Evercore Partners Reports First Quarter 2013 Results Quarterly Dividend of $0.22 Per Share

  Evercore Partners Reports First Quarter 2013 Results Quarterly Dividend of
  $0.22 Per Share

Highlights

  *First Quarter Financial Summary

       *U.S. GAAP Net Revenues of $151.4 million, up 47% and down 29%
         compared to Q1 2012 and Q4 2012, respectively
       *U.S. GAAP Net Income of $6.0 million, or $0.16 per share, up 277% and
         down 69% compared to Q1 2012 and Q4 2012, respectively
       *Adjusted Pro Forma Net Revenues of $153.4 million, up 45% and down
         28% compared to Q1 2012 and Q4 2012, respectively
       *Adjusted Pro Forma Net Income of $16.8 million, or $0.37 per share,
         up 290% and down 52% compared to Q1 2012 and Q4 2012, respectively

  *Investment Banking

       *Continue to advise on many of the leading transactions in the
         marketplace, including:

            *Advising the Special Committee of the Board of Directors of Dell
              Inc. on the sale of the company
            *Advising the Conflicts Committee of LinnCo on the contribution
              of Berry Petroleum Company to Linn Energy, LLC
            *Advised Primaris Retail REIT on its defense from a hostile
              suitor and ultimate sale to H&R REIT
            *Advising Tekelec Global on its sale to Oracle

       *International capabilities expanded, as revenues from investment
         banking clients outside of the United States were $58 million

  *Investment Management

       *Assets Under Management in consolidated businesses were $12.7
         billion, up 5% from Q4 2012

  *Repurchased 784,000 shares during the quarter
  *Quarterly dividend of $0.22 per share

Business Wire

NEW YORK -- April 24, 2013

Evercore Partners Inc. (NYSE: EVR) today announced that its U.S. GAAP Net
Revenues were $151.4 million for the quarter ended March 31, 2013, compared to
$102.8 million and $214.0 million for the quarters ended March 31, 2012 and
December 31, 2012, respectively. U.S. GAAP Net Income (Loss) Attributable to
Evercore Partners Inc. was $6.0 million, or $0.16 per share, for the first
quarter, compared to ($3.4) million a year ago and $19.0 million, or $0.56 per
share, last quarter.

Adjusted Pro Forma Net Revenues were $153.4 million for the quarter ended
March 31, 2013, compared with $105.5 million and $212.0 million for the
quarters ended March 31, 2012 and December 31, 2012, respectively. Adjusted
Pro Forma Net Income Attributable to Evercore Partners Inc. was $16.8 million,
or $0.37 per share, for the first quarter, compared to $4.3 million, or $0.10
per share, a year ago and $35.3 million, or $0.81 per share, last quarter.

The U.S. GAAP compensation ratio for the three months ended March 31, 2013,
March 31, 2012 and December 31, 2012 was 67.4%, 78.5% and 62.6%, respectively.
The U.S. GAAP trailing twelve-month compensation ratio of 65.4% compares to
71.0% for the twelve months ended March 31, 2012 and 67.0% for the twelve
months ended December 31, 2012. The Adjusted Pro Forma compensation ratio for
the current quarter was 59.7%, compared to 63.0% and 58.0% for the quarters
ended March 31, 2012 and December 31, 2012, respectively. The Adjusted Pro
Forma compensation ratio for the trailing twelve months was 59.2%, compared to
60.0% for the same period in 2012 and 59.7% for the twelve months ended
December 31, 2012.

Evercore’s quarterly results may fluctuate significantly due to the timing and
amount of transaction fees earned, as well as other factors. Accordingly,
financial results in any particular quarter may not be representative of
future results over a longer period of time.

“We are very pleased with the sustained momentum of our business. Our first
quarter was the best first quarter in our history and our fourth best quarter
ever in terms of revenue. Our Advisory business continues to perform well, as
clients and Boards continue to embrace our independent advisory model. Our
work with international investment banking clients has continued to grow,
generating $58 million of revenues in the quarter, substantially higher than
one year ago. Institutional Equities more than doubled in revenues versus the
prior year and reported an operating profit for the quarter. And our
Investment Management business returned to growth as operating profits and
assets under management increased,” said Ralph Schlosstein, President and
Chief Executive Officer. “In short, we continue to execute our strategy,
gaining market share in each of our core businesses, controlling costs and
delivering solid returns to our shareholders. For the quarter, we returned $38
million to our shareholders, including repurchasing 784 thousand shares of
stock.”

“Evercore continues to grow in 2013, despite a murky market environment, and
our backlog remains strong. During the first quarter, we were involved in
thirty-seven transactions that were publicly announced, comprising $45.8
billion of aggregate transaction value. This represents one of our best
quarters since the economic recovery began, based on both the number and the
dollar volume of announced transactions. In addition, our Capital Markets team
completed 12 transactions in the quarter helping to raise more than $6.0
billion of capital for clients, our best quarter since launching this
business,” said Roger Altman, Executive Chairman.

                                                                              
                                                                                                
Consolidated U.S. GAAP and Adjusted Pro Forma Selected Financial Data (Unaudited)

                       U.S. GAAP
                       Three Months Ended                                        % Change vs.
                       March 31,          December 31,       March 31,           December       March
                                                                                 31,            31,
                       2013               2012               2012
                                                                                 2012           2012
                       (dollars in thousands)
Net Revenues           $ 151,422          $ 214,049          $ 102,798           (29  %)        47  %
Operating
Income                 $ 14,944           $ 42,238           $ (12,143 )         (65  %)        NM
(Loss)
Net Income
(Loss)
Attributable           $ 5,969            $ 19,022           $ (3,368  )         (69  %)        NM
to Evercore
Partners
Inc.
Diluted
Earnings               $ 0.16             $ 0.56             $ (0.12   )         (71  %)        NM
(Loss) Per
Share
Compensation             67.4    %          62.6    %          78.5    %
Ratio
Operating                9.9     %          19.7    %          (11.8   %)
Margin
                       
                       
                       Adjusted Pro Forma
                       Three Months Ended                                        % Change vs.
                       March 31,          December 31,       March 31,           December       March
                                                                                 31,            31,
                       2013               2012               2012
                                                                                 2012           2012
                       (dollars in thousands)
Net Revenues           $ 153,354          $ 212,029          $ 105,521           (28  %)        45  %
Operating              $ 29,995           $ 57,020           $ 8,931             (47  %)        236 %
Income
Net Income
Attributable
to Evercore            $ 16,846           $ 35,303           $ 4,317             (52  %)        290 %
Partners
Inc.
Diluted
Earnings Per           $ 0.37             $ 0.81             $ 0.10              (54  %)        270 %
Share
Compensation             59.7    %          58.0    %          63.0    %
Ratio
Operating                19.6    %          26.9    %          8.5     %
Margin
                                                                                                
