Press Release

May 23, 2008

RAYMOND JAMES FINANCIAL BOARD
DECLARES QUARTERLY DIVIDEND,
APPOINTS AUDIT COMMITTEE CHAIRMAN

ST. PETERSBURG, Fla. – The Raymond James Financial Board of Directors Thursday authorized a quarterly cash dividend on its common shares of $.11 per share, payable July 16 to shareholders of record July 1, 2008. This is the 22nd consecutive year in which Raymond James has paid its shareholders a dividend.

Additionally, the board appointed current independent board director and chairman of Korn/Ferry International, Paul Reilly, chairman of the Raymond James Audit Committee.

About Raymond James Financial
Raymond James Financial (NYSE-RJF) 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. have more than 4,850 financial advisors serving 1.7 million accounts in 2,200 locations throughout the United States, Canada and overseas. In addition, total client assets are approximately $209 billion, of which approximately $35.4 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.