Press Release

RJO Continues Expanding Institutional Sales Force in NY Veteran Sugar Trading Group Joins RJO from BNP

Chicago, May 9, 2009

R.J. O’Brien & Associates (RJO) announced today that sugar trading veteran Jeffrey Bauml and his group have joined RJO from BNP Paribas, effective immediately. Mr. Bauml has over 25 years of advisory and sugar trading experience. Mr. Bauml will report to Joseph Murphy, Executive Vice President of R.J. O’Brien & Associates and President of the Americas, who is also in New York.

"We welcome Jeff and his team to RJO,” said Mr. Murphy. "Jeff will be an important member of the commodities team we are building out in New York, as we seek to further expand into the institutional investor market.” In February, Tim Horan, a 25 year veteran of institutional commodity investing, joined RJO from MF Global where he was a soft commodity specialist.

"Jeff and his group will broaden RJO’s already strong presence in soft commodities," said Gerry Corcoran, Chief Executive Officer. “He has an extraordinary track record of providing superior advice and execution to his institutional clients, which include some of the biggest and most renowned names in the international hedge fund industry and the agribusiness community."

"Sugar is becoming an increasingly important part of the soft commodities market as institutions increasingly look to manage their costs and risk in these difficult times," said Mr. Bauml. "RJO’s reputation for superior risk management, as well as superior client service, is unsurpassed and my team and I are delighted to join them."

Chris Cody, Mr. Bauml's colleague of 10 years, joins him at RJO. Mr. Cody has 25 years of experience in commodities, with a particular focus on sugar trading. Previous to that, he worked in the freight and chartering industry.

Mr. Bauml is well known in the sugar futures business. Most recently he served as Managing Director of soft commodities trading at BNP Paribas. Prior to joining BNP in December 2005, he spent 15 years at Refco where he was Senior Vice President of sugar trading. He started his career at Philipp Brothers, at one time the world’s largest commodities trading firm and which later became part of Salomon Brothers, and spent 16 years there leaving as Senior Vice President of Soft Commodities. Mr. Bauml holds a BBA in International Business from Baruch College.