Siebert Financial Corp. Announces 300,000 Share Buy-Back Program

Business Wire, Jan 23, 2008

NEW YORK -- Siebert Financial Corp. (NASDAQ: SIEB) announced today that its Board of Directors has approved a share buyback program of up to 300,000 shares. The shares will be purchased from time to time in the open market and in private transactions when the Company deems the price appropriate. The company essentially completed a buyback program of one million shares between 2000 and 2006.

Muriel Siebert, Chairwoman said, "I believe that at current market price, the buyback of some of our stock will provide our shareholders with a better return on a small portion of our excess cash."

Siebert Financial Corp. is a holding company that conducts all its operations through its wholly owned subsidiary, Muriel Siebert & Co., Inc. ("Siebert"), a member of the New York Stock Exchange. Municipal investment banking activities are conducted by Siebert, Brandford, Shank, & Co., LLC, a separate affiliate of Siebert specializing in municipal and other fixed income underwriting and financial advisory business.

Siebert is based in New York City with additional retail branches in Boca Raton, Surfside, Palm Beach and Naples, FL; Beverly Hills, CA and Jersey City, N.J. In addition, Siebert, Brandford, Shank & Co., LLC, has offices in Atlanta, Anchorage, Chicago, Dallas, Detroit, Fort Worth, Houston, Los Angeles, Miami, New York, Oakland, Orlando, San Antonio, San Diego, Seattle, Washington, D.C. and Weehawken.

Statements in this press release concerning the Company's business outlook or future economic performance, anticipated profitability, revenues, expenses or other financial items, together with other statements that are not historical facts, are "forward-looking statements" as that term is defined under the Federal Securities Laws. Forward-looking statements are subject to risks, uncertainties and other factors which could cause actual results to differ materially from those stated in such statements. Such risks, uncertainties and other factors include, changes in general economic and market conditions, fluctuations in volume and prices of securities, changes and prospects for changes in interest rates and demand for brokerage and investment banking services, increases in competition within and without the discount brokerage business through broader service offerings or otherwise, competition from electronic discount brokerage firms offering greater discounts on commissions than Siebert, prevalence of a flat fee environment, decline in participation in equity or municipal finance underwriting, decreased ticket volume in the discount brokerage division, limited trading opportunities, increases in expenses, changes in net capital or other regulatory requirements. As a result of these and other factors, Siebert may experience material fluctuations in its operating results on a quarterly or annual basis, which could materially and adversely affect its business, financial condition, operating results, and stock price, as well as other risks detailed in the Company's filings with the Securities and Exchange Commission. Although the Company believes that the expectations reflected in "forward-looking statements" are reasonable, it cannot guarantee future results, levels of activity, performance or achievements. Accordingly, investors are cautioned not to place undue reliance on any such "forward-looking statements," and the Company disclaims any obligation to update the information contained herein or to publicly announce the result of any revisions to such "forward-looking statements" to reflect future events or developments. An investment in Siebert involves various risks, including those mentioned above and those, which are detailed from time to time in Siebert's Securities and Exchange Commission filings. Copies of the company's SEC filings may be obtained by contacting the company or the SEC.