Cowen Group Completes Acquisition of KDC Securities

NEW YORK–(BUSINESS WIRE)–Nov. 5, 2012–
Cowen Group, Inc. (NASDAQ: COWN) today announced that it completed its
previously announced acquisition of KDC Securities, a securities lending
business. The transaction was completed on November 1, 2012.

Financial terms of the transaction were not disclosed.

About Cowen Group, Inc.

Cowen Group, Inc. is a diversified financial services firm and, together
with its consolidated subsidiaries, provides alternative investment
management, investment banking, research, and sales and trading services
through its two business segments: Ramius and its affiliates make up the
Company’s alternative investment management segment, while Cowen and
Company is its broker-dealer segment. Its alternative investment
management products, solutions and services include hedge funds,
replication products, managed futures funds, fund of funds, real estate,
health care royalty funds and cash management services. 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 world.

Source: Cowen Group, Inc.

Sard Verbinnen & Co
Dan Gagnier/Carissa Ramirez
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