Wall Street Veteran Andrew Malik Joins Needham & Company as Chairman

Business Wire, April 18, 2008

NEW YORK -- Needham & Company, LLC, a privately held, full-service investment bank, announced today that Andrew Malik has joined the firm as Chairman of Needham & Company and as a member of the Executive Committee of The Needham Group, Inc. Mr. Malik, a well respected Wall Street veteran, joins Needham from Lehman Brothers.

"We are delighted to welcome Andy to Needham," said George Needham, Chairman and CEO of The Needham Group, Inc. "I expect that Andy's extraordinary experience with growth stocks and major institutional investors will make immediate and substantial contributions to Needham & Company's business."

Mr. Malik spent 21 years at Lehman Brothers, where he was a Partner and subsequently a Managing Director. During his Lehman tenure, his duties included Head of Technology Capital Markets and Head of the Banking Development Group. Prior to Lehman Brothers, Mr. Malik ran Capital Markets and Institutional Sales for C.E. Unterberg, Towbin (which became L.F. Rothschild, Unterberg, Towbin) from 1971 to 1987. Earlier in his career, he was a security analyst with Josephthal & Co. and a Partner in charge of Institutional Sales with Muriel Siebert & Co. To date, Mr. Malik has worked on more than one thousand equity, debt and M&A transactions. In addition, he has served on the Board of Directors of several technology companies and venture firms, including a number of years as Chairman of the Audit Committee of Hummingbird, Inc., and he has lectured extensively on college campuses.

About Needham & Company, LLC

Needham & Company, LLC, a wholly owned subsidiary of The Needham Group, Inc., is a privately held, full-service investment bank with the mission of helping emerging growth companies achieve their potential. The firm is headquartered in New York City with offices in Boston, Menlo Park and San Francisco. In addition to investment banking, Needham's principal activities include institutional sales and trading and asset management. To serve its institutional clients, Needham & Company produces comprehensive equity research on more than 350 companies in technology, healthcare, consumer and industrial growth. Needham & Company is a member of FINRA/SIPC. For more information, please see www.needhamco.com.