Gleacher & Company, Inc. (Nasdaq: GLCH) announced today that it has retained a financial advisor to assist it in exploring and evaluating strategic alternatives for the Company. In furtherance of the Company’s strategic plan, the Company intends to consider a range of available options, including partnering with one or more equity investors, strategic acquisitions and divestitures, and a business combination involving the Company. The Company has not made any decision to engage in any specific alternative at this time, and the exploration of strategic alternatives may not result in any specific action or transaction. The Company continues to implement and make progress on its strategic operating plan, as demonstrated by, among other actions, previously announced strategic organizational changes and the hiring of seasoned senior management professionals. The Company does not intend to provide updates or make any further comment regarding its exploration and evaluation of strategic alternatives unless a specific transaction, if any, is approved or disclosure is otherwise required. 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 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. The Company’s forward-looking statements are subject to various risks and uncertainties, including the conditions of the securities markets, generally, and demand for the Company’s services within those markets 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. 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.