                                                                                                

Throughout the discussion of Evercore’s business segments, information is
presented on an Adjusted Pro Forma basis, which is an unaudited non-generally
accepted accounting principles (“non-GAAP”) measure. Adjusted Pro Forma
results begin with information prepared in accordance with accounting
principles generally accepted in the United States of America (“U.S. GAAP”),
and then those results are adjusted to exclude certain items and reflect the
conversion of vested and unvested Evercore LP Units into Class A shares.
Evercore believes that the disclosed Adjusted Pro Forma measures and any
adjustments thereto, when presented in conjunction with comparable U.S. GAAP
measures, are useful to investors to compare Evercore’s results across several
periods and facilitate an understanding of Evercore’s operating results.
Evercore uses these measures to evaluate its operating performance, as well as
the performance of individual employees. These measures should not be
considered a substitute for, or superior to, measures of financial performance
prepared in accordance with U.S. GAAP. For more information about the Adjusted
Pro Forma basis of reporting used by management to evaluate the performance of
Evercore and each line of business, including reconciliations of U.S. GAAP
results to an Adjusted Pro Forma basis, see pages A-2 through A-11 included in
Annex I. These Adjusted Pro Forma amounts are allocated to the Company’s two
business segments: Investment Banking and Investment Management.

Business Line Reporting

A discussion of Adjusted Pro Forma revenues and expenses is presented below
for the Investment Banking and Investment Management segments. Unless
otherwise stated, all of the financial measures presented in this discussion
are Adjusted Pro Forma measures. For a reconciliation of the Adjusted Pro
Forma segment data to U.S. GAAP results, see pages A-2 to A-11 in Annex I.

Investment Banking

                                                      
                             U.S. GAAP
                             Three Months Ended
                             March 31,          December 31,       March 31,

                             2013               2012               2012
                             (dollars in thousands)
Net Revenues:
Investment                   $ 131,383          $ 195,467          $ 84,495
Banking
Other Revenue,                213              (612    )         (710    )
net
Net Revenues                  131,596          194,855          83,785  
                                                                   
Expenses:
Employee
Compensation and               87,869             120,593            68,229
Benefits
Non-compensation              27,052           30,073           26,854  
Costs
Total Expenses                114,921          150,666          95,083  
                                                                   
Operating Income             $ 16,675          $ 44,189          $ (11,298 )
(Loss)
                                                                   
Compensation                   66.8    %          61.9    %          81.4    %
Ratio
Operating Margin               12.7    %          22.7    %          (13.5   %)
                                                                             

                        Adjusted Pro Forma
                              Three Months Ended
                              March 31,          December 31,       March 31,
                                                             
                              2013               2012               2012
                              (dollars in thousands)
Net Revenues:
Investment                    $ 129,081          $ 191,140          $ 84,620
Banking
Other Revenue,                 1,301            473              360    
net
Net Revenues                   130,382          191,613          84,980 
                                                                    
Expenses:
Employee
Compensation and                78,014             110,201            54,462
Benefits
Non-compensation               24,580           24,563           23,011 
Costs
Total Expenses                 102,594          134,764          77,473 
                                                                    
Operating Income              $ 27,788          $ 56,849          $ 7,507  
                                                                    
Compensation                    59.8    %          57.5    %          64.1   %
Ratio
Operating Margin                21.3    %          29.7    %          8.8    %
                                                                             
                                                                             

For the first quarter, Evercore’s Investment Banking segment reported Net
Revenues of $130.4 million, which represents an increase of 53% year-over-year
and a decrease of 32% sequentially. Operating Income of $27.8 million
increased by 270% from the first quarter of last year and decreased by 51%
sequentially. Operating Margins were 21.3% in comparison to 8.8% for the first
quarter last year. The Company had 63 Investment Banking Senior Managing
Directors as of March 31, 2013 as compared to 56 as of March 31, 2012.

Revenues

During the quarter, Investment Banking earned advisory fees from 115 clients
(vs. 104 in Q1 2012 and 169 in Q4 2012) and fees in excess of $1 million from
26 transactions (vs. 17 in Q1 2012 and 48 in Q4 2012).

The Institutional Equities business contributed revenues of $11.4 million in
the quarter.

Expenses

Compensation costs were $78.0 million for the first quarter, an increase of
43% year-over-year and a decrease of 29% sequentially. Evercore’s Investment
Banking compensation ratio was 59.8% for the first quarter, versus the
compensation ratio reported for the three months ended March 31, 2012 and
December 31, 2012 of 64.1% and 57.5%, respectively. The trailing twelve-month
compensation ratio was 59.1%, down from 60.3% a year ago and 59.7% compared to
the previous quarter.

Non-compensation costs for the current quarter were $24.6 million, up 7% from
the same period last year and flat sequentially. The increase in costs
reflects continued growth of the Investment Banking business. The ratio of
non-compensation costs to net revenue for the current quarter was 18.9%,
compared to 27.1% in the same quarter last year and 12.8% in the previous
quarter.

Expenses in the Institutional Equities business were $10.9 million for the
first quarter, an increase of 19% from the previous quarter, principally
reflecting an increase in revenue in the business.

Investment Management

                       U.S. GAAP
                             Three Months Ended
                             March 31,          December 31,       March 31,
                                                            
                             2013               2012               2012
Net Revenues:                (dollars in thousands)
Investment
Management                   $ 21,539           $ 19,556           $ 19,764
Revenues
Other Revenue,                (1,713 )          (362   )          (751   )
net
Net Revenues                  19,826           19,194           19,013 
                                                                   
Expenses:
Employee
Compensation and               14,203             13,441             12,498
Benefits
Non-compensation              7,354            7,704            7,360  
Costs
Total Expenses                21,557           21,145           19,858 
                                                                   
Operating Income             $ (1,731 )         $ (1,951 )         $ (845   )
(Loss)
                                                                   
Compensation                   71.6   %           70.0   %           65.7   %
Ratio
Operating Margin               (8.7   %)          (10.2  %)          (4.4   %)
                                                                            

                          Adjusted Pro Forma
                               Three Months Ended
                               March 31,         December 31,       March 31,
                                                             
                               2013              2012               2012
Net Revenues:                  (dollars in thousands)
Investment                     $ 22,083          $  19,862          $ 20,388
Management Revenues
Other Revenue, net              889              554             153    
Net Revenues                    22,972           20,416          20,541 
                                                                    
Expenses:
Employee
Compensation and                 13,535             12,787            11,972
Benefits
Non-compensation                7,230            7,458           7,145  
Costs
Total Expenses                  20,765           20,245          19,117 
                                                                    
Operating Income               $ 2,207          $  171            $ 1,424  
                                                                    
Compensation Ratio               58.9   %           62.6   %          58.3   %
Operating Margin                 9.6    %           0.8    %          6.9    %
                                                                             
                                                                             

For the first quarter, Investment Management reported Net Revenues and
Operating Income of $23.0 million and $2.2 million, respectively. Investment
Management reported a first quarter Operating Margin of 9.6%. As of March 31,
2013, Investment Management reported $12.7 billion of AUM, up 5% from the
fourth quarter as market appreciation of $0.7 billion was partially offset by
net outflows of $0.1 billion during the quarter.

