Cowen Group, Inc. Announces Public Offering of Senior Notes

NEW YORK–(BUSINESS WIRE)–Oct. 1, 2014–
Cowen Group, Inc. (NASDAQ:COWN) (“Cowen” or the “Company”) today
announced that it is commencing an underwritten public offering of
senior notes due 2021. The Company intends to use a portion of the net
proceeds of the offering to capitalize a new commercial finance company
being formed by Cowen that would structure, underwrite and syndicate a
broad range of loans to middle market commercial borrowers. The
remainder of the net proceeds of the offering would be used for general
corporate purposes.

Sterne Agee, Janney Montgomery Scott and Cowen and Company are acting as
joint book-running managers, and Wunderlich Securities, Incapital, JMP
Securities
and Ladenburg Thalmann are serving as co-managers for the
offering.

This offering is being made only by the prospectus supplement and the
accompanying base prospectus related to the offering of the notes. The
notes will be issued pursuant to an effective shelf registration
statement previously filed on Form S-3 with the U.S. Securities and
Exchange Commission
. The preliminary prospectus supplement and the
accompanying base prospectus related to the offering have been filed
with the SEC and are available on the SEC’s website at www.sec.gov.
Copies of the preliminary prospectus supplement and the accompanying
base prospectus may also be obtained by contacting Sterne Agee at 277
Park Avenue
, 24th Floor, New York, New York 10172, 212-338-4708, syndicate@sterneagee.com
or Janney Montgomery Scott at 1717 Arch St, Philadelphia, PA 19103,
215-665-6170, preinhart@janney.com.

This press release does not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of these
securities in any state in which such offer, solicitation or sale would
be unlawful prior to registration or qualification under the securities
laws of any such state or jurisdiction.

About Cowen Group, Inc.

Cowen Group, Inc. is a diversified financial services firm and, together
with its consolidated subsidiaries, provides alternative asset
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 segment, while Cowen and Company and
its affiliates make up the Company’s broker-dealer segment. Ramius
provides alternative asset management solutions to a global client base
and manages a significant portion of Cowen’s proprietary capital. Cowen
and Company
and its affiliates offer 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 worldwide.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements. Forward-looking
statements provide the Company’s current expectations or forecasts of
future events. Forward-looking statements include statements about the
Company’s expectations, beliefs, plans, objectives, intentions,
assumptions and other statements that are not historical facts.
Forward-looking statements are subject to known and unknown risks and
uncertainties and are based on potentially inaccurate assumptions that
could cause actual results to differ materially from those expected or
implied by the forward-looking statements, including without limitation,
whether or not the Company will offer the notes or consummate the
offering, the anticipated terms of the notes and the offering, and the
anticipated use of the proceeds of the offering. The Company’s actual
results could differ materially from those anticipated in
forward-looking statements for many reasons, including the factors
described in the section entitled “Risk Factors” in the preliminary
prospectus supplement relating to the offering of the notes and in the
Company’s Annual Report on Form 10-K and “Management’s Discussion and
Analysis of Financial Condition and Results of Operations” in the
Company’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q,
as filed with the Securities and Exchange Commission. The Annual Report
on Form 10-K and Quarterly Reports on Form 10-Q are available at our
website at www.cowen.com
and at the Securities and Exchange Commission website at www.sec.gov.
Unless required by law, the Company undertakes no obligation to publicly
update or revise any forward-looking statement to reflect circumstances
or events after the date of this press release.

Source: Cowen Group, Inc.

Cowen Group, Inc.
Stephen Lasota, 212-845-7919

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