, Sichenzia Ross Friedman Ference advised 39 issuers on PIPE placements- nearly double any other law firm, with a total value of more than $154.95 million.

According to the report, the PIPE market expanded and matured in 2004, with 1,713 transactions having been consummated, representing a 30% increase over the 1,327 deals closed in 2003. Of these deals, 91%, or 1,542 transactions, were completed in companies with market caps of less than $250 million, and in excess of 75%, or 1,216 transactions, were completed in companies with market caps of less than $100 million. These statistics demonstrate that PIPEs financing have become the mainstay of small capitalization companies. Sichenzia Ross Friedman Ference LLP, which represents more than 75 companies in this market sector, filed more than 70 registration statements for clients in 2004 and has one of the most active securities departments in the United States – a position which sealed this #1 ranking.

“This firm’s leadership in the PIPEs market is largely attributable to the depth and breadth of our public company client base, which has a constant need for capital to execute their business plans, as well as the expeditious and effective manner in which the firm handles these transactions and the subsequent registration statements,” said Thomas Rose, managing partner of the Firms securities practice. “Investors are sitting on a lot of money and see attractive valuations for these companies that have been ignored by other more traditional sources of capital. This form of financing is also relatively fast, efficient and attractive to the issuer as well. There were $20 billion dollars in PIPEs transactions in 2004 and from what we’re seeing, there’s every reason to be optimistic about the industry’s growth as we move into the new year.”

The Firm, which is a Premier Sponsor for The 4th Annual Industry Summit on PIPEs to be held on February 28, 2005 at The Princeton Club, will be sponsoring a Q&A panel discussion on February 28, 2005 at 4:00 p.m. regarding Investing in Micro Cap companies.

About Sichenzia Ross Friedman Ference LLP
Sichenzia Ross Friedman Ference LLP provides experienced professional representation in all matters involving the securities industry as well as general corporate and litigation matters. Our clients range from start-ups to established, listed companies. They include private and public corporations, partnerships, broker-dealers, bank-affiliated broker-dealers, investment advisors, registered personnel, public and corporate customers and investors, partnerships and other entities. We also advise institutional investors on transactions involving complex securities law considerations. Our areas of expertise include corporate and commercial transactions, securities litigation, and arbitration, administrative practice before regulatory agencies, mergers and acquisitions and broker-dealer regulation. For additional information about Sichenzia Ross Friedman Ference’s nationally ranked PIPEs practice, go to www.srff.com.

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