Revenues

                                                           
Investment Management Revenue Components
                          Adjusted Pro Forma
                          Three Months Ended
                          March 31,            December 31,      March 31,

                          2013                 2012              2012
Investment Advisory       (dollars in thousands)
and Management Fees
Wealth Management         $   6,651            $   5,123         $  4,525
Institutional Asset           10,373               11,053           12,466
Management (1)
Private Equity               2,191               2,397          1,735   
Total Investment
Advisory and                 19,215              18,573         18,726  
Management Fees
                                                                 
Realized and
Unrealized Gains
(Losses)
Institutional Asset           1,805                840              1,212
Management
Private Equity               477                 (21     )       (307    )
Total Realized and           2,282               819            905     
Unrealized Gains
                                                                 
Equity in Earnings of        586                 470            757     
Affiliates (2)
Investment Management     $   22,083           $   19,862       $  20,388  
Revenues
                                                                 
(1) Management fees from Institutional Asset Management were $10.4 million,
$11.2 million and $12.6 million for
the three months ended March 31, 2013, December 31, 2012 and March 31, 2012,
respectively, on a U.S. GAAP
basis, excluding the reduction of revenues for client-related expenses.
(2) Equity in G5, ABS and Pan on a U.S. GAAP basis are reclassified from
Investment Management Revenue to Income from Equity Method Investments.
                                                                 
                                                                 

Investment Advisory and Management Fees of $19.2 million for the quarter ended
March 31, 2013 increased compared to the same period a year ago, as higher
fees in Wealth Management and Private Equity were offset by declines in
Institutional Asset Management. Fees earned in the current quarter increased
in comparison to the previous quarter.

Realized and Unrealized Gains of $2.3 million in the quarter increased
relative to the prior year and to the previous quarter; the change relative to
the prior periods was driven principally by gains in Institutional Asset
Management.

Equity in Earnings of Affiliates of $0.6 million in the quarter decreased
relative to the prior year, and was up from the prior quarter.

Expenses

Investment Management’s first quarter expenses were $20.8 million, up 9%
compared to the first quarter of 2012 and 3% compared to previous quarter.

Other U.S. GAAP Expenses

Evercore’s Adjusted Pro Forma Net Income Attributable to Evercore Partners
Inc. for the three months ended March 31, 2013 was higher than U.S. GAAP as a
result of the exclusion of expenses associated with the vesting of IPO equity
awards and awards granted in conjunction with the Lexicon acquisition and
certain business acquisition-related costs. In addition, for Adjusted Pro
Forma purposes, client related expenses and expenses associated with
revenue-sharing engagements with third parties have been presented as a
reduction from Revenues and Non-compensation costs. Further details of these
expenses, as well as an explanation of similar expenses for the three months
ended March 31, 2012 and the three months ended December 31, 2012, are
included in Annex I, pages A-2 to A-11.

Non-controlling Interests

Non-controlling Interests in certain subsidiaries are owned by the principals
and strategic investors in these businesses. Evercore’s equity ownership
percentages in these businesses range from 51% to 86%. For the periods ended
March 31, 2013, December 31, 2012, and March 31, 2012 the gain (loss)
allocated to non-controlling interests was as follows:

                        
                             Net Gain (Loss) Allocated to Noncontrolling
                             Interests
                             Three Months Ended
                             March 31,         December 31,        March 31,
                                                               
                             2013              2012                2012
Segment                      (dollars in thousands)
Investment                   $      395        $   (668     )      $  (278  )
Banking (1)
Investment                         112           (478     )        274   
Management (1)
Total                        $      507        $   (1,146   )      $  (4    )
                                                                   
(1) The difference between Adjusted Pro Forma and U.S. GAAP Noncontrolling
Interests relates
primarily to intangible amortization expense for certain acquisitions which we
excluded from the
Adjusted Pro Forma results.
                                                                
                                                                

Income Taxes

For the three months ended March 31, 2013, Evercore’s Adjusted Pro Forma
effective tax rate was 38%, compared to 38% for the three months ended March
31, 2012.

For the three months ended March 31, 2013, Evercore’s U.S. GAAP effective tax
rate was approximately 47%, compared to 48% for the three months ended March
31, 2012. The effective tax rate for U.S. GAAP purposes reflects significant
adjustments relating to the tax treatment of certain compensation
transactions, non-controlling interest associated with Evercore LP Units,
state, local and foreign taxes, and other adjustments.

Balance Sheet

The Company continues to maintain a strong balance sheet, holding cash, cash
equivalents and marketable securities of $171.4 million at March 31, 2013.
Current assets exceed current liabilities by $207.5 million at March 31, 2013.
Amounts due related to the Long-Term Notes Payable were $101.8 million at
March 31, 2013.

During the quarter the Company repurchased approximately 784,000 shares at an
average cost of $37.95 per share.

Dividend

On April 22, 2013, the Board of Directors of Evercore declared a quarterly
dividend of $0.22 per share to be paid on June 14, 2013 to common stockholders
of record on May 31, 2013.

Conference Call

Investors and analysts may participate in the live conference call by dialing
(866) 953-6857 (toll-free domestic) or (617) 399-3481 (international);
passcode: 73060774. Please register at least 10 minutes before the conference
call begins. A replay of the call will be available for one week via telephone
starting approximately one hour after the call ends. The replay can be
accessed at (888) 286-8010 (toll-free domestic) or (617) 801-6888
(international); passcode: 44263334. A live webcast of the conference call
will be available on the Investor Relations section of Evercore’s website at
www.evercore.com. The webcast will be archived on Evercore’s website for 30
days after the call.

About Evercore Partners

Evercore Partners is a leading independent investment banking advisory firm.
Evercore’s Investment Banking business advises its clients on mergers,
acquisitions, divestitures, restructurings, financings, public offerings,
private placements and other strategic transactions and also provides
institutional investors with high quality research, sales and trading
execution that is free of the conflicts created by proprietary activities;
Evercore’s Investment Management business comprises wealth management,
institutional asset management and private equity investing. Evercore serves a
diverse set of clients around the world from its offices in New York, Boston,
Chicago, Minneapolis, Houston, Los Angeles, San Francisco, Washington D.C.,
Toronto, London, Aberdeen, Scotland, Mexico City and Monterrey, Mexico, Hong
Kong and Rio de Janeiro and São Paulo, Brazil. More information about Evercore
can be found on the Company’s website at www.evercore.com.

