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Rodman & Renshaw Announces Implementation Plan For Name Change To Direct Markets Holdings Corp., New Business Strategy And Board Changes

Rodman & Renshaw Capital Group, Inc. (NASDAQ: RODM) (the “Company”) today announced the following business and strategic developments.

The Company intends to effect its name change to Direct Markets Holdings Corp. on June 1, 2012. The Company expects to begin trading on NASDAQ under a new ticker symbol, “MKTS”, as soon as practicable thereafter. The Company first announced its intent to change its corporate name in conjunction with the introduction of the DirectMarkets platform in February of this year and this change was approved by stockholders at the Company’s May 4, 2012 annual meeting of stockholders.

When the Company unveiled DirectMarkets at the Trade Tech 2012 Conference in March, it intended for Rodman & Renshaw, LLC, the Company’s broker-dealer affiliate, to be the only investment bank to effect securities transactions utilizing the platform. Following the introduction of the DirectMarkets platform, multiple potential users and strategic partners expressed their excitement and interest regarding the DirectMarkets initiative. However, the Company also received largely uniform feedback that the DirectMarkets platform should be available for all investment banks to use to service their issuer and investor clients, and that limiting it to any one investment bank would inhibit the widespread adoption of the DirectMarkets platform.

Following a careful review of its strategy and business model for the DirectMarkets platform, the Company has determined that making the platform “broker-neutral” and allowing public companies to select the investment bank of their choice to effect their securities transactions on the platform will maximize the potential of the DirectMarkets business. The Company has also concluded that remaining affiliated with one specific investment bank will hinder its ability to implement the “broker-neutral” strategy and will limit the commercialization of the DirectMarkets platform. As a result of this strategic shift, the Company’s principal business moving forward will focus on developing financial technology applications and operating the DirectMarkets platform, which the Company believes will over time generate greater value for its stockholders than its legacy investment banking focused business strategy.

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