Gleacher & Company Announces Closing of ClearPoint Sale

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Gleacher & Company Announces Closing of ClearPoint Sale

NEW YORK--(BUSINESS WIRE)-- Gleacher & Company, Inc. (NAS: GLCH) today announced that it has closed the sale of substantially all of the assets of its ClearPoint subsidiary to Homeward Residential, Inc., a wholly owned subsidiary of Ocwen Financial Corporation (NYS: OCN) pursuant to an agreement previously announced.

About Gleacher & Company


Gleacher & Company, Inc. (NAS: GLCH) is an independent investment bank that provides corporate and institutional clients with strategic and financial advisory services, including merger and acquisition, restructuring, recapitalization, and strategic alternative analysis, as well as capital raising, research based investment analysis, and securities brokerage services. For more information, please visit www.gleacher.com.

Forward Looking Statements

This press release contains "forward-looking statements." These statements are not historical facts but instead represent the Company's belief regarding future events, many of which, by their nature, are inherently uncertain and outside of the Company's control. The Company's forward-looking statements are subject to various risks and uncertainties, including the conditions of the securities markets, generally, and demand for the Company's services within those markets and other risks and factors identified from time to time in the Company's filings with the Securities and Exchange Commission. It is possible that the Company's actual results and financial condition may differ, possibly materially, from the anticipated results and financial condition indicated in its forward-looking statements. You are cautioned not to place undue reliance on any forward-looking statements. The Company does not undertake to update any of its forward-looking statements.



Investors
Gleacher & Company, Inc.
Thomas J. Hughes, 212-273-7100
Chief Executive Officer
or
Media
Rubenstein Associates
Marcia Horowitz, 212-843-8014

KEYWORDS:   United States  North America  New York

INDUSTRY KEYWORDS:

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