Press Release

Release No. 0906-05
September 26, 2006

RAYMOND JAMES FINANCIAL, INC.
REPORTS AUGUST 2006 OPERATING DATA

ST. PETERSBURG, Fla. – In an effort to provide timely information to enable analysts and investors to stay better informed about the general trends in our major business segments, we are releasing selected operating statistics. Due to the limited nature of this data, a consistent correlation to earnings should not be assumed.

“While commissions/fees and revenues in general suffered from August’s continuing lack of direction in the stock market, revenue comparisons to last year were slightly favorable in August. Activity in Investment Banking continued to be depressed but has shown some signs of resurgence in September,” stated Chairman and CEO Thomas A. James.

“September financial results will be impacted by a pre-tax charge of approximately $5 million in excess of reserves for a global agreement in principle covering all but one of the remainder of the Lapin matters. This situation has been discussed in our prior SEC filings.”

Raymond James Financial (NYSE-RJF) is aFlorida-based diversifiedholding company providing financial services to individuals, corporations and municipalities through itssubsidiary companies. Its three wholly ownedbroker/dealers, Raymond James & Associates, Raymond James Financial Services and Raymond James Ltd.have more than 4,800 financial advisors serving 1.4 million accounts in 2,200 locations throughout the United States, Canadaand overseas. Total client assets are approximately $177 billion. Approximately $31.6 billion are managed by the firm’s asset management subsidiaries.

To the extent that Raymond James makes or publishes forward-looking statements (regarding management expectations, strategic objectives, business prospects, anticipated expense savings, financial results, anticipated results of litigation and regulatory proceedings, and other similar matters), a variety of factors, many of which are beyond Raymond James’ control, could cause actual results and experiences to differ materially from the expectations and objectives expressed in these statements. These factors are described in Raymond James’ 2005 annual report on Form 10-K, which is available on raymondjames.com and sec.gov.

(1) Includes all securities commissions and fees generated by our financial advisors, both private client and institutional, except for certain less significant international joint ventures.

(2) This is the primary revenue driver for the asset management segment. Investment advisory fees are based on a percentage of assets at either a single point in time within the quarter, typically the beginning or end of a quarter, or the “average daily” balances of assets under management.

(3) This is only one of several key revenue sources for the capital markets segment; other key revenue sources include institutional sales commissions and transaction fees.

(4) The decline in assets under management from June is due to the movement of approximately $1 billion from the company’s proprietary money market fund to Raymond James Bank.

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For more information, contact Tracey Bustamante at 727-567-2824.
Please visit the Raymond James Press Center at raymondjames.com/media.