Press Release

December 15, 2008

RAYMOND JAMES SETS RECORD STRAIGHT
ON MADOFF FUNDS REPORT

ST. PETERSBURG, Fla. – In response to an erroneous news report on CNBC Friday evening, Dec. 12, which reported that Raymond James Financial (NYSE-RJF) had actively marketed funds from Madoff Investment Securities, the firm today clarified that it has no history of marketing Madoff Investment Securities and otherwise no known exposure to the scheme.

The firm has requested an update to the CNBC website, as well as a retraction on the television broadcast.

About Raymond James Financial
Raymond James Financial (NYSE-RJF) is a Florida-based diversified holding company providing financial services to individuals, corporations and municipalities through its subsidiary companies. Its three principal wholly owned broker/dealers (Raymond James & Associates, Raymond James Financial Services and Raymond James Ltd.) and Raymond James Investment Services Limited, a majority-owned independent contractor subsidiary in the United Kingdom, have a total of more than 5,000 financial advisors serving approximately 1.8 million accounts in 2,200 locations throughout the United States, Canada and overseas. In addition, total client assets are currently $174 billion, of which approximately $29 billion are managed by the firm’s asset management subsidiaries.

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For more information, contact Anthea Penrose at 727-567-2824.
Please visit the Raymond James Press Center at raymondjames.com/media.