Rodman & Renshaw Once Again Ranked #1 Investment Bank In PIPE Market by Deal Volume

Rodman & Renshaw Capital Group, Inc. (NASDAQ: RODM), today announced that its subsidiary, Rodman & Renshaw, LLC has maintained its leading position in PIPE transaction deal volume for the first three quarters of 2008, gaining the top position in PlacementTrackers PIPE Market League Tables, published by Sagient Research Systems. During the first nine months of 2008 Rodman completed 38 transactions raising a total of $503 million. Rodman was also the number one ranked PIPE advisor by deal volume for all of 2007.

Michael Lacovara, Chief Executive Officer, commented: I am delighted that each quarter we maintain our position as the leading investment bank in PIPE transactions, which have become a critical instrument for many companies given the prevailing state of the capital markets.

PlacementTracker is a flagship product of Sagient Research Systems and well recognized as the leading provider of research, data, and analytics covering the PIPE market.

About Sagient Research Systems

Sagient Research Systems is a publisher of independent research. It develops, produces, and sells proprietary research products to mutual funds, hedge funds, and investment banks. Its business strategy is to continue to leverage our development, technology, and marketing expertise to solidify our position as a leading provider of independent research to the financial services and institutional investment communities. In September 2007, Sagient Research was named to the inaugural Inc. 5000 list of fastest growing companies. For more information, please visit the Sagient Research Systems website at www.sagientresearch.com.

About Rodman & Renshaw Capital Group, Inc.

Rodman & Renshaw Capital Group, Inc. is a holding company with a number of direct and indirect subsidiaries, including Rodman & Renshaw, LLC, Rodman Principal Investments, LLC and Miller Mathis & Co., LLC.

Rodman & Renshaw, LLC is a full service investment bank dedicated to providing investment banking services to companies that have significant recurring capital needs due to their growth and development strategies, along with research and sales and trading services to investor clients that focus on such companies. Rodman is a leading investment banking firm with particular emphasis on essential industries with significant capital needs, including health care (especially life science), energy (especially upstream oil and gas), ferrous and non-ferrous metals, shipping, and natural resources, as well as a leader in the PIPE (private investment in public equity) and RD (registered direct placements) transaction markets.

MEMBER FINRA, SIPC

Contacts:

Financial Dynamics
Julie Prozeller / Hannah Sloane
212-850-5600

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