Ramius LLC, (“Ramius”) the global investment management business of Cowen Group, Inc. (“Cowen”) (NASDAQ: COWN), today announced the launch of the Ramius Event Driven Equity Fund (Ticker: REDIX, REDAX) (“the Fund”), an actively managed alternative mutual fund providing investors with daily liquidity and exposure to a broad spectrum of transformative corporate events. The strategy focuses on publicly listed companies that are targets of shareholder activism, mergers, spin-offs, recapitalizations and restructurings. Co-portfolio managers Andrew Cohen and Ethan Johnson oversee investments in the Fund. Michael Singer, Chief Executive Officer of Ramius, said, “The Ramius Event Driven Equity Fund is a truly differentiated product, offering investors the chance to diversify their portfolios by accessing equity event strategies in a liquid format. For years, many sophisticated institutional investors have benefited from the success of best-in-breed activists and from investments in public company securities undergoing corporate events. Today, we are bringing this opportunity to a much broader range of investors. This launch demonstrates Ramius’ commitment to developing and offering creative solutions that have the potential to meet the specific needs of investors by utilizing the breadth of our alternative asset management capabilities.” Together, Andrew Cohen and Ethan Johnson said, “We are very excited to launch this Fund with the full institutional support and know-how of Ramius. We believe the Ramius Event Driven Equity Fund is the only single advisor mutual fund investing directly in activism and transformative corporate events. We look forward to drawing on our years of experience investing in activist and event driven situations at Ramius. We are seeking to capture the enhancement in shareholder value created by corporate events. Our strategy offers investors the opportunity to pursue attractive risk-adjusted returns relative to the broader equity markets.” The Fund will be managed by Ramius Advisors LLC, a wholly-owned subsidiary of Ramius. For more information, please see www.ramiusmutualfunds.com/event. About Andrew Cohen Mr. Cohen is the Lead Portfolio Manager of the Fund and is a Managing Director of Ramius LLC. Mr. Cohen joined Ramius in 2001 and is responsible for the firm’s fundamental proprietary investments in public equity related strategies. He is also the risk manager for the Ramius Merger Fund LLC, a merger arbitrage hedge fund. Since joining Ramius in 2001, Mr. Cohen has served in a number of different capacities, including working with Ramius’ US Small Cap Value Fund, managing a mezzanine and senior secured lending vehicle, working with the Ramius distressed investing team, and overseeing much of Ramius’ energy investments. Prior to joining Ramius in 2001, Mr. Cohen worked as an analyst in the investment banking and private equity groups at Thomas Wiesel Partners. Mr. Cohen received a B.A. in Public Policy from the Terry Sanford Institute at Duke University and an MBA from Columbia Business School.