LONDON, 18 August 2008 - The Board of Panmure Gordon & Co is pleased to announce that EFG-Hermes, the premier investment bank in the Middle East and North Africa region, has agreed to subscribe for 9.97% of the existing share capital of Panmure Gordon through the placing of 6,732,675 million new shares for cash by Panmure Gordon to EFG-Hermes at a price of 47p per share. In welcoming EFG-Hermes as a shareholder in the company Tony Caplin, Panmure Gordon chairman said: "The markets we operate in are becoming more international and the opportunities available through a business relationship with EFG-Hermes are compelling. The ability to access EFG-Hermes' clients for our UK and US research and investment banking products is exciting and will give us a major competitive advantage. We see considerable business opportunities in providing reciprocal access for EFG-Hermes to our client base in the UK, Europe and the US. We also believe there are opportunities to develop new business streams. I am delighted to welcome EFG-Hermes as a new substantial shareholder in the business." Hassan Heikal, EFG-Hermes chief executive officer said: "We have great respect for the business and the Panmure Gordon management team and see an opportunity to develop a partnership that can drive very real benefits for our respective clients. For EFG-Hermes, this only strengthens our ability to service our Middle Eastern client base which will continue to be the focus of our strategy.” Application will be made to the London Stock Exchange for 6,732,675 ordinary 4p shares to be admitted to trading on AIM. It is expected that the shares will be admitted to trading on 21 August 2008. The shares will, when issued, rank pari passu in all respects with the existing ordinary shares. Following admission the enlarged issued share capital of the Company will be 74,273,124 ordinary shares and the EFG-Hermes holding will represent an interest of 9.06% in the voting rights attached to the enlarged issued share capital. The subscription proceeds will be used for general corporate purposes. Enquiries: Panmure Gordon & Co: Nathaniel Webb, Communications Manager: +44 20 7614 8333 EFG-Hermes: Preeti Bhandarkar, Hill & Knowlton UAE, +971 4 3344 930 About Panmure Gordon & Co Founded in 1876, Panmure Gordon & Co (PMR.L) is a leading independent mid-cap investment bank based in London. Encompassing its US franchise, ThinkPanmure LLC, the Group employs approximately 280 professionals across the US, the UK and Nyon, Switzerland, offering a blend of transatlantic financial services including research, sales and trading, wealth management and asset management. About EFG-Hermes Established in 1984, EFG-Hermes is the leading investment bank in the Arab world. The firm specializes in Investment Banking, Asset Management, Private Equity, Securities Brokerage and Research. With listings on both the London and Egyptian stock exchanges, EFG-Hermes currently boasts a market capitalization in excess of US$3.2 billion. EFG-Hermes has on the ground operations in Egypt, UAE, KSA, Lebanon, Qatar and Oman and with approximately 870 employees from more than 30 nationalities serves a considerable and diversified client base from the Middle East, Asia and North Africa to Europe and the United States. Its clients include governments, corporations, financial institutions, high net worth individuals and retail customers.