Rodman & Renshaw, a wholly owned
subsidiary of Rodman & Renshaw Capital Group, has signed a Memorandum of
Understanding (MoU) with the Mineral Resources Authority of Mongolia (MRAM) for
the creation of a partnership to aid the development of Mongolia’s
mining sector. Rodman and MRAM will cooperate in efforts aimed at improving
Mongolian mining companies’ understanding of issues pertaining to mining
financing and their access to outside capital sources. The parties will also
work to facilitate efficient and transparent flows of information and knowledge
in the country’s overall mineral sector.

Under the terms of the MOU, MRAM and Rodman
plan to jointly organize their inaugural event in June of 2010 in Ulaanbaatar, Mongolia. The investment seminar
will gather an audience of over 300 mining companies. Several additional events
and activities are expected to take place this year within the framework of the
partnership.

D. Batkhuyag, Chairman of MRAM, stated, “The
partnership with Rodman fits well with our objectives for the development of Mongolia’s
mining sector which is characterized by a number of well-known world class
assets, as well as a multitude of earlier stage mineral projects. Our joint
efforts will be aimed to foster the growth of our domestic mining companies.”

“We are honored and excited to enter into a
partnership with MRAM. Mongolia
is strategically located and is emerging as a key new resource supplier in the
region. We believe that our dual expertise in servicing growth companies in Asia and mining reinforce our ability to fulfill the
objectives of this partnership,” commented 
Edward Rubin, Chief Executive Officer of Rodman & Renshaw.

Rodman & Renshaw is a full-service
investment bank dedicated to providing corporate finance, strategic advisory
and related services to public and private companies across multiple sectors
and regions. Rodman also provides research and sales and trading services to
institutional investors. Rodman is the leader in the PIPE (private investment
in public equity) and RD (registered direct offering) transaction markets.
According to Sagient Research Systems, Rodman has been ranked the #1 Placement
Agent in terms of deal volume of PIPE and RD financing transactions completed
every year since 2005.