Basis of Alternative Financial Statement Presentation

Adjusted Pro Forma results are a non-GAAP measure. Evercore believes that the
disclosed Adjusted Pro Forma measures and any adjustments thereto, when
presented in conjunction with comparable U.S. GAAP measures, are useful to
investors to compare Evercore’s results across several periods and better
reflect management’s view of operating results. These measures should not be
considered a substitute for, or superior to, measures of financial performance
prepared in accordance with U.S. GAAP. A reconciliation of U.S. GAAP results
to Adjusted Pro Forma results is presented in the tables included in Annex I.

Forward-Looking Statements

This release contains forward-looking statements within the meaning of Section
27A of the Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934, which reflect our current views with respect to, among other
things, Evercore’s operations and financial performance. In some cases, you
can identify these forward-looking statements by the use of words such as
“outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,”
“should,” “seeks,” “approximately,” “predicts,” “intends,” “plans,”
“estimates,” “anticipates” or the negative version of these words or other
comparable words. All statements other than statements of historical fact
included in this presentation are forward-looking statements and are based on
various underlying assumptions and expectations and are subject to known and
unknown risks, uncertainties and assumptions, and may include projections of
our future financial performance based on our growth strategies and
anticipated trends in Evercore’s business. Accordingly, there are or will be
important factors that could cause actual outcomes or results to differ
materially from those indicated in these statements. Evercore believes these
factors include, but are not limited to, those described under “Risk Factors”
discussed in Evercore’s Annual Report on Form 10-K for the year ended December
31, 2012, subsequent quarterly reports on Form 10-Q, current reports on Form
8-K and Registration Statements. These factors should not be construed as
exhaustive and should be read in conjunction with the other cautionary
statements that are included in this release. In addition, new risks and
uncertainties emerge from time to time, and it is not possible for Evercore to
predict all risks and uncertainties, nor can Evercore assess the impact of all
factors on our business or the extent to which any factor, or combination of
factors, may cause actual results to differ materially from those contained in
any forward-looking statements. Accordingly, you should not rely upon
forward-looking statements as a prediction of actual results and Evercore does
not assume any responsibility for the accuracy or completeness of any of these
forward-looking statements. Evercore undertakes no obligation to publicly
update or review any forward-looking statement, whether as a result of new
information, future developments or otherwise.

With respect to any securities offered by any private equity fund referenced
herein, such securities have not been and will not be registered under the
Securities Act of 1933, as amended, and may not be offered or sold in the
United States absent registration or an applicable exemption from registration
requirements.

                                                              
                                                                   
ANNEX I
                                                              
Schedule                                                       Page Number
Unaudited Condensed Consolidated Statements of Operations      A-1
for the Three Months Ended March 31, 2013 and 2012
Adjusted Pro Forma:                                            
Adjusted Pro Forma Results                                     A-2
U.S. GAAP Reconciliation to Adjusted Pro Forma (Unaudited)     A-4
U.S. GAAP Segment Reconciliation to Adjusted Pro Forma for     A-6
the Three Months ended March 31, 2013 (Unaudited)
U.S. GAAP Segment Reconciliation to Adjusted Pro Forma for     A-7
the Three Months ended December 31, 2012 (Unaudited)
U.S. GAAP Segment Reconciliation to Adjusted Pro Forma for     A-8
the Three Months ended March 31, 2012 (Unaudited)
Notes to Unaudited Condensed Consolidated Adjusted Pro         A-9
Forma Financial Data
                                                                   
                                                                   

                                                          
                                                                   
EVERCORE PARTNERS INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
THREE MONTHS ENDED MARCH 31, 2013 AND 2012
(dollars in thousands, except per share data)
(UNAUDITED)
                                                                   
                                                 Three Months Ended March 31,
                                                 2013              2012
                                                                   
Revenues
Investment Banking Revenue                       $ 131,383         $ 84,495
Investment Management Revenue                      21,539            19,764
Other Revenue                                     1,793            2,296   
Total Revenues                                     154,715           106,555
Interest Expense (1)                              3,293            3,757   
Net Revenues                                      151,422          102,798 
                                                                   
Expenses
Employee Compensation and Benefits                 102,072           80,727
Occupancy and Equipment Rental                     8,759             8,245
Professional Fees                                  7,852             7,056
Travel and Related Expenses                        7,181             6,733
Communications and Information Services            3,420             2,788
Depreciation and Amortization                      3,558             5,362
Acquisition and Transition Costs                   58                73
Other Operating Expenses                          3,578            3,957   
Total Expenses                                    136,478          114,941 
                                                                   
Income (Loss) Before Income from Equity            14,944            (12,143 )
Method Investments and Income Taxes
Income from Equity Method Investments             756              2,385   
Income (Loss) Before Income Taxes                  15,700            (9,758  )
Provision (Benefit) for Income Taxes              7,322            (4,638  )
Net Income (Loss)                                  8,378             (5,120  )
Net Income (Loss) Attributable to                 2,409            (1,752  )
Noncontrolling Interest
Net Income (Loss) Attributable to                $ 5,969           $ (3,368  )
Evercore Partners Inc.
                                                                   
Net Income (Loss) Attributable to
Evercore Partners Inc. Common                    $ 5,948           $ (3,389  )
Shareholders
                                                                   
Weighted Average Shares of Class A
Common Stock Outstanding:
Basic                                              31,861            29,101
Diluted                                            37,733            29,101
                                                                   
Net Income (Loss) Per Share Attributable
to Evercore Partners Inc. Common
Shareholders:
Basic                                            $ 0.19            $ (0.12   )
Diluted                                          $ 0.16            $ (0.12   )
                                                                   
(1) Includes interest expense on long-term debt and interest expense on
short-term repurchase agreements.
                                                 
                                                 

                                     A-1

Adjusted Pro Forma Results

Throughout the discussion of Evercore’s business segments, information is
presented on an Adjusted Pro Forma basis, which is a non-generally accepted
accounting principles (“non-GAAP”) measure. Adjusted Pro Forma results begin
with information prepared in accordance with accounting principles generally
accepted in the United States of America (“U.S. GAAP”), adjusted to exclude
certain items and reflect the conversion of vested and unvested Evercore LP
Units, other IPO related restricted stock unit awards, as well as Acquisition
Related Share Issuances and Unvested Restricted Stock Units granted to Lexicon
employees, into Class A shares. Evercore believes that the disclosed Adjusted
Pro Forma measures and any adjustments thereto, when presented in conjunction
with comparable U.S. GAAP measures, are useful to investors to compare
Evercore’s results across several periods and facilitate an understanding of
Evercore’s operating results. The Company uses these measures to evaluate its
operating performance, as well as the performance of individual employees.
These measures should not be considered a substitute for, or superior to,
measures of financial performance prepared in accordance with U.S. GAAP. These
Adjusted Pro Forma amounts are allocated to the Company’s two business
segments: Investment Banking and Investment Management. The differences
between Adjusted Pro Forma and U.S. GAAP results are as follows:

1. Assumed Vesting of Evercore LP Units and Exchange into Class A Shares. The
Company incurred expenses, primarily, in Employee Compensation and Benefits,
resulting from the modification of Evercore LP Units, which will vest
generally over a five-year period. The Adjusted Pro Forma results assume these
LP Units have vested and have been exchanged for Class A shares. Accordingly,
any expense associated with these units and related awards is excluded from
Adjusted Pro Forma results and the noncontrolling interest related to these
units is converted to controlling interest. The Company’s Management believes
that it is useful to provide the per-share effect associated with the assumed
conversion of this previously granted but unvested equity, and thus the
Adjusted Pro Forma results reflect the vesting of all unvested Evercore LP
partnership units and IPO related restricted stock unit awards.

