<SUBMISSION>
<ACCESSION-NUMBER>0000720672-09-000031
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>2
<PERIOD>20090309
<ITEMS>7.01
<ITEMS>9.01
<FILING-DATE>20090309
<DATE-OF-FILING-DATE-CHANGE>20090309
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>STIFEL FINANCIAL CORP
<CIK>0000720672
<ASSIGNED-SIC>6211
<IRS-NUMBER>431273600
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>001-09305
<FILM-NUMBER>09666589
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>ATTN: JAMES G. LASCHOBER
<STREET2>501 N. BROADWAY
<CITY>ST. LOUIS
<STATE>MO
<ZIP>63102-2102
<PHONE>314-342-2000
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>ATTN: JAMES G. LASCHOBER
<STREET2>501 N. BROADWAY
<CITY>ST. LOUIS
<STATE>MO
<ZIP>63102-2102
</MAIL-ADDRESS>
</FILER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>r8k_20090309edgar1.htm
<DESCRIPTION>FORM 8-K DATED MARCH 9, 2009
<TEXT>
<html>

<head>

<title>1</title>


</head>

<body lang=EN-US>



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<p class=MsoNormal align=right style='text-align:right;border:none;padding:
0in'><b>&nbsp;</b></p>

</div>

<p class=MsoNormal align=center style='text-align:center'><b>UNITED STATES<br>
SECURITIES AND EXCHANGE COMMISSION<br>
Washington, D.C. 20549</b></p>

<p class=MsoNormal align=center style='text-align:center'><b>FORM 8-K</b></p>

<p class=MsoNormal align=center style='text-align:center'><b>&nbsp;CURRENT REPORT PURSUANT<br>
TO SECTION 13 OR 15(D) OF THE<br>
SECURITIES EXCHANGE ACT OF 1934</b></p>

<p class=MsoNormal align=center style='text-align:center'><b>&nbsp;</b></p>

<p class=MsoNormal align=center style='margin-left:31.5pt;text-align:center;
text-indent:-31.5pt'><b>Date of Report (date of
earliest event reported):&nbsp; March 9, 2009</b></p>

<p class=MsoHeader align=center style='text-align:center'><b>&nbsp;</b></p>

<p class=MsoHeader align=center style='text-align:center'><b>STIFEL FINANCIAL CORP.<br>
</b>(Exact name of registrant as specified in its charter)</p>

<p class=MsoHeader align=left style='text-align:left'><b>&nbsp;</b></p>

<div align=center>

<table class=MsoTableGrid border=0 cellspacing=0 cellpadding=0
 style='border-collapse:collapse'>
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  <td width=245 valign=top style='width:2.55in;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoHeader align=center style='text-align:center'><b>DELAWARE</b></p>
  </td>
  <td width=245 valign=top style='width:2.55in;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoHeader align=center style='text-align:center'><b>1-9305</b></p>
  </td>
  <td width=245 valign=top style='width:2.55in;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoHeader align=center style='text-align:center'><b>43-1273600</b></p>
  </td>
 </tr>
 <tr>
  <td width=245 valign=top style='width:2.55in;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoHeader align=center style='text-align:center'>State or Other Jurisdiction of Incorporation or
  Organization</p>
  </td>
  <td width=245 valign=top style='width:2.55in;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoHeader align=center style='text-align:center'>Commission File No.</p>
  </td>
  <td width=245 valign=top style='width:2.55in;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoHeader align=center style='text-align:center'>I.R.S. Employer Identification Number</p>
  </td>
 </tr>
</table>

</div>

<p class=MsoHeader align=left style='text-align:left'><b>&nbsp;</b></p>

<p class=MsoNormal align=center style='text-align:center'><b>ONE FINANCIAL PLAZA<br>
501 NORTH BROADWAY<br>
ST. LOUIS, MISSOURI&nbsp; 63102-2102<br>
</b>(Address of principal executive offices)</p>



<p class=MsoNormal align=center style='text-align:center'><b>(314) 342-2000<br>
</b>(Registrant's Telephone Number,<br>
Including Area Code)</p>



<p class=MsoNormal align=center style='text-align:center'><b>NOT APPLICABLE<br>
</b>(Former Name or Former Address, if Changed Since Last
Report)</p>

<p class=MsoNormal align=center style='text-align:center'><b>&nbsp;</b></p>

<p class=MsoNormal style='line-height:13.0pt'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Check the appropriate box below if the Form 8-K
filing is intended to simultaneously satisfy the filing obligation of the
registrant under any of the following provisions:</p>



