Rodman & Renshaw Capital Group, Inc. (NASDAQ: RODM - News), today announced that Senior Biotechnology Analyst Dr. Elemer Piros has been named one of the “World’s Top Analysts” by the Financial Times (“FT”). The FT, in a May 16, 2008 report and survey published in conjunction with StarMine, examined the 2007 performance of research analysts from Asia, Europe and the US, and honored as the “World’s Best” the top three stock pickers and earnings estimators in each industry.

Dr. Piros, who specializes in biotechnology, was recognized as one of the top three analysts in the entire Pharmaceutical category.

Michael Lacovara, Chief Executive Officer, commented: “The FT and StarMine have confirmed what Rodman and its clients have long known – Elemer Piros is a leading light in biotech research, a committed and insightful analyst, and a cornerstone of our distinguished life science research team.”

About Rodman & Renshaw Capital Group, Inc.

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

Rodman & Renshaw, LLC is a full service investment bank dedicated to providing investment banking services to companies that have significant recurring capital needs due to their growth and development strategies, along with research and sales and trading services to institutional investor clients that focus on such companies. Rodman is a leading investment banking firm to the biotechnology sector, a capital intensive market segment, as well as a leader in the PIPE (private investment in public equity) and RD (registered direct placements) transaction markets.

MEMBER FINRA, SIPC

Cautionary Note Regarding Forward Looking Statements

This press release contains forward-looking statements regarding future events and financial performance. In some cases, you can identify these statements by words such as “may,” “might,” “will,” “should,” “except,” “plan,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” or “continue,” the negative of these terms and other comparable terminology. These statements involve a number of risks and uncertainties and are based on numerous assumptions involving judgments with respect to future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the Company’s control. There are or may be important factors that could cause our actual results to materially differ from our historical results or from any future results expressed or implied by such forward looking statements.

These factors include, but are not limited to, those discussed under the section entitled “Risk Factors” in our Annual Report on Form 10-K, filed March 14, 2008, which is available at the Securities and Exchange Commission website at www.sec.gov. The forward-looking statements in this press release are based upon management's reasonable belief as of the date hereof. The Company undertakes no obligation to revise or update publicly any forward-looking statements for any reason.