First Albany Companies Inc. Announces Third Quarter Earnings Conference Call — October 30, 2006

Business Wire, Oct 18, 2006

ALBANY, N.Y. -- First Albany Companies Inc. (Nasdaq:FACT) will release third quarter results after market closing on Monday, October 30, 2006. Management will then discuss the results on a conference call at 4:30 p.m. ET. To participate on the call, please dial 800-867-4593 and request the First Albany earnings call. A recording of the call will be available for seven days by dialing 800-753-5212.

This event will be Webcast and can be accessed on the Investor Relations portion of the First Albany Companies website at www.firstalbany.com, as well as being distributed through the Thomson StreetEvents Network. Individual investors can listen to the call at www.earnings.call, Thomson's individual investor portal, powered by StreetEvents. Institutional investors can access the call via Thomson StreetEvents (www.streetevents.com), a password-protected event management site.

About First Albany

First Albany Companies Inc. (Nasdaq:FACT) is an independent investment bank that serves the institutional market, state, and local governments and the growing corporate middle market by providing clients with strategic, research-based investment opportunities, as well as advisory and financing services. First Albany offers a diverse range of products through its Equities and Municipal Capital Markets divisions, as well as through Descap Securities Inc., its MBS/ABS trading subsidiary and FA Technology Ventures Inc., its venture capital division. First Albany maintains offices in major business and commercial markets.