<p class=MsoNormal style='line-height:13.0pt'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [ ]&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Written communications pursuant to Rule 425 under
the Securities Act (17 CFR 230.425)</p>



<p class=MsoNormal style='line-height:13.0pt'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [ ]&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Soliciting material pursuant to Rule 14a-12 under
the Exchange Act (17 CFR 240.14a-12)</p>



<p class=MsoNormal style='line-height:13.0pt'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [ ]&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pre-commencement communications pursuant to Rule
14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</p>



<p class=MsoNormal style='line-height:13.0pt'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [ ]&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pre-commencement communications pursuant to Rule
13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</p>

<div style='border:none;border-bottom:solid windowtext 3.0pt;padding:0in 0in 1.0pt 0in'>



</div>





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<hr size=2 width="100%" noshade color=navy align=center>

</div>



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style='page-break-before:always'>










<p align=right style='margin-top:0in;margin-right:0in;margin-bottom:0in;
margin-left:12.25pt;margin-bottom:.0001pt;text-align:right;text-indent:-12.25pt'><b><u>&nbsp;</u></b></p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:12.25pt;
margin-bottom:.0001pt;text-indent:-12.25pt'><b>Item 7.01 Regulation FD
Disclosure</b></p>

<p class=MsoNormal style='text-indent:34.2pt'>Stifel
Financial Corp. (the &quot;Company&quot;)
announced that beginning in June 2009 and over the next three years its
subsidiary Stifel Nicolaus &amp; Company, Incorporated will offer to repurchase
100 percent of auction rate securities held at Stifel by the company's retail
investors that bought ARS through Stifel prior to the collapse of the ARS
market in February 2008.&nbsp; </p>



<p style='margin-left:.5in;text-align:justify'>A copy of the related press
release is attached hereto as Exhibit 99.</p>



<p class=MsoNormal style='text-indent:34.2pt'> The
information in this Item 7.01 and the exhibit attached hereto will not be
deemed to be &quot;filed&quot; for the purposes of Section 18 of the Securities
Exchange Act of 1934, as amended (the &quot;Exchange Act&quot;), or otherwise
subject to the liabilities of such section, nor will such information or
exhibit be deemed incorporated by reference in any filing under the Securities
Act of 1933, as amended (&quot;Securities
Act&quot;) except as may be expressly set
forth by specific reference in such filing.</p>



<p class=MsoNormal align=center style='text-align:center'><b>CAUTIONARY STATEMENT CONCERNING FORWARD-LOOKING
STATEMENTS</b></p>

<p class=MsoNormal style='text-indent:34.2pt'>This
Current Report on Form 8-K contains certain statements that may be deemed to be
&quot;forward-looking statements&quot; within the meaning of Section 27A of the
Securities Act and Section 21E of the Exchange Act. All statements in this Form
8-K not dealing with historical results are forward-looking and are based on
various assumptions. The forward-looking statements in this Form 8-K are
subject to risks and uncertainties that could cause actual results to differ
materially from those expressed in or implied by the statements.
Forward-looking statements speak only as to the date they are made. Stifel does
not undertake to update forward-looking statements to reflect circumstances or
events that occur after the date the forward-looking statements are made.
Stifel disclaims any intent or obligation to update these forward-looking
statements.</p>



<p class=MsoNormal><b>&nbsp;Items 9.01 Financial Statements
and Exhibits.</b></p>



<p class=MsoBodyText2 style='margin-left:.5in;text-align:justify;text-indent:
-.25in'><b>(c) Exhibits:</b></p>

<p class=MsoBodyTextIndent style='margin-left:37.05pt'>The following exhibit is &quot;furnished&quot; and is not to be deemed
as &quot;filed&quot; under the Exchange Act and shall not be incorporated by
reference into any filing by Stifel Financial Corp. under the Securities Act or
the Exchange Act.</p>

<p class=MsoBodyText2 style='margin-left:.75in;text-align:justify;text-indent:
-.25in'><b>Exhibit 99:</b>&nbsp;&nbsp;Press release dated March 9, 2009</p>



<div>

<table cellspacing=0 cellpadding=0 hspace=0 vspace=0 align=center>
 <tr>
  <td valign=top align=left style='padding-top:0in;padding-right:0in;
  padding-bottom:0in;padding-left:0in'>
  <p class=MsoFooter>2</p>
  </td>
 </tr>
</table>

