Rodman & Renshaw Provides Clarification Regarding “Shelf” Registration Statement Filed on October 21, 2009

Rodman & Renshaw Capital Group, Inc. (NASDAQ: RODM) clarified today that the Shelf Registration Statement it filed with the U.S. Securities and Exchange Commission (SEC) yesterday, covering the prospective sale by the Company of up to $75 million of securities, from time to time, and the prospective sale of up to three million shares of common stock by specified selling stockholders, from time to time, does not include any specific information with respect to the price at which any such securities may be sold. The reference to the selling stockholders selling “up to 3 million shares they own at a maximum price of $5.415 a share” in a media story issued earlier today was an erroneous reference to the historical price of the Company’s common stock used only to calculate the registration fee payable to the SEC in compliance with Rule 457(c) under the Securities Act of 1933, and has no direct relationship to the prices at which selling stockholders may sell shares, from time to time, following the Registration Statement being declared effective. Pricing in connection with any sales of securities that may be made pursuant to the Registration Statement, once declared effective, will be set by the Company or the selling stockholders, as the case may be, or negotiated by the Company or the selling stockholders, as the case may be, with underwriters, selling agents, or third party purchasers, if applicable, and, if required, will be included in a prospectus supplement with respect to any such sale.

A Registration Statement relating to the securities described in this press release has been filed with the SEC but has not been declared effective. The securities covered by the Registration Statement may not be sold nor may offers to buy any of the securities be accepted prior to the time the Registration Statement becomes effective. In addition, the securities may not be sold or offered in any state unless the offer and sale of such securities has qualified in such state. This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in the Registration Statement. Such offer to sell or solicitation of an offer to buy may only be made by a prospectus.

About Rodman & Renshaw

Rodman & Renshaw Capital Group, Inc. is a holding company with a number of direct and indirect subsidiaries, including Rodman & Renshaw, LLC.

Rodman & Renshaw (NASDAQ: RODM) is a full-service investment bank dedicated to providing corporate finance, strategic advisory and related services to public and private companies across multiple sectors and regions. The company also provides research and sales and trading services to institutional investors. Rodman is the leader in the PIPE (private investment in public equity) and RD (registered direct offering) transaction markets. Rodman has been ranked the #1 Placement Agent in terms of the aggregate number of PIPE and RD financing transactions completed every year since 2005 and 2009 year-to-date as ranked by Sagient Research Systems. For more information visit Rodman & Renshaw on the Internet at www.rodm.com.

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