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Cowen Announces New Hire to China Health Care Research Team

Katherine Lu Named Managing Director

NEW YORK, Mar 21, 2011 (BUSINESS WIRE) —

Cowen Group, Inc. (“Cowen”) (NASDAQ: COWN) today announced that
Katherine Lu to has joined the firm’s China Health Care Research team as
a Managing Director. Ms. Lu will be based in New York and report to
Barry Tarasoff, Director of Research at Cowen and Company.

“We are pleased to welcome Katherine to Cowen,” said Barry Tarasoff.
“Katherine was one of the first analysts to initiate coverage of Chinese
Health Care American Depository Receipts, and we are pleased to add
depth to our leading industry coverage and experienced healthcare team.
We look forward to the leadership she will bring to the coverage of this
important and growing sector.”

Ms. Lu joins Cowen from Oppenheimer & Co. where she was a Managing
Director and Head of China Equity Research. While at Oppenheimer, Ms. Lu
focused on a range of Chinese companies in the healthcare, food and
dairy, specialty chemicals and insurance sectors. Prior to this, Ms. Lu
was an Equity Research Associate and member of Cowen’s MedTech team,
where she covered the U.S. medical device industry. Ms. Lu has worked in
health care consulting at Bogart Delafield Ferrier and has industry
experience from her time at Johnson & Johnson Pharmaceutical and Roche

Ms. Lu received her B.S. from Nanjing University in Chemistry and an
M.S. in Organic Chemistry from Iowa State University. She also holds an
MBA in Finance and Accounting from NYU.

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