KBW, Inc. Stockholders Approve Proposed Merger with Stifel Financial Corp.

  KBW, Inc. Stockholders Approve Proposed Merger with Stifel Financial Corp.

Business Wire

NEW YORK -- February 12, 2013

KBW, Inc. (“KBW”) (NYSE: KBW) announced today that KBW stockholders voted
overwhelmingly in favor of the proposals relating to the proposed merger with
Stifel Financial Corp. (“Stifel”). At the duly held special meeting today, 99
percent of the shares present or represented by proxy (which constituted 79
percent of all outstanding shares on the record date) were voted in favor of a
proposal to adopt the agreement and plan of merger dated as of November 5,
2012, among KBW, Stifel, and two wholly-owned subsidiaries of Stifel, SFKBW
One, Inc. and SFKBW Two, LLC. The non-binding, advisory vote to approve
certain compensation arrangements for KBW’s named executive officers in
connection with the merger also received favorable support as 74 percent of
the shares present in person or represented by proxy at the special meeting
voted in favor of the proposal.

The approval of the stockholders of KBW was one of the remaining conditions to
the closing of the merger. The merger is still subject to other customary
closing conditions. KBW and Stifel currently expect to close the merger on or
about February 15, 2013.

About KBW

KBW, Inc., headquartered in New York, operates in the U.S. and Europe through
its broker dealer subsidiaries, Keefe, Bruyette & Woods, Inc. and Keefe,
Bruyette & Woods Limited. Celebrating its 50th anniversary, KBW has
established itself as a leading independent authority in the banking,
insurance, brokerage, asset management, mortgage banking, real estate and
specialty finance sectors. Founded in 1962, the firm maintains
industry-leading positions in the areas of research, corporate finance,
mergers and acquisitions as well as sales and trading in equities and debt
securities of financial services companies.


KBW Investor Relations
Alan Oshiki, 866-529-2339
Intermarket Communications
Neil Shapiro, 212-754-5423
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