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Gleacher & Company Retains Blackstone To Assist With Strategic Alternatives

Gleacher & Company, Inc. (Nasdaq: GLCH) today announced that it has retained Blackstone Advisory Partners L.P. ("Blackstone") to provide financial advisory services in connection with potential transactions. Under the terms of the engagement letter, Blackstone will work with the Company to consider potential mergers, acquisitions or other business combinations.

There can be no assurance that any transaction will occur or if so, on what terms.

Blackstone is one of the world's leading investment and advisory firms. It provides financial and strategic advisory, restructuring and reorganization advisory and fund placement services. Since the firm's inception, Blackstone has advised clients on M&A deals representing over $495 billion in value and restructuring assignments involving approximately $1.1 trillion of total liabilities.

About Gleacher & Company

Gleacher & Company, Inc. (Nasdaq: GLCH) is incorporated under the laws of the State of Delaware. The Company’s common stock is traded on The NASDAQ Global Market under the symbol “GLCH.”

Forward-Looking Statements

This press release contains “forward-looking statements.” These statements are not historical facts but instead represent the Company’s belief regarding future events, many of which, by their nature, are inherently uncertain and outside of the Company’s control. These statements include the expectations regarding the Company’s restructuring process. The Company’s forward-looking statements are subject to various risks and uncertainties, including uncertainties regarding the Company’s restructuring and other risks and factors identified from time to time in the Company’s filings with the Securities and Exchange Commission. It is possible that the Company’s actual results and financial condition may differ, possibly materially, from the anticipated results and financial condition indicated in its forward-looking statements. In particular, there can be no assurance that the Company will engage in a transaction or as to the terms of a transaction, should one be completed. You are cautioned not to place undue reliance on any forward-looking statements. The Company does not undertake to update any of its forward-looking statements.

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