LaBranche & Co Inc. Receives Consents From Holders of Over 92% of its 9-1/2% Senior Notes Due 2004 and 94% of its 12% Senior Sub

LaBranche & Co Inc. Receives Consents From Holders of Over 92% of
its 9-1/2% Senior Notes Due 2004 and 94% of its 12% Senior Subordinated Notes
Due 2007 Pursuant to its Tender Offer and Consent Solicitation 


NEW YORK, April 20  /PRNewswire-FirstCall/ -- LaBranche & Co Inc.  announced
today that, based on information received from the depositary in the company's
current tender offer and consent solicitation, it has received consents from
holders of more than 92% of its outstanding 9-1/2% Senior Notes due 2004 in the
aggregate principal amount of $100.0 million ("9- 1/2% Notes") (CUSIP No.
505447AB8) and more than 94% of its outstanding 12% Senior Subordinated Notes
due 2007 in the aggregate principal amount of $250.0 million ("12% Notes," and
together with the 9-1/2% Notes, the "Notes") (CUSIP No. 505447AD4). The
consents are sufficient to effect the proposed amendments to the indentures
governing the Notes as set forth in the company's Offer to Purchase and Consent
Solicitation Statement dated April 5, 2004, pursuant to which the tender offer
and the consent solicitation are being made.

To be eligible to receive the consent payment relating to the Notes, holders
were required to consent to the proposed amendments on or prior to 5:00 p.m.,
New York City time, on Monday, April 19, 2004 (the "Consent Date").

The company will proceed to execute a supplemental indenture effecting the
proposed amendments to the indenture governing each series of Notes.  The
supplemental indenture with respect to each series of Notes will become
operative only if the company accepts the Notes of such series for payment
pursuant to the terms of the tender offer (except that certain provisions will
become operative, and will be binding on all holders of such Notes, immediately
upon the execution of such supplemental indenture, as described more fully in
the Offer to Purchase and Consent Solicitation Statement). When the remaining
amendments to the indenture governing each series of Notes become operative,
they will be binding on the holders of Notes of such series not tendered for
purchase in the tender offer.

The tender offer expires at midnight, New York City time, on May 3, 2004,
unless extended or earlier terminated.

The closing of the tender offer is subject to certain conditions with respect
to each series of Notes, including receipt by the company of gross proceeds
from the sale of new senior notes sufficient to finance the purchase of Notes
of such series in the tender offer. The company's obligation to purchase either
series of Notes in the tender offer is not conditioned on the purchase of the
other series of Notes.

The consideration for the 9-1/2% Notes tendered will be calculated as of 10:00
a.m., New York City time, on April 20, 2004, based on a fixed-spread pricing
formula. The consideration for the 12% Notes tendered will be the price set
forth in the Offer to Purchase and Consent Solicitation Statement. Subject to
the satisfaction of the conditions to the tender offer, the payment date for
the Notes will be promptly following the expiration date.

The Company has retained Credit Suisse First Boston LLC to serve as the Dealer
Manager and Solicitation Agent for the tender offer and the consent
solicitation.  Requests for documents may be directed to Morrow & Co., Inc.,
the Information Agent, by telephone at [phone] (toll-free) or (212)
754-8000 (collect), or by e-mail at . Questions regarding the tender offer may
be directed to Credit Suisse First Boston, at [phone] (toll-free) or
[phone] (collect).

This press release is not an offer to purchase, a solicitation of an offer to
sell or a solicitation of consent with respect to any securities. The offer is
being made solely by the Offer to Purchase and Consent Solicitation Statement
and related Consent and Letter of Transmittal dated April 5, 2004.

The new senior notes or other securities that may be offered by the company to
finance the purchase of the Notes in the tender offer will be offered pursuant
to an exemption from registration under the Securities Act of 1933. Such
securities will not be registered under the Securities Act and, accordingly,
may not be offered or sold in the United States absent registration under the
Securities Act or an applicable exemption from the registration requirements.

Founded in 1924, LaBranche is a leading Specialist firm. The Company is the
Specialist for more than 650 companies, seven of which are in the Dow Jones
Industrial Average, 30 of which are in the S&P 100 Index and 103 of which are
in the S&P 500 Index. In addition, LaBranche acts as the Specialist in over 200
options.

Certain statements contained in this release, including without limitation,
statements containing the words "believes," "intends," "expects,"
"anticipates," and words of similar import, constitute "forward-looking
statements" within the meaning of the Private Securities Litigation Reform Act
of 1995.  Readers are cautioned that any such forward-looking statements are
not guarantees of future performance, and since such statements involve risks
and uncertainties, the company's actual results and performance and the
industry may turn out to be materially different from the results expressed or
implied by such forward-looking statements.  Given these uncertainties, readers
are cautioned not to place undue reliance on such forward-looking statements.  
The company also disclaims any obligation to update its view of any such risks
or uncertainties or to publicly announce the result of any revisions to the
forward-looking statements made in this release. 

DATASOURCE: LaBranche & Co Inc.



CONTACT:  Larry Prendergast, Executive Vice President of Finance, or

Harvey S. Traison Senior Vice President & Chief Financial Officer, both of

LaBranche & Co Inc., [phone]; or Investors - Michael Polyviou, Media -

Brian Maddox or Scot Hoffman, all of Financial Dynamics, [phone], for

LaBranche & Co Inc.

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