Kant Joins First Albany Capital as Senior Research Analyst Covering Advanced Materials

Business Wire, March 20, 2007

NEW YORK -- First Albany Capital Inc., the broker/dealer subsidiary of First Albany Companies Inc. (NASDAQ: FACT), announced today that Avinash Kant, a senior research analyst following the advanced materials sector, has joined the firm as a Principal and Senior Analyst in the Equity Research Group.

"We are very excited to have Avinash join our research team," stated Christina Valauri, Equity Research Director of First Albany Capital. "His research focus is both complementary to our existing technology coverage at the firm and well aligned with the firm's strategic plan to focus on small to mid-cap companies. The addition of Avinash to our team confirms our strategic decision to continue to provide insightful, value-added research coverage within the Technology and other sectors, with a specific focus on emerging technologies that both broaden and deepen our equity research coverage within all of our industry verticals. Avinash has in-depth knowledge of the advanced materials field formulated from both extensive academic and industry experience. We believe advanced materials could be a key enabler of leading edge technology in wide ranging industries such as semiconductors, alternative energy, defense and nanotechnology. Avinash has a strong track record with institutional clients of providing a unique and effective non-consensus approach to his research coverage of the sector. We are looking forward to the positive impact both Avinash's research and strong client service and relationships will provide to our growing equity capital markets platform."

Kant joins First Albany Capital from Canaccord Adams, where he was a senior analyst covering small to mid-cap companies in the advanced materials sector. He also has held previous engineering positions with Conexant Systems and Motorola. Avinash holds a Ph.D. in Materials Science & Engineering from the University of California, Berkeley.

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.