TWPG Thomas Weisel Prtns Grp (MM)

Thomas Weisel Partners Group, Inc. (NASDAQ: TWPG), a global growth-focused investment bank, today announced that shareholders approved the amendment to increase the firm's Equity Incentive Plan by 6,000,000 shares. The additional authorized shares allow the firm flexibility with regards to its compensation practices over the next several years.

The management team is committed to managing the firm's compensation expense and the dilution effect on existing shareholders of shares issued as a component of compensation. The firm intends to use the minimum amount of Restricted Stock Units required for 2008 bonus purposes to retain key revenue producing talent on the platform. Over the course of 2008, the firm has repurchased 1,544,286 shares in the market and intends to use these shares to settle future vesting obligations.

"During these difficult times, the firm has prudently managed its compensation structure and the dilution effect of employee share-based compensation and will continue to do so with the additional shares authorized under the Equity Incentive Plan," stated Thomas W. Weisel, Chairman and CEO of Thomas Weisel Partners.

The firm recently completed an additional 10% downsizing in headcount as a result of continued headwinds in the capital markets. These reductions, in addition to other previously announced cuts in compensation and non-compensation expenses, enable the firm to operate at cash break-even on annual revenues of approximately $200 million. The firm will provide details on its fourth quarter earnings call scheduled for Wednesday, February 11, 2009 at 5:00 p.m. Eastern time, 2:00 p.m. Pacific time.

"We have been acutely focused on taking the necessary steps to restore profitability, and in the mean time, reach break-even on a cash basis as we continue to face headwinds during this challenging capital markets downturn. These measures, along with our current cost structure, will allow us to endure lower than historic industry revenue levels until the capital markets stabilize and we begin to realize revenue growth," said Mr. Weisel.

About Thomas Weisel Partners Group, Inc.

Thomas Weisel Partners Group, Inc. is an investment bank, founded in 1998, focused principally on the growth sectors of the economy. Thomas Weisel Partners Group, Inc. generates revenues from three principal sources: investment banking, brokerage and asset management. The investment banking group is comprised of two disciplines: corporate finance and strategic advisory. The brokerage group provides equity and convertible debt securities sales and trading services to institutional investors, and offers brokerage, advisory and cash management services to high-net-worth individuals and corporate clients. The asset management group consists of: private equity, public equity and distribution management. Thomas Weisel Partners is headquartered in San Francisco with additional offices in Baltimore, Boston, Calgary, Chicago, Cleveland, Denver, New York, Portland, Silicon Valley, Toronto, London and Zurich. For more information, please visit www.tweisel.com.

Investor Relations Contact: Sarah Anderson 415-364-2500 investorrelations@tweisel.com Media Contact: Crystal Odessky 415-364-2500 codessky@tweisel.com