Rodman & Renshaw Capital Group, Inc. (NASDAQ: RODM - News), today announced that it has completed the acquisition of COSCO Capital Management LLC and its related companies, a leading private investment bank focused on the oil and gas sectors in the United States and Canada. Rodman previously announced that it had entered into definitive agreements to acquire the COSCO companies on May 12, 2008.

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, Rodman Principal Investments, LLC and Miller Mathis & Co., 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

About COSCO Capital Management LLC

COSCO Capital Management LLC is a leading specialist in North America on oil and gas investing and private placement financings for private and public energy companies. Since the beginning of 2000, COSCO has assisted oil and gas companies to access in excess of $1.3 billion of capital through private placements to approximately thirty professionally managed, closed end funds considered the preeminent financial investors in the private energy sector. In addition, over this same period, COSCO has advised a dozen or so professionally managed capital providers on current or prospective investments and assisted them with specific transactions amounting to over $500MM. COSCO is headquartered in New York City with branch offices in Houston, Hartford, and Calgary, Canada.