Press Release

Release No. 1205-01
December 02, 2005

RAYMOND JAMES FINANCIAL BOARD
INCREASES DIVIDEND FIFTY PERCENT,
APPOINTS NEW DIRECTOR

ST. PETERSBURG, Fla.– The Raymond James Financial Board of Directors Thursday increased the quarterly dividend on its common shares from $.08 per share to $.12 per share, payable Jan. 18, 2006, to shareholders of record Jan. 3.

“As a product of the favorable results over the last two years and our view of the company’s future prospects, the board voted to increase the dividend by 50 percent for the January payment,” explained Chairman and CEO Thomas A. James.

The board also appointed Paul C. Reilly, chairman and CEO of Korn/Ferry International, as a director. The appointment will be effective Jan. 2, 2006, and voted on by shareholders at the annual shareholders’ meeting on Feb. 16, 2006. That meeting will begin at 4:30 p.m. and will be held at the Raymond James Financial Center, the company’s headquarters in St. Petersburg. Shareholders of record as of Dec. 20, 2005, will be eligible to vote.

“Paul brings a broad range of relevant experience to our board,” stated James in making the announcement. “He offers global experience and a strong accounting background, complemented by financial expertise. And as Raymond James’ growth continues, Paul’s in-depth knowledge related to attracting qualified executives and other high-level personnel will also prove beneficial.”

Reilly, who resides in St. Petersburg, began his tenure as chairman and CEO with Korn/Ferry International, a premier provider of executive search and leadership development solutions, in 2001. Prior to that, he worked as CEO at KPMG International where he was responsible for the overall strategy and implementation of the firm’s products, services and infrastructure on a global basis.

Reilly is currently chairman of the board at Korn/Ferry International and serves as a board member for Students In Free Enterprise (SIFE), the National Leadership Roundtable on Church Management (NLRCM), the Mendoza Graduate Alumni Board and the College of Science Advisory Council at the University of Notre Dame.

He earned both his bachelor’s degree in preprofessional studies and an MBA in finance from the University of Notre Dame.

Reilly joins the Raymond James Board as an independent director. Lead director Jonathan A. Bulkley of Bulkley Consulting will not be standing for re-election at the shareholders’ meeting due to the company’s corporate governance standards regarding age and length of service of board members.

In addition, Paul L. Matecki, general counsel and director of compliance at Raymond James, was elected Corporate Secretary, effective Feb. 1, 2006. Matecki will replace Barry S. Augenbraun who will retire on that date.

About Raymond James

Raymond James Financial (NYSE-RJF) is a Florida-based diversified holding company providing financial services to individuals, corporations and municipalities through its subsidiary companies. Its three wholly owned broker/dealers, Raymond James & Associates, Raymond James Financial Services and Raymond James Ltd. have more than 4,800 financial advisors serving 1.4 million accounts in 2,100 locations throughout the United States, Canada  and overseas. In addition, total client assets are approximately $150 billion, of which approximately $27.5 billion are managed by the firm’s asset management subsidiaries.

For more information, please contact Steve Valley at 727-567-2824.
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