FBR Capital Markets Initiates Coverage of European Securities

ARLINGTON, Virginia and LONDON - Jonathan Tyce Joins Friedman, Billings, Ramsey International, Ltd. to Initiate Coverage of European Financial Institutions

FBR Capital Markets Corporation (Nasdaq: FBCM), a leading investment bank serving the middle market, announced today that Friedman, Billings, Ramsey International, Ltd. (FBRIL), the company’s international corporate finance, institutional brokerage and research subsidiary has officially launched its European equity research platform. The firm also announced today that Jonathan Tyce has joined FBRIL as Managing Director and Head of European Equity Research to initiate coverage of European financial institutions.

“The addition of our European equity research platform greatly enhances our portfolio of products and services and will create tremendous value for our global client base,” said Timothy H. Burns, President and CEO of FBRIL. “The European team will be an important complement to our existing and exceptionally well-regarded U.S.-based research group and will deepen our client reach and support, generate additional revenue streams and reinforce our international franchise.”

With more than 10 years of both buy- and sell-side experience covering global financials, Jonathan Tyce joins FBRIL from Fox-Pitt, Kelton where he served as European Banking Strategist. Prior to that he worked for J O Hambro Capital Management Group where he launched a pan-European Financials long-short fund. Previous employment includes tenure at American Express Asset Management and First State Investment Management where he also specialized in global financials. Mr. Tyce received a Master of Arts with honors from St. Anne’s College, Oxford University.

“As Head of European Equity Research, Jonathan’s breadth of experience and analytical insight will be crucial as he molds and expands our research platform,” said John Mason, Director of FBRIL Sales & Trading. “His expertise in European financials will serve as a foundation for our global financial institutions research product as we help navigate clients through obstacles in the current market.”

FBR Capital Markets Corporation (Nasdaq: FBCM) provides investment banking, merger and acquisition advisory, institutional brokerage and research services through its subsidiary FBR Capital Markets & Co. Those services provided in the U.K. and Europe are provided by Friedman, Billings, Ramsey International, Ltd. FBR Capital Markets focuses capital and financial expertise on seven industry sectors: consumer; diversified industrials; energy & natural resources; financial institutions; insurance; real estate; and technology, media & telecom. Asset management services are provided by FBR Investment Management, Inc., and mutual funds are provided by FBR Fund Advisers, Inc.; both companies are subsidiaries of FBR Capital Markets Corporation. FBR Capital Markets is headquartered in the Washington, D.C. metropolitan area with offices throughout the United States and in London. For more information, please visit www.fbrcapitalmarkets.com.

Source: FBR Capital Markets Corporation

Media, +1-703-469-1004, media at fbr.com, or Investors, Bradley J. Wright, +1-703-469-1080, fbcmir at fbr.com