Gleacher is authorized to repurchase additional shares of its common stock from time to time pursuant to the stock repurchase program authorized by the Board of Directors of Gleacher. Gleacher’s stock repurchase program may be modified or terminated by Gleacher’s Board of Directors at any time. Pursuant to Rule 13e-4(f) of the Securities Exchange Act of 1934, as amended, no additional repurchases by Gleacher of shares of its common stock may be made prior to December 8, 2011.The information agent for the tender offer is MacKenzie Partners, Inc.; the depositary is American Stock Transfer & Trust Company, LLC; and the dealer manager is Gleacher & Company Securities, Inc. For questions and information, please call the information agent toll free at (800) 322-2885. About Gleacher & Company, Inc. Gleacher & Company, Inc. (Nasdaq: GLCH) is an independent investment bank that provides corporate and institutional clients with strategic and financial advisory services, including merger and acquisition, restructuring, recapitalization, and strategic alternative analysis, as well as capital raising, research based investment analysis, and securities brokerage services, and, through a new subsidiary, engages in residential mortgage lending. For more information, please visit www.gleacher.com. Forward-Looking Statements This press release may contain “forward-looking statements.” These statements are not historical facts but instead represent the beliefs of Gleacher regarding future events, many of which, by their nature, are inherently uncertain and outside of Gleacher’s control. Gleacher undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, statements regarding the number of shares tendered pursuant to notices of guaranteed delivery that are in fact delivered within the applicable settlement period, the preliminary figures set forth in this press release including with respect to the tender offer purchase price, the number of shares to be purchased, the timeframes for verification and announcement of final results, payment for tendered shares and receipt of shares tendered pursuant to notices of guaranteed delivery, and other risks and factors identified from time to time in Gleacher’s filings with the Securities and Exchange Commission. You are cautioned not to place undue reliance on any forward-looking statements contained in this press release.