2. Vesting of Contingently Vested Equity Awards. The Company incurred expenses
in Employee Compensation and Benefits, resulting from the vesting of awards
issued at the time of the IPO. These awards vest upon the occurrence of
specified vesting events rather than merely the passage of time and continued
service. In periods prior to the completion of the June 2011 offering, we
concluded that it was not probable that the vesting conditions would be
achieved. Accordingly, we had not been accruing compensation expense relating
to these unvested stock-based awards. The completion of the June 2011 offering
resulted in Messrs. Altman, Beutner and Aspe, and trusts benefiting their
families and permitted transferees, collectively, ceasing to beneficially own
at least 50% of the aggregate Evercore LP partnership units owned by them on
the date of the internal reorganization, resulting in the vesting of these
awards. The related expense has been excluded from the Adjusted Pro Forma
results.

3. Adjustments Associated with Business Combinations. The following charges
resulting from business combinations have been excluded from Adjusted Pro
Forma results because the Company’s Management believes that operating
performance is more comparable across periods excluding the effects of these
acquisition-related charges;

a. Amortization of Intangible Assets. Amortization of intangible assets
related to the Protego acquisition, the Braveheart acquisition and the
acquisitions of SFS and Lexicon.

b. Compensation Charges. Expenses for deferred share-based and cash
consideration and retention awards associated with the acquisition of Lexicon,
as well as base salary adjustments for Lexicon employees for the period
preceding the acquisition.

c. Foreign Exchange Gains / (Losses). Release of foreign exchange losses
related to the consolidation of Pan, previously accounted for under the equity
method.

                                     A-2

4. Client Related Expenses. Client related expenses, expenses associated with
revenue sharing engagements with third parties and provisions for uncollected
receivables, have been classified as a reduction of revenue in the Adjusted
Pro Forma presentation. The Company’s Management believes that this adjustment
results in more meaningful key operating ratios, such as compensation to net
revenues and operating margin.

5. Income Taxes. Evercore is organized as a series of Limited Liability
Companies, Partnerships, a C-Corporation and a Public Corporation and
therefore, not all of the Company’s income is subject to corporate-level
taxes. As a result, adjustments have been made to the Adjusted Pro Forma
earnings to assume that the Company has adopted a conventional corporate tax
structure and is taxed as a C-Corporation in the U.S. at the prevailing
corporate rates, that all deferred tax assets relating to foreign operations
are fully realizable within the structure on a consolidated basis and that
adjustments for deferred tax assets related to the ultimate tax deductions for
equity-based compensation awards are made directly to stockholders’ equity.
This assumption is consistent with the assumption that all Evercore LP Units
are vested and exchanged into Class A shares, as discussed in Item 1 above, as
the assumed exchange would change the tax structure of the Company.

6. Presentation of Interest Expense. The Adjusted Pro Forma results present
interest expense on short-term repurchase agreements, within the Investment
Management segment, in Other Revenues, net, as the Company’s Management
believes it is more meaningful to present the spread on net interest resulting
from the matched financial assets and liabilities. In addition, Adjusted Pro
Forma Investment Banking and Investment Management Operating Income is
presented before interest expense on long-term debt, which is included in
interest expense on a U.S. GAAP basis.

7. Presentation of Income from Equity Method Investments. The Adjusted Pro
Forma results present Income from Equity Method Investments within Revenue as
the Company’s Management believes it is a more meaningful presentation.

                                     A-3

                                                          
                                                                
EVERCORE PARTNERS INC.
U.S. GAAP RECONCILIATION TO ADJUSTED PRO FORMA
(dollars in thousands)
(UNAUDITED)
                                                                
                            Three Months Ended
                            March 31,         December 31,      March 31,

                            2013              2012              2012
Net Revenues - U.S.         $  151,422        $  214,049        $  102,798
GAAP
Client Related                 (2,514   )        (5,354   )        (1,636   )
Expenses (1)
Income from Equity
Method Investments             756               1,333             2,385
(2)
Interest Expense on            2,007             2,001             1,974
Long-term Debt (3)
Foreign Exchange
Losses from Pan               1,683           -               -        
Consolidation (4)
Net Revenues -              $  153,354       $  212,029       $  105,521  
Adjusted Pro Forma
                                                                
Compensation Expense        $  102,072        $  134,034        $  80,727
- U.S. GAAP
Amortization of LP
Units and Certain              (5,577   )        (5,682   )        (4,648   )
Other Awards (5)
Acquisition Related
Compensation Charges          (4,946   )       (5,364   )       (9,645   )
(7)
Compensation Expense        $  91,549        $  122,988       $  66,434   
- Adjusted Pro Forma
                                                                
Operating Income            $  14,944         $  42,238         $  (12,143  )
(Loss) - U.S. GAAP
Income from Equity
Method Investments            756             1,333           2,385    
(2)
Pre-Tax Income                 15,700            43,571            (9,758   )
(Loss) - U.S. GAAP
Foreign Exchange
Losses from Pan                1,683             -                 -
Consolidation (4)
Amortization of LP
Units and Certain              5,577             5,678             4,742
Other Awards (5)
Acquisition Related
Compensation Charges           4,946             5,364             9,645
(7)
Intangible Asset              82              406             2,328    
Amortization (8a)
Pre-Tax Income -               27,988            55,019            6,957
Adjusted Pro Forma
Interest Expense on           2,007           2,001           1,974    
Long-term Debt (3)
Operating Income -          $  29,995        $  57,020        $  8,931    
Adjusted Pro Forma
                                                                
Provision (Benefit)
for Income Taxes -          $  7,322          $  18,586         $  (4,638   )
U.S. GAAP
Income Taxes (9)              3,313           2,276           7,282    
Provision for Income
Taxes - Adjusted Pro        $  10,635        $  20,862        $  2,644    
Forma
                                                                
