Press Release

February 25, 2009

RAYMOND JAMES FINANCIAL, INC.
REPORTS JANUARY 2009 OPERATING DATA

ST. PETERSBURG, Fla. – In an effort to provide timely information to enable analysts and investors to stay better informed about the general trends in our major business segments, we are releasing selected operating statistics. Due to the limited nature of this data, a consistent correlation to earnings should not be assumed.

“As I predicted, commissions and fees dropped 25 percent as assets under administration declined by a similar amount. Fixed Income institutional sales continued to record good increases, contrasted to the general trend. In addition, Raymond James Bank benefited from loan growth and abnormally high interest spreads as discussed in last quarter’s report. I continue to forecast weak results in the securities business, with the exception of Fixed Income and favorable banking comparisons with last year’s results,” stated Chairman and CEO Thomas A. James.

Raymond James Financial (NYSE-RJF) is a Florida-based diversified holding company providing financial services to individuals, corporations and municipalities through its subsidiary companies. Its three principal wholly owned broker/dealers (Raymond James & Associates, Raymond James Financial Services and Raymond James Ltd.) and Raymond James Investment Services Limited, a majority-owned independent contractor subsidiary in the United Kingdom, have a total of more than 5,000 financial advisors serving approximately 1.8 million accounts in 2,200 locations throughout the United States, Canada and overseas. In addition, total client assets are currently $173 billion, of which approximately $26 billion are managed by the firm’s asset management subsidiaries.

To the extent that Raymond James makes or publishes forward-looking statements (regarding economic conditions, management expectations, strategic objectives, business prospects, anticipated expense savings, financial results, anticipated results of litigation and regulatory proceedings, adequacy of loan loss provisions and other similar matters), a variety of factors, many of which are beyond Raymond James’ control, could cause actual results and experiences to differ materially from the expectations and objectives expressed in these statements. These factors are described in Raymond James’ 2008 annual report on Form 10-K  which is available on raymondjames.com and sec.gov.

(1) Includes all securities commissions and fees generated by our financial advisors, both private client and institutional.

(2) This is the primary revenue driver for the asset management segment. Investment advisory fees are based on a percentage of assets at either a single point in time within the quarter, typically the beginning or end of a quarter, or the “average daily” balances of assets under management.

(3) This is only one of several key revenue sources for the capital markets segment; other key revenue sources include institutional sales commissions and transaction fees.

(4) These illustrate the progress made in growing the use of Raymond James Bank as a cash sweep option for brokerage clients, and the related lending activity, thus increasing the company’s net interest earnings.

(5) Client assets under administration now include $7 billion in balances related to direct mutual funds which were not previously reported.

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For more information, contact Anthea Penrose at 727-567-2824.
Please visit the Raymond James Press Center at raymondjames.com/media.