Kim S. Fennebresque, Chmn And CEO Of Cowen Group, Retires<@SM>After 10 Years >COWN

DOW JONES NEWSWIRES

Cowen Group Inc. (COWN) named Executive Vice Chairman David M. Malcolmpresident and chief executive, assuming the chief executive title from retiringKim S. Fennebresque, who becomes nonexecutive chairman.

In after-hours trading, shares of the New York investment bank traded recentlyat $6.89, down from its closing price Tuesday of $7.

-Karen M. Lee; 201-938-5400; Asknewswires@dowjones.com

(END) Dow Jones Newswires 03-04-08 1700ET Copyright (c) 2008 Dow Jones & Company, Inc.

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