ADVANCE/Do You Remember What You Got for a Holiday Gift Last Year?

(ADVANCE) MINNEAPOLIS--(BUSINESS WIRE)--Nov. 25, 1998--

Piper Jaffray survey shows nearly 40 percent of us don't remember - and an even larger percentage would prefer the gift of investments

As millions of Americans make lists and raid their savings for holiday gift giving, a recent survey conducted by Piper Jaffray Inc. shows a large number of people (37 percent) don't even remember what they received for a holiday gift last year.

"It's disconcerting to see a spending frenzy for gifts during the holiday season when a large percentage of people can't even remember what they received less than a year ago," said Kim Jenson, director of Business, Retirement and Estate Planning for Minneapolis-based Piper Jaffray Inc.

"Instead of taking money out of savings or stocks to buy gifts that will decrease in value, Americans should consider giving loved ones the gift of investments that will grow over time," Jenson said. According to Piper Jaffray's survey, a gift of investment would be well received. When asked if they would rather get a traditional gift or the gift of investments, nearly 41 percent (40.7 percent) of respondents said they would prefer investments. The TeleNation survey, conducted in mid-November by MarketFacts, consisted of 1,000 interviews with adults 18 years or older, 500 male and 500 female.

"Just think about it. If you purchased a stereo worth $500 for your child in 1980, it would probably have an eight-track player or a record player that would be obsolete and useless right now. But, if you had deposited that same $500 into a modest-growth investment with an 8 percent return, your child could now have more than $2,000 saved," she said. (more...)

(Piper Jaffray Survey 2)

Piper Jaffray offers the following ideas for maximizing your gifting dollars:

1. Give the Gift of Retail Stocks - Instead of buying retail goods,

think of investing in retail companies. Over the last five years,

retail stock prices have declined on the average of 5.5 percent

in the fourth quarter. Buying now may be a good idea, because

these stocks traditionally go back up in January. 2. Diversify with a Fund of Funds - A balanced or "fund of funds"

can be a great way for a child or grandchild to learn about

investments. This type of fund usually is diversified in stocks,

bonds and cash - all in one fund. 3. Remember Federal Gift Tax Provisions - Give up to $10,000

completely free of gift taxes to your loved ones, and up to

$20,000 if a spouse joins in making the gift. There is no limit

to the number of people who can receive gifts. And, gifts may be

made outright or placed in custodial accounts for minors, or in

trust accounts for minors or adults. 4. Re-assess Your Portfolio - Give yourself a gift by re-assessing

your portfolio and making sure it's in line with your plan and

goals. If you don't have a long-term plan and are not working

with an investment executive, now is a good time to make a New

Year's Resolution to take control of your financial future.

For your free year-end investment strategies booklet, please call Piper Jaffray at 1-800-553-5766

About the Survey: Results of the survey can be broken down by demographics (gender, age, race, marital status, income, education, and employment status) as well as by region (Northeast, Midwest, South and West). The margin of error is plus or minus five percentage points.

Piper Jaffray Inc., founded in 1895, is one of the nation's premier investment firms, providing investment advice and services to individuals, institutions and businesses. The nation's 11th largest retail brokerage, Piper Jaffray has 104 retail sales offices in 17 states. The company also has a national reputation for its expertise in debt financing and investment banking for emerging growth companies. Nondeposit investment products are not insured by the FDIC, are not deposits or other obligations of or guaranteed by U.S. Bank National Association or its affiliates, and involve investment risks, including possible loss of the principal amount invested. Securities products and services are offered through Piper Jaffray Inc., member SIPC and NYSE, Inc., a subsidiary of U.S. Bancorp. Through U.S. Bank, Piper Jaffray clients can access a full range of commercial and retail banking products. The above information has been obtained from sources deemed reliable. For more information, visit our Web site at piperjaffray.com.

(End of advance for release 12:01 a.m. Nov. 25)