</div>

<br clear=ALL>



<div class=MsoNormal align=center style='text-align:center'>

<hr size=2 width="100%" noshade color=navy align=center>

</div>



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<p class=MsoNormal align=right style='text-align:right;page-break-after:avoid'><b><u>&nbsp;</u></b></p>

<p class=MsoNormal align=center style='text-align:center;page-break-after:avoid'><b>Signature</b></p>



<p class=MsoNormal style='text-indent:.2in'>Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.</p>



<p class=MsoNormal style='text-indent:.2in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>STIFEL
FINANCIAL CORP.</b></p>



<table class=MsoTableGrid border=0 cellspacing=0 cellpadding=0
 style='border-collapse:collapse'>
 <tr>
  <td width=247 valign=top style='width:184.95pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal align=left style='text-align:left'>Date:&nbsp;&nbsp;&nbsp; March 9, 2009</p>
  </td>
  <td width=392 valign=top style='width:293.85pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal align=left style='text-align:left'>By:&nbsp; <u>&nbsp;&nbsp;&nbsp;&nbsp; /s/&nbsp;&nbsp;&nbsp; Ronald J. Kruszewski&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </u></p>
  </td>
 </tr>
 <tr>
  <td width=247 valign=top style='width:184.95pt;padding:0in 5.4pt 0in 5.4pt'>

  </td>
  <td width=392 valign=top style='width:293.85pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal align=left style='text-align:left'>Ronald J. Kruszewski</p>
  </td>
 </tr>
 <tr>
  <td width=247 valign=top style='width:184.95pt;padding:0in 5.4pt 0in 5.4pt'>

  </td>
  <td width=392 valign=top style='width:293.85pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal align=left style='text-align:left'>Chairman, President and Chief Executive Officer</p>
  </td>
 </tr>
</table>







<p class=MsoNormal align=left style='margin-left:.2in;text-align:left;
text-indent:-.2in'>&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </p>

<p class=MsoNormal align=left style='margin-left:.2in;text-align:left;
text-indent:-.2in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</p>

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  <td valign=top align=left style='padding-top:0in;padding-right:0in;
  padding-bottom:0in;padding-left:0in'>
  <p class=MsoFooter>3</p>
  </td>
 </tr>
</table>

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<hr size=2 width="100%" noshade color=navy align=center>

</div>



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<p class=MsoPlainText align=center style='text-align:center'><b>Exhibit Index</b></p>



<div align=center>

<table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width="98%"
 style='width:98.62%;margin-left:-6.45pt'>
 <tr>
  <td width="14%" style='width:14.12%;padding:0in 0in 0in 0in'>

  </td>
  <td width="1%" valign=bottom style='width:1.76%;padding:0in 0in 0in 0in'>

  </td>
  <td width="84%" style='width:84.12%;padding:0in 0in 0in 0in'>

  </td>
 </tr>
 <tr>
  <td width="14%" valign=bottom style='width:14.12%;padding:0in 0in 0in 0in'>
  <p class=MsoNormal align=center style='text-align:center'><b>Exhibit&nbsp;No.</b></p>
  <div class=MsoNormal align=center style='text-align:center'>
  <hr size=1 width=63 style='width:47.25pt' noshade color=black align=center>
  </div>
  <p class=MsoNormal align=center style='text-align:center'></p>
  </td>
  <td valign=bottom style='padding:0in 0in 0in 0in'>

  </td>
  <td width="84%" valign=bottom style='width:84.12%;padding:0in 0in 0in 0in'>
  <p align=center style='margin:0in;margin-bottom:.0001pt;text-align:center'><b>Description</b></p>
  <div class=MsoHeader align=center style='text-align:center'>
  <hr size=1 width=330 style='width:247.7pt' noshade color=black align=center>
  </div>
  <p class=MsoHeader align=center style='text-align:center'></p>
  </td>
 </tr>
 <tr>
  <td width="14%" valign=top style='width:14.12%;padding:0in 0in 0in 0in'>
  <p class=MsoNormal align=center style='margin-top:12.0pt;text-align:center'>99</p>
  </td>
  <td valign=bottom style='padding:0in 0in 0in 0in'>

  </td>
  <td width="84%" valign=bottom style='width:84.12%;padding:0in 0in 0in 0in'>
  <p class=MsoNormal style='margin-top:12.0pt'>Stifel
  Financial Corp.'s press release dated March 9, 2009. </p>
  </td>
 </tr>
</table>