Net Income (Loss)           $  8,378          $  24,985         $  (5,120   )
Net Income (Loss)
Attributable to               2,409           5,963           (1,752   )
Noncontrolling
Interest
Net Income (Loss)
Attributable to                5,969             19,022            (3,368   )
Evercore Partners
Inc. - U.S. GAAP
Foreign Exchange
Losses from Pan                1,683             -                 -
Consolidation (4)
Amortization of LP
Units and Certain              5,577             5,678             4,742
Other Awards (5)
Acquisition Related
Compensation Charges           4,946             5,364             9,645
(7)
Intangible Asset               82                406               2,328
Amortization (8a)
Income Taxes (9)               (3,313   )        (2,276   )        (7,282   )
Noncontrolling                1,902           7,109           (1,748   )
Interest (10)
Net Income
Attributable to
Evercore Partners           $  16,846        $  35,303        $  4,317    
Inc. - Adjusted Pro
Forma
                                                                
Diluted Shares
Outstanding - U.S.             37,733            33,956            29,101
GAAP
Warrants (11a)                 -                 -                 1,186
Vested Partnership             6,021             5,978             7,656
Units (11b)
Unvested Partnership           1,441             2,886             2,987
Units (11b)
Unvested Restricted
Stock Units - Event            12                12                12
Based (11b)
Acquisition Related            708               892               1,915
Share Issuance (11c)
Unvested Restricted
Stock Units -                 -               -               1,578    
Service Based (11a,
11c)
Diluted Shares
Outstanding -                 45,915          43,724          44,435   
Adjusted Pro Forma
                                                                
Key Metrics: (a)
Diluted Earnings
(Loss) Per Share -          $  0.16           $  0.56           $  (0.12    )
U.S. GAAP (b)
Diluted Earnings Per
Share - Adjusted Pro        $  0.37           $  0.81           $  0.10
Forma (b)
                                                                
Compensation Ratio -           67.4     %        62.6     %        78.5     %
U.S. GAAP
Compensation Ratio -           59.7     %        58.0     %        63.0     %
Adjusted Pro Forma
                                                                
Operating Margin -             9.9      %        19.7     %        -11.8    %
U.S. GAAP
Operating Margin -             19.6     %        26.9     %        8.5      %
Adjusted Pro Forma
                                                                
Effective Tax Rate -           46.6     %        42.7     %        47.5     %
U.S. GAAP
Effective Tax Rate -           38.0     %        37.9     %        38.0     %
Adjusted Pro Forma
                                                                
(a) Reconciliations of the key metrics from U.S. GAAP to Adjusted Pro Forma
are a derivative of the reconciliations of their components above.
(b) For Earnings Per Share purposes, Net Income Attributable to Evercore
Partners Inc. is reduced by $21 of accretion for the three months ended March
31, 2013, December 31, 2012 and March 31, 2012 related to the Company's
noncontrolling interest in Trilantic Capital Partners.
                                                             
                                                             

                                     A-4

                                                          
                                                                
EVERCORE PARTNERS INC.
U.S. GAAP RECONCILIATION TO ADJUSTED PRO FORMA
TRAILING TWELVE MONTHS
(dollars in thousands)
(UNAUDITED)
                    Consolidated
                      Twelve Months Ended
                      March 31,            December 31,         March 31,

                      2013                 2012                 2012
Net Revenues -        $  690,997           $  642,373           $  519,964
U.S. GAAP
Client Related           (17,146  )           (16,268  )           (10,313  )
Expenses (1)
Income from
Equity Method            3,223                4,852                2,904
Investments (2)
Interest
Expense on               7,988                7,955                7,848
Long-term Debt
(3)
Foreign
Exchange Losses
from Pan                1,683              -                  -        
Consolidation
(4)
Net Revenues -
Adjusted Pro          $  686,745          $  638,912          $  520,403  
Forma
                                                                
Compensation
Expense - U.S.        $  451,760           $  430,415           $  369,310
GAAP
Amortization of
LP Units and             (21,643  )           (20,714  )           (21,652  )
Certain Other
Awards (5)
IPO Related
Restricted               -                    -                    (11,389  )
Stock Unit
Awards (6)
Acquisition
Related                 (23,464  )          (28,163  )          (24,263  )
Compensation
Charges (7)
Compensation
Expense -             $  406,653          $  381,538          $  312,006  
Adjusted Pro
Forma
                                                                
Compensation
Ratio - U.S.             65.4     %           67.0     %           71.0     %
GAAP (a)
Compensation
Ratio -                  59.2     %           59.7     %           60.0     %
Adjusted Pro
Forma (a)
                                                                
                      Investment Banking
                      Twelve Months Ended
                      March 31,            December 31,         March 31,

                      2013                 2012                 2012
Net Revenues -        $  613,030           $  565,219           $  429,530
U.S. GAAP
Client Related           (16,720  )           (15,751  )           (9,914   )
Expenses (1)
Income from
Equity Method            800                  2,258                1,947
Investments (2)
Interest
Expense on              4,330              4,312              4,255    
Long-term Debt
(3)
Net Revenues -
Adjusted Pro          $  601,440          $  556,038          $  425,818  
Forma
                                                                
Compensation
Expense - U.S.        $  397,990           $  378,350           $  308,937
GAAP
Amortization of
LP Units and             (19,151  )           (18,364  )           (19,050  )
Certain Other
Awards (5)
IPO Related
Restricted               -                    -                    (8,906   )
Stock Unit
Awards (6)
Acquisition
Related                 (23,464  )          (28,163  )          (24,263  )
Compensation
Charges (7)
Compensation
Expense -             $  355,375          $  331,823          $  256,718  
Adjusted Pro
Forma
                                                                
Compensation
Ratio - U.S.             64.9     %           66.9     %           71.9     %
GAAP (a)
Compensation
Ratio -                  59.1     %           59.7     %           60.3     %
Adjusted Pro
Forma (a)
                                                                
(a) Reconciliations of the key metrics from U.S. GAAP to Adjusted Pro Forma
are a derivative of the reconciliations of their components above.
                                                          
                                                          

                                     A-5

                                                                     
                                                                                
EVERCORE PARTNERS INC.
U.S. GAAP SEGMENT RECONCILIATION TO ADJUSTED PRO FORMA
FOR THE THREE MONTHS ENDED MARCH 31, 2013
(dollars in thousands)
(UNAUDITED)
                     
                           Investment Banking Segment
                           Three Months Ended March 31, 2013
                                                                                Non-GAAP
                           U.S. GAAP            Adjustments                     Adjusted
                           Basis                                                Pro
                                                                                Forma Basis
Net Revenues:
Investment                 $ 131,383            $ (2,302  )       (1 )(2)       $ 129,081
Banking Revenue
Other Revenue,              213                1,088          (3)            1,301   
net
Net Revenues                131,596            (1,214  )                      130,382 
                                                                                
Expenses:
Employee
Compensation and             87,869               (9,855  )       (5 )(7)         78,014
Benefits
Non-compensation            27,052             (2,472  )       (5 )(8)        24,580  
Costs
Total Expenses              114,921            (12,327 )                      102,594 
                                                                                
