2008-06-04 23:54:26 -

- Rodman & Renshaw Capital Group, Inc. (NASDAQ: RODM), today announced that Ramnarain "Joe" Jaigobind has joined Rodman as Head of Global Capital Markets and President of Middle East, India and Japan markets. Mr. Jaigobind joins Rodman from Maxim Group with a team of eight professionals, significantly strengthening Rodman's Global Capital Markets practice.

Mr. Jaigobind has significant experience in the public equity markets. He will spearhead Rodman's initiatives to expand its origination and distribution of initial and secondary public offerings and its participation in syndicated public offerings led by other firms. These enhanced capabilities will complement Rodman's #1 ranked position in PIPE offerings(1), by both broadening the range of capital markets options available to its corporate clients and expanding

its investor client base.

Mr. Jaigobind's Wall Street career spans over seventeen years. Prior to joining Rodman, Mr. Jaigobind was Executive Managing Director of Global Equity Capital Markets and President of Middle East, India and Japan at Maxim Group LLC. Before that, he served as Senior Vice President at Investec Ernst and Co. Mr. Jaigobind has worked on over 300 transactions in the last five years as Lead or Co-Lead Manager or syndicate member, raising in excess of US$50 billion. Mr. Jaigobind also serves as a member of the Board or Directors of the US-Pakistan Business Council and as a Chairman's Circle Member of the US-India Business Council.

Michael Lacovara, Chief Executive Officer of Rodman & Renshaw commented: "We are delighted to add Joe to the Rodman team. His experience in origination, execution and distribution of public offerings will greatly enhance our capital markets capabilities and enables us to build on our leadership position in PIPE transactions, both domestically and throughout the world."

About Rodman & Renshaw Capital Group, Inc.

Rodman & Renshaw Capital Group, Inc. is a holding company with a number of direct and indirect subsidiaries, including Rodman & Renshaw, LLC, Rodman Principal Investments, LLC and Miller Mathis & Co.

Rodman & Renshaw, LLC is a full service investment bank dedicated to providing investment banking services to companies that have significant recurring capital needs due to their growth and development strategies, along with research, sales and trading services to institutional investor clients that focus on such companies. Rodman is a leading investment banking firm to the biotechnology sector, a capital intensive market segment, as well as a leader in the PIPE (private investment in public equity) and RD (registered direct placements) transactions markets.

MEMBER FINRA, SIPC

Cautionary Note Regarding Forward Looking Statements

This press release contains forward-looking statements regarding future events and financial performance. In some cases, you can identify these statements by words such as "may," "might," "will," "should," "except," "plan," "intend," "anticipate," "believe," "estimate," "predict," "potential," or "continue," the negative of these terms and other comparable terminology. These statements involve a number of risks and uncertainties and are based on numerous assumptions involving judgments with respect to future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the Company's control. There are or may be important factors that could cause our actual results to materially differ from our historical results or from any future results expressed or implied by such forward looking statements. These factors include, but are not limited to, those discussed under the section entitled "Risk Factors" in our Annual Report on Form 10-K, filed March 14, 2008, which is available at the Securities and Exchange Commission website at www.sec.gov. The forward-looking statements in this press release are based upon management's reasonable belief as of the date hereof. The Company undertakes no obligation to revise or update publicly any forward-looking statements for any reason.

(1) Rodman & Renshaw Capital Group, Inc maintained its leading position in PIPE transaction deal volume in PlacementTracker's First Quarter 2008 PIPE Market League Tables, published by Sagient Research Systems. During the first quarter of 2008 Rodman completed 11 transactions raising a total of $135.6 million.

Financial Dynamics
Julie Prozeller / Hannah Sloane
212-850-5600