Press Release

April 10, 2008

RAYMOND JAMES RESPONDS TO CLASS ACTION
LAWSUIT ON AUCTION RATE SECURITIES

ST. PETERSBURG, Fla. – Raymond James Financial, Inc. (NYSE-RJF) and its broker/dealer subsidiaries, Raymond James & Associates (member NYSE/SIPC) and Raymond James Financial Services, Inc. (member FINRA/SIPC), were named as defendants in a purported class action lawsuit Tuesday involving the sale of auction rate securities to the investing public. The complaint is the latest in a series filed by the same law firm against nine other broker/dealers, all containing identical allegations, with no specific factual assertions relating to Raymond James, its advisors or its associates.

Raymond James intends to seek prompt dismissal of the complaint due to its failure to state an actionable claim.

Raymond James Financial is a Florida-based diversified holding company providing financial services to individuals, corporations and municipalities through its subsidiary companies. Its three principal wholly owned broker/dealers (Raymond James & Associates, Raymond James Financial Services and Raymond James Ltd.) and Raymond James Investment Services Limited, a majority-owned independent contractor subsidiary in the United Kingdom,

have a total of more than 4,770 financial advisors serving approximately 1.6 million accounts in

2,200 locations throughout the United States, Canada and overseas. In addition, total client assets are currently $210 billion, of which approximately $35.5 billion are managed by the firm’s asset management subsidiaries.

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For more information, contact Anthea Penrose at 727-567-2824

Please visit the Raymond James Press Center at raymondjames.com/media.