</div>







<div>

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  <td valign=top align=left style='padding-top:0in;padding-right:0in;
  padding-bottom:0in;padding-left:0in'>
  <p class=MsoFooter>4</p>
  </td>
 </tr>
</table>

</div>

<br clear=ALL>



<div class=MsoNormal align=center style='text-align:center'>

<hr size=2 width="100%" noshade color=navy align=center>

</div>







</body>

</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>r20090309arsedgar1.htm
<DESCRIPTION>PRESS RELEASE DATED MARCH 9, 2009
<TEXT>
<html>

<head>


<title>For further information contact:</title>



</head>

<body lang=EN-US link=blue vlink=purple>















<p align=center style='text-align:center'>&nbsp;</p>









<p align=center style='text-align:center'><b>STIFEL
FINANCIAL CORP.<br>
</b>Form 8-K Dated March 9, 2009<br>
Exhibit 99: Press Release </p>

<p>[Stifel Financial Corp. logo]<b> Stifel
Financial News</b></p>

<div align=right>

<table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width=198
 style='width:148.5pt' id="table1">
 <tr>
  <td valign=top style='padding:5.25pt 5.25pt 5.25pt 5.25pt'>
  One Financial Plaza<br>
  501 North Broadway <br>
    St. Louis, MO 63102<br>
  (314) 342-2000</td>
 </tr>
</table>

</div>



<p class=MsoNormal><b><u>For
Immediate Release</u></b></p>

<p class=MsoBodyText align=center style='text-align:center'><b>Stifel Financial
Announces Voluntary Plan To Repurchase<br>
100 Percent of
Retail Clients' Auction Rate Securities</b></p>

<p class=1firmBL1 style='margin-left:0in'><b>&nbsp;</b></p>

<p class=1firmBL1 style='margin-left:0in'><b>ST. LOUIS</b><b>, MO</b>-<b>March 9, 2009.</b>&nbsp; Stifel Financial
Corp (NYSE: SF) announced today that beginning this June and over the next
three years its subsidiary Stifel Nicolaus &amp; Company, Incorporated
(&quot;Stifel&quot;) will offer to repurchase 100 percent of auction rate securities
(&quot;ARS&quot;) held at Stifel by the company's retail investors that bought ARS
through Stifel prior to the collapse of the ARS market in February 2008.&nbsp; </p>

<p class=1firmBL1 style='margin-left:0in'>Since the extraordinary collapse of
the ARS market on February 13, 2008, Stifel has been addressing the liquidity
needs of its clients.&nbsp; Today's announcement is a significant enhancement over
the voluntary plan announced February 11 and reflects Stifel's ongoing efforts
to help its clients address the collapse of a market that functioned
effectively for more than 20 years.&nbsp; Stifel first disclosed the possibility of
enhancing its original voluntary plan that was announced February 11 and
described in the company's SEC 10K filed on February 27, 2009.</p>

<p class=1firmBL1 style='margin-left:0in'>In that voluntary program, Stifel is
offering to repurchase at par the greater of 10 percent or $25,000 of ARS held
by all retail clients who purchased them at Stifel before the ARS market
collapsed and who continue to hold them in Stifel accounts.&nbsp; In exchange,
Stifel will take an assignment of clients' actionable legal claims against the
major ARS market participants for the amounts repurchased.&nbsp; Stifel anticipates
that this initial repurchase will be completed by June 30, 2009.</p>

<p class=1firmBL1 style='margin-left:0in'>After the initial repurchases the
enhanced voluntary plan provides for additional repurchases from eligible
investors during each of the next three years: </p>

<p class=1firmBL1 style='margin-left:0in;text-indent:.5in'>(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The
greater of 10 percent or $25,000 to be completed by June 30, 2010;</p>

<p class=1firmBL1 style='margin-left:0in;text-indent:.5in'>(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The
greater of 10 percent or $25,000 to be completed by June 30, 2011; </p>

<p class=1firmBL1 style='margin-left:0in;text-indent:.5in'>(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The
balance of outstanding ARS to be repurchased by June 30, 2012. </p>

<p class=1firmBL1 style='margin-left:0in'>Employee accounts would not be
eligible until the last phase of the enhanced voluntary plan.</p>

