First Albany Retains JH McCann & Company for CEO Search

Business Wire, Sept 22, 2005

ALBANY, N.Y. -- First Albany Companies Inc (NASDAQ: FACT), a full service investment bank and institutional securities firm, today announced it had commenced its search for a new Chief Executive Officer and retained JH McCann & Company, Inc., an executive search firm specializing in financial institutions. The Selection Committee of First Albany's Board of Directors is directing the search, which was announced this August. The Committee intends to consider both internal and external candidates for the position and is projecting completion of the search by the end of 2005 or within the first quarter of 2006.

About First Albany

Founded in 1953, First Albany is a leading institutionally focused independent investment bank that serves the institutional market, the growing corporate middle market and public institutions by providing clients with strategic, research-based, innovative investment opportunities. First Albany offers a diverse range of products through its Equities division, Fixed Income division and Venture Capital division, FA Technology Ventures Inc. First Albany is traded on NASDAQ under the symbol FACT with offices in major business and commercial markets.