Broadpoint Capital, Inc. Acts as Sole Bookrunner, ISM Capital LLP Acts as Financial Advisor on $105M Foreign Currency Convertible Bond Offering by REI Agro Ltd.

First Indian Midcap Company to Access Convertible Markets in the U.S. Since Credit Crunch

NEW YORK -- Broadpoint Capital, Inc., a broker-dealer subsidiary of Broadpoint Gleacher Securities Group, Inc. (NASDAQ: BPSG) today announced that it acted as sole bookrunner in connection with the offering by REI Agro Limited of US$ 105 million of Foreign Currency Convertible Bonds (FCCBs) with international investors . The bonds, due 2014, carry an interest rate of 5.5 per cent per annum. The bonds were sold under a combination of Regulation S and Regulation 144A of the U.S. Securities Act. ISM Capital LLP, a London-based investment banking boutique, acted as financial advisor to REI Agro. Last month, Broadpoint.Gleacher announced its agreement to acquire ISM, subject to FSA approval, and to create Broadpoint International in connection with its international initiative.

REI Agro, the world's largest basmati rice processing and marketing company, reported FY09 revenues of US$ 481.3m and net profit of USD$ 12.0m. The proceeds of this FCCB offering are intended to be used for financing the growth plans of REI Agro, including an increase in the company's processing capacity.

Sundip Jhunjhunwala, CEO of REI Agro, commented on the transaction, "We are delighted to be one of the first midcap Indian companies to successfully raise FCCB's since the credit crunch. This capital raise will position us well to implement our growth strategy. Broadpoint and ISM Capital have been instrumental in helping us complete this transaction and have engaged international investors of the highest calibre. We believe this transaction will create significant value for both REI and investors."

Cliff Siegel, CEO of ISM Capital, added, "We are delighted to have partnered with Broadpoint in such a significant transaction and look forward to our becoming part of the Broadpoint.Gleacher team upon the closing of Broadpoint.Gleacher's acquisition of ISM. We have been pleased with the response that we have had from investors and look forward to meeting the financing needs of growth companies as activity in markets such as India returns."

KNG Securities LLP and Jermyn Capital Partners acted as sales agents in the transaction.

About Broadpoint.Gleacher

Broadpoint Gleacher Securities Group, Inc. (NASDAQ: BPSG) is an independent investment bank that provides corporations and institutional investors with strategic, research-based investment opportunities, capital raising, and financial advisory services, including merger and acquisition, restructuring, recapitalization and strategic alternative analysis services. The Company offers a diverse range of products through the Debt Capital Markets, Investment Banking and Broadpoint DESCAP divisions of Broadpoint Capital, Inc., its Investment Banking financial advisory subsidiary, Gleacher Partners LLC, its Equity Capital Markets subsidiary, Broadpoint AmTech and FA Technology Ventures Inc., its venture capital subsidiary. For more information, please visit www.bpsg.com.

Forward Looking Statements

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