<p class=1firmBL1 style='margin-left:0in'>&quot;Since we announced the voluntary
plan on February 11, we have continued to evaluate the status of the ARS
market, current financial conditions, and the needs of our clients.&nbsp; We believe
that this plan strikes the appropriate balance between the respective interests
of our clients and our shareholders,&quot; Stifel Chairman and CEO Ronald J.
Kruszewski said.</p>

<div>

<table cellspacing=0 cellpadding=0 hspace=0 vspace=0 align=center>
 <tr>
  <td valign=top align=left style='padding-top:0in;padding-right:0in;
  padding-bottom:0in;padding-left:0in'>
  <p class=MsoFooter>1</p>
  </td>
 </tr>
</table>

</div>

<br clear=ALL>



<div class=MsoNormal align=center style='text-align:center'>

<hr size=2 width="100%" noshade color=navy align=center>

</div>



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<p class=1firmBL1 style='margin-left:0in'>&quot;As we have said all along, neither
Stifel nor its clients had access to the information available to the major
market participants regarding the impending collapse of the ARS market.&nbsp; Had
the major market participants disclosed to the entire marketplace the material
facts known by them, Stifel would not have sold ARS to its clients.&nbsp; While
several larger firms have announced more complete repurchase plans, Stifel's
lack of knowledge of the impending market collapse is the critical difference
that serves the foundation of Stifel's position,&quot; Mr. Kruszewski said. </p>

<p class=1firmBL1 style='margin-left:0in'>&quot;Since the collapse of the ARS
market, redemptions and restructurings have resulted in liquidity for many of
our clients, reducing retail client holdings by more than 50 percent.&nbsp;
Unfortunately, some clients have had little or no relief.&nbsp; This plan ultimately
will provide liquidity to 100 percent of our ARS retail clients, about 1,200 in
number, who represent less than one-half of one percent of all Stifel retail
accounts.&nbsp; It is important to note that approximately 40 percent of these
retail accounts will receive 100 percent ARS liquidity by June 30, 2009,&quot; Mr.
Kruszewski said.</p>

<p class=1firmBL1 style='margin-left:0in'>The voluntary plan to repurchase
these ARS is subject to redemptions, market conditions, and future events
including, without limitation, events affecting Stifel's financial condition.&nbsp;
Complete details of Stifel's ARS repurchase plan will appear on the company's website,
www.stifel.com
in the near future and also will be mailed to eligible customers.</p>

<p class=Default><b>About Stifel Financial </b></p>

<p class=Default>Stifel Financial Corp. operates
203 offices in 36 states and the District of Columbia through its principal
subsidiary, Stifel, Nicolaus &amp; Company, Incorporated, and three European
offices through Stifel Nicolaus Limited. Stifel Nicolaus provides securities
brokerage, investment banking, trading, investment advisory, and related
financial services, primarily, to individual investors, professional money
managers, businesses, and municipalities. Stifel Financial Corp. is listed on
the New York Stock Exchange under the symbol &quot;SF.&quot; To learn more about Stifel,
please visit the Company's Web site at www.stifel.com. </p>



<p class=Default><b>Forward-Looking Statements </b></p>

<p class=1firmBL1 style='margin-left:0in'>This press release contains certain
statements that may be deemed to be &quot;forward-looking statements&quot; within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. All statements in this press release not
dealing with historical results are forward-looking and are based on various
assumptions. The forward-looking statements in this press release are subject
to risks and uncertainties that could cause actual results to differ materially
from those expressed in or implied by the statements. Forward-looking
statements speak only as to the date they are made. Stifel does not undertake
to update forward-looking statements to reflect circumstances or events that
occur after the date the forward-looking statements are made. Stifel disclaims
any intent or obligation to update these forward-looking statements.</p>

<p class=1firmBL1 align=center style='margin-left:0in;text-align:center'># # #</p>

<p class=1firmBL1 style='margin-left:0in'><b>CONTACTS:</b></p>

<p class=1firmBL1 style='margin-left:0in'><b>Media:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investors:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Brokers:</b></p>

<p class=1firmBL1 style='margin:0in;margin-bottom:.0001pt'>Tim Beecher&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; James
Zemlyak&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; David Sliney</p>

<p class=1firmBL1 style='margin:0in;margin-bottom:.0001pt'>314.982.8621&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 314.342.2228&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 314.342.2043</p>

<p class=1firmBL1 style='margin:0in;margin-bottom:.0001pt'>tim.beecher@fleishman.com</p>

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