Operating Income           $ 16,675            $ 11,113                       $ 27,788  
(a)
                                                                                
Compensation                 66.8    %                                            59.8    %
Ratio (b)
Operating Margin             12.7    %                                            21.3    %
(b)
                                                                                
                           Investment Management Segment
                           Three Months Ended March 31, 2013
                                                                                Non-GAAP
                           U.S. GAAP            Adjustments                     Adjusted
                           Basis                                                Pro
                                                                                Forma Basis
Net Revenues:
Investment
Management                 $ 21,539             $ 544             (1 )(2)       $ 22,083
Revenue
Other Revenue,              (1,713  )           2,602          (3 )(4)        889     
net
Net Revenues                19,826             3,146                         22,972  
                                                                                
Expenses:
Employee
Compensation and             14,203               (668    )       (5)             13,535
Benefits
Non-compensation            7,354              (124    )       (8)            7,230   
Costs
Total Expenses              21,557             (792    )                      20,765  
                                                                                
Operating Income           $ (1,731  )          $ 3,938                        $ 2,207   
(Loss) (a)
                                                                                
Compensation                 71.6    %                                            58.9    %
Ratio (b)
Operating Margin             (8.7    %)                                           9.6     %
(b)
                                                                                
(a) Operating Income (Loss) for U.S. GAAP excludes Income (Loss) from Equity Method
Investments.
(b) Reconciliations of the key metrics from U.S. GAAP to Adjusted Pro Forma are a
derivative of the reconciliations of their components above.



                                     A-6

                                                                       
                                                                                  
EVERCORE PARTNERS INC.
U.S. GAAP SEGMENT RECONCILIATION TO ADJUSTED PRO FORMA
FOR THE THREE MONTHS ENDED DECEMBER 31, 2012
(dollars in thousands)
(UNAUDITED)
                      
                             Investment Banking Segment
                             Three Months Ended December 31, 2012
                                                                                  Non-GAAP
                             U.S. GAAP            Adjustments                     Adjusted
                             Basis                                                Pro
                                                                                  Forma Basis
Net Revenues:
Investment                   $ 195,467            $ (4,327  )       (1 )(2)       $ 191,140
Banking Revenue
Other Revenue,                (612    )           1,085          (3)            473     
net
Net Revenues                  194,855            (3,242  )                      191,613 
                                                                                  
Expenses:
Employee
Compensation and               120,593              (10,392 )       (5 )(7)         110,201
Benefits
Non-compensation              30,073             (5,510  )       (5 )(8)        24,563  
Costs
Total Expenses                150,666            (15,902 )                      134,764 
                                                                                  
Operating Income             $ 44,189            $ 12,660                       $ 56,849  
(a)
                                                                                  
Compensation                   61.9    %                                            57.5    %
Ratio (b)
Operating Margin               22.7    %                                            29.7    %
(b)
                                                                                  
                             Investment Management Segment
                             Three Months Ended December 31, 2012
                                                                                  Non-GAAP
                             U.S. GAAP            Adjustments                     Adjusted
                             Basis                                                Pro
                                                                                  Forma Basis
Net Revenues:
Investment
Management                   $ 19,556             $ 306             (1 )(2)       $ 19,862
Revenue
Other Revenue,                (362    )           916            (3)            554     
net
Net Revenues                  19,194             1,222                         20,416  
                                                                                  
Expenses:
Employee
Compensation and               13,441               (654    )       (5 )            12,787
Benefits
Non-compensation              7,704              (246    )       (8 )           7,458   
Costs
Total Expenses                21,145             (900    )                      20,245  
                                                                                  
Operating Income             $ (1,951  )          $ 2,122                        $ 171     
(Loss) (a)
                                                                                  
Compensation                   70.0    %                                            62.6    %
Ratio (b)
Operating Margin               (10.2   %)                                           0.8     %
(b)
                                                                                  
(a) Operating Income (Loss) for U.S. GAAP excludes Income (Loss) from Equity Method
Investments.
(b) Reconciliations of the key metrics from U.S. GAAP to Adjusted Pro Forma are a derivative
of the reconciliations of their components above.



                                     A-7

                                                                       
                                                                                  
EVERCORE PARTNERS INC.
U.S. GAAP SEGMENT RECONCILIATION TO ADJUSTED PRO FORMA
FOR THE THREE MONTHS ENDED MARCH 31, 2012
(dollars in thousands)
(UNAUDITED)
                      
                             Investment Banking Segment
                             Three Months Ended March 31, 2012
                                                                                  Non-GAAP
                             U.S. GAAP                                            Adjusted
                             Basis                Adjustments                     Pro
                                                                                  Forma
                                                                                  Basis
Net Revenues:
Investment                   $ 84,495             $ 125             (1 )(2)       $ 84,620
Banking Revenue
Other Revenue,                (710    )           1,070          (3)            360    
net
Net Revenues                  83,785             1,195                         84,980 
                                                                                  
Expenses:
Employee
Compensation and               68,229               (13,767 )       (5 )(7)         54,462
Benefits
Non-compensation              26,854             (3,843  )       (5 )(8)        23,011 
Costs
Total Expenses                95,083             (17,610 )                      77,473 
                                                                                  
Operating Income             $ (11,298 )          $ 18,805                       $ 7,507  
(Loss) (a)
                                                                                  
Compensation                   81.4    %                                            64.1   %
Ratio (b)
Operating Margin               (13.5   %)                                           8.8    %
(b)
                                                                                  
                             Investment Management Segment
                             Three Months Ended March 31, 2012
                                                                                  Non-GAAP
                             U.S. GAAP                                            Adjusted
                             Basis                Adjustments                     Pro
                                                                                  Forma
                                                                                  Basis
Net Revenues:
Investment
Management                   $ 19,764             $ 624             (1 )(2)       $ 20,388
Revenue
Other Revenue,                (751    )           904            (3)            153    
net
Net Revenues                  19,013             1,528                         20,541 
                                                                                  
Expenses:
Employee
Compensation and               12,498               (526    )       (5)             11,972
Benefits
Non-compensation              7,360              (215    )       (8)            7,145  
Costs
Total Expenses                19,858             (741    )                      19,117 
                                                                                  
Operating Income             $ (845    )          $ 2,269                        $ 1,424  
(Loss) (a)
                                                                                  
Compensation                   65.7    %                                            58.3   %
Ratio (b)
Operating Margin               (4.4    %)                                           6.9    %
(b)
                                                                                  
(a) Operating Income (Loss) for U.S. GAAP excludes Income (Loss) from Equity Method
Investments.
(b) Reconciliations of the key metrics from U.S. GAAP to Adjusted Pro Forma are a
derivative of the reconciliations of their components above.
                                          
                                          

                                     A-8

Notes to Unaudited Condensed Consolidated Adjusted Pro Forma Financial Data

For further information on these Adjusted Pro Forma adjustments, see page A-2.

