Greenhill & Co., Inc Announces Pricing Of Its Initial Public Offering Of Common Stock


NEW YORK, NY, May 5, 2004 – Greenhill & Co., Inc. announced today the pricing of its initial public offering of common stock, which is expected to begin trading tomorrow, May 6, 2004, on the New York Stock Exchange under the symbol “GHL”. Greenhill & Co, Inc. has agreed to sell 5,000,000 shares of its common stock at $17.50 per share. The underwriters have an option to purchase up to an additional 750,000 shares from Greenhill & Co., Inc. at the initial public offering price less the underwriting discount.

The IPO will be an all primary issuance that will raise new capital. None of the existing shareholders will be selling shares.

Goldman, Sachs & Co. is the sole book runner of the proposed offering; Lehman Brothers Inc. and UBS Securities LLC are joint lead managers; and Keefe, Bruyette & Woods, Inc. and Wachovia Capital Markets, LLC are acting as co-managers.

Greenhill & Co., Inc. is an independent investment banking firm that (i) provides financial advice on significant mergers, acquisitions, restructurings and similar corporate finance matters and (ii) manages merchant banking funds and commits capital to those funds. Greenhill & Co. Inc. acts for clients located throughout the world from offices in New York, London and Frankfurt.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

Copies of the Greenhill & Co., Inc. final prospectus, when available, may be obtained from Goldman, Sachs & Co., 85 Broad Street, New York, NY 10004, Attn: Prospectus Department. Phone #: (212) 902-1171; Fax #: (212) 902-9316.

Contact: John D. Liu, Chief Financial Officer
Greenhill & Co., Inc.
(212) 389-1500