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Cowen Adds to Health Care Investment Banking Team

George Milstein and Chris Swindle Named Managing Directors

NEW YORK, Mar 28, 2011 (BUSINESS WIRE) —

Cowen Group, Inc. (“Cowen”) (NASDAQ: COWN) today announced that George
Milstein and Chris Swindle have joined the firm’s Health Care Investment
Banking group. Based in San Francisco, both Mr. Milstein and Mr. Swindle
have joined as Managing Directors and will report to Jeff Solomon, Chief
Operating Officer and Head of Investment Banking.

“We are delighted to have George and Chris join Cowen’s team,” commented
Jeff Solomon. “Both of these professionals bring dynamic execution
strategies and finance raising expertise that will strengthen Cowen’s
Investment Banking business and will certainly bolster the firm’s
already formidable Health Care banking platform. We expect that George’s
and Chris’ knowledge, experience and relationships will make an
immediate contribution to Cowen.”

Mr. Milstein joins Cowen from Wedbush Pacific Growth, where he was a
Managing Director responsible for origination and execution of M&A and
equity transactions in Health Care. Previously, Mr. Milstein was Head of
Investment Banking and a member of the Executive Committee for Pacific
Growth Equities. Prior to his experience at Pacific Growth Equities, he
was with Robertson, Stephens & Company. Mr. Milstein is a graduate of
the University of Southern California and holds a J.D. from the
University of Arizona.

Mr. Swindle joins Cowen from Wedbush Pacific Growth Life Sciences where
he was Managing Director and Head of Health Care Investment Banking.
Previously, he was a Managing Director at Pacific Growth Equities
focused exclusively on emerging and specialty pharmaceuticals banking
efforts. Prior to that role, Mr. Swindle was at Jeffries & Company, Inc.
and Leucadia National Corporation. Mr. Swindle holds a B.A. from the
University of California, Berkeley.

About Cowen Group, Inc.

Cowen Group, Inc. is a leading diversified financial services firm
providing alternative investment management, investment banking,
research, and sales and trading services through its business units,
Ramius and Cowen and Company. Its alternative investment management
products include hedge funds, fund of funds, real estate funds,
healthcare royalty funds, cash management and commodity trading funds,
offered primarily under the Ramius name. Cowen and Company offers
industry focused investment banking for growth-oriented companies,
domain knowledge-driven research and a sales and trading platform for
institutional investors. Founded in 1918, the firm is headquartered in
New York and has offices located in major financial centers around the

SOURCE: Cowen Group, Inc.

Cowen Group, Inc.
Peter Poillon, 646-562-1983
Director of Communications