        Client related expenses, expenses associated with revenue sharing
(1)   engagements with third parties and provisions for uncollected
        receivables, have been reclassified as a reduction of revenue in the
        Adjusted Pro Forma presentation.
        
(2)     Income from Equity Method Investments has been reclassified to Revenue
        in the Adjusted Pro Forma presentation.
        
        Interest Expense on Long-term Debt is excluded from the Adjusted Pro
(3)     Forma Investment Banking and Investment Management segment results and
        is included in Interest Expense in the segment results on a U.S. GAAP
        Basis.
        
        Release of foreign exchange losses related to the consolidation of
(4)     Pan, previously accounted for under the equity method, are excluded
        from the Adjusted Pro Forma presentation.
        
        Expenses incurred from the modification of Evercore LP Units and
(5)     related awards, which primarily vest over a five-year period, are
        excluded from the Adjusted Pro Forma presentation.
        
        Expenses incurred from the vesting of IPO related restricted stock
(6)     unit awards relating to the June 2011 offering are excluded from the
        Adjusted Pro Forma presentation.
        
        Expenses for deferred share-based and cash consideration and retention
(7)     awards associated with the acquisition of Lexicon, as well as base
        salary adjustments for Lexicon employees for the period preceding the
        acquisition, are excluded from the Adjusted Pro Forma presentation.
        
(8)     Non-compensation Costs on an Adjusted Pro Forma basis reflect the
        following adjustments:
        
        

                                     A-9

                                                                                               
                                                                                                              
                             Three Months Ended March 31, 2013
                             U.S.         Adjustments            Total           Investment         Investment
                             GAAP                                          Segments        Banking            Management
Occupancy and                $ 8,759          $  -                         $ 8,759         $  7,088           $   1,671
Equipment Rental
Professional                   7,852             (569   )       (1 )         7,283            5,378               1,905
Fees
Travel and                     7,181             (1,703 )       (1 )         5,478            4,899               579
Related Expenses
Communications
and Information                3,420             1              (1 )         3,421            2,872               549
Services
Depreciation and               3,558             (82    )       (8a)         3,476            1,686               1,790
Amortization
Acquisition and                58                -                           58               -                   58
Transition Costs
Other Operating               3,578            (243   )       (1 )        3,335           2,657              678
Expenses
Total
Non-compensation             $ 34,406         $  (2,596 )                  $ 31,810        $  24,580          $   7,230
Costs
                                                                                                              
                             Three Months Ended December 31, 2012
                             U.S.             Adjustments                  Total           Investment         Investment
                             GAAP                                          Segments        Banking            Management
Occupancy and                $ 8,400          $  -                         $ 8,400         $  6,964           $   1,436
Equipment Rental
Professional                   9,426             (2,832 )       (1 )         6,594            4,609               1,985
Fees
Travel and                     7,290             (1,478 )       (1 )         5,812            5,322               490
Related Expenses
Communications
and Information                2,714             (47    )       (1 )         2,667            2,192               475
Services
Depreciation and               3,964             (406   )       (8a)         3,558            1,902               1,656
Amortization
Acquisition and                692               -                           692              -                   692
Transition Costs
Other Operating               5,291            (993   )       (1 )        4,298           3,574              724
Expenses
Total
Non-compensation             $ 37,777         $  (5,756 )                  $ 32,021        $  24,563          $   7,458
Costs
                                                                                                              
                             Three Months Ended March 31, 2012
                             U.S.             Adjustments                  Total           Investment         Investment
                             GAAP                                          Segments        Banking            Management
Occupancy and                $ 8,245          $  -                         $ 8,245         $  6,594           $   1,651
Equipment Rental
Professional                   7,056             (487   )       (1 )         6,569            4,698               1,871
Fees
Travel and                     6,733             (1,124 )       (1 )         5,609            5,036               573
Related Expenses
Communications
and Information                2,788             (67    )       (1 )         2,721            2,220               501
Services
Depreciation and               5,362             (2,328 )       (8a)         3,034            1,350               1,684
Amortization
Acquisition and                73                -                           73               19                  54
Transition Costs
Other Operating               3,957            (52    )       (1 )        3,905           3,094              811
Expenses
Total
Non-compensation             $ 34,214         $  (4,058 )                  $ 30,156        $  23,011          $   7,145
Costs
                                                                                                                  
                                                                                                                  

       
          The exclusion from the Adjusted Pro Forma presentation of expenses
(8a)      associated with amortization of intangible assets acquired in the
          Protego, Braveheart, SFS and Lexicon acquisitions.
          
          Evercore is organized as a series of Limited Liability Companies,
          Partnerships, a C-Corporation and a Public Corporation and
          therefore, not all of the Company’s income is subject to corporate
          level taxes. As a result, adjustments have been made to decrease
          Evercore’s effective tax rate to approximately 38% for the three
          months ended March 31, 2013. These adjustments assume that the
(9)       Company has adopted a conventional corporate tax structure and is
          taxed as a C-Corporation in the U.S. at the prevailing corporate
          rates, that all deferred tax assets relating to foreign operations
          are fully realizable within the structure on a consolidated basis
          and that, historically, adjustments for deferred tax assets related
          to the ultimate tax deductions for equity-based compensation awards
          are made directly to stockholders’ equity.
          
          Reflects adjustment to eliminate noncontrolling interest related to
(10)      all Evercore LP partnership units which are assumed to be converted
          to Class A common stock in the Adjusted Pro Forma presentation.
          
          Reflects adjustments to include the dilutive effect of the Warrants
(11a)     and Unvested Restricted Stock Units – Service Based, which have been
          excluded for U.S. GAAP as a result of the Company having a loss for
          the period.
          
          Assumes the vesting of all Evercore LP partnership units and IPO
          related restricted stock unit awards in the Adjusted Pro Forma
          presentation. In the computation of outstanding common stock
(11b)     equivalents for U.S. GAAP net income per share, the unvested
          Evercore LP partnership units are anti-dilutive and the IPO related
          restricted stock unit awards are excluded from the calculation prior
          to the June 2011 offering.
          
A-10
          
          Assumes the vesting of all Acquisition Related Share Issuance and
          Unvested Restricted Stock Units granted to Lexicon employees in the
(11c)     Adjusted Pro Forma presentation. In the computation of outstanding
          common stock equivalents for U.S. GAAP, these Shares and Restricted
          Stock Units are reflected using the Treasury Stock Method.
          

                                     A-11

Contact:

Investor:
Evercore Partners
Robert B. Walsh, 212-857-3100
Chief Financial Officer
or
Media:
The Abernathy MacGregor Group, for Evercore Partners
Carina Davidson, 